Cima E3 Exam Question No 10

Question No 10:

What are the The entrepreneurial model (or freewheeling opportunism) Advantages?

Answer:

* 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

Cima E3 Exam Question No 9

Question No 9:

What is 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.

Cima E3 Exam Question No 8

Question No 8:

What is 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

Cima E3 Exam Question No 7

Question No 7:

Incremental planning approaches (logical incrementalism) Advantages?

1. Less complex and long winded
2. Better for uncertainty or rapidly changing environments
3. More frequent gradual adjustment e.g. easier to control and manage
4. Greater frequency of planning to adjust plans to environmental change

Cima E3 Exam Question No 6

Question No 6:

What is 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No use for dynamic or uncertain environments e.g. plans quickly become 'out of date'