Your Examination

Initial guidance for StudentsRichard FrostMarch, 2014

*Your Exam:Learning ObjectivesTo understand the nature of the task and the essential differences between the questions.To consider the requirements of the case study and your general approach to answering such questions.To consider the requirements of general approach, if you want to do well.To prepare for the final weeks of the course and the task of revising.

*Exam: OverviewThe exam requires you to demonstrate an understanding of the theoretical concepts of International Business and Strategy, and an ability to apply them.It is intended to be an exercise in applied thinking.To do well in the exam, then, as much as possible of this thinking must be done beforehand.DO NOT try to learn every theme and piece of theory from every lecture!!!!

*The general nature of the task The purpose of the case study exam approach is to allow you to demonstrate your strategic thinking, and your understanding of a strategic situation given within a case study. You should be ready to demonstrate that you are capable of analysing the situation an organisation finds itself in, and evaluating its strategic choice and the effectiveness of its implementation of that choice.You will be required to demonstrate your judgement about these matters.

*PracticalitiesThe case study (but not the questions) have been available to you on Moodle, from September 20th, almost 7.5 months before the exam.You should prepare the case. Discussion with your friends and fellow students is encouraged, You will not be allowed to take the case, or any books or other papers, or mobile phones or tablet devices, into the exam room.You may take a maximum of six sides of handwritten notes (about 2,500 words) you have made about the case, with you into the exam room. You will be given a fresh copy of the case study there.

*Approach - 1The questions will follow closely the form of the question in the Specimen Exam Paper.You must answer BOTH of the questionsThe intention is for you to demonstrate your awareness, understanding and thinking about what is going on in the caseYou should show that you understand international business strategy and the situation facing the subject organisation.In order to do this, a few concepts applied in depth will earn good marks, rather than many concepts simply mentioned as a list or brain-dump.

*Approach - 2Your response to the questions is meant to be practical, focused, logical, analytical and structured around the use of the course concepts.Do not waste time explaining what the models and concepts are about that is not part of the task in Part A.Do NOT waste time drawing plain and unapplied diagrams only use applied ones!

*DiagramsSlide eight shows an unapplied diagram. In general, for the case study question, avoid using these entirely.Slide nine shows an applied diagram (the detail is about the environment affecting Marks and Spencer, a well-known UK retailer, in the late 1990s).

*A model of the macro-environment Sociological factors Demographics Life styles Social values Political factors Political milieu Regulatory environmentEconomic factorsTechnologicalfactors(Fahey and Narayanan, 1986)

*Consumers now buying aspirational brand names / discounted goods M&S supply neither

Buys British initiallyAccepted social responsibility to employees earlyDemand for clothing falls due to weatherWeakened furniture marketFall in tourism to UK (high value of vs. Euro currencies a major causeFinancial crisis in AsiaGlobalisationIncreasing cost of Buying British vs. low cost manufacturing countries (e.g. Taiwan, Malaysia)Initially no marketing dept instead total marketing ethos MIS set up around customersSupply chain managementCharge cards and loyalty cardsTills to cope with Euro - 150 mill20 mill for call centre direct mailGreenbury will not court City analysts (sees them as short term)Govt Utility Scheme WW II quality clothing in reach of allApplied Model of the macro-environment

THE MACRO-ENVIRONMENTFOR MARKS And SPENCER

Sociological factors Demographics Life styles Social value

Political factors Political milieu Regulatory environment

Economic factors

Technologicalfactors

*Key idea: AnalysisThis diagram shows that the student concerned can extract the relevant information from the case and use the model to structure this in a meaningful way; this will earn marks.To earn a higher level of marks you must explain which are the most important of the factors and why you think so (based on evidence from the case), then explain their impact on the case subject organisation; this demonstrates awareness and understanding.Think back to the presentation feedback we did, where we showed you how this was done

*PracticalitiesYou do not get to see the questions until you can turn over the paper in the exam room.You must therefore prepare for the general task requirements as much as possible before getting into the exam room.Note that the broad, key themes of the Case are likely to come up as Questions, so think about the other themes mentioned in the case. Given what the course is about, it is reasonable to assume that one question will be about international strategy!

Practicalities If the question asks you about Toyota Strategy, can you describe it? Can you do it in the language of international strategy?Which theories would you use to help you to describe it?How can you tell if the strategy is successful? Are there numbers you can use? What theory might help?You might think about asking, and answering, two questions: Given what is going on in the external environment, is the chosen strategy sensible? How do you know?How Well has the firm implemented the strategy (think strategy structure systems processes culture)

*Approach - The emphasis for theme two is the problems in the home market. How would you describe these, and what theory would you use to do this description?Were the firm successful in solving the problems?How do you know this are there numbers to help your view? I there theory that might help?

*Approach - 2This means that you must read the examination question carefully and think equally carefully about what it means, and how many separate parts there are to it. You should also think carefully about how you will structure a response to it, before you attempt to answer it.

*General concluding pointsIf an answer makes absolutely no use of course concepts, it will fail.It is not necessary to tell the examiners what the concepts are about, lay out your answer in report format, write title pages etc. - these things serve only to waste your time.Do not draw a plain, unapplied diagram - it will earn you NO marks. It is better to extract relevant information from the case and apply it to the diagram or model in your answer.Manage your time well do not spend more than 1hour and ten minutes on your first answer and ideally only an hour. Same for Q 2

*RevisionMake sure you work on building an understanding of the Case Study.What are the main themes?Work out what you should put together as an answer the relevant theory, the facts from the case, any examples you might want to give, etc.

*Revision:Dont use the approach I must learn this theory or concept. Better to think If I were to write about issue X, what theories, models and concepts would I use to illustrate my answer? Which case examples could I use? If I have to make judgements, conclusions and/or recommendations about how well the firm has dealt with this subject, what would they be?

Revision:Look at the themes from a very broad but simple view. Select two of them. What are the main areas of theory? What are the main points you would wish to make about these themes?Again, make notes about the two issues, and use up about 3 sides of your handwritten notes on each theme/issue.In the exam, adjust your plan in the light of the actual wording of the question asked.

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