MNG3702 - Top past exam questions and Answers Updated 2023 A 100% out of 100% Correct

MNG3702 - Top past exam questions and Answers Updat ed 2023 A 100% out of 100% Correct SIX STRATEGIC LEADER *PRINCIPLES* - CORRECT ANSWER -Strategic leaders are... 1. *future orientated and anticipate change* - opportunities 2. *get things done * - best initiative - make difference. 3. *open new horizons* interpret different events, efficencie. 4. *reach out to stakeholders* value input, build trust 5. *fit to lea d* - resilient, resourceful 6. *do the 'next' right thing and learn from experiences* ethical leadership, consider both short and long term goals Exceptional Strategic leader's *characteristics: * - CORRECT ANSWER -1. Vision, consistency 2. Articulation bu siness models 3. Commitment 4. informed 5. Delegate and empower 6. Smart use of power 7. Emotional intelligence Enablers of strategy deployment - CORRECT ANSWER -1. *Aligning organisational units* with the strategic direction 2. *Aligning individual behav iour* with strategic direction 3. Strategic *initiatives* 3 components of strategy deployment - CORRECT ANSWER -1 *Communicating the strategy* 2 *Organisational learning and adaption* 3 *Resource allocation* REASONS FOR IMPLEMENTATION FAILURE - CORRECT ANS WER -1. New strategy was formulated but was *not implemented*, 2. Implemented in such a way that the implementation was *incomplete * 3. Strategic objectives were *not attained* 4. Or the implementation was *unacceptable *to key *stakeholders*. 5. Strategi c *objectives* are *too complex* or *poorly understood*, lack consistency and do not provide clear future direction to members of the organization that have to* implement them,* 6. *Poor change management *and the resulting misalignment of the various elements of the organization. The* Icarus Paradox*: organizations *dwell on past *successes, losing sight of and not adapting to changing market realities and changed requirements for competitive advantage to cope with new realities, which leads to failure Why change programs fail - CORRECT ANSWER -*Death by planning: * To much time on planning, teams are constituted to examine the problems, focus is on discourse instead of actual de livery of change *Loss of focus * change can take time over many years then initiatives are seen as rituals & change program was never clearly communicated *Reinterpretation * existing behaviors are so strong that change initiatives are reinterpreted acc ording to old behaviors to fit within the expected norms of behavior & conduct *Disconnectedness * organizational members affected by change may not see the change as relevant to their realities *Behavioral compliance - * some people comply with change de spite not buying into the change program *Misreading scrutiny & resistance - * some people resist change but if concerns are ignored it could increase resistance *Broken agreements & violations of trust - * if leaders fail to honor undertakings, they will lose trust & respect and ↑resistance What is Organizational architecture - CORRECT ANSWER -is an *integrated strategic response (blueprint)* that draws together the* key dimensions and strategic planning* and implementation components of the organisation ( such as organisational structure, leadership, organisational culture, policies and strategies) to* guide strategic planning and implementation.* 1 Comment on the importance of strategy implementation as a component of the strategic management process. (5) - CORRECT ANSWER -The importance of strategy implementation in strategic management process is more about creating change that is timely and appropriate. Organisations could in the past make incremental changes to keep pace, but change is increasingly revolutionary and disruptive. Organisations have to deal with products being made obsolete in a very short space of time, and products have shor ter life cycles. Moreover even if they are the leading competitor the disruption may come not from the competitors in the same industry, but from organisations in other industries that have a business model that is unexpected. Overall strategic change that is not managed well will have little value if plans are not implemented timely. As plans themselves may be obsolete by the time a strategic plan is implemented. Discuss five (5) reasons why strategy implementation in an organisation might fail. (5) - CORR ECT ANSWER -9/10 organisations fail to implement strategy successfully. Vision Barrier. Only 5% of the workforce understands the vision and strategy. Management Barrier. 85% of top management teams spend less than an hour on strategy. People Barrier. Only 2 5% of managers have rewards linked to strategy. Resource Barrier. 60% of organisations do not link budgets to strategy. Other reasons why strategy implementation might fail include: Inadequate resources.