Exam (elaborations)
MNG3701 – Exam Prep.
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- University Of South Africa
MNG3701 – Exam Prep. Detailed working, solutions, memo, notes & explanations.
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MNG3701 –Exam Prep.
,"… examination we assess your insight and knowledge, and your ability to apply them. Please work through all the
learning units and all the activities and assessment questions at the end of each learning unit. Study the learning
units in conjunction with the prescribed textbook (the learning units are a wrap-around guide to the textbook). The
learning units will help you develop insight into strategic implementation, while the prescribed textbook will provide
you with the knowledge you need.
You may, however, accept that the types of questions that will be asked in the examination may be derived from the
learning outcomes in the learning units."
master all the learning outcomes of the module specified in your tutorial letter 101/2015/3,
participate in the examination preparation questions on the myUnisa discussion forums,
tutorial Letter 301 offers guidance on how to approach case studies and questions in general.
Herewith follows each study unit with a breakdown of:
- Specific outcomes and assessment criteria (as per tutorial letter 101/2015/3) – Section A.
- Discussion questions (taken from the end of each study unit) – Section B.
- Exam preparation questions (as posted on myUnisa & MNG3701-15-S1-1E tutor group) – Section C.
Format of the May/June 2015 Exam:
Provisional Date: 25 May 2015 @ 08:30
Duration: 2 Hours
Marks: 70
Type of Question: One case study question = 20 marks
Five short theoretical & practical questions not based on case study = 10 marks each
Part 1 must be answers only by students registered in 2015, semester 1 for the MNG3701 module. Part
1 assesses the 2015 module syllabus. Students answering part 1 of the paper must not answer part 2.
We recommend that you do NOT use previous examination papers as part of your examination
preparations, as these papers were based on the previous module outcomes (the questions may not
correspond to the 2015 module outcomes).
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, Study Unit 1
A) Specific Outcomes and Assessment Criteria
Specific outcome 1: Explain strategic management as an innovative approach to managing organisations.
Assessment criteria:
• Define strategy, strategic planning and strategic management. Tutorial Letter 201
• Illustrate and explain the strategic management process. TB Figure 1.1
• Explain the rationale for new perspectives on strategy. SNW summary
• Explain the nature of strategic decisions. SNW summary
• Describe the different levels of strategy in organisations. myUnisa Feedback
• Explain the importance, benefits and risks of strategy. Tutorial Letter 201
• Describe the tests for a winning strategy. myUnisa Feedback
B) Discussion / Self-Assessment Questions
(1) Define the concept of strategy and briefly explain its relationship to strategic management.
(2) Explain what is meant by strategic management and discuss the dynamic nature of the traditional strategic
management process.
(3) Discuss the shortcomings of the traditional process approach to strategic management and identify the new
perspectives on strategic management that have emerged in response to these shortcomings.
(4) Explain the different levels of strategy and decision-making in organisations, and expand on the importance of
strategic decisions in strategic management.
(5) Distinguish between intended, deliberate, emergent and realised strategies.
C) Exam Preparation Questions
1. Critically differentiate between the concepts of strategy, strategic planning and strategic management.
2. Describe the different levels of strategy in an organisation.
3. Critically discuss the importance, benefits and risks of strategy.
4. Describe the tests for a winning strategy.
FEEDBACK ON OUTCOMES BELOW: PAGE 3 TO PAGE 7
SEE ALSO VENTER TEXT BOOK AND STUDY GUIDE FOR ACTIVITIES & PRACTICAL EXAMPLES
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, STRATEGY:
Described as the long-term direction of the organisation, a pattern in a stream of decisions, the means by which
organisations achieve their objectives and the deliberate choice of a set of activities to achieve competitive
advantage. TB p10 OR
Can be defined as the direction provided by the actions and decisions of strategists in pursuit of organisational goals.
TB p10
OR
Generally acknowledged 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 environments.
SG (full) p4
STRATEGIC PLANNING or STRATEGY FORMULATION:
The first phase of an integrated strategic management process, based on the concepts of strategic thinking and
strategy, and comprises the following three main decision stages:SG (full) p5
(1) deciding on the future of the organisation – strategic direction
(2) analysing the organisation's external and internal environments
(3) selecting appropriate competitive strategies – strategic choice
It specifies the strategies that need to be implemented for the achievement of an organisation's long-term objectives
and involves making decisions about the organisation's long-term goals and strategies. "Strategic planning becomes
an ongoing activity in which all managers are encouraged to think strategically and focus on long-term, externally-
oriented issues as well as short-term tactical and operational issues" (Bateman & Snell, 2013:133–135) TB p4
STRATEGIC MANAGEMENT:TB p10 or SG (full) p7-8
Traditionally defined as setting strategic direction, setting goals, crafting a strategy, implementing and executing
strategy, and then, over time, initiating whatever correct adjustments are deemed appropriate. Recent research has
suggested strategy is not a sequential and discrete process; it is a rather more messy, overlapping and iterative
process. It is about how organisations achieve competitive advantage, superior performance and sustainability.
Purpose is to ensure that the organisation applies the following four key elements of a successful strategy:
1. Clear & consistent long-term strategic direction in terms of what the organisation wants to achieve in future.
2. A profound understanding of the competitive environment, to ensure that the organisation is able to align
itself with opportunities and to deal with threats as effectively as possible.
3. An objective knowledge of the key resources and capabilities that the organisation possess, as well as an
understanding of its value for the organisation, to allow the organisation to build on these and develop a
distinct advantage.
4. The proper alignment of the organisation's structure, systems, culture and functional and operational
management to ensure the effective implementation of strategic plans, projects and initiatives.
Strategic management is ultimately about consistently aligning the organisation with its internal and external
environments and involves specifying organisation's objective, developing policies and plans designed to achieve the
objectives
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