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Strategic Management Question Paper Year 2018
Strategic Management Question Paper Year 2019
Strategic Management Question Paper Year 2021
Strategic Management Question Paper Year 2022
Strategic Management Question Paper Year 2023
Strategic Management Question Paper Year 2024
Strategic Management Question Paper Year 2025
Strategic Management Question Paper Year 2026
Solved Answers of 2018
- Define strategic management. (Unit 1: Strategic Management)
↪ Strategic management is the process of formulating, implementing, and evaluating decisions that enable an organization to achieve its long-term objectives and gain a competitive advantage in a dynamic environment.
(or)
Strategic management is an integrated and continuous process through which an organization systematically analyzes its internal and external environment, formulates long-term objectives and strategies, implements them efficiently, and evaluates and controls outcomes to ensure sustained competitive advantage and organizational success. - What are the types of business level strategy? (Unit 1: Strategic Management)
↪ Business-level strategies focus on how a firm competes in a particular market. The main types are:- Cost Leadership Strategy – Becoming the lowest-cost producer in the industry
- Differentiation Strategy – Offering unique products/services valued by customers
- Focus Strategy – Targeting a specific niche market (cost focus or differentiation focus)
- Integrated Strategy – Combining cost leadership and differentiation
- What is organizational culture? (Unit 6: Strategic Options and Choice Techniques)
↪ Organizational culture refers to the shared values, beliefs, norms, and practices that guide the behavior of employees within an organization and influence how work is performed.
(or)
Organizational culture is the deeply embedded system of shared values, beliefs, norms, traditions, and behavioral expectations that shape how members of an organization think, act, and interact, ultimately influencing decision-making, performance, and overall organizational effectiveness. - Write about the diversification culture? (Unit 5: Strategic Options and Choice Techniques)
↪ Diversification is a strategy where a firm enters into new products or markets beyond its current operations.
Purpose: Risk reduction, growth, and better utilization of resources.
Types:- Related Diversification – Entering businesses related to existing operations
Example: A hotel chain that primarily operates luxury hotels decides to start a travel agency and airline catering service. - Unrelated Diversification – Entering completely different industries
Example: A hotel company entering into real estate development or opening a manufacturing business
- Related Diversification – Entering businesses related to existing operations
- Write about the external environmental factors? (Unit 3: External Environment Analysis)
↪ External environment includes factors outside the organization that affect its performance: Factors influencing are: PESTEL, namely;- Political Factors – Government policies, regulations
- Economic Factors – Inflation, interest rates, income levels
- Social Factors – Culture, lifestyle, population trends
- Technological Factors – Innovation, automation
- Legal Factors – Laws and regulations
- Environmental Factors – Climate change, sustainability issues
- What is retrenchment strategy? (Unit 5: Strategic Options and Choice Techniques)
↪ Retrenchment strategy is a defensive strategy where a firm reduces its scope or operations to improve financial performance during poor performance or crisis.
Forms:- Cost cutting
- Divestiture
- Liquidation
- What are the four cells of BCG matrix? (Unit 5: Strategic Options and Choice Techniques)
↪ The BCG Matrix classifies business units based on market growth and market share. The four cells of BCG Matrix are:- Stars – High growth, high market share
- Cash Cows – Low growth, high market share
- Question Marks – High growth, low market share
- Dogs – Low growth, low market share
- What is premise control? (Unit 8: Strategic Evaluation and Control)
↪ Premise control is the process of continuously checking whether the assumptions made during strategy formulation are still valid in the changing environment and taking corrective action if they are not. - Define the term “Strategic evaluation”.(Unit 8: Strategic Evaluation and Control)
↪ Strategic evaluation is the process of assessing the effectiveness of a strategy in achieving organizational objectives and making necessary adjustments. - What is monitoring? (Unit 8 : Strategic Evaluation and Control)
↪ Monitoring is the continuous process of tracking the progress of strategy implementation to ensure that activities are carried out as planned and objectives are being achieved.
(or)
Monitoring is the continuous process of observing and tracking the implementation of strategic activities to ensure they are progressing as planned and meeting expected results. - What is strategy? Explain about the characteristics of strategy. (Unit 1: Strategic Management)
- What do you understand by internal environmental analysis? Explain. (Unit 4: Internal Analysis)
- Differentiate between strategic objectives and financial objectives. (Unit 2: Company Direction)
- Define mission with an example of particular hospitality related organization. (Unit 2: Company Direction)
- Briefly explain about value chain analysis. (Unit 4: Internal Analysis)
- Write about the different types of strategic control.
- Discuss the Porters five forces model. Why hospitality business manager use this model? (Unit 3: External Environment Analysis)
- What is retrenchment strategy? When the firm should adopt the turnaround strategy? (Unit 5: Strategic Options and Choice Techniques)
Solved Answers of 2019
- Define the term “Strategic Fit”.
↪ - Enlist the different types of corporate level strategies. (Unit 1: Strategic Management)
↪ - What is joint venture? (Unit 5: Strategic Options and Choice Techniques)
↪ - What do you mean by benchmarking? (Unit 4: Internal Analysis)
↪ - Define the term “Competitive advantage”. (Unit 4 : Internal Analysis)
↪ - What is conglomerate diversification? (Unit 5: Strategic Options and Choice Techniques)
↪ - Write about liquidation strategy. (Unit 5: Strategic Options and Choice Techniques)
↪ - What is special alert control? (Unit 8: Strategic Evaluation and Control)
↪ - Define innovation strategy. (Unit 5: Strategic Options and Choice Techniques)
↪ - Define differentiate strategy. (Unit 5: Strategic Options and Choice Techniques)
↪ - What is strategic management? Explain about the characteristics of strategic management. (Unit 1: Strategic Management)
- What is mission? Differentiate between vision and mission statement with suitable examples. (Unit 2: Company Direction)
- Explain porter’s generic strategies. (Unit 5: Strategic Options and Choice Techniques)
- How the government and business are related to each other? Explain.
- What do you mean by strategic control? How does it differ from operational control? Explain. (Unit 8: Strategic Evaluation and Control)
- Differentiate between strategy formulation and strategy implementation. (Unit 1: Strategic Management)
- Why matrix analysis is important to business organization? Do you agree that GE nine cells matrix is superior than BCG matrix? Justify. (Unit 5: Strategic Options and Choice Techniques)
- Briefly explain about value chain analysis. How can it be used in assessing the competitive strength of an organization? (Unit 4: Internal Analysis)
Solved Answers of 2021
- Define business strategy. (Unit 1: Strategic Management)
↪ - Define the term “Competitive advantage”. (Unit 4: Internal Analysis)
↪ - Define mission advantage. (Unit 2: Company Direction)
↪ - List out the types of business objectives.(Unit 2: Company Direction)
↪ - Enlist the primary activities in value chain analysis. (Unit 4: Internal Analysis)
↪ - What is market penetration strategy? (Unit 5: Strategic Options and Choice Techniques)
↪ - What is unique resources?
↪ - What do you mean by diversification? (Unit 5: Strategic Options and Choice Techniques)
↪ - Define the term “operational control”.
↪ - What is strategic control? (Unit 8 : Strategic Evaluation and Control)
↪ - Briefly explains about strategic management model. (Unit 1: Strategic Management)
- Differentiate between individualism and collectivism.
- What are the different components of economic environment? Explain. (Unit 3: External Environment Analysis)
- State and explain the different types of strategic control.
- Differentiate between strategic objectives and financial objectives. (Unit 2: Company Direction)
- Briefly explain about resources to competitive advantage pyramid. (Unit 4: Internal Analysis)
- Explain the porters five forces model. (Unit 3 : External Environment Analysis)
- “Strategic management is a critical element for the success of any enterprise in the present days globalized world.” Do you agree with this statement? Discuss about the process of strategic management. (Unit 1: introduction)
Solved Answers of 2022
- List out any four characteristics of strategic management. (Unit 1: Strategic Management)
↪ - List out any three financial objectives. (Unit 2: Company Direction)
↪ - Define unique resources.
↪ - Sketch the process of strategic management. (Unit 1: Strategic Management)
↪ - What is competitive advantage? (Unit 4: Internal Analysis)
↪ - Define core competency.
↪ - What is innovation? (Unit 5: Strategic Options and Choice Techniques)
↪ - What is marketing strategy?
↪ - Define liquidation strategy. (Unit 5: Strategic Options and Choice Techniques)
↪ - Define value chain. (Unit 4 : Internal Analysis)
↪ - What is Resource Based View (RBV)? Explain the importance of RBV in an organization. (Unit 4: Internal Analysis)
- What is culture? How culture impact the organization? Support your answer with suitable examples. (Unit 6: Post formulation and Pre-implementation Phase)
- What is strategic management? Differentiate corporate strategy with functional strategy. (Unit 1: Strategic Management)
- What is mission? Differentiate between vision and mission. (Unit 2: Company Direction)
- Describe Porter’s generic strategy. (Unit 5: Strategic Options and Choice Techniques)
- State and explain the strategic control. (Unit 8: Strategic Evaluation and Control)
- “Internal environments are easier to control than external environment” explain this statement with the help of different components of internal and external environment. (Unit 3: External Environment Analysis and Unit 4: Internal Analysis)
- Briefly explain BCG and GE matrices with the help of suitable diagram and examples. (Unit 5: Strategic Options and Choice Techniques)
Solved Answers of 2023
- What is meant by strategy? (Unit 1: Strategic Management)
↪ - Define the term “competitive advantage”. (Unit 4 : Internal Analysis)
↪ - Describe the term “strategic intent”. (Unit 2: Company Direction)
↪ - Give two options of divesture strategy. (Unit 5: Strategic Options and Choice Techniques)
↪ - Write full form of RBV and PEST. (Unit 3: External Environment Analysis)
↪ - Define industry analysis. (Unit 3: External Environment Analysis)
↪ - Write two benefits of benchmarking. (Unit 4: Internal Analysis)
↪ - Differentiate between related and unrelated diversification. (Unit 5: Strategic Options and Choice Techniques)
↪ - State different functional plans to prepare in strategy implementation. (Unit 1: Introduction)
↪ - Define strategic alliance. (Unit 5: Strategic Options and Choice Techniques)
↪ - What is strategic management? Explain its characteristics. (Unit 1: Strategic Management)
- Explain the value chain analysis in reference to hospitality industry. (Unit 4: Internal Analysis)
- Sketch and explain strategic management model. (Unit 1: Strategic Management)
- Explain Porter’s five forces used in strategic management. (Unit 3: External Environment Analysis)
- Explain the resource to competitive advantage pyramid for internal analysis. (Unit 4: Internal Analysis)
- What different types of strategic control are essential in strategic management? Explain.
- Explain different integration strategies to develop internal strengths of organizations. Also explain the strengths of these strategies. (Unit 5: Strategic Options and Choice Techniques)
- How do Boston Consulting Group Matrix (BCG Matrix) contribute to strategy formulation? Explain its limitations. (Unit 5: Strategic Options and Choice Techniques)