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8015_398_Tt1_Strategic Mgt Qs Flashcards | StudBud

Explore/8015_398_Tt1_Strategic Mgt Qs

8015_398_Tt1_Strategic Mgt Qs

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Questions 9

Answers

1
What is your learning style like?
I need a lot of guidance on the assignments
I like lectures on more basic concepts and theories.
I prefer more case studies than going through concepts in lectures.
I want both theories and some case studies.
2
What is the main objective of strategic management?
Expand market share
Minimize costs
Increase profits
Create competitive advantage
3
Strategic management is only important for large corporations.
False
True
4
What does PESTEL stand for in strategic management?
Planning, Execution, Evaluation
Operations, Sales, Technology
Political, Economic, Social, Technological, Environmental, Legal
Product, Price, Promotion, Place
5
What is a SWOT analysis used for in strategic management?
Assessing internal and external factors
Analyzing market trends
Benchmarking competitors
Developing marketing strategies
6
What is the mission statement for in strategic management?
Define organization's overall purpose and values
Identify target market
Allocate resources efficiently
Set clear objectives
7
What is the role of competitive advantage in strategic management?
Differentiate from competitors
Maximize shareholder value
Improve market share
Optimize operational efficiency
8
Have you set any target for this course? What is it?
A pass is fine.
Just to complete more credits
Learning more about strategic management
I aim at high scores !
9
Have you learnt "Strategic Management" or "Business Strategies" before?
No, but I work in business sector. It'll easy.
Yes, but only very little.
No, that's why I am a bit nervous.
Yes, quite a lot.