SECTION B Question 1

A. Describe the THREE (3) step strategic management process of formulation, strategy implementation and strategy evaluation.

B. List FIVE (5) benefits and FIVE (5) pitfalls of strategic management.

Question 2

A. Briefly describe FIVE (5) benefits of a mission statement.

B. Describe the nature and role of vision statements in strategic management

5. ________________forces have a direct impact on the potential attractiveness on various strategies.

A. Technology

B. Political

C. Economic

D. Cultural

6. All the following will cause high rivalry among competing firms EXCEPT:

A. size of the competing firms

B. perishable products

C .excess capacity

D. high barriers to entry

7. In analysing a companys strength and weaknesses, which of the following are NOT taken into consideration?

A .Sales and Marketing

B. Human Resources

C .Research and Development

D. The external environment

8. The _______________ states that internal resources are more important for a firm than external factors to sustain competitive advantage.

A. Industrial Organizational view

B .Resource-Based view

C. Competitive Intelligence View

D. Traditionalist View

9. The ________________ is used to summarize and evaluate economic, social, cultural, technological and competitive information.

A. external factor evaluation matrix

B. internal factor evaluation matrix

C. competitive profile matrix

D. grand strategy matrix

10. Value chain analysis is the process of:

A. assessing the cost /benefits and risks

B. determining the cost associated with organizational activities

C. comparing present and future costs

D. evaluating data sources