Management 449 Final

“On the night of the exam, I suggest that you first read the entire exam. The point value will give you an idea how long and elaborate an answer ought to be. A 50 percent question is certainly more involved than a ten percent question.
The following are potential questions for the midterm examination questions. Where indicated, LA = a long answer question and SA = a short answer question.
1. The schematic or flowchart presented in slide 25 of the Hunger and Wheelen PowerPoint’s represents a step-by-step procedure for the Strategic Management Process. Please develop an essay that explains the overall process and the steps found in this schematic. In your essay explain the process – give an overview and its purpose. Then, explain the major steps within the process and within each step explain the analysis and reasoning in back of the analysis. Also, don’t forget the interrelatedness of the steps within the overall process. Examples, where appropriate, will enhance your essay. The purpose of this question is to test your understanding of strategy development and the events leading to it - the big picture, the major pieces, analysis within the major pieces (steps), the connectivity between the major pieces, and the potential iterations. Don’t forget to close the “loop” – where implementation and evaluation and controls fit into the process and include why they are important. (LA)
2. What factor determines the quality of the strategic management effort and whether or not the organization succeeds or fails in its implementation? Please, explain your answer thoroughly and give examples. (SA)
3. Early in the course, we spent a considerable amount of time on the topics of culture and leadership. Please develop an essay that defines leadership and the three functions of leadership, how culture is formed and include the three levels of culture, as