MNG3701 Strategic Management (MNG3701)

MNG3701-Strategic Management EXAM PACK 2022. 1. Knowledge vs. Understanding Knowledge is when only theory is provided, which will account for 50% mark allocation. Students are required to demonstrate an understanding the concept by showing how it is/could be applied in practical context 2. Critical Thinking There is a difference between “Discuss and Critically discuss”. To be critical entails “the judgement of the value of the concept, justification of its use in context”. 3. Writ...

MNG3701-Strategic Management Latest Updated Questions And Answers 2022. 1/3. Critically differentiate between the concepts of strategy, strategic planning & strategic management. Important question (10) Strategy: Long-term direction of the organisation. A pattern, in a stream of decisions, the way organisations achieves its objectives. It’s a choice of deliberate activities made in order to achieve a competitive advantage for the organisation. Strategic planning / strategy formulation: ...

MNG3701-Strategic Management EXAM PREP FOR 2022.1. Critically differentiate between the concepts of strategy, strategic planning and strategic management. Strategy Strategy is the art of aligning the company’s strategies in order to out-compete one’s competitors in a rival business market with a view to achieving the desired competitive advantage by ensuring that all the relevant departments within the firm are receiving similar information and training. Strategies are incorporated into...

MNG3701-Strategic Management EXAM PACK GRADED A+ LATEST 2022. Define the concept of strategy and briefly explain its relationship to strategic management. Solution Strategy:  It’s generally seen as the result or outcome of fundamentally important pre-emptive, innovative management decisions about an organisation‘s strategic direction and strategic action plans to attain a sustainable competitive advantage and achieve its long-term objectives in rapidly changing and competitive ext...

MNG3701 Questions And Answers 2022. This is an all-inclusive guide to MNG3701 - Strategic Management Critically differentiate between the concepts of strategy, strategic planning & strategic management. Important question (10) Strategy: Long-term direction of the organisation. A pattern, in a stream of decisions, the way organisations achieves its objectives. It’s a choice of deliberate activities made in order to achieve a competitive advantage for the organisation. Strategic planni...

MNG3701 EXAM PREPARATION. MNG3701 - Strategic Management Critically differentiate between the concepts of strategy, strategic planning and strategic management. Strategy Strategy is the art of aligning the company’s strategies in order to out-compete one’s competitors in a rival business market with a view to achieving the desired competitive advantage by ensuring that all the relevant departments within the firm are receiving similar information and training. Strategies are incorporat...

MNG3701 EXAM PACK 2022.This is an all-inclusive guide to MNG3701 - Strategic Management Define the concept of strategy and briefly explain its relationship to strategic management. Solution Strategy:  It’s generally seen as the result or outcome of fundamentally important pre-emptive, innovative management decisions about an organisation‘s strategic direction and strategic action plans to attain a sustainable competitive advantage and achieve its long-term objectives in rapidly...

MNG3701 STUDY SUMMARY NOTES And EXAM PREPARATION. This document is a complete and an all-inclusive guide to MNG3701 - Strategic Management SSTRATEGY Strategy can be defined as the direction provided by the actions and decisions of strategists in pursuit of organisational goals . It encompasses a set of actions an organisation takes to create competitive advantage. It is the longterm direction of the organisation – the things the business does, the paths it follows and the decisions it ta...

MNG3701 LATEST EXAM PACK. This is a complete and an all-inclusive guide to MNG3701 - Strategic Management A competitive advantage occurs when a significant number of buyers prefer the company's products or services over those of its competitors and when the basis for this preference is sustainable over the long term it’s called a sustainable competitive advantage Sustainable competitive advantage For a competitive advantage to be sustainable, there must be requirements: valuable, rare, t...