cima e3 practice test

CIMA E3 – Strategic Management

What is Strategic management?

Strategic management is the continuous planning, monitoring, analy-sis and

assessment of all that is necessary for an organization to meet its goals and objectives.

How CIMA benefit your business

Analysis - Understanding the history behind numbers and use it to make business decisions

Strategy – Using the insight from analysis to help formulate business strategy to create wealth and shareholder

value. Risk - The application of analytical skills to observe business processes end a pair identify and manage risks.

Planning – using accounting techniques to plan and budget.

Communication – knowing what information management needs and explaining the numbers to non-financial managers.

Here are some questions

Cima E3 exam is also known as strategic management. Get complete exam questions collections from exams4sure and pass your exam. Exams4sure of-fer free demo for Cima E3. Our demo will ensure you that you will pass your exam in first at-tempt. Here we present some demo questions for you. Get complete file from: http://www.exams4sure.com/CIMA/E3-practice-exam-dumps.html

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Question No 1:

What is strategy?

Strategy"A course of action, including the specification of resourcesrequired, to achieve a specific objective."CIMA: Official Terminology





Question No 2:

Levels of strategy - Johnson and Scholes?

Corporate strategy (Where)Business Strategy (How)Functional Strategy (Who)





Question No 3:

Arguments in favour of a strategic approach?

* Strategy helps minimise risk* Avoids short-term behaviour* Improves stakeholder perceptions* Encourages environmental analysis e.g. critical to react to change* Evidence indicates performance can be improved using strategic approaches* Integration and coordination of activities and processes





Question No 4:

Arguments against a strategic approach?

Difficult to plan when environment changing, uncertain or complexEncourages 'conformity' stifling innovation e.g. the corporate straightjacketInfrequently reviewed e.g. chosen long-term strategy may not keep pace with changeImplementation often managed poorlyRational planning a complex methodology and costly for small businesses





Question No 5:

The rational planning process Advantages?

For transformational or radical changeCopes with the uncertain future by providing long-term plansHelps integrate and coordinate complex organisations





Question No 6:

The rational planning process Disadvantages?

Rational planning can be too rigid and bureaucratic e.g. no use for the small businessRational planning can stifle innovation e.g. locked into plansNo use for dynamic or uncertain environments e.g. plans quickly become 'out of date'





Question No 7:

Incremental planning approaches (logical incrementalism) Advantages?

Less complex and long windedBetter for uncertainty or rapidly changing environmentsMore frequent gradual adjustment e.g. easier to control and manageGreater frequency of planning to adjust plans to environmental change





Question No 8:

Incremental planning approaches (logical incrementalism) Disadvantages?

Too reactive, 'muddling through'Not suitable for transformational or radical changeLack of long-term direction e.g. 'strategic drift' may occur





Question No 9:

The entrepreneurial model (or freewheeling opportunism) Definition?

Henry Mintzberg referred to 'freewheeling opportunism' as an opportunistic strategy,dominated by the search for new opportunities, with bold and often high risk decisions thatneed to be made by the entrepreneur him or herself.Freewheeling opportunism is a top-down (centralised), informal and short-term ap-proachto strategic planning.





Question No 10:

The entrepreneurial model (or freewheeling opportunism) Advantages?

* Focus on exploiting product and market opportunities e.g. 'never miss a good oppor-tunity'* Less time consuming and complicated* Greater frequency of planning to adjust plans to environmental change* Better for uncertainty or rapidly changing environments





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CIMA E3 – Strategic Management






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