3.10.3 Managing strategic implementation

What is the primary objective of strategic planning in a business?

• To create a long-term marketing plan

• To analyze and evaluate factors and work them into a strategy

• To increase the production capacity

• To improve employee satisfaction

Which of the following is NOT a step in the strategic planning process?

• Setting up processes for monitoring and evaluating the strategy

• Analyzing the internal position of the business

• Implementing the strategy without evaluation

• Identifying opportunities for growth

What is the purpose of contingency planning in a business?

• To outline what to do if something unexpected happens

• To create a long-term marketing strategy

• To improve employee satisfaction

• To increase production capacity

Which of the following is an example of an internal factor that influences a business strategy?

• Political environment

• Legal regulations

• Production capacity

• Technological advancements

What is a key consideration when assessing the risk and feasibility of a strategic decision?

• The business's marketing plan

• The stakeholder maps

• The business's financial position

• The employee satisfaction levels

Which analysis tool is mentioned as useful for understanding internal and external factors affecting a business?

• SWOT analysis

• PEST analysis

• BCG matrix

• Ansoff matrix

What is the benefit of strategic planning in terms of business direction?

• It helps in creating a long-term marketing plan

• It provides a clear direction for the business

• It increases employee satisfaction

• It improves production capacity

What is the role of managers in contingency planning?

• To make snap decisions without any prior planning

• To act quickly and decisively to limit the amount of damage caused

• To focus solely on long-term goals

• To avoid making any changes to the existing plan

Which of the following is a potential drawback of strategic planning?

• It can be too flexible and adaptable

• It may be inaccurate and difficult to predict long-term needs

• It focuses too much on short-term goals

• It ignores the strengths and weaknesses of the business

What is an emergent strategy?

• A strategy that is planned in advance

• A strategy that develops over time in response to changing conditions

• A strategy that focuses solely on financial goals

• A strategy that ignores external factors