Exam (elaborations)
MNM2604 - ASSESSMENT 1 - EXPECTED QUESTIONS AND ANSWERS - SEMESTER 2 - 2024
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2024 – S1 – MNM2604 – ASSESSMENT 1 – Q&AAssessment 1
Started on Friday, 12 April 2024,
State Finished
Completed on Friday, 12 April 2024,
Time taken
Grade 15.00 out of 15.00 (100%)
Question 1
Which step in the evaluation and control process of strategic planning process deals with
determining how actual results compare with planned results?
a.
Step 3
b.
Step 5
c.
Step 3
d.
Step 4
Correct answer
Feedback
Your answer is correct.
Option B is incorrect because step 5 deals with taking the necessary corrective action.
Option C is incorrect because step 3 deals with obtaining and analysing data. Option D is
1
, 2024 – S1 – MNM2604 – ASSESSMENT 1 – Q&A
incorrect because step 2 deals with setting performance standards. See page 58 in the old
textbook/ page 64 in the 2nd Edition textbook
The correct answer is:
Step 4
Question 2
Which ONE of the following statements is INCORRECT?
a.
Strategic planning is a formalised process that involves strategic thinking, creativity,
coordination, and communication
b.
Strategic management and formulating the organisation’s strategy is one and the same
thing.
Correct answer
c.
Strategy is used in business to indicate how business plans to attain its objectives.
d.
Strategic management describes the decision-making process that supports the formulation
and implementation of strategy
Feedback
Your answer is correct.
Answer Key is option A. Strategic management is management’s main task of determining
the direction the business should move.
2
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