Assignment

1. Suppose you are the owner of a small business, who is currently facing a serious problem (you may assume any problem). (a) How could you make a decision to resolve this problem? Explain your decision-making process to resolve this problem. (b) How would you transfer of power and wealth in a family business if you have a plan to retire in the future?

2. The Strategic Management consists of three phases. The second phase is the strategic planning, and the third phase is the strategy implementation. (a) What are the fundamental differences between the second and the third phases? (b) In strategy implementation, the change of organizational structure is fundamental for the new strategy. Explain why?

3. (a) Explain following leadership theories: (i) trait theory, (ii) behavioral theory, (iii) contingency theory, and (iv) transactional leadership theory. (b) What are similarities and differences between trait theory and contingency theory?

4. In evaluation and control in strategic management, (a) explain primary measures of corporate performance; and (b) explain the importance of control and coordination in the process of strategic management.

5. How would you apply the tree phases of corporate strategic management for your personal career management in your life. Please assume that you are now almost thirty years old, and your remaining life is sixty years.