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Bust 401:Strategic Management Question Paper
Bust 401:Strategic Management
Course:Bachelor Of Education Arts
Institution: Chuka University question papers
Exam Year:2010
INSTRUCTIONS:
ANSWER QUESTION ONE AND ANY OTHER TWO.
1. (a) Strategic Decisions do affect a firm?s long-term prosperity. With the use of an appropriate practical example, illustrate and explain a firm?s longterm prosperity is affected within the context of strategic DecisionMaking. [10 marks]
(b) In 2006 Ipswich based multimedia communications company, AV Unit decided to put their web development skills and experience into a project for themselves. Leveraging their relationships with existing suppliers, and their in-house development skills they launched Clearly AV as an online retailer of audio and video cabling, components and accessories. This was an instance of Strategic Choice by Ipswich Ltd. However, Strategic Choice involves choosing one or more strategies. In the process, the analysis (of an appropriate strategic choice) must identify a clearly superior strategy or whether the current strategy will clearly meet future company objectives.
Analyze closely, the above statement and discuss the factors that influence strategic choice. [10 marks]
(c) Using appropriate examples, explain both the concept of „Strategic Fit? and the concept of „Emergent Strategies?. [10 marks]
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2. (a) The Strategy Formulation process begins with a definition of „Company Mission?, which is a fundamental purpose that sets a firm apart from other firms.? With the aid of a comprehensive example, and with specific reference to the key ingredients of „Preamble?, „Basic Purpose?, „What do we Do?, and „Where do we Do it? show what a Company Mission entails. [10 marks]
(b) “The strongest competitive forces determine the profitability, productivity and growth potential of an industry and so are of critical significance in the formulation of Strategy.”
Study closely this statement, revealing these forces and how they affect an industry?s potential in terms of profit and productivity. [10 marks]
3. (a) With the aid of a suitable case in point example, illustrate the concept of the Resource Based View (RBV). [8 marks]
(b) In the Value Chain Analysis (VCA), customer value derives from three (3) basic sources. Explain these sources clearly, bearing in mind the fact that the VCA attempts to look at the costs across a series of activities that business performs in order to establish where low-cost advantages exist. Also illustrate diagrammatically the entire concept of Value Chain Analysis and explain its elements. [12 marks]
4. (a) “Strategic Management has, within its scope, an understanding of Functional Tactics in the areas of Production and Operations Management, Marketing, Finance and Accounting and Human Resource Management.” Discuss. [11 marks]
(b) Explain the „Key Success Factors? and „Budgets? as Operational Control Systems. [9 marks]
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