Strategic Management is a discipline that requires the continuous interrelationship among various functional managers. As a business strategy Management Trainee you are required to answer the following questions by supporting each response to detailed examples.

Required:

a.In one of the definitions used by Pearce and Robinson, Strategic management was described as the art and science of formulating, implementing and evaluating cross-functional decisions aimed at achieving organizational goals; Briefly discuss the context in which strategic management could be described as an art and when it also could be described asa science. (2 marks)

b.Describe the strategy formulation process; clearly explaining three major activities that are undertaken at this stage?(3 marks)

c.Distinguish between business level strategies and corporate level strategies; clearly giving examples under each.(3 marks)

d.Differentiate between strategy and tactics (2 marks)