MNG3701 (Strategic Planning IIIA) EXAM 2026
WITH VERIFIED QUESTIONS AND ANSWERS
Topic 1: Strategic Management Fundamentals
1. What is strategic management?
A set of managerial decisions and actions that determines the long-term
performance of an organisation. It includes environmental scanning, strategy
formulation, strategy implementation, and evaluation and control. It aims to
create sustainable competitive advantages and achieve organisational objectives
while maximising stakeholder wealth .
2. What are the three main stages of the strategic management process?
Formulation (strategic planning), implementation (action stage), and
evaluation/control (checking stage) .
3. Differentiate between strategic planning and strategy implementation.
Strategic planning is the thinking stage: it starts with vision and mission
statements, conducts internal and external environmental analyses, formulates
long-term goals, and selects strategies. Strategy implementation is the action
stage where chosen strategies are executed through various drivers and
instruments .
4. What is "strategic myopia"?
A short-sighted focus on immediate issues at the expense of long-term strategy .
5. What is an "emergent strategy"?
A pattern of action that develops over time without explicit planning, as
opposed to a deliberate strategy .
6. According to Michael Porter, what is the essence of strategy?
Choosing to perform activities differently from rivals .
7. What is strategic alignment?
Ensuring that all activities, resources, and processes in an organisation are
coordinated and directed towards achieving strategic goals .
,8. What is a competitive advantage?
A unique edge that allows an organisation to outperform its competitors by
producing goods or services better or more cheaply than rivals .
9. What are the three levels of strategy in an organisation?
Corporate-level strategy (what businesses to be in), business-level strategy (how
to compete in each business), and functional-level strategy (how to support
business-level strategy) .
10. What is the primary purpose of strategic planning?
To establish long-term goals and the means to achieve them .
11. What is "strategy-as-practice"?
A concept focusing on what strategists actually do—the micro-level activities,
tools, and interactions that shape strategy formation .
12. Differentiate between deliberate and emergent strategy.
Deliberate strategy is intentionally planned and executed; emergent strategy
arises from unplanned patterns of action that develop over time .
13. What is "responsible competitiveness"?
A form of competitiveness that achieves competitive advantage while ensuring
above-average responsible business performance, considering social, economic,
and environmental impacts .
14. How does responsible competitiveness differ from irresponsible
competitiveness?
Responsible competitiveness considers ethical, social, and environmental
impacts; irresponsible competitiveness neglects these considerations in pursuit
of profit .
15. What is the role of a "social craftsperson" in strategic management?
Integrating different expectations from various stakeholder groups and being
sensitive to tensions that may arise in reaching common ground .
16. What is the role of an "artful interpreter" in strategic management?
Having enough understanding to interpret the strategic context and
communicate it effectively .
17. Who are the "strategic planning champions"?
Individuals involved in the strategic management process, including social
craftspeople, artful interpreters, and other actors who shape strategy .
, 18. What is the relationship between MNG3701 and MNG3702?
MNG3701 (Strategic Planning) precedes MNG3702 (Strategy Implementation
and Control). MNG3702 builds on MNG3701 .
19. What is a "non-human actor" in strategy-as-practice?
Tools, dashboards, and other material artefacts that shape how strategy is
formulated and enacted .
20. What is "strategic resilience"?
The capacity of an organisation to anticipate, prepare for, respond to, and adapt
to incremental change and sudden disruptions to survive and prosper .
21. What is the concept of "strategy in context"?
Applying strategic concepts appropriately to meet objectives while considering
the specific organisational and environmental context .
22. What is the difference between strategy formulation and strategy
execution?
Formulation involves deciding what to do; execution involves doing it .
23. Why is strategic management considered a continuous process?
Because environmental conditions change constantly, requiring ongoing
scanning, adaptation, and re-evaluation .
24. What are the benefits of strategic management?
Improved long-term performance, better alignment of resources, enhanced
competitive positioning, and increased stakeholder value .
25. What are the risks of not engaging in strategic planning?
Strategic drift, loss of competitive advantage, inability to anticipate threats, and
reactive rather than proactive decision-making .
Topic 2: Vision, Mission, and Strategic Direction
26. What is a vision statement?
A statement that describes what an organisation aspires to become in the future,
providing direction and inspiration .
27. What question does a vision statement answer?
"What do we want to become?" .
28. What is a mission statement?
A statement that defines the organisation's purpose and scope of operations,
answering "Why do we exist?" .
WITH VERIFIED QUESTIONS AND ANSWERS
Topic 1: Strategic Management Fundamentals
1. What is strategic management?
A set of managerial decisions and actions that determines the long-term
performance of an organisation. It includes environmental scanning, strategy
formulation, strategy implementation, and evaluation and control. It aims to
create sustainable competitive advantages and achieve organisational objectives
while maximising stakeholder wealth .
2. What are the three main stages of the strategic management process?
Formulation (strategic planning), implementation (action stage), and
evaluation/control (checking stage) .
3. Differentiate between strategic planning and strategy implementation.
Strategic planning is the thinking stage: it starts with vision and mission
statements, conducts internal and external environmental analyses, formulates
long-term goals, and selects strategies. Strategy implementation is the action
stage where chosen strategies are executed through various drivers and
instruments .
4. What is "strategic myopia"?
A short-sighted focus on immediate issues at the expense of long-term strategy .
5. What is an "emergent strategy"?
A pattern of action that develops over time without explicit planning, as
opposed to a deliberate strategy .
6. According to Michael Porter, what is the essence of strategy?
Choosing to perform activities differently from rivals .
7. What is strategic alignment?
Ensuring that all activities, resources, and processes in an organisation are
coordinated and directed towards achieving strategic goals .
,8. What is a competitive advantage?
A unique edge that allows an organisation to outperform its competitors by
producing goods or services better or more cheaply than rivals .
9. What are the three levels of strategy in an organisation?
Corporate-level strategy (what businesses to be in), business-level strategy (how
to compete in each business), and functional-level strategy (how to support
business-level strategy) .
10. What is the primary purpose of strategic planning?
To establish long-term goals and the means to achieve them .
11. What is "strategy-as-practice"?
A concept focusing on what strategists actually do—the micro-level activities,
tools, and interactions that shape strategy formation .
12. Differentiate between deliberate and emergent strategy.
Deliberate strategy is intentionally planned and executed; emergent strategy
arises from unplanned patterns of action that develop over time .
13. What is "responsible competitiveness"?
A form of competitiveness that achieves competitive advantage while ensuring
above-average responsible business performance, considering social, economic,
and environmental impacts .
14. How does responsible competitiveness differ from irresponsible
competitiveness?
Responsible competitiveness considers ethical, social, and environmental
impacts; irresponsible competitiveness neglects these considerations in pursuit
of profit .
15. What is the role of a "social craftsperson" in strategic management?
Integrating different expectations from various stakeholder groups and being
sensitive to tensions that may arise in reaching common ground .
16. What is the role of an "artful interpreter" in strategic management?
Having enough understanding to interpret the strategic context and
communicate it effectively .
17. Who are the "strategic planning champions"?
Individuals involved in the strategic management process, including social
craftspeople, artful interpreters, and other actors who shape strategy .
, 18. What is the relationship between MNG3701 and MNG3702?
MNG3701 (Strategic Planning) precedes MNG3702 (Strategy Implementation
and Control). MNG3702 builds on MNG3701 .
19. What is a "non-human actor" in strategy-as-practice?
Tools, dashboards, and other material artefacts that shape how strategy is
formulated and enacted .
20. What is "strategic resilience"?
The capacity of an organisation to anticipate, prepare for, respond to, and adapt
to incremental change and sudden disruptions to survive and prosper .
21. What is the concept of "strategy in context"?
Applying strategic concepts appropriately to meet objectives while considering
the specific organisational and environmental context .
22. What is the difference between strategy formulation and strategy
execution?
Formulation involves deciding what to do; execution involves doing it .
23. Why is strategic management considered a continuous process?
Because environmental conditions change constantly, requiring ongoing
scanning, adaptation, and re-evaluation .
24. What are the benefits of strategic management?
Improved long-term performance, better alignment of resources, enhanced
competitive positioning, and increased stakeholder value .
25. What are the risks of not engaging in strategic planning?
Strategic drift, loss of competitive advantage, inability to anticipate threats, and
reactive rather than proactive decision-making .
Topic 2: Vision, Mission, and Strategic Direction
26. What is a vision statement?
A statement that describes what an organisation aspires to become in the future,
providing direction and inspiration .
27. What question does a vision statement answer?
"What do we want to become?" .
28. What is a mission statement?
A statement that defines the organisation's purpose and scope of operations,
answering "Why do we exist?" .
