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Strategic Management B(Buss 420) Question Paper
Strategic Management B(Buss 420)
Course:Business Administration
Institution: Kenya Methodist University question papers
Exam Year:2013
TIME: 2 HOURS
Instructions:
CASE STUDY
In the 1980s, Lee Iacocca became a legend by rescuing Chrysler Corporation from collapse, bankruptcy. Chrysler has, however, another challenge today; the motor industry’s context is ferociously competitive. To survive in the competition Chrysler needs to overcome some obstacles. One, the whole world car industry was a production over-capacity. Although U.S. companies have improved their efficiency, European and Asian producers have also set up plants there. Chrysler is, therefore, striving to increase its market share. Lacocca recognized that price cuts on some models would be necessary though it was not the only way to retain and attract buyers, and is even unhealthy in the long-run. Thus a second challenge needed tackling: improving the quality and performance of cars. This required paying attention to product development. Emphasis on customer service after sale also gained prominence. Another challenge arose from a merger with AMC, which resulted in the laying off of some employees in all categories with its attendant challenges, particularly on the remaining employees. Thus the firm recognized the need for all managers to embrace teamwork. Now, Chrysler is focused on cost containment as well as improving efficiency.
Required:
Question One
An identification and analysis of motor-vehicle industry factors other than competition.
(10 marks)
A description of any two strategies European and Asian companies would execute to enter the US market.
(10 marks)
The meaning and features of product development.
(5 marks)
The challenges of mergers as a growth strategy.
(5 marks)
Question Two
The purpose of managing an organization strategically is to earn a sustainable competitive advantage.
Define the phrase "Competitive advantage."
(5 marks)
What challenges would a manager face in sustaining a competitive advantage?
(5 marks)
Discuss the benefits of strategic management under the following headings:
Financial benefits.
(4 mark)
Behavioral values.
(6 marks)
Question Three
Briefly discuss the evolution of strategic management.
(10 marks)
Evaluate the features that make strategic management distinct.
(6 marks)
What are the attributes of a good strategy?
(4 marks)
Question Four
A ’business environment’ constitutes those circumstances that influence a business, either positively or negatively.
Distinguish between market and non market circumstances.
(3 marks)
Classify the circumstances in the following categories.
Remote
(3 marks)
Industry
(3 marks)
Operating or immediate
(3 marks)
Explain how Michael Porter analyses industry circumstances for competitiveness.
(8 marks)
Question Five
Explain the purpose of strategic business unit in the strategy process.
(5 marks)
Discuss the components of the resource based view of strategic management.
(15 marks)
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