Give reasons to the below statements:
1. Strategic Management provides business organizations better systematic planning to prepare for future fluctuations in their external and internal environments.
2. The Priority Matrix is a very useful tool that acts as an “Indicator” to the business decision makers! Support your reason with an example.
3. Strategic Management is all about Competitive Advantage! Support your reason with a case study.
4. The Five Forces Matrix is a very useful tool for comparing the attractiveness of different industries. Support your answer with an example.
5. Analyzing key competitors is a mandatory function that must be seriously considered when formulating the strategy of your organization. Support your reason with an example.
6. Stating the benefits to formulate, implement and evaluate your organization’s strategy is a mandatory start! Support your answer with examples.
7. PESTEL plays an important factor in formulating any business strategy. Support your answer with an example.
8. A change in any one of the major components in the Strategic Management Model can necessitate a change in any or all the other components! Support your answer with an example.
9. Strategy formulation, implementation and evaluation activities occur at 3 hierarchical levels in a large organization! Illustrate how?
10. The vision and mission are the rational start of any business strategy! Support your answer with examples.
11. Solid internal processes of any business organization, supported by technological tools, result in developing distinguished competitive advantage in the marketplace. Support your answer with a case study.
12. EFAS and IFAS are two mandatory indicators of SWOT analysis. Support your answer with examples and illustration.
13. The Value Chain represents a major strength of any business organization. Support your answer with a diagram and illustration.
14. Strategy implementation requires coordination among many individuals!
15. Change is the starting point in formulating, implementing, and evaluating strategies! Support your answer with an example.
16. Acquisition is a corporate strategy. Support your answer with a case study.
17. Strategies are prone to fail! Support your answer with a case study.
18. Strategy formulation, implementation and evaluation needs a team and not a one man show!
19. The Management approval and their support are 2 mandatory factors in formulating, implementing, and evaluating the organization’s strategy.
20. Strategic Management is a process. Support your answer with a diagram.
Part Two
Case Study:
The TWOS analysis is the core of any business strategy. Present a case that illustrates the TWOS analysis and support your case with the recommended strategic tactics that will enable you to achieve the following:
1. The mission & the vision of the organization
2. The determined objective, and
3. The selected business strategy.