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Chapter 1
1 Why has strategic management become so important to today’s corporations?

Importance of Strategic Management Strategic management is an

important aspect of an organization which helps in becoming a successful
firm. Furthermore, it also assists in making effective strategies and plans
which will help the management to take appropriate decisions for the firm
(Strategic Management, 2016). Through this, it will enhance profitability of
the business.

2. How does strategic management typically evolve in a corporation?

Strategic management typically evolve in a corporation Strategic
management can be evolved in a corporation through assisting their
specific knowledge and competencies. It will also solve the issues of
corporation systematically. Moreover, it will give a chance to the firm to
experiment with new approaches. Strategic management assists in
spreading knowledge rapidly and expeditiously to all their employees. Find
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3. What is a learning organization? Is this approach to strategic management better than the more traditional top-
down approach in which strategic planning is primarily done by top management?
Learning organization Learning organization can be defined as the firm
which is skilled at creating, acquiring, and transferring knowledge as well as
reflecting new knowledge and insights of the business. Yes, this approach is
better than the more traditional top–down approach because in that, all
the decisions are taken by the top management and lower management
can't able to take participate in it.
4. Why are strategic decisions different from other kinds of decisions?
Strategic decisions different from other kinds of decisions Strategic
decisions are different from others because these deal with the long term
future of the firm. These decisions are rare and typically have no precedent
to follow. These decisions need commitment from all employees and
significant resources. Strategic decisions are of directive which are set
according to future action.

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Chapter 2

1. When does a corporation need a board of directors?

A corporation needs a board of directors at the time of setting corporate

strategy, mission and vision. The other aspects can be controlling and
monitoring the top management (Salem Khalifa, 2012). The directors can
help in reviewing and approving the use of resources which are used in the
organization. Moreover, they also care about the shareholder’s interests.

2. Who should and should not serve on a board of directors? Define

environmentalists or union leaders

The directors should have relevant industry experience, strategic and

problem-solving skills as well as other effective skills. The directors who do
not constitute these types of skills so they cannot be served as a board of
directors. The environmentalists and union leaders work for the economy
to have good investment which caters more profitability.

3. Should a CEO be allowed to serve on another company’s board of

directors?

No, this can't be possible if CEO is serving another company's board of

directors. This is because, CEO articulates a strategic vision for a firm which
can't be set for other company. CEO has to deal with strategic management
in which he has to provide executive leadership and effective vision for the
organization (Bettis and et.al., 2015). The other responsibility is managing
the strategic planning process of the corporation.
4. What would be the result if the only insider on a corporation’s board
were the CEO Insider directors are the management directors which are
typically the officers or executives who are employed by the corporation.
According to the survey, if there are more insiders then there will be biased
management performance objectively in the firm. If insiders are more
preferable then they will be less effective in terms of interest, availability
and competency.

5. Should all CEOs be Transformational Leaders Transformational leaders

can be defined as those who manage the regular operations and create
strategy for the company's department. So, CEO should be
transformational leaders so that he can be able to motivate and collaborate
with staff to accomplish the organizational goals (Eden and Ackermann,
2013). To motivate the employees, management provides growth
opportunities and incentives.

Chapter 3

1. How development in a corporation’s natural and societal environments

can affected Development in environmental scanning can be affected in
long term to ensure that there should be good relationship between the
environmental scanning and profitability. This influences long term
decisions which help in different factors like economic, technological,
political, legal and societal. These all factors help in short run activities
which can influence the long run decisions.

2. What determines the level of competitive intensity in an industry

According to Porter, Competitive intensity in the particular industry is
useful to characterize the various competitors for predictive purposes. The
firm which is based on common strategic orientation and combination of
culture, structure and processes with a consistent is known as competitive
intensity (Swayne, Duncan and Ginter, 2012). At the time of hyper
competition, this competency intensity level is required.

3. According to Porter’s discussion of industry analysis, is Pepsi Cola a

substitute for Coca-Cola Yes, Pepsi Cola can become the substitute for
Coca-Cola because if the products are giving same features in same prices
then people can take Pepsi cola as substitutes. Porter also states that Pepsi
Cola has to analyse the industry situation and provides customers with
better products to satisfy them.

4. How can a decision maker identify strategic factors in a corporation’s

external international environment Decision maker will be able to identify
the strategic factors through analysing various aspects such as rivals,
suppliers, regulations etc. In this, decision maker has to consider the
present and future environmental opportunities as well as threats. This
helps the managers to know about firm's feasibility and to create effective
decisions for the firm. 5. Comparing and contrasting trend extrapolation
with the writing of scenarios as forecasting techniques There are various
techniques which are used for forecasting the future situations in the
forecasting techniques. The extrapolation can be referred as the extension
of present trends into the future. This technique has assumption that there
is consistency in the work and which changes according to the short term
process (Compare and contrast forecasting methods, 2016). Whereas, it is
depended on the historical aspects in which there are different variables
that change the direction of trend.

Chapter 55

1. What is the relevance of the resource-based view of the firm to strategic

management It is necessary to have a resource based view in the firm
because it identifies and classifies the firm's resources in terms of strengths
and weaknesses. Secondly, it converts strengths into capabilities and core
competencies. Thirdly, to select the strategy which matches the best with
the external opportunities, it analyses the resource gaps and invests more
on upgrading weaknesses.

2. How can value-chain analysis help identify a company’s strengths and

weaknesses Value chain analysis helps in identifying a firm's strengths and
weaknesses available in the profit margin at that time. By analysing the
whole product, there are various types of level of expertise which help in
identifying the strengths and weaknesses of the business enterprise
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3. In what ways can a corporation’s structure and culture be internal

strengths or weaknesses Corporation's structure and culture play an
important role in the organization. If there are effective structure then firm
can effectively allocate tasks at given time frame. The culture should be
feasible so that staff will be able to communicate with each other and
share their views as well as ideas for the betterment of the company.

4. The pros and cons of management’s using the experience curve to

determine the strategy The experience curve shows the relationship
between the production cost and cumulative production quantity. The pros
of this curve are labour efficiency, standardization, technology driven
learning, utilization of equipment, product redesign, cost effective etc. On
the other hand, the cons of experience curve is economies of scale which
can't able to differentiate by the scale of production and it is very risky
(Sarros, and et.al., 2011).

5. How might invest in current known technology? What factors might

encourage or discourage There should be an investment in current known
technology and also in new technology because it will help in designing and
managing the flow of information which will improvise in productivity and
decision making. Furthermore, it will enhance performance of the company
and will encourage employees to remain motivated and provide better
productivity.

Chapter 5

1. What industry forces might cause a propitious niche to disappear There

are some forces which may cause a propitious niche to disappear and
several core competencies which take advantages of a particular market
opportunity. This is the need which is currently unsatisfied and not
challenged by the internal and external environment. The other forces can
be quality culture, financial position, global positioning and international
orientation (Qin and et.al, 2013).

2. Is it a cost leadership strategy and a differentiation strategy runs

simultaneously? Why? Yes, both strategies can run simultaneously in the
company and this is because both the strategies are focussing on broad
mass market so they are able to incur the revenues as well as provide
unique products. The only difference between these is focusing on two
different aspects that are pricing and variations in the products
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Formatting Free Reference Page 3. Is it possible for a company to have a
sustainable competitive advantage in hyper-competitive It is difficult to
have sustainable competitive advantage in the hyper-competitive world for
the long term. This is because market stability comprises of short product
life cycle, product designs, new technologies which require lot of
continuous improvement. In hyper-competitive market, it will not enough
to have the lowest cost competitor (Pesonen and Horn, 2013). 4. What are
the advantages and disadvantages of being a first-mover The company who
firstly sells a new product or service is known as first mover. Advantage of
this is to establish reputation as an industry leader, cost leader etc.
Whereas, disadvantages are temporarily high profits, lack of technology
etc. Example of first mover firm is Netscape and late mover of this is
Internet Explorer. Yes, both were successful in their times but evolving of
technology changed the perceptions of customers. 5. Why are many
strategic alliances temporary Many of the strategic alliances are temporary
because to obtain or learn new capabilities, to obtain access to specific
markets, to reduce financial risk and helpful in reducing the political risk.
These are the reasons which state that strategic alliances are made on
temporary basis.

Chapter 6

1. How does horizontal growth differ from vertical growth as a corporate

strategy Horizontal growth is all about extending its operations in other
geographic locations with different products and customers. On contrary to
this, vertical growth can be accomplished by taking over a function
previously provided by supplier which may help in reducing the costs,
gaining control over scarce resources, accessing to potential customers etc.
(Price, 2012). Whereas, concentric diversification is the strategy which is
used for strong competitive position but industry attractiveness is low. 2.
What are the trade-offs between an internal and an external growth
strategy Internal growth strategy considers external acquisitions, mergers,
and strategic alliances. While an external strategy is done on the basis of
competitors and environmental analysis. For international entry strategy,
external strategies are suited as the best because the internal strategy has
failed in satisfying the customers.

3. Is stability really a strategy or just a term for no strategy Stability is a

strategy because it helps in predicting the environment and providing
success to the firms. This strategy is helpful in short term but it can be
dangerous if it is followed for long term (Matheson, 2011.). These stability
strategies comprise of caution strategy, no change strategy and profit
strategy.

4. Comparing and contrasting SWOT analysis with portfolio analysis SWOT

analysis is all about designing the product and market segmentation that
helps in analysing the opportunities and strengths, identifying the market
environment and making strategy according to that. However, Portfolio
analysis encourages top management to evaluate and set the objectives,
graphic depiction etc. that are done for the communication.

5. How is corporate parenting different from portfolio analysis Corporate

strategy can be defined as an examination of business unit in terms of
strategic factors, performance improvisation and analysing of the parent
corporation which fits in the business unit. Whereas, portfolio is all about
developing, monitoring, coordinating and establishing the alliances in a
firm. Yes, corporate parenting is a useful concept in the global industry.

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