MNG2603 ASSIGNMENT 1
[COMPLETE ANSWERS] 2024
SEMESTER 2
1. Question: Explain the main differences between transactional and
transformational leadership.
Answer: Transactional leadership focuses on the exchange between the leader and the
followers, where compliance is rewarded with tangible rewards and non-compliance is met with
corrective actions. It is often concerned with short-term tasks and organizational efficiency. On
the other hand, transformational leadership seeks to inspire and motivate followers to exceed
their own self-interests for the sake of the organization, fostering innovation and change.
Transformational leaders focus on long-term goals and personal development, aiming to
transform their followers' values and beliefs.
2. Question: What are the key components of the SWOT analysis?
Answer: SWOT analysis is a strategic planning tool used to identify and evaluate the Strengths,
Weaknesses, Opportunities, and Threats related to a business or project. The key components
are:
● Strengths: Internal attributes that are helpful to achieving the objective (e.g., strong
brand reputation, skilled workforce).
● Weaknesses: Internal attributes that are harmful to achieving the objective (e.g., poor
location, limited resources).
● Opportunities: External factors that the organization could exploit to its advantage (e.g.,
emerging markets, technological advancements).
● Threats: External factors that could cause trouble for the organization (e.g., economic
downturns, increased competition).
3. Question: Describe the concept of "management by objectives" (MBO).
Answer: Management by Objectives (MBO) is a performance management approach where
managers and employees work together to set, clarify, and agree upon specific objectives within
,an organization. These objectives are then used to evaluate employee performance. The
process involves:
1. Setting specific, measurable goals that align with the company’s strategic objectives.
2. Developing action plans to achieve these goals.
3. Monitoring progress through regular reviews.
4. Providing feedback and adjusting objectives as necessary.
MBO aims to increase organizational performance by aligning individual and organizational
goals, enhancing communication, and improving motivation and accountability.
4. Question: What is the role of a SWOT analysis in strategic planning?
Answer: SWOT analysis plays a crucial role in strategic planning by providing a structured
framework to evaluate an organization's internal and external environments. It helps in:
● Identifying strengths and weaknesses within the organization, which informs internal
strategies to leverage strengths and address weaknesses.
● Recognizing opportunities and threats in the external environment, which helps in
crafting strategies to capitalize on opportunities and mitigate potential threats.
● Facilitating informed decision-making and strategic alignment by offering a clear picture
of where the organization stands and what factors could impact its future.
5. Question: Discuss the significance of stakeholder analysis in project
management.
Answer: Stakeholder analysis is critical in project management because it helps identify and
understand the interests, influence, and expectations of individuals or groups who are affected
by or have an effect on a project. The significance includes:
● Prioritizing Stakeholders: Helps in identifying key stakeholders whose support or
opposition could significantly impact the project.
● Effective Communication: Ensures that communication strategies are tailored to
address the needs and concerns of different stakeholders.
● Risk Management: Identifies potential issues and conflicts early, allowing for proactive
management and mitigation strategies.
● Enhanced Engagement: Promotes stakeholder buy-in and support, which can improve
project success rates and foster positive relationship
1. Question: What is the difference between strategic planning and tactical
planning?
Answer:
● Strategic Planning: Focuses on long-term goals and the overall direction of the
organization. It involves setting broad objectives and deciding on the actions needed to
achieve these goals.
● Tactical Planning: Concerned with short-term actions and implementing parts of the
strategic plan. It deals with the specific steps needed to achieve the strategic goals.
, 2. Question: Describe the concept of "organizational culture."
Answer: Organizational culture refers to the shared values, beliefs, and norms that influence
the behavior and practices within an organization. It shapes how employees interact with each
other and with stakeholders and impacts the overall working environment and organizational
performance.
3. Question: What are the primary functions of management?
Answer: The primary functions of management are:
1. Planning: Setting objectives and determining the best course of action to achieve them.
2. Organizing: Arranging resources and tasks to implement the plan effectively.
3. Leading: Motivating and guiding employees to work towards the organization’s goals.
4. Controlling: Monitoring performance and making adjustments as necessary to stay on
track.
4. Question: What is the purpose of a PEST analysis?
Answer: PEST analysis is used to identify and analyze the Political, Economic, Social, and
Technological factors that might impact an organization. It helps in understanding the external
macro-environmental factors that could influence strategic decision-making.
5. Question: Explain the concept of "competitive advantage."
Answer: Competitive advantage refers to the attributes or capabilities that allow an organization
to outperform its competitors. It could be derived from factors such as cost leadership,
differentiation, or unique resources that provide superior value to customers.
6. Question: What is "benchmarking" in management?
Answer: Benchmarking involves comparing an organization’s processes, performance metrics,
or practices against those of leading organizations or industry standards. The goal is to identify
areas for improvement and adopt best practices to enhance performance.
7. Question: Describe the term "organizational structure."
Answer: Organizational structure defines how job roles, responsibilities, and authority are
distributed within an organization. It determines how tasks are coordinated and how
communication flows between different levels and departments.
8. Question: What is the role of "change management" in organizations?
Answer: Change management involves preparing, supporting, and guiding individuals and
teams through organizational changes. It ensures that changes are implemented smoothly and
effectively, minimizing resistance and maximizing acceptance.
9. Question: What are the key elements of a SWOT analysis?
[COMPLETE ANSWERS] 2024
SEMESTER 2
1. Question: Explain the main differences between transactional and
transformational leadership.
Answer: Transactional leadership focuses on the exchange between the leader and the
followers, where compliance is rewarded with tangible rewards and non-compliance is met with
corrective actions. It is often concerned with short-term tasks and organizational efficiency. On
the other hand, transformational leadership seeks to inspire and motivate followers to exceed
their own self-interests for the sake of the organization, fostering innovation and change.
Transformational leaders focus on long-term goals and personal development, aiming to
transform their followers' values and beliefs.
2. Question: What are the key components of the SWOT analysis?
Answer: SWOT analysis is a strategic planning tool used to identify and evaluate the Strengths,
Weaknesses, Opportunities, and Threats related to a business or project. The key components
are:
● Strengths: Internal attributes that are helpful to achieving the objective (e.g., strong
brand reputation, skilled workforce).
● Weaknesses: Internal attributes that are harmful to achieving the objective (e.g., poor
location, limited resources).
● Opportunities: External factors that the organization could exploit to its advantage (e.g.,
emerging markets, technological advancements).
● Threats: External factors that could cause trouble for the organization (e.g., economic
downturns, increased competition).
3. Question: Describe the concept of "management by objectives" (MBO).
Answer: Management by Objectives (MBO) is a performance management approach where
managers and employees work together to set, clarify, and agree upon specific objectives within
,an organization. These objectives are then used to evaluate employee performance. The
process involves:
1. Setting specific, measurable goals that align with the company’s strategic objectives.
2. Developing action plans to achieve these goals.
3. Monitoring progress through regular reviews.
4. Providing feedback and adjusting objectives as necessary.
MBO aims to increase organizational performance by aligning individual and organizational
goals, enhancing communication, and improving motivation and accountability.
4. Question: What is the role of a SWOT analysis in strategic planning?
Answer: SWOT analysis plays a crucial role in strategic planning by providing a structured
framework to evaluate an organization's internal and external environments. It helps in:
● Identifying strengths and weaknesses within the organization, which informs internal
strategies to leverage strengths and address weaknesses.
● Recognizing opportunities and threats in the external environment, which helps in
crafting strategies to capitalize on opportunities and mitigate potential threats.
● Facilitating informed decision-making and strategic alignment by offering a clear picture
of where the organization stands and what factors could impact its future.
5. Question: Discuss the significance of stakeholder analysis in project
management.
Answer: Stakeholder analysis is critical in project management because it helps identify and
understand the interests, influence, and expectations of individuals or groups who are affected
by or have an effect on a project. The significance includes:
● Prioritizing Stakeholders: Helps in identifying key stakeholders whose support or
opposition could significantly impact the project.
● Effective Communication: Ensures that communication strategies are tailored to
address the needs and concerns of different stakeholders.
● Risk Management: Identifies potential issues and conflicts early, allowing for proactive
management and mitigation strategies.
● Enhanced Engagement: Promotes stakeholder buy-in and support, which can improve
project success rates and foster positive relationship
1. Question: What is the difference between strategic planning and tactical
planning?
Answer:
● Strategic Planning: Focuses on long-term goals and the overall direction of the
organization. It involves setting broad objectives and deciding on the actions needed to
achieve these goals.
● Tactical Planning: Concerned with short-term actions and implementing parts of the
strategic plan. It deals with the specific steps needed to achieve the strategic goals.
, 2. Question: Describe the concept of "organizational culture."
Answer: Organizational culture refers to the shared values, beliefs, and norms that influence
the behavior and practices within an organization. It shapes how employees interact with each
other and with stakeholders and impacts the overall working environment and organizational
performance.
3. Question: What are the primary functions of management?
Answer: The primary functions of management are:
1. Planning: Setting objectives and determining the best course of action to achieve them.
2. Organizing: Arranging resources and tasks to implement the plan effectively.
3. Leading: Motivating and guiding employees to work towards the organization’s goals.
4. Controlling: Monitoring performance and making adjustments as necessary to stay on
track.
4. Question: What is the purpose of a PEST analysis?
Answer: PEST analysis is used to identify and analyze the Political, Economic, Social, and
Technological factors that might impact an organization. It helps in understanding the external
macro-environmental factors that could influence strategic decision-making.
5. Question: Explain the concept of "competitive advantage."
Answer: Competitive advantage refers to the attributes or capabilities that allow an organization
to outperform its competitors. It could be derived from factors such as cost leadership,
differentiation, or unique resources that provide superior value to customers.
6. Question: What is "benchmarking" in management?
Answer: Benchmarking involves comparing an organization’s processes, performance metrics,
or practices against those of leading organizations or industry standards. The goal is to identify
areas for improvement and adopt best practices to enhance performance.
7. Question: Describe the term "organizational structure."
Answer: Organizational structure defines how job roles, responsibilities, and authority are
distributed within an organization. It determines how tasks are coordinated and how
communication flows between different levels and departments.
8. Question: What is the role of "change management" in organizations?
Answer: Change management involves preparing, supporting, and guiding individuals and
teams through organizational changes. It ensures that changes are implemented smoothly and
effectively, minimizing resistance and maximizing acceptance.
9. Question: What are the key elements of a SWOT analysis?
