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Strategic Management (Buss 420) Question Paper

Strategic Management (Buss 420)

Course:Business Administration

Institution: Kenya Methodist University question papers

Exam Year:2010

TIME : 2 HOURS
INSTRUCTIONS Answer Question ONE and any Other TWO Questions

Question 1
a) Define the terms:
i) Strategic management. (2marks)
ii) Strategy (2marks)
b) Explain and illustrate, with a well labeled diagram, the open system model. (8marks)
c) Strategic management is a process rather than an event, because it involves a number of stages, as opposed to being a one spectacular event. Discuss this statement stating and explaining all the stages of strategic management process. (18marks)

Question 2
a) Differentiate between the following terms:
i) Horizontal integration and vertical integration
ii) Mission and vision
iii) Core competence and distinctive competence (12marks)
b) What are the advantages does a firm which has adopted overall cost leadership strategy over its competitors. (8marks)

Question 3
a) State and explain the five forces in the Michael Porter Five Forces Model of analyzing the industry. (15marks)
b) Define the following terms and give an example in each case.
i) Strategic business units (SBUs)
ii) Synergy (5marks)

Question 4
a) State and explain the external macro-environment of a business organization. (8marks)
b) What are the dimensions of the strategic decisions? (6marks)
c) What is the importance of carrying out the SWOT analysis in an organization? (6marks)

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