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Strategic Management

Notes 2.6 Review Questions

1. Suppose you are the CEO of an organisation that has just launched an I-pod to give
competition to Apple and Sony. What will be the key considerations while developing
your vision statement?
2. Given the vision, as the new Director, what ideas would you want to implement to achieve
the vision?
3. Has there ever been a time on your life when your vision of the future was so inspiring
that you converted initial nay-sayers into followers later on? If yes discuss. If no, analyse
a situation when it could have happened. Why do you think you failed?
4. Discuss a time when you established a vision for your team. What process was used? Were
others involved in setting the vision? How did the vision contribute to the functioning of
the unit?
5. "Employees have a greater role to play in formulating strategy". Comment.

6. "Small business' success solely depends upon its strategy formulation approach". To what
extent does this statement hold good?
7. Do non-profit organisations benefit from strategy formulation? Why/why not?

8. When is a good time to formulate strategy? Explain with reasons according to your
understanding.
9. Critically analyse the leader dominated approach. Is there a better approach?

10. Do you think business vision should be reviewed and upgraded after every few years?
Justify your answer by giving suitable arguments.

Answers: Self Assessment

1. objectives 2. implemented

3. four 4. corporate mission, objectives, strategies
5. become, achieve 6. Three
7. advantage 8. decline, failure
9. Possibility 10. Graphic

2.7 Further Readings

Books A A. Thompson and AJ. Strickland, Strategic Management, Business Publications,
Texas, 1984.
Adapted from Pearce JA and Robinson RB, Strategic Management, McGraw Hill,
NY, 2000.
Fred R. David, Strategic Management – Concepts and Cases, Pearson Education Inc.,
2005.

Ian Palmer, Richard Dunford and Gib Akin, Managing Organisational Change, Tata
McGraw-Hill, New Delhi, 1957.

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