These guidelines are provided as part of in-class discussion for pre-exam review for Strategic

Management. It is NOT recommended for off-class self reading as many additional points will b e

mentioned in class. It is also NOT to be considered as a spotting document. All candidates need

to read the chapters and lecture notes fully before attempting the examination. Good luck..

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Geoffrey da Silva

The format of the exam (2 hours)

Section A :MCQ 10 questions 2 marks each. Can be taken from any topic of the course. Should practice the MCQ shown in the RMIT BB coming from Strategy Lab. I have already advised you how to access this during my earlier lecture.

Section B : Essay Question (from any area of the course). Answer TWO questions out of Three provided. 20 marks x 2 = 40 marks.

The exam is marked out of 60.

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Preparation

First priority – the TEXT

Second – read up the PWPT slides from me

Get ready in your file all the case studies and examples that you are supposed to read up and prepare

Also can use selectively inputs from your paired assignment case company but the example cannot be used throughout both the essay questions as your sole example!

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Comments on the style of essay questions

The questions will not be straightforward so don’t expect easy definition or write short notes type of questions.

Considering the time allocated, you can spend around 45 minutes answering each question (assuming you take half an hour to do the 10 MCQ).

Therefore for 45 minutes your answer length could be between 7-8 pages PER question (not including diagrams.

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Questions at the end of my lecture notes

Read for understanding the practice exam questions at the end of each of my lecture notes

No need to write out detailed model answers

BUT try to do skeleton answers

They key points

How your answer will be framed (key headings) and points

Relevant EXAMPLES and Cases to use for each of the topics – these cases should have been prepared earlier during your reading of the text and well as the examples I had asked you to get ready from the start of this course in relation to ASIAN companies

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Essay Questions

Dr Huang / Dr Ling will post a set of Review Questions on BB. Check these questions and work out the framework answers with your group.

I will not be providing answers

Use the text closely to extract relevant points

Examples and case studies need to be well-integrated into your answers. Pure theoretical discussion will never secure a distinction.

Essay questions are often based on issues of discussion on topics that are correlated.

Example how do you see the relationship between ethics and formulation of corporate strategy

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Important Note: The Correct Approach to Writing the Essay Questions on SM

As advised by RMIT teaching team (see the official guidelines posted on BB by RMIT coordinator)

describe the concepts involved in each essay question to show your understanding of the concept (s) and/or theories;

–explain how these concepts, theories or managerial techniques can be used in practice. You need to provide example(s) selected from case study, assignments, personal experience, and/or media reports, to demonstrate such practical applications;

–provide critical comments on the pros (benefits) and cons (limitations) in applying these concepts, theories, and/or analytical tools to business organisations

7 BUSM 3200- Strategic Management (April 2013) GDS

(Make sure you cover all materials in the text and Lecture Notes)

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Chapter One - Introduction

Defining Strategy

Levels of Strategy

Elements of strategy – mission, vision, objectives, scope and advantage

Three branches of strategy – context, content and process

The Exploring Strategy Model – Strategic Position, Strategic Choices and Strategy in Action (read up the summary of each area; good for overview)

Strategy Lenses (read the appendix)

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Chapter Two – The Environment

PESTEL – what is it used for

The Five Forces Model : learn all the forces and show how it is linked to PESTEL

See pages 61-62 : Implications and key issues

Also prepare to link (later) the 5 Forces to the Business Strategies

The Industry Life Cycle

Strategic Groups – use of the model

Blue Ocean Thinking

PESTEL gives rise to Opportunities and Threats

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Chapter Three: Strategic Capabilities

What is RBV

Resources and Capabilities

VRIN (learn all)

The Value Chain and the Value Network

Summing up with external and internal chapter- topic of SWOT

How to develop capability in developing of People (note the strategic importance of people as a key strategic resource)

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Chapter Four – Strategic Purpose

Importance of Mission and Vision

Objectives – purpose and types of objectives

Corporate Governance

Shareholder versus Stakeholder models of Governance

Social Responsibility and Ethics

Note – questions have come up in the past asking the link between SR/E and Strategic Management

Stakeholder Expectations

Influence of power in strategy (between the different internal and external stakeholder groups)

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Chapter Five – Culture and Strategy

Not an easy chapter; many areas are not critical

Go straight and read these topics

What is organizational culture (pg 171 onwards)

Culture influence on strategy (pg 174)

The Cultural Web

Just focus on these three areas for this topic

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Chapter Six – Business Strategy

A key chapter: Learn first ALL the THREE Generic Strategies (no spotting!) :cost leadership, differentiation and focus

What these strategies mean

How they are manifested in the different areas of business operations : Here is where you can LINK the business strategy to the VALUE Chain

The advantages and disadvantages of each business strategy

How to link the Business Strategies to the Five Forces Model

The Strategy Clock – just read the key points

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Chapter Six – supporting topics

Just read briefly (overview)

What is Hyper-competition (interactive strategy)

What is Cooperative Strategy?

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Chapter Seven – Corporate Strategy

Corporate Strategy and Diversification

Learn the Ansoff Matrix – Strategic Direction

Learn the difference between Related and Unrelated Diversification

What are the advantages and disadvantages of diversification?

The different types of Portfolio Matrices

Role of Corporate Parent

Also read chapter 7 in conjunction with Chapter 10- mergers and acquisitions

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Chapter Ten- Mergers, Acquisitions and Alliances

What is organic growth compared to M&A&A

The three motives for M&A – strategic, financial and managerial

Definitions, examples, ADV and DISADV off all the main methods – mergers, acquisitions and alliances.

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Chapter Eight- International Strategy

Differences in strategy – international and global

Drivers for global strategy (YIP)

What the benefits and risks of a company pursuing international expansion

Porter Diamond model

The Four International Strategies (see the matrix)

How to apply the PESTEL framework to International Strategy

What the main types and ADV + DISADV of each Market Entry MODE

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Chapter Eleven- Strategy Evaluation

Cover ALL aspects of the SAFe model

What factors are assessed when looking at SUITABILITY FACTOR?

What factors are assessed when looking at ACCEPTIBILITY FACTOR?

What factors are assessed when looking at FEASIBILITY FACTOR?

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Chapter Twelve- Strategy Development Process

Focus on the two broad strategy development approaches – learn the differences and implications

INTENDED STRATEGY

EMERGENT STRATEGY

Learn about the concept of logical incrementalism

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Chapter Thirteen : Implementation and Control

How does structure affect strategy?

What is strategy execution?

How does decision making styles affect strategy implementation?

Types of control systems

Balanced Scorecard

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Chapter Fourteen: Leadership and Strategic Change

The role of the leader / CEO in SM

How does the leader affect strategic change?

What is turnaround strategy?

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Final reminders

Read the question.

Plan the answers.

Expand the theories in detail (you have plenty of time); elaborate the concepts and list factors where required.

Draw relevant diagrams and models.

Give good examples (you should have at least 10-12 examples of good strategy examples from local and international companies; you cant imagine examples in the exam!

All the best!!!

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