Assignment Question(s):

Based on reading and understanding the basic concepts of strategic management in Chapter 01, answer the following:

Q.1 What is ‘strategy formulation’? Explain your answer alongside a discussion of mission, vision and objectives of a local/ international company. (4 Marks)

Q.2 What are benefits of strategic management for market competition? develop a discussion of these benefits alongside a local/ international example of a company. (3 Marks)

Q.3 What is the impact of sustainability on business practice? Discuss with a suitable example. (3 Marks)

Q.4 Define strategic flexibility and explain its implications. Why is organizational learning important to the long-term development of strategic flexibility of organizations that intend to enter overseas markets? (5 Marks)