MNG4801 EXAM PREP 2026: HIGH-YIELD
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Exam - Jan 2011
Question 1:
Define the following contemporary strategic management concepts :
1.1. Competitive advantage
1.2. Corporate Governance
1.3. Deliberate Strategy
1.4.Emergent Strategy
1.5. E-V-R Congruence
1.6. Industry life-cycle
1.7. Organisational architecture
1.8. Scenario planning
1.9. Stakeholder engagement
1.10 Wealth Maximisation
Text book reference: Write TB/tutorial reference here if there are any...
1.1 Competitive advantage. (pg 42 SG)
Is a component of strategic competitiveness and refers to the edge that an organization has
over its competitors. Competitive advantage may be achieved when the organization’s
products or services are perceived as having value determined by customer’s acceptance.
Simply put, competitive advantage is the ability of an organization to outperform its rivals.
When the organization implements value creating strategies that other competitors are unable
to duplicate or are too costly to imitate, it has achieved a competitive advantage. An