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Short questions answer. (Upto 100 words) 1. Strategic management concept. 2. Levels of strategy. 3. Kaizen and six sigma. 4. Zero defect management. 5. Business Re-Engineering Process. 6. Penetration / skim the cream policy. 7. Economic Value Added (EVA). 8. ABC Analysis. 9. Feed forward / concurrent / feed back control. 10. Merger / Demerger / Remerger Long question 1. What is strategic management? Explain the role of strategic management in business and non-business organization and also explain its limitations. 2. Define vision, mission, objective and differentiate among them. Explain the importance of strategic vision. 3. Explain strategic environment. Explain the impact of external and operating environment. 4. What is generic competitive strategies. 5. How you will analyze the operating environment? Explain five competitive forces propounded by Michael E. Porter. 6. What is external growth strategy? Explain its scope, tools & techniques of corporate re-structuring. 7. What is corporate Re-structuring? Explain its scope, tools & techniques of corporate re-structuring. 8. What is functional strategy? Explain HR or financial strategies. 9. Explain the nature of interaction between strategy and structure. Identify different mechanism to implement a strategy. Which structure you will choose and why? 10. What is strategic control? Explain its process, techniques and methods in brief.