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Strategic Management Final Study Guide

Strategic Management Final Study Guide - BUSA 4131 Final...

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BUSA 4131 Final Exam Study Guide Please bring a GREEN SCANTRON. The test is cumulative. It will cover all lectures from the beginning of the semester and terms from Wall Street Journal and other class discussions and the simulation. The test format is 50 multiple choice questions worth two points each. You will NOT need a calculator. Questions about financial concepts will not require complex calculations. There are approximately 20 questions related to CATME (teamwork), the simulation, and financial ratios, and approximately 30 questions that cover the rest of the material in the course. The following are concepts that you should understand in preparation for the test. 1. The Strategic Management Process (steps, order, purpose, and what is done in each step) a. Analyze External Environment i. Purpose- figuring out the opportunities and threats in the task/industry environment and the broad/global environment b. Analyze Internal Environment i. Purpose- figuring out the strengths and weaknesses in the organization ii. Analyzing resources and capabilities of the firm iii. Understanding past performance and current situation, strategic direction and strategies c. Present SWOT i. Purpose- contains the information from the analysis of the internal and external environments d. Identify key Issues i. Purpose- these are critical things that management must do something about ii. Flow logically from your earlier analysis iii. Problems, opportunities, or major decisions e. Develop & Evaluate Alternatives i. Purpose- should address key issues ii. Present as many plausible alternatives for each key issue with pros/cons for each alternative to help narrow down the list f. Make & Justify Recommendations i. Purpose- figure from the list of alternatives which are the best ones that will work for the company and provide recommendations with reasoning that flows logically from your earlier analysis g. Describe Implementation & control i. Purpose- how the recommendations will be implemented and what will be used to check and control it h. Write Introduction i. Purpose- provides information about the company that can be tailored to the reader ii. It is one page, explains what is coming in the rest of the report, serves to “orient” the reader i. Write executive summary i. Purpose- gives a summary of the report if the reader does not read the entire report ii. States the recommendations and identifies key issues 2. The “Big Chart” a. The broad/global environment, the task/industry environment, the organization 3. SWOT, Situation Analysis a. Describes the strengths and weaknesses of a company and the opportunities and threats of the industry and the global environment 4. Corporate-level Strategy, Business-level Strategy, Functional-level Strategy
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