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Strategic Management Exam #1 Questions and Answers

  • Exam (elaborations)

    Strategic Management Exam #1 Questions and Answers

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    October 2024
    2024/2025
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  • What is strategic management? - Answer--Strategic management examines how actions and events involving top executives, firms, and industries influence and firm's success or failure. Why do we say that the strategic plan is mainly a "resource allocation" document? - Answer-The strategic plan is mainly a "resource allocation" document because it tells a firm how to allocate its limited resources in order to maximize the ability to meet their long-term objectives. What are the ...
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MNG3701 - Strategic Planning - LU3 External Environments. 2 Exam Questions and Answers

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    MNG3701 - Strategic Planning - LU3 External Environments. 2 Exam Questions and Answers

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    October 2024
    2024/2025
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  • Importance of Analyzing the External Environment - Answer--Managers can mitigate threats. -Managers can leverage opportunities. -Gain understanding of potential impacts. -Understand the source / proximity of factors. The PESTEL Model - Answer--Groups environmental factors into six segments: --Political --Economic --Sociocultural --Technological --Ecological --Legal These factors can create: --Opportunities --Threats Political Factors - Answer--Processes & actions of governmen...
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MNG3701 - LU3 case study - SPURCORP - 5 Forces Exam Questions and Answers

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    MNG3701 - LU3 case study - SPURCORP - 5 Forces Exam Questions and Answers

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    October 2024
    2024/2025
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  • Will the 5 forces model help SPURCORP analyze their Macro-Environment or Market Environment? - Answer-Market Environment The Porter's 5 Forces Model is a framework for understanding the _________________ at work in an industry. - Answer-competitiveness Results of analyses should not only guide organizations making strategic decisions pertaining to their industry but also assist in identifying forces relevant ___________ and ____________ which help determine the industry's ___________...
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MNG3701 - Chapter 1 Exam Questions and Answers

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    MNG3701 - Chapter 1 Exam Questions and Answers

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    October 2024
    2024/2025
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  • Purpose of Business Organization - Answer-* To the Entrepreneur it is the profit he makes from his business * To the consumer it is the value of the service or product * To employees it is their salary/wage earned * To an organization it can be selling shares to shareholders Stakeholders - Answer-Any person or group of people that have (or claim to have) an interest in an organization and its activities. Stakeholder Expectations - Answer-* Customers - quality products and good service ...
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MNG 301 Final Exam Questions and Answers

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    MNG 301 Final Exam Questions and Answers

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    October 2024
    2024/2025
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  • Flocculants increase particle size less effectively than electrolytes or cogulants - Answer-F Finer particles are more difficult to dewater than larger particles due to their large surface area - Answer-T 80% - 200 mesh means that 80% of the material is coarser than 200 mesh - Answer-F The role of frothers in flotation is to absorb onto desired particles to make them more hydrophobic - Answer-F thickeners and fillers are both used for dewatering process stream solids but they operate...
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MNG - Exam 1 Questions and Answers

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    MNG - Exam 1 Questions and Answers

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    October 2024
    2024/2025
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  • Individuals' conceptual and decision-making skills - Answer-become more important to them as they grow in the company. Planning includes - Answer-analyzing current situations. The managers at Earth Green Technology are currently developing strategies for the company's new products and setting objectives for its business units. These managers are engaging in the management function of - Answer-planning. Which of the following involves keeping costs low enough so that a company can ...
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MG371 Final Exam Questions with Correct Answers

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    MG371 Final Exam Questions with Correct Answers

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    October 2024
    2024/2025
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  • Managers - Answer-the people responsible for supervising the use of an organization's resources to meet its goals Efficiency - Answer-a measure of how productively resources are used to achieve a goal Effectiveness - Answer-a measure of the appropriateness of the goals that managers have selected for the organization to pursue and the degree to which the organization achieves those goals Four Tasks of Management - Answer- Planning - Answer-process of identifying and selecting appr...
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Marketing Exam Questions with Latest Update

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    Marketing Exam Questions with Latest Update

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    October 2024
    2024/2025
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  • Suppose a restaurant in a small community offers breakfast options 24 hours a day, but none of the competition even offers breakfast options. This would be an example of a(n) ________ benefit. - Answer-differential The concept that under the right circumstances, groups are smarter than the smartest individuals in them is referred to as ________. - Answer-wisdom of the crowds Why is it important to begin establishing your personal brand while you are still in college? - Answer-a personal br...
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MNG3701 Revision notes Strategic Planning (University of South Africa)

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    MNG3701 Revision notes Strategic Planning (University of South Africa)

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  • MNG3701 Revision notes Strategic Planning (University of South Africa) UNISA BCOMPT Accounting, BCOM (General, HR, Industrial Psychology, Finance, Business Management,) COURSE: REVISION: MNG3701 PRESENTER: LYNNE ADDISON HEAD OF DEPARTMENT: LYNNE ADDISON THIS STUDY MANUAL HAS BEEN COMPILED AS A STUDENT AID TO THE MNG3701. IT IS BASED ON THE UNISA STUDY GUIDE AND THE PRESCRIBED TEXT BOOK. PRACTISING STRATEGY A SOUTHERN AFRICAN CONTEXT PEET VENTER (EDITOR) IT SHOULD...
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MNG3701 Assignment 1 (COMPLETE ANSWERS) 2024

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    MNG3701 Assignment 1 (COMPLETE ANSWERS) 2024

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    March 2024
    2023/2024
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  • 1 Comment on the importance of strategy implementation as a component of the strategic management process. (5) - -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 shorter lif...
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