MGMT3031 Business Strategy And Policy

MGMT3031 Business Strategy And Policy

MGMT3031 Business Strategy and Policy
Question
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Q1.  Mr. John Francois, the owner of John Francois Stores has been operating a successful business since 1977.  However, he is not fully aware of what strategic management and planning entails.  As a trust worthy employee, Mr. Francois has asked you to host a weekend retreat with him, his family members, and selected members of staff so that you can advise them about what strategic management and planning entails as well as how important it is for the organization to engage in strategic management and planning.      

 

What would you say to the members present at the retreat so that they can have a very good understanding of what strategic management and planning entails, and why they should engage in the process so as to maintain the competitive advantage of John Francois Stores?

 

(Total – 25 marks)

 

Q2(a).  Based on the information provided in the Case Study, you are required to do the following:

 

Identify by name, three (3) strategiesthat were utilized by John Francois Stores, and for each strategy identified, provide a brief explanation of what the strategy means.                   (3 marks)

 

Provide three (3) reasons for each of the strategies identified regarding why Mr. Francois and John Francois Storeswere successful

with those initiatives.           (9 marks) 

 

Q2(b).  Based on the existing environment and the situation at John Francois Stores, and as the Consultant hired by the Company:

 

Suggest three (3) strategiesby name that the Company could undertake to maintain a competitive advantage, and provide a brief explanation of what each strategy means.                   (3 marks) 

 

Also, provide three (3) reasons/justifications for each of the strategies that you     (9 marks)

 

Q2(c).       What is the output that results from Strategy Formulation?   (1 mark)  

     

  (Total – 25 Marks)

 

 

Q3(a). Indicate where do Resources come from?       (1 mark) 

 

Identify three (3) types of resources that John Francois Stores possesses and provide a brief explanation for each type of resource identified as well as an example for each type of resource.                  

                          (3 Marks) 

 

Q3(b). As an employee of John Francois Stores, how would you advise any of

your colleagues if they were seeking employment at the organization based on best practices that can provide a competitive advantage through people management.  Identify and discuss briefly six (6) best

practices.                       (6 marks)   

 

Q3(c).  On the assumption that Mr. Francois is thinking about starting a branch in some foreign country, he will need advice on the types of strategies that could be adopted.

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