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Find Related Questions by Tags, levels, etc.
4. (b) The macro-environment contains several conditions and factors that systematically present opportunities or pose threats to organizations in their effort to gain competitive advantage. The factors in the macro-environment for the purpose of effective analysis are grouped using the PEST model, which represents political, economic, socio-cultural, and technological factors. Understanding these factors will influence the kind of strategies business organizations would formulate.
Required:
State and explain FIVE (5) economic factors which determine the nature of opportunities or threats that organizations may face.
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Organisations that intend to remain focused on the achievement of their objectives develop and apply different business models to guide them in their operations. One of such models is the Ansoff Growth Matrix.
Required:
Explain the Ansoff Growth matrix with emphasis on its components. (10 marks)
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Strategic Planning Process is important for the strategic management of companies. Organisations from both the private and public sectors are increasingly embracing the practice of strategic planning in anticipation that it will translate into improved performance. It is practised widely, formally and informally.
Required:
Explain the strategic planning process. (14 marks)
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Every product is said to go through a life cycle that has been classified into four stages. Therefore, in an attempt to reap the maximum benefits from a product or service, the marketer periodically determines the stage of the product/service in the life cycle to devise the appropriate strategies in that direction.
Required:
Explain FOUR (4) stages of a product life cycle. (10 marks)
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Boston Consulting Group (BCG) matrix analysis is used to classify Strategic Business Units (SBUs) within an organization’s portfolio of products and services based on their respective market share and growth rate. It is a key aspect of strategic capability to ensure that the portfolio is strong.
Required:
Identify and explain the FOUR (4) categories in the model. (10 marks)
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Strategies in organizations develop in different ways, and one way of explaining strategies is to make a distinction between deliberate strategy, emergent strategy, and incremental strategy.
Required:
Explain each of the strategies outlined above. (12 marks)
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TestCo Company Ltd (TCL) introduced a product, YZ Sap, into the North East Region market and the patronage was very encouraging. In a conversation with a friend, the Managing Director of TCL, Asembibeba, made a strong case for taking risks without necessarily planning for the outcome. In his opinion, introducing YZ Sap into the North East Region without a formal planning process and its positive outcome suggests that planning is not necessary when entering a new untapped market.
Required:
a) Write a note to Asembibeba explaining clearly FIVE (5) reasons why there is the need for planning before embarking on a business venture. (10 marks)
b) Write a second note to Asembibeba explaining FIVE (5) advantages of a formal system of strategic planning when embarking on a business venture. (10 marks)
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An organization’s strategic decisions are categorized into entity/corporate level strategies and functional level strategies. Indicate how the two differ based on the following:
i) Key activity/function (2 marks)
ii) Risks associated with their decisions (2 marks)
iii) Type of decisions (2 marks)
iv) Duration of their decisions (2 marks)
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SWOT analysis is one of the most widely used strategy formulation techniques for businesses. Using your knowledge in Business Management, you are required to explain:
i) The concept of SWOT analysis. (2 marks)
ii) The elements in the SWOT analysis and provide ONE example to support each element. (12 marks)
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At a recent board meeting of a multinational company, there was a heated debate on whether the company should continue to invest resources in strategic planning processes. A section of the board members believed that it is worth investing, whilst the other section opposed that decision because they considered such an activity as a waste of resources.
Your task is to state:
a) FIVE reasons why you think the company must continue to invest in the strategic planning process. (10 marks)
b) FIVE reasons why it might not be necessary for the company to invest in the strategic planning process. (10 marks)
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A Marketing Officer who has just been employed by NACAP Ltd has identified the need for a marketing plan for the company although the Managing Director and the wife, who own the business, do not share her view. She is convinced that there should be a corporate strategy to drive the marketing plan.
Required:
a) Explain FOUR (4) relationships between corporate planning and marketing strategy. (10 marks)
b) Identify FOUR (4) sections in the format of a marketing plan and describe the contents of the sections identified. (10 marks)
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World class organisations invest financial and non-financial resources in developing vision and mission statements because they believe that such investment will yield numerous benefits.
Required: Explain FIVE (5) of such benefits. (10 marks)
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The management of National Gas Ltd categorizes its plans into three, namely strategic, business, and operational. The categorization is done to enhance the operational efficiency of the company.
Required:
Describe the three categories of the company’s plans.
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c) Good links between operational and strategic planning help in the execution of corporate strategies. However, managers gain from knowing the difference between strategic and operational objectives because this distinction plays a major role in the conversion of an overarching vision into specific tasks.
Required:
Distinguish between a strategic plan and an operational plan.
(5 marks)
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Find Related Questions by Tags, levels, etc.
Question:
Strategic planning has been defined as the process of setting objectives for the organisation and laying down the policies which are to govern the acquisition, usage, and disposal of the resources used to achieve those objectives.
Required: Explain the following:
i) Strategy
ii) Policies
iii) Procedures
iv) Budget
v) Rules
(10 marks)
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Before an organisation can begin strategy formulation, there is the need to scan the external environment to identify possible opportunities and threats and its internal environment for strengths and weaknesses.
Explain the following:
a) Environmental scanning. (3 marks)
b) Strategic planning. (3 marks)
c) Outline the strategic planning process. (14 marks)
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ou have been asked as the Strategic Business Planner of your company to speak to a group of recently recruited manager trainees, most of whom are not business management graduates, on strategy formulation and implementation.
Required:
i) Explain the concept of SWOT analysis to the recently recruited manager trainees. (2 marks)
ii) Explain the elements in the SWOT analysis to the manager trainees. (8 marks)
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