Learning Outcomes:

1.Recognize the basic concepts and terminology used in Strategic Management. CLO-1

2.Describe the different issues related to environmental scanning, strategy formulation, and strategy implementation in diversified organizations. CLO-2

Assignment Question(s):

Based on reading and understanding the basic concepts of strategic management in Chapter 01, answer the following:

Q.1 What is ‘strategy formulation’? Explain your answer alongside a discussion of mission, vision and objectives of a local/ international company. (4 Marks)

Q.2 What are benefits of strategic management for market competition? develop a discussion of these benefits alongside a local/ international example of a company. (3 Marks)

Q.3 What is the impact of sustainability on business practice? Discuss with a suitable example. (3 Marks)

Q.4 Define strategic flexibility and explain its implications. Why is organizational learning important to the long-term development of strategic flexibility of organizations that intend to enter overseas markets? (5 Marks)

Use concepts from the Chapter in your textbook and at least three relevant academic sources to support and develop arguments for your answers.

Answers

1. Answer Q.1

2. Answer Q.2

3. Answer Q.3

4. Answer Q.4