Write an essay on Strategic Management in Business
1. What do we mean by strategic leadership? Please discuss the role of strategic leaders in
business organizations.
2. What do you think are the sources of sustained superior profitability?
3. What are the strengths of formal strategic planning? What are its weaknesses? In what
situations is top-down planning likely to be superior to bottom-up emergent strategy
development?
4. Discuss the sources of cognitive biases in strategic information processing and decision making.
Can you think of an example in your own life where cognitive biases resulted in you making a
poor decision? How might that mistake have been avoided?
5. Choose a (single) business of interest to you and discuss the competitive forces model with
reference to the industry. What does the model tell you about the level of competition in the
industry?
6. Assess the impact of macroenvironmental factors on the likely level of enrollment at your
university over the next decade. What are your suggestions for the strategic leaders leading the
university in response to the macroenvironmental changes?
7. Discuss the concept of “Resource Based View (RBV) of the firm”. In elaborating the concept of
RBV, focus on the relationships among these variables: firm resource, firm capability,
competitive advantage, core competence, and firm strategy. Why is it important to study the
internal resources, capabilities, and competitive advantages of firms? What insights can be
gained?
8. Apply the VRIO framework to Uber and describe to what extent these resources can be
considered valuable, rare, inimitable, and well organized. What must Uber do to maintain its
competitive advantage going forward in the increasingly competitive industries such as taxi
hailing and food delivery businesses?
9. What role can top management play in helping a company achieve superior efficiency, quality,
innovation, and responsiveness to customers?
10. What is the relationship between innovation and competitive advantage?
11. What are the main differences between a low-cost strategy and a differentiation strategy?
12. How can a business-level strategy of (a) low cost and (b) differentiation offer some protection
against competitive forces in a company’s industry?
13. What is required to transform a business-level strategy from a concept to a reality
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