Cima E2 Exam Question No 15

Question No 15:

What is the Criticisms of planned strategies?

Time commitment - they can be very time consuming to create, for large businesses often taking many months, and may be out of date by the time they are published
Cost - costs include staff time, collecting information, using strategy consultants
Lack of flexibility - The organisation can become constrained by a fixed plan and as a result not take new opportunities that arise or adapt to changes in the business environment (e.g. a new competitive threat).

Cima E2 Exam Question No 14

Question No 14:

What is Strategy Evaluation and control?

•Evaluating the success of the strategy by measuringactual performance against objectives
•Taking control action by amending future strategies and objectives.   

Cima E2 Exam Question No 13

Question No 13:

What is the Strategic Implementation?

Putting the strategies into practice including polices and strategies for:
•marketing
•finance
•R & D
•IT
•Human Resources
•Project management
•Change management
•Structure

Cima E2 Exam Question No 12

Question No 12:

What is the Strategic Choice?

Answer:

• Selecting strategic options
• Choosing options the firm is going to take (including financial evaluation using techniques such as NPV, IRR and Payback period).

Cima E2 Exam Question No 11

Question No 11:

What is Strategic Analysis?

• Defining the direction (e.g. Mission and objectives)
• External analysis of the business environment (e.g.PESTEL analysis, Porter's 5 forces)
• Internal analysis of the firm (e.g. Value chain, Resource audit, Product analysis)
• Corporate appraisal (e.g. SWOT analysis)