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Buss 042: Strategic Management Question Paper

Buss 042: Strategic Management

Course:Business Administration

Institution: Kenya Methodist University question papers

Exam Year:2012

KENYA METHODIST UNIVERSITY
END OF 2ND TRIMESTER 2012 (DAY) EXAMINATIONS
SCHOOL : BUSINESS AND ECONOMICS
DEPARTMENT : BUSINESS ADMINISTRATION
UNIT CODE : BUSS 042
UNIT TITLE : STRATEGIC MANAGEMEMT

TIME: 2 HOURS
INSTRUCTIONS:
Answer question one and any other two questions
Question One
Define the term strategy.
(2 marks)
Giving examples briefly highlight the different levels/hierarchy of strategy.
(6 marks)
Outline the model of strategic management explaining its major components.
(16 marks)
What are the benefits of strategic management?
(6 marks)
Question Two
Discuss in details the five forces that Michael E. Porter identifies as essential in industry analysis. (20 marks)
Question Three
Key strategic decisions made by the top management are increasingly being influenced by remote environmental factors. Discuss the six broad environmental factors that affect strategy formulation highlighting how they affect strategy formulation.
(12 marks)
Resource based view of the firm is one method used in conducting internal analysis. Highlight the basic resources identified under this method explaining what makes a resource valuable.
(8 marks)
Question Four
Citing examples discuss the key components of mission statements.

(5 marks)
What are the characteristics of an effective mission statement?
(5 marks)
Identify and explain key indicators of strategy failure during the strategy implementation phase.
(10 marks)
Question Five
What is strategic control?
(2 marks)
Discuss the importance of strategic control.
(12 marks)
Discuss the characteristics of an effective control system.
(6 marks)

Buss 042: Strategic Management Question Paper

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