Mng3701 exam 2022 - Study guides, Study notes & Summaries

MNG3701 EXAM PREP FOR 2022. 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 the business as the t...

MNG3701 EXAM PACK 2022. MNG3701 - Strategic Management 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”. ...

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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 & EXAM PREP 2022. This is a complete and an all-inclusive guide to MNG3701 - Strategic Management 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 takes in order to reach cer...

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...

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