Question 1

Corporate level tactics are developed after the corporate level and business level strategies and objectives have been identified.

Accepted Answer

A) True 
 B)False

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

What is the final phase of the strategic planning process?

Accepted Answer

A)  Operational activities aligned 
B)  Strategy execution 
C)  Directional lock-out 
D)  Directional lock-in 
E)  Operational goals set 
A)  Operational activities aligned 
B)  Strategy execution 
C)  Directional lock-out 
D)  Directional lock-in 
E)  Operational goals set

Question 4

What is a key requirement of the strategic execution phase?

Accepted Answer

A key requirement of the strategy execut

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

Strategic planning is now much easier than it used to be because managers have access to very reliable computerized forecasting tools.

Accepted Answer

A) True 
 B)False

Question 8

Developing a business strategy looks at each of the six areas individually,but also holistically,in determining the road which an organization should take.

Accepted Answer

A) True 
 B)False

Question 9

The identification of competitive advantages which the organization possesses is a key components of the operating plan development process.

Accepted Answer

A) True 
 B)False

Question 10

A mission statement outlines the fundamental purposes of an organization.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

Small and medium-size business owners need to assess and anticipate the changes which are occurring within their markets.

Accepted Answer

A) True 
 B)False

Question 14

Karen Jobs is a supervisor who deals directly with a group of production line workers.She spends several hours each week developing specific work assignments and production schedules for the coming week so that the production department can meet its short-term production objectives.This suggests that a significant component of Karen's job involves:

Accepted Answer

A)  strategic planning. 
B)  contingency planning. 
C)  tactical planning. 
D)  operational planning. 
A)  strategic planning. 
B)  contingency planning. 
C)  tactical planning. 
D)  operational planning.

Question 15

Explain the processing of the three parts of the strategic plan.

Accepted Answer

The formulation of the strategic plan ca

Question 16

Today's business environment changes so rapidly that strategic planning is becoming more difficult and subject to change.

Accepted Answer

A) True 
 B)False

Question 17

An identification of competitive advantage is a key component of the operating plan development process.

Accepted Answer

A) True 
 B)False

Question 18

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 19

The following are key components of the operating plan development process,except:

Accepted Answer

A)  Specifics as to how to compete (for each business initiative or business unit) 
B)  Identification of the key revenue drivers and an assessment of the total potential revenue forecasts which the business can expect from a particular initiative 
C)  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. 
D)  Identification of the required market position and marketing communication initiatives required to support the business initiative or unit in question 
E)  Identification of competitive advantages which the organization possesses 
A)  Specifics as to how to compete (for each business initiative or business unit) 
B)  Identification of the key revenue drivers and an assessment of the total potential revenue forecasts which the business can expect from a particular initiative 
C)  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. 
D)  Identification of the required market position and marketing communication initiatives required to support the business initiative or unit in question 
E)  Identification of competitive advantages which the organization possesses

Question 20

__________ that outlines the fundamental purposes of their organization.

Accepted Answer

A)  organization chart 
B)  value statement 
C)  mission statement 
D)  PERT diagram 
A)  organization chart 
B)  value statement 
C)  mission statement 
D)  PERT diagram

Corporate level tactics are developed after the corporate level and business level strategies and objectives have been identified.

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

What is the final phase of the strategic planning process?

What is a key requirement of the strategic execution phase?

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

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

Strategic planning is now much easier than it used to be because managers have access to very reliable computerized forecasting tools.

Developing a business strategy looks at each of the six areas individually,but also holistically,in determining the road which an organization should take.

The identification of competitive advantages which the organization possesses is a key components of the operating plan development process.

A mission statement outlines the fundamental purposes of an organization.

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

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

Small and medium-size business owners need to assess and anticipate the changes which are occurring within their markets.

Explain the processing of the three parts of the strategic plan.

Today's business environment changes so rapidly that strategic planning is becoming more difficult and subject to change.

An identification of competitive advantage is a key component of the operating plan development process.

A key component of the operating plan development process is:

The following are key components of the operating plan development process,except:

__________ that outlines the fundamental purposes of their organization.

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

Corporate level tactics are developed after the corporate level and business level strategies and objectives have been identified.

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

What is the final phase of the strategic planning process?

What is a key requirement of the strategic execution phase?

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

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

Strategic planning is now much easier than it used to be because managers have access to very reliable computerized forecasting tools.

Developing a business strategy looks at each of the six areas individually,but also holistically,in determining the road which an organization should take.

The identification of competitive advantages which the organization possesses is a key components of the operating plan development process.

A mission statement outlines the fundamental purposes of an organization.

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

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

Small and medium-size business owners need to assess and anticipate the changes which are occurring within their markets.

Explain the processing of the three parts of the strategic plan.

Today's business environment changes so rapidly that strategic planning is becoming more difficult and subject to change.

An identification of competitive advantage is a key component of the operating plan development process.

A key component of the operating plan development process is:

The following are key components of the operating plan development process,except:

__________ that outlines the fundamental purposes of their organization.

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