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Cima E3 Practice Test

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  1. CIMA E3 – Strategic Management

  2. What is Strategic management? Strategic management is the continuous planning, monitoring, analysis and assessment of all that is necessary for an organization to meet its goals and objectives.

  3. 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.

  4. 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 offer free demo for Cima E3. Our demo will ensure you that you will pass your exam in first attempt. Here we present some demo questions for you. Get complete file from:

  5. Question No 1: What is strategy? Strategy "A course of action, including the specification of resources required, to achieve a specific objective." CIMA: Official Terminology

  6. Question No 2: Levels of strategy - Johnson and Scholes? Corporate strategy (Where) Business Strategy (How) Functional Strategy (Who)

  7. 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

  8. Question No 4: Arguments against a strategic approach? Difficult to plan when environment changing, uncertain or complex Encourages 'conformity' stifling innovation e.g. the corporate straightjacket Infrequently reviewed e.g. chosen long-term strategy may not keep pace with change Implementation often managed poorly Rational planning a complex methodology and costly for small businesses

  9. Question No 5: The rational planning process Advantages? For transformational or radical change Copes with the uncertain future by providing long-term plans Helps integrate and coordinate complex organisations

  10. Question No 6: The rational planning process Disadvantages? Rational planning can be too rigid and bureaucratic e.g. no use for the small business Rational planning can stifle innovation e.g. locked into plans No use for dynamic or uncertain environments e.g. plans quickly become 'out of date'

  11. Question No 7: Incremental planning approaches (logical incrementalism) Advantages? Less complex and long winded Better for uncertainty or rapidly changing environments More frequent gradual adjustment e.g. easier to control and manage Greater frequency of planning to adjust plans to environmental change

  12. Question No 8: Incremental planning approaches (logical incrementalism) Disadvantages? Too reactive, 'muddling through' Not suitable for transformational or radical change Lack of long-term direction e.g. 'strategic drift' may occur

  13. 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 that need to be made by the entrepreneur him or herself. Freewheeling opportunism is a top-down (centralised), informal and short-term approach to strategic planning.

  14. Question No 10: The entrepreneurial model (or freewheeling opportunism) Advantages? * Focus on exploiting product and market opportunities e.g. 'never miss a good opportunity' * 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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  16. CIMA E3 – Strategic Management