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BM391

HETAC / LJMU BA (Hons) Business Studies / Marketing / Accounting & Finance / Marketing with Event Management / Business Management / (HRM) / (Law) / (Accounting) / (Marketing) / Financial Services / Business Information Systems
Year 3

AUTUMN 2012 EXAMINATIONS


Module Code:

BM391 Business Strategy Mr. Aidan Finnegan Ms. Ann Masterson Mr. Enda Murphy Colin O Connor
Date: Tuesday, 7th August 2012 Time: 2pm to 5pm

Module Description:

Examiners:

Internal Moderator:

External Examiners:

INSTRUCTIONS TO CANDIDATES

PLEASE PUT YOUR LECTURERS NAME ON YOUR EXAM SCRIPT Time allowed is 3 hours Answer any THREE (3) questions of your choice All questions carry equal marks
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BM391

Students are reminded that they should use relevant literature, conceptual frameworks/models, and case examples, as appropriate, for the purposes of answering questions on this exam paper.
Question 1 Using a suitable model(s) and case examples to illustrate your answer, discuss how small and medium-sized businesses (SMEs) could use the strategic management process to help them cope with the challenges of the current global recession/credit crunch. (33 1/3 marks) Question 2 Bad strategy abounds. Senior executives who can spot it stand a much better chance of creating good strategies. (Prof. Richard Rumelt, 2011) Discuss.

(33 1/3 marks)

Question 3 Strategy Implementation is the most difficult stage of the Strategy Process to manage successfully. (adapted from David, F., 2010) Discuss. (33 1/3 marks)

Question 4 Assess the importance of vision and mission statements in the strategic management process (33 1/3 marks).

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Autumn 2012

BM391

Question 5 Compare and contrast Porters concept of the three generic competitive strategies with Bowmans Strategy Clock (in terms especially of the ability of each to suggest strategic options for acquiring and maintaining competitive advantage). (33 1/3 marks)

Question 6 Companies that address their organizational weaknesses as they implement growth strategies give themselves an advantage. (Dewhurst, Heywood & Rieckhoff, 2011) Discuss.

(33 1/3 marks).

Question 7 Organisation should be wary of becoming a prisoner of their own strategy: even the best strategies become obsolete sooner or later. Regular reappraisal of strategy is essential, and should be a key element of every organisations strategic management process. (Adapted from Lynch, R., 2010) Discuss. (33 1/3 marks)

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Autumn 2012

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