100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
MNG3701 Strategic Planning Exam Pack 2022 R50,00
Add to cart
Quickly navigate to
Preview
  2.  
  3. University Of South Africa (Unisa)
  4.  
  5. MNG3701

Exam (elaborations)

MNG3701 Strategic Planning Exam Pack 2022
 4 purchases

MNG3701 Strategic Planning Exam Pack MNG3701 Strategic Planning Exam Pack 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 ...

[Show more]

Preview 4 out of 112  pages

Document information

  • February 6, 2022
  • 112
  • 2021/2022
  • Exam (elaborations)
  • Questions & answers

Subjects

  • mng3701
  • mng3701 strategic planning exam pack
  • mng3701 strategic planning exam
  • strategy  it’s generally seen as the result or outcome of fundamentally important pre emptive
  • innovative management deci

Written for

All documents for this subject (63)

Seller

avatar-seller
UNISA2022

Reviews received

Content preview

MNG3701 Strategic Planning Exam Pack




Questions And Answers 100% Correct

, IMPORTANT NOTICE

This EXAM PACKAGE highlights key focus areas for MNG3701 for you as a
student in preparation for the examination. It’s compiled from Study Guide,
prescribed textbook, tutorial letter and previous papers. It is therefore NOT A
SCOPE but guidelines that will prepare you for your examination. Please study
it carefully, and treat it as a guideline of how to approach the questions in the
exam




OTHER INFORMATION

This exam pack consist of GENERAL questions that you may come across in
your exam as well as the proposed solutions to previous exam questions
papers were provided. This exam pack consist of 94 pages

, LEARNING UNIT 1

INTRODUCTION TO 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
changing and competitive external business


 is the direction provided by the actions and decisions of strategists in
pursuit of organisational goals.
 a deliberate choice of activities
 coherent narrative about the future direction of the organisation
 provides members of the organisation with a framework to guide their
decision making
 the verbalisation of the organisation‘s aspirations and can inspire, unite
and motivate members of the organisation


Explain what is meant by strategic management and discuss the dynamic
nature of the traditional strategic management process. Define strategy,
strategic planning and strategic management. Illustrate and explain the
strategic management process.



Solution


Strategic management: is a rational approach that organisations use to achieve
strategic competitiveness and competitive advantage. Traditional it draws on
the perspective that the management tasks consists of planning, organising,
leading and controlling. Building on this

, view, the strategic tasks of top management consist of formulation strategy
(planning), implementing strategy (organising and leading) and control

Strategic management can be looked at from a traditional perspective and in a
new perspective (strategy-as-practice)



The traditional perspective is structured and a process as explained below:


1. Strategy Planning/Formulation -The planning and thinking phase, where
top management:


 Decides on the organisation‘s strategic direction and its long-term
objectives (usually found in the vision and mission statement)

 Analyses the organisation‘s external (to identify opportunities and
threats )and internal environments(to identify best resources and
capabilities and the organisation‘s strength and weaknesses)

 Selects appropriate competitive strategies strategic choice
such as focus, differentiation or best cost



2. Strategy Implementation/Execution- it’s the doing part where both human
and non- human factors in the organisation are applied to ensure that the
strategy is executed in line with the devised plans. These are the key
elements to be considered:


 Leadership and culture- a strategic leader must ensure that the culture
of the organisation is aligned with strategic choice
 Implementation competencies- The organisation must ensure that
individuals have the right mix of knowledge, skills and attitudes to
support the strategy
 Learning organisation-The organisation must be a learning organisation
through its staff and be willing to share knowledge
 Systems, policies and procedures- There must be systems such as
reward systems in place to support strategic direction
 Organisational architecture and structure- the organisation needs
appropriate structure to successfully execute the strategy

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying this summary from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller UNISA2022. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy this summary for R50,00. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

64257 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy summaries for 15 years now

Start selling

Recently viewed by you

Package deal ·

(0)

NR 565 :Advanced Pharmacology:NR 565 Package Deal: NR 565 Final Exam: NR 565 Midterm Exam:NR 565 Pharmacology Final Exam :Study Guide: Updated APlus Guide Solutions

Summary ·

(1)

Samenvatting hoorcolleges Network Governance

Exam (elaborations) ·

(1)

Keiser University nur4825 /NUR 4825 PN I & II Quiz #2 answers | Professional Nursing I & II--Quiz #2 Latest Spring 2022

Exam (elaborations) ·

(0)

Final Exam Test 1, Nutrition Final, Spring 2024, Charleston Southern University (CSU) Questions With Complete Solutions

Exam (elaborations) ·

(0)

Liberty University COUC 506 Exam 4 / 202040 Fall 2022 COUC 506- B06 LUO Test Exam 4: Attempt Score 90 out of 100 points

Case ·

(0)

ABS300 Week 4 Journal, Evaluating Professional and Popular Press Self-discovery Assessments

Exam (elaborations) ·

(0)

Test Bank for Basic and Applied Concepts of Blood Banking and Transfusion Practices 3rd Edition

Exam (elaborations) ·

(0)

ATI RN Nursing Care of Children Proctored Exam- (7 Latest Versions).

Exam (elaborations) ·

(0)

Dosage Calculations FINAL Exam Version 2 KEY Question and Answers
R50,00  4x  sold
  • (0)
Add to cart
Added