BMNG5122: Introduction to Strategic Management

What are the 3 key questions to ask when looking at an organisation through the lens of strategic thinking?

• Where are we now?

• Why are we here?

• Where do we want to be?

• How are we going to get there?

Which of the following statements are possibly a definition for strategic management?

• "The long-term guidance leaders in an organisation provides to employees."

• "The continuous upgrade of structures within the business to enhance performance."

• "The ongoing process of developing, implementing and monitoring appropriate strategies."

Ms Cooper had a growing property renting business in early 2020. When the lockdowns started, many of her tenants could not pay their lease. What should she consider in terms of her strategy?

• Force payment from the tenants.

• Adapt to the change and reassess her organisational startegy.

• Think only of short-term gain and not consider her company's overall vision.

When Ms Cooper establishes her property company, what is the first step she needs to consider in her strategic journey?

• Strategic direction.

• The ultimate strategy.

• The strategic objectives.

• Strategic control.

Fill out the blank: "Organisations, just like people, have to ___ to change continuously as a result of the changing demands of consumers and competition from other organisations for market share."

What is the following statement an example of?

"We serve with our hearts we create a great place to be with our minds we create an excellent place to shop" (PicknPay, 2018).

• Objective

• Vision

• Strategic direction

• Mission

What is the following statement an example of?

"to increase throughput of head office support processes by 30% by the end of the 2021 financial year" (Capitec Bank, 2020).

• Objective

• Vision

• Strategic direction

• Mission

What is the following statement an example of?

“To be a great business, helping to create a better world” (The IIE, 2021).

• Objective

• Vision

• Strategic direction

• Mission

Which 2 elements sets the strategic direction?

• Vision

• Objectives

• Strategy

• Mission

Which 3 environments must a business assess continually?

• Market

• Macro

• Competitor

• Supplier

• Micro