Exam 6: Developing a Business Strategy

Today,managers have to make allocation decisions around the use of which scarce resources,

In formulating and implementing strategy in the social economy,managers must ensure that their actions guide the philosophical activity of the not-for-profit (NFP),as well as other strategy considerations.

Monitoring the cash flowing into and out of the business is a key requirement of the strategy execution phase.

A vision statement is a forward-thinking statement which defines what a company wants to become and/or where it is going.

An assessment of the position in the marketplace is a key component of the operating plan development process.

What is developed after the corporate level and business level strategies and objectives have been identified?

________ involves setting the organization's vision,goals,and objectives.

When a firm makes use of SWOT analysis,one of its objectives is to:

The identification of the key revenue drivers and an assessment of the total potential revenue forecasts which the business can expect from a particular initiative is a key components of the operating plan development process.

Most managers consider planning to be of little importance in today's rapidly changing business environment.

______________ refers to identifying who,within the business,will be responsible for each aspect of the strategic plan.

Strategic level strategy objectives define how to accomplish the stated corporate objectives.

The evaluation of assets is one of the six key areas that business managers answer in the development of a business strategy.

Industry is one of the key areas in which the I/E Analysis is assessing business risk and change.

In order for an organization to be successful over the long term,managers need to have a ___________ as to where and how to compete in the markets in which they intend to serve.

Which of the following is NOT one of the key areas in which the I/E Analysis is assessing business risk and change?

A vision is a detailed set of specific steps that a firm must take to achieve its short-run objectives.

Operational goals set is the final phase of the strategic planning process.

A vision is the overall explanation of why an organization exists and where it is trying to head.

The identification of the up-front and ongoing cost commitments which must be made in order to develop the market opportunity which the business has decided to focus on is a key components of the operating plan development process.