Competitive advantage and strategic direction

BMIS – Nov 2017 – L1 – Q7a – Competitive advantage and strategic direction

Explain Critical Success Factors (CSFs) and stages in managing strategy using CSFs.

Question

a) A strategy is a course of action, including the specification of resources required to achieve a specific objective. Strategy is concerned with the higher direction of an enterprise that involves top management.

As an alternative to a systematic goal-structured approach, an organization may focus on Critical Success Factors (CSFs) to manage strategy. Johnson and Scholes describe SIX stages in the process of managing strategy using CSFs.

Required:
i) What are Critical Success Factors (CSFs)?
(2 marks)

ii) Explain any FOUR of the stages of managing strategy using CSFs.
(8 marks)

Answer

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Tags: Critical Success Factors, CSFs, Quality Assurance, Quality control, Quality Management, Strategy Management
Level: Level 1

Topic: Competitive advantage and strategic direction
Series: NOV 2017

BMIS – Aug 2022 – L1 – Q5b – Competitive advantage and strategic direction

Explains Michael Porter's three generic strategies for gaining competitive advantage.

Question

Michael Porter identified three broad generic strategies which he asserted an organisation can utilise to gain competitive advantage over other firms.

Required:

Explain these THREE (3) generic strategies.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Strategy, Competitive Advantage, Generic Strategies
Level: Level 1

Topic: Competitive advantage and strategic direction
Series: AUG 2022

BMIS – Nov 2015 – L1 – Q4 – Competitive advantage and strategic direction

Explain competitive advantage, corporate reputation, and key variables of the marketing mix.

Question

Marketing mix refers to the particular combination of key variables under a company’s control that can be used to affect demand and to gain competitive advantage.

Explain the following:
a) Competitive advantage. (4 marks)
b) Corporate reputation. (4 marks)
c) List the key variables of the marketing mix and, within each, FOUR associated sub-variables.

(12 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Competitive Advantage, Corporate Reputation, Marketing Mix, Marketing Strategy
Level: Level 1

Topic: Competitive advantage and strategic direction
Series: NOV 2015

BMIS – Nov 2020 – L1 – Q5b – Competitive advantage and strategic direction

Identifies and explains the four grand growth strategies based on the Ansoff Growth Matrix.

Question

The Ansoff Growth Matrix is a tool which is used in generating corporate-level growth strategies for an organization. The use of the matrix results in four possible grand growth strategies available to an organization.

Required:

Identify and explain these FOUR (4) grand growth strategies.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Ansoff Matrix, Business Strategy, Growth Strategies
Level: Level 1

Topic: Competitive advantage and strategic direction
Series: NOV 2020

BMIS – April 2022 – L1 – Q5a – Competitive advantage and strategic direction

Explain the concept of the BCG Matrix and its importance in assessing product lines.

Question

Bonus Oil Plantation is a listed company on the Ghana Stock Exchange. For a company with a large portfolio, it is important to assess its product lines regularly to see which products are profitable, which ones are making losses, and which ones need improvement. This practice will help the company to allocate its resources accordingly in order to function more efficiently.

While there are many practices and tools available to accomplish this mission, the CEO has suggested to the Board the BCG Matrix developed by the Boston Consulting Group as a standard.

Required:
At the CEO’s request, explain the concept of the BCG Matrix. (10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: BCG Matrix, Product Portfolio, Resource Allocation, Strategic Planning
Level: Level 1

Topic: Competitive advantage and strategic direction
Series: APR 2022

BMIS – Nov 2017 – L1 – Q7a – Competitive advantage and strategic direction

Explain Critical Success Factors (CSFs) and stages in managing strategy using CSFs.

Question

Required:
i) What are Critical Success Factors (CSFs)?
(2 marks)

ii) Explain any FOUR of the stages of managing strategy using CSFs.
(8 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Critical Success Factors, CSFs, Quality Assurance, Quality control, Quality Management, Strategy Management
Level: Level 1

Topic: Competitive advantage and strategic direction
Series: NOV 2017

BMIS – Aug 2022 – L1 – Q5b – Competitive advantage and strategic direction

Explains Michael Porter's three generic strategies for gaining competitive advantage.

Question

Michael Porter identified three broad generic strategies which he asserted an organisation can utilise to gain competitive advantage over other firms.

Required:

Explain these THREE (3) generic strategies.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Strategy, Competitive Advantage, Generic Strategies
Level: Level 1

Topic: Competitive advantage and strategic direction
Series: AUG 2022

BMIS – Nov 2015 – L1 – Q4 – Competitive advantage and strategic direction

Explain competitive advantage, corporate reputation, and key variables of the marketing mix.

Question

Marketing mix refers to the particular combination of key variables under a company’s control that can be used to affect demand and to gain competitive advantage.

Explain the following:
a) Competitive advantage. (4 marks)
b) Corporate reputation. (4 marks)
c) List the key variables of the marketing mix and, within each, FOUR associated sub-variables.

(12 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Competitive Advantage, Corporate Reputation, Marketing Mix, Marketing Strategy
Level: Level 1

Topic: Competitive advantage and strategic direction
Series: NOV 2015

BMIS – Nov 2020 – L1 – Q5b – Competitive advantage and strategic direction

Identifies and explains the four grand growth strategies based on the Ansoff Growth Matrix.

Question

Required:

Identify and explain these FOUR (4) grand growth strategies.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Ansoff Matrix, Business Strategy, Growth Strategies
Level: Level 1

Topic: Competitive advantage and strategic direction
Series: NOV 2020

BMIS – April 2022 – L1 – Q5a – Competitive advantage and strategic direction

Explain the concept of the BCG Matrix and its importance in assessing product lines.

Question

While there are many practices and tools available to accomplish this mission, the CEO has suggested to the Board the BCG Matrix developed by the Boston Consulting Group as a standard.

Required:
At the CEO’s request, explain the concept of the BCG Matrix. (10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: BCG Matrix, Product Portfolio, Resource Allocation, Strategic Planning
Level: Level 1

Topic: Competitive advantage and strategic direction
Series: APR 2022

Topic: Competitive advantage and strategic direction

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BMIS – Nov 2017 – L1 – Q7a – Competitive advantage and strategic direction

Explain Critical Success Factors (CSFs) and stages in managing strategy using CSFs.

BMIS – Aug 2022 – L1 – Q5b – Competitive advantage and strategic direction

Explains Michael Porter's three generic strategies for gaining competitive advantage.

BMIS – Nov 2015 – L1 – Q4 – Competitive advantage and strategic direction

Explain competitive advantage, corporate reputation, and key variables of the marketing mix.

BMIS – Nov 2020 – L1 – Q5b – Competitive advantage and strategic direction

Identifies and explains the four grand growth strategies based on the Ansoff Growth Matrix.

BMIS – April 2022 – L1 – Q5a – Competitive advantage and strategic direction

Explain the concept of the BCG Matrix and its importance in assessing product lines.

BMIS – Nov 2017 – L1 – Q7a – Competitive advantage and strategic direction

Explain Critical Success Factors (CSFs) and stages in managing strategy using CSFs.

BMIS – Aug 2022 – L1 – Q5b – Competitive advantage and strategic direction

Explains Michael Porter's three generic strategies for gaining competitive advantage.

BMIS – Nov 2015 – L1 – Q4 – Competitive advantage and strategic direction

Explain competitive advantage, corporate reputation, and key variables of the marketing mix.

BMIS – Nov 2020 – L1 – Q5b – Competitive advantage and strategic direction

Identifies and explains the four grand growth strategies based on the Ansoff Growth Matrix.

BMIS – April 2022 – L1 – Q5a – Competitive advantage and strategic direction

Explain the concept of the BCG Matrix and its importance in assessing product lines.

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BMIS – Nov 2017 – L1 – Q7a – Competitive advantage and strategic direction

Explain Critical Success Factors (CSFs) and stages in managing strategy using CSFs.

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BMIS – Aug 2022 – L1 – Q5b – Competitive advantage and strategic direction

Explains Michael Porter's three generic strategies for gaining competitive advantage.

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BMIS – Nov 2015 – L1 – Q4 – Competitive advantage and strategic direction

Explain competitive advantage, corporate reputation, and key variables of the marketing mix.

You're reporting an error for "BMIS – Nov 2015 – L1 – Q4 – Competitive advantage and strategic direction"

BMIS – Nov 2020 – L1 – Q5b – Competitive advantage and strategic direction

Identifies and explains the four grand growth strategies based on the Ansoff Growth Matrix.

You're reporting an error for "BMIS – Nov 2020 – L1 – Q5b – Competitive advantage and strategic direction"

BMIS – April 2022 – L1 – Q5a – Competitive advantage and strategic direction

Explain the concept of the BCG Matrix and its importance in assessing product lines.

You're reporting an error for "BMIS – April 2022 – L1 – Q5a – Competitive advantage and strategic direction"

BMIS – Nov 2017 – L1 – Q7a – Competitive advantage and strategic direction

Explain Critical Success Factors (CSFs) and stages in managing strategy using CSFs.

You're reporting an error for "BMIS – Nov 2017 – L1 – Q7a – Competitive advantage and strategic direction"

BMIS – Aug 2022 – L1 – Q5b – Competitive advantage and strategic direction

Explains Michael Porter's three generic strategies for gaining competitive advantage.

You're reporting an error for "BMIS – Aug 2022 – L1 – Q5b – Competitive advantage and strategic direction"

BMIS – Nov 2015 – L1 – Q4 – Competitive advantage and strategic direction

Explain competitive advantage, corporate reputation, and key variables of the marketing mix.

You're reporting an error for "BMIS – Nov 2015 – L1 – Q4 – Competitive advantage and strategic direction"

BMIS – Nov 2020 – L1 – Q5b – Competitive advantage and strategic direction

Identifies and explains the four grand growth strategies based on the Ansoff Growth Matrix.

You're reporting an error for "BMIS – Nov 2020 – L1 – Q5b – Competitive advantage and strategic direction"

BMIS – April 2022 – L1 – Q5a – Competitive advantage and strategic direction

Explain the concept of the BCG Matrix and its importance in assessing product lines.

You're reporting an error for "BMIS – April 2022 – L1 – Q5a – Competitive advantage and strategic direction"

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