Business Strategic Management Essay Questions

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Complete each essay question using only the material found
in book ISBN 978-0-13-416784-8
Concepts of Strategic Management and Cases in Strategic
Management
by Fred David, 15th edition, 2015, Prentice Hall.

1.Distinguish between long-range planning
and strategic planning .Provide examples
to illustrate your point.

2.Identify the pitfalls in strategic
planning for which management should watch out, then pick any five and discuss,
in detail, the strategic implications of this risk.

3.Compare and contrast vision statements with mission
statements. Describe why a mission statement is so important in
the strategic-management process.

4.Identify and discuss 10 external forces that must be
examined in formulating strategies: economic, social, cultural, demographic, environmental,
political, governmental, legal, technological, and competitive. Give examples
of each.

5.Define Competitive Intelligence
(CI) and discuss three ways that CI can be gathered.

6.Explain Porter’s Five Forces Model and its relevance
in formulating strategies. For each
competitive force, discuss one condition that is likely to increase the threat
of that force.

7.Explain how to develop and use an External Factor
Evaluation (EFE) Matrix. Discuss the five steps needed to develop an EFE
Matrix.

8.Explain how to develop and use a
Competitive Profile Matrix.

9.Identify the five basic functions of management, and
describe each function with an emphasis on their
relevance in formulating strategies.

10.First, discuss the importance of financial analysis in
strategic management. Next, discuss the
three separate fronts on which an effective financial ratio analysis is
conducted. Then, discuss the limitations of financial ratio analysis.

11.Describe the purpose and importance
of an Internal Factor Evaluation (IFE) Matrix. Then, discuss the five steps involved in
performing an IFE.

12.What
are the characteristics of effective strategic objectives? Discuss why it is important to clearly state
objectives.

13.The
textbook lists eleven types of strategies. Describe and give examples of each.

14.Define
the three types of integration strategies. Give examples and guidelines for when each is strategically appropriate.

15.Define
the three intensive strategies. Give
examples and guidelines for when each is strategically appropriate.

16.Discuss,
in detail, the SWOT Matrix. Describe
each component of the matrix and discuss its strategic implication. Discuss the use of the SWOT Matrix in
strategic analysis.

17.Compare
and contrast the BCG Matrix and the IE Matrix. What are the benefits and limitations of each?

18.Diagram
and explain the Quantitative Strategic Planning Matrix (QSPM).Describe the
positive features and limitations of this analytic tool.

19.Discuss the differences
between strategy formulation and strategy implementation.

20.Compare and contrast the different types of
organizational structures: functional, divisional, and matrix. Describe each and discuss the advantages and
disadvantages.

21.Although there are many marketing activities that
impact the success or failure of strategy-implementation efforts, three
activities are indicated in the text as being especially important. What are
these three activities? Discuss why they are so important.

22.Discuss
the major R&D approaches for implementing strategies. Discuss guidelines
used to determine whether a firm should conduct R&D internally or
externally.

23.Discuss
Rumelt’s four criteria for evaluating strategies. List and describe each of the three
strategy-evaluation activities.

24.Discuss the four different perspectives related to the
Balanced Scorecard and explain what the Balanced Scorecard attempts to
balance. Identify and explain the
questions that must be asked when using Balanced Scorecard Analysis.

25.Discuss
how business ethics, social responsibility, and sustainability are
interrelated.

26.Discuss the reasons why preserving the environment
should be a permanent part of doing business. Describe a sustainability report.

27.Discuss the potential advantages to initiating,
continuing, and/or expanding international operations.

28.Explain the concept of protectionism. Discuss the role that protectionism plays in
global commerce.

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