Question 1

____________ are specific,short-term results an organization needs to achieve in order to fulfill its long term goals.

Accepted Answer

A)  Directives 
B)  Opportunity targets 
C)  Objectives 
D)  Mission complements 
A)  Directives 
B)  Opportunity targets 
C)  Objectives 
D)  Mission complements

Question 2

Identify opportunities is a key outcome of the I/E Analysis.

Accepted Answer

A) True 
 B)False

Question 3

Taking corrective action quickly in the event that things are not going well is a key requirement of the strategy execution phase.

Accepted Answer

A) True 
 B)False

Question 4

While goals are measurable,objectives are not.

Accepted Answer

A) True 
 B)False

Question 5

A key component of the operating plan development process is:

Accepted Answer

A)  Identification of required staffing, infrastructure, and process 
B)  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 
C)  Seek out acquisitions, collaborations, and strategic alliances which complement existing products and capabilities 
D)  Expand current market presence 
E)  Identify what businesses to compete in 
A)  Identification of required staffing, infrastructure, and process 
B)  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 
C)  Seek out acquisitions, collaborations, and strategic alliances which complement existing products and capabilities 
D)  Expand current market presence 
E)  Identify what businesses to compete in

Question 6

How is the mandate different for for-profit leaders compared to the not-for-profit leaders?

Accepted Answer

In the for-profit sector,the overarching

Question 7

Rather than having __________,not-for-profits' actions are being assessed by some organized ______ (membership base,government entity,or community board)..

Accepted Answer

A)  stakeholders; collective 
B)  shareholders; enclave 
C)  shareholders; collective 
D)  stakeholders; group 
E)  patrons; collective 
A)  stakeholders; collective 
B)  shareholders; enclave 
C)  shareholders; collective 
D)  stakeholders; group 
E)  patrons; collective

Question 8

_______ strategy objectives,which defined how to accomplish the stated corporate objectives.

Accepted Answer

A)  Business level 
B)  Strategic level 
C)  Tactical level 
D)  Operating level 
E)  Corporate level 
A)  Business level 
B)  Strategic level 
C)  Tactical level 
D)  Operating level 
E)  Corporate level

Question 9

With respect to the overall mission of the organization,the difference between for-profit entities and not-for-profits is to whom the management team of the organization needs to respond.

Accepted Answer

A) True 
 B)False

Question 10

The _________ level of planning would be determining specific objectives which it hopes to achieve for each of its identified business initiatives and/or business units.

Accepted Answer

A)  Strategic 
B)  Tactical 
C)  Operating 
D)  Corporate 
E)  Business 
A)  Strategic 
B)  Tactical 
C)  Operating 
D)  Corporate 
E)  Business

Question 11

With respect to the overall mission of the organization,what is the difference between for-profit entities and not-for-profits?

Accepted Answer

A)  That the products and services offered are priced at levels which ensure their accessibility 
B)  To whom the management team of the organization needs to respond to 
C)  Maintain the balance between the need and social mission and goals 
D)  Maintain an atmosphere of collective entrepreneurship 
E)  Enhance the vitality of the organization 
A)  That the products and services offered are priced at levels which ensure their accessibility 
B)  To whom the management team of the organization needs to respond to 
C)  Maintain the balance between the need and social mission and goals 
D)  Maintain an atmosphere of collective entrepreneurship 
E)  Enhance the vitality of the organization

Question 12

Which of the following is NOT one of the six key areas that business managers answer in the development of a business strategy.

Accepted Answer

A)  Mission 
B)  Purpose 
C)  Markets 
D)  Products and Services 
E)  Assets 
A)  Mission 
B)  Purpose 
C)  Markets 
D)  Products and Services 
E)  Assets

Question 13

What is a key requirement of the strategy execution phase?

Accepted Answer

A)  monitor the cash flowing into and out of the business 
B)  continuously monitor the success of the implementation of the strategy 
C)  take corrective action quickly in the event that things are not going well 
D)  monitor and manage processes and material purchases 
E)  b) and c) 
A)  monitor the cash flowing into and out of the business 
B)  continuously monitor the success of the implementation of the strategy 
C)  take corrective action quickly in the event that things are not going well 
D)  monitor and manage processes and material purchases 
E)  b) and c)

Question 14

Why can't small and medium-size business owners,seem to take the time to plan strategically?

Accepted Answer

A)  act as the marketing, human resource, operations, and financial managers, all rolled into one 
B)  focused on fighting fires or fixing problems 
C)  focused on short-term planning efforts, generally geared towards current year initiatives 
D)  lack access to the expertise and/or resources needed to undertake a strategy review 
E)  all of the above 
A)  act as the marketing, human resource, operations, and financial managers, all rolled into one 
B)  focused on fighting fires or fixing problems 
C)  focused on short-term planning efforts, generally geared towards current year initiatives 
D)  lack access to the expertise and/or resources needed to undertake a strategy review 
E)  all of the above

Question 15

Like for-profit entities,not-for-profits must develop strategies and tactics which produce positive financial results for the organization.

Accepted Answer

A) True 
 B)False

Question 16

SWOT analysis helps firms identify both competitive threats and market opportunities.

Accepted Answer

A) True 
 B)False

Question 17

Assessing what is changing in its macro-economic environment is part of the strategic planning process and its organizing framework.

Accepted Answer

A) True 
 B)False

Question 18

Small and medium-size business owners need to assess and anticipate the changes which are occurring:

Accepted Answer

A)  within their markets 
B)  with the needs for their products 
C)  with new opportunities 
D)  with their suppliers 
E)  a), b) and c) 
A)  within their markets 
B)  with the needs for their products 
C)  with new opportunities 
D)  with their suppliers 
E)  a), b) and c)

Question 19

Explain Business system configuration and provide an example.

Accepted Answer

Business System Configuration refers to

Question 20

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

Accepted Answer

A) True 
 B)False

____________ are specific,short-term results an organization needs to achieve in order to fulfill its long term goals.

Identify opportunities is a key outcome of the I/E Analysis.

Taking corrective action quickly in the event that things are not going well is a key requirement of the strategy execution phase.

While goals are measurable,objectives are not.

A key component of the operating plan development process is:

How is the mandate different for for-profit leaders compared to the not-for-profit leaders?

Rather than having ____,not-for-profits' actions are being assessed by some organized (membership base,government entity,or community board)..

_______ strategy objectives,which defined how to accomplish the stated corporate objectives.

With respect to the overall mission of the organization,the difference between for-profit entities and not-for-profits is to whom the management team of the organization needs to respond.

The _________ level of planning would be determining specific objectives which it hopes to achieve for each of its identified business initiatives and/or business units.

With respect to the overall mission of the organization,what is the difference between for-profit entities and not-for-profits?

Which of the following is NOT one of the six key areas that business managers answer in the development of a business strategy.

What is a key requirement of the strategy execution phase?

Why can't small and medium-size business owners,seem to take the time to plan strategically?

Like for-profit entities,not-for-profits must develop strategies and tactics which produce positive financial results for the organization.

SWOT analysis helps firms identify both competitive threats and market opportunities.

Assessing what is changing in its macro-economic environment is part of the strategic planning process and its organizing framework.

Small and medium-size business owners need to assess and anticipate the changes which are occurring:

Explain Business system configuration and provide an example.

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

What Is Business

The Canadian Economic Environment

The Global Marketplace

The Environment and Sustainable Business Practices

Ethics and Corporate Social Responsibility

Entrepreneurship and Forms of Business Ownership

Developing Your Business Structure and Culture

Managing and Leading the Organizations Talent

The Marketing Challenge

Understanding the Marketing Effort

Technology and Operations Management

Understanding Business Finances

Financial Statements Structure and Interpretation

Analyzing New Business Ventures

Filters

Exam 6: Developing a Business Strategy

____________ are specific,short-term results an organization needs to achieve in order to fulfill its long term goals.

Identify opportunities is a key outcome of the I/E Analysis.

Taking corrective action quickly in the event that things are not going well is a key requirement of the strategy execution phase.

While goals are measurable,objectives are not.

A key component of the operating plan development process is:

How is the mandate different for for-profit leaders compared to the not-for-profit leaders?

Rather than having __________,not-for-profits' actions are being assessed by some organized ______ (membership base,government entity,or community board)..

_______ strategy objectives,which defined how to accomplish the stated corporate objectives.

With respect to the overall mission of the organization,the difference between for-profit entities and not-for-profits is to whom the management team of the organization needs to respond.

The _________ level of planning would be determining specific objectives which it hopes to achieve for each of its identified business initiatives and/or business units.

With respect to the overall mission of the organization,what is the difference between for-profit entities and not-for-profits?

Which of the following is NOT one of the six key areas that business managers answer in the development of a business strategy.

What is a key requirement of the strategy execution phase?

Why can't small and medium-size business owners,seem to take the time to plan strategically?

Like for-profit entities,not-for-profits must develop strategies and tactics which produce positive financial results for the organization.

SWOT analysis helps firms identify both competitive threats and market opportunities.

Assessing what is changing in its macro-economic environment is part of the strategic planning process and its organizing framework.

Small and medium-size business owners need to assess and anticipate the changes which are occurring:

Explain Business system configuration and provide an example.

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

What Is Business

The Canadian Economic Environment

The Global Marketplace

The Environment and Sustainable Business Practices

Ethics and Corporate Social Responsibility

Entrepreneurship and Forms of Business Ownership

Developing Your Business Structure and Culture

Managing and Leading the Organizations Talent

The Marketing Challenge

Understanding the Marketing Effort

Technology and Operations Management

Understanding Business Finances

Financial Statements Structure and Interpretation

Analyzing New Business Ventures

Filters

Rather than having ____,not-for-profits' actions are being assessed by some organized (membership base,government entity,or community board)..