IPCC_Group 2_Test_4

STRATEGIN MANAGEMENT
 
TOPIC: Business Environment & Business Policy and Strategic Management
 

TIME: 1.5 hrs

Marks: 50

 
Question No.1                                                                                                                 5x1=5
 
State with reasons which of the following statements is correct / incorrect:

1. The basic objective of a business enterprise is to monitor the environment.

 

1. “Profit may not be a universal objective, but business efficiency is definitely an objective common to all business”.

 

1. Managers must list and analyse all environmental influences for proper strategic understanding.

 

1. Developing annual objectives & short-term strategies that are compatible with the selected set of long-term objectives are one of the major task of strategic management.

 

1. Strategic vision and mission statements are needed only by large business houses.

 
Question No.2                                                                                                           5x3=15
 
Briefly answer the following questions:
 

1. Distinguish between The Three Levels of Strategy Formulation.

 

1. You are appointed as a Strategic Manager by XYZ Co. Ltd.  Being a Strategic Manager what should be your tasks to perform?

 

1. Write short note on Importance of Strategic Management.

 

1. Distinguish between Micro Environment and Macro Environment.

 

1. "Strategy is partly proactive and partly reactive." Do you agree? Give reasons for your answer.

 
Question No.3                                                                                                                 2x6=12
 

1. Explain the evolution and importance of business policy and strategic management.

 

1. Briefly discuss the difference between vision and mission.

 
Question No.4                                                                                                                2x5=10
 

1. Analyse the following cases in the context of Michael Porter’s Five Forces Model:

 

1. A supplier has a large base of customers.
2. A manufacturer of sports goods has the advantage of economies of large scale production.

 

1. Products offered by competitors are almost similar.

 

1. Briefly explain ‘shared vision’ and ‘vision shared’.

Question No.5                                                                                                                           2x4=8
 

1. Explain in detail the term corporate strategy with its characteristics.

 

1. Explain how technological factors present an opportunity as well as threat to a business organization.

 
 
 
All the best😊