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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:2013

TIME: 2 HOURS

INSTRUCTIONS: Answer Question One and any Other TWO Questions
Question One
a) Define "strategy" and explain the nature of strategy and of strategic
management. (6marks)
b) "Strategic management is a process." Explain this statement. (8marks)
c) A company ABC Ltd producing detergents for the local markets in suburban areas was facing increasing competition from branded products. The management decided to concentrate on controlling costs by recasting production and marketing processes and bargaining with suppliers to minimize cost of inputs. But there were limits of cost – cutting by recasting process and optimize time utilization. Suppliers of inputs too were reluctant to yield pressure. After a year, sales started declining fast. What can the management do in the fact of growing competition? Explain. (8marks)
d) Explain any FOUR attributes of a good strategy. (6marks)
e) Why should organizations be managed "strategically"? (2marks)

Question Two
a) "It is intellectually simple to formulate an elegant strategy but not so with its implementation". Do you agree? Explain your answer illustrating it with practical examples that you are familiar with. (10marks)
b) There are various levels of strategy for an organization. Which level of strategy answers the question "how do we complete"? (4marks)
c) What do you understand by the phrase "competitive priorities"? Illustrate your answer with examples. (6marks)

Question Three
a) An organization has the necessity to keep costs down but provide
customized services to its demanding customers. You have been requested to advise this organization on the best strategy to adopt. Proceed and advise the organization. (10marks)
b) Demonstrate your understanding of the resource based view (RBV) theory of the firm and show why capability paradigm qualifies to be a variant of the RBV. (10marks)

Question Four
a) There are various strategic analyses such as SWOT and stakeholder analysis. Rigorously explain each of these analysis including their
limitation in contemporary strategy analysis. (12marks)
b) Explain Michael Porter`s competitive forces model for a Kenyan industry or economic sector that you are most familiar with. (8marks)

Question Five
a) What is the relationship between strategy and structure in the context of
strategy implementation? (6marks)
b) What do you understand by the phrase "Competitive advantage"? Explain competitive advantage in the context of the VRIO framework.
(10marks)
c) Strategy implementation implies strategic change/ change management. Do you agree? Why? (4marks)

Strategic Management (Buss 420) Question Paper

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