Why is a vision in an organisation's value system important?
' a. To prioritize profits over customer satisfaction
' b. To uphold long-term business traditions and practices ' c. To focus on individual goals and achievements ; d. To create and bring value to customers and stakeholders, balancing between meeting needs and requirements Clear my choice
Question 2 Not yet answered Marked out of 1.00
What are operational resources?
' a. Marketing and sales resources for meeting customers' expectations.
; b. A variety of company resources such as machinery, people, resources, vendors, and technology. ' c. The management of supply chain and competitors' strengths and weaknesses. ' d. Processes used for creating and distributing products and services. Clear my choice
Question 3 Not yet answered Marked out of 1.00
What is considered an important part of an effective process in 'People' element in Operational Excellence?
' a. Introduction of flexible work routines
; b. Consistency in following agreed procedures ' c. Allocation of unused information ' d. Utilization of diverse skills and knowledge Clear my choice Question 4 Not yet answered Marked out of 1.00
What common theme do strategic planning and strategic construction share?
' a. The adoption of innovative resource allocation strategies
; b. The concept or foundation of a strategy ' c. The insistence on traditional business models ' d. The inclusion of workforce diversity as a company value Clear my choice
Question 5 Not yet answered Marked out of 1.00
What is the definition of essential competitive development according to the text?
; a. The ability to provide a quality product or service at a fair price that consistently meets customer needs ' b. Continuous innovation and undifferentiated products ' c. Duplication of competitor's offerings ' d. High production speed and low inventory levels Clear my choice
Question 6 Not yet answered Marked out of 1.00
What does the first step in building a successful strategy require looking at?
; a. Targeted market, customers, offerings, and adapting to change and challenges
' b. Regulatory compliance, legal implications, and contractual obligations ' c. HR policies, employee turnover, and workforce skill enhancement ' d. Business operations, investments, and tax structures Clear my choice
Question 7 Not yet answered Marked out of 1.00
What are the two key factors that define operational goals?
' a. Technological advancements and financial budgets
' b. Business projections and marketing principles ' c. Customer objectives and operational processes ; d. Market requirements and operational resources Clear my choice Question 8 Not yet answered Marked out of 1.00
What is the purpose of an operating strategy?
' a. Creating unique business above-market strategies
; b. Linking operation level decisions to business strategies ' c. Making everyday operational decisions ' d. Developing long-term market objectives Clear my choice
Question 9 Not yet answered Marked out of 1.00
What did Hill's framework for developing a strategic plan consist of?
; a. Five steps, including defining business objectives and providing necessary infrastructure to support operation ' b. Six steps, concentrating on market analysis and budget allocation ' c. Seven steps, placing emphasis on organisational guidance and profits ' d. Three steps, mostly focusing on marketing strategies Clear my choice
Question 10 Not yet answered Marked out of 1.00
According to Black and Lewis (1997), how do they define Operational Strategy?
' a. Determining the immediate capabilities of work without relation to the overall strategy ' b. Planning short-term work capacities without considering contribution to the overall strategy ; c. Decisions shaping the long-term capacity of work regardless of its nature and contribution to the overall strategy ' d. Deciding the daily capacity of work irrespective of its role in the overall strategy Clear my choice
Question 11 Not yet answered Marked out of 2.00
What should an Organisation Strategy guide?
' a. Budget allocation decisions
; b. The decisions of the structure and the emergence of the operational skills ' c. Branding and advertising decisions ' d. Market expansion decisions Clear my choice Question 12 Not yet answered Marked out of 2.00
Which aspect of the business environment should the strategy be related to according to the text?
; a. A broad set of external factors, such as economic power in the industry and social values ' b. Regulatory compliance and legal frameworks ' c. Internal factors, such as corporate strengths and weaknesses only ' d. Short-term economic indicators and competitor financial performance Clear my choice
Question 13 Not yet answered Marked out of 2.00
What does the Operations Strategy Framework take into consideration?
' a. Technology and infrastructure assessment
; b. Business/business strategy and market/demand analysis ' c. Human resources and talent management ' d. Financial analysis and external investment Clear my choice
Question 14 Not yet answered Marked out of 2.00
What does an operational strategy do to ensure customer expectations are met?
' a. Improving corporate branding
' b. Redefining market segments ' c. Improving customer awareness ; d. Developing new products Clear my choice
Question 15 Not yet answered Marked out of 4.00
What factors must be considered for determining the organisation’s Competitive Strategy, as outlined in the text?
' a. Sector, market spread, , and warnings to the industry.
; b. Industry, market size, and threats to the industry. ' c. Vertical, market size,. ' d. Zone, market range, market growth status,and intimidations to the industry. Clear my choice Question 16 Not yet answered Marked out of 4.00
What is the importance of an Organisation Strategy?
' a. An Organisation Strategy focuses on sustainability and corporate social responsibility.
' b. An Organisation Strategy facilitates individual employee growth. ' c. An Organisation Strategy ensures infrastructure development. ; d. An Organisation Strategy is essential for competition and success, and without a solid operating strategy, companies fail to keep pace with changing markets and lose strategic competitors. Clear my choice
Question 17 Not yet answered Marked out of 4.00
What components form a key part of a strategic plan?
' a. Financial guidelines, organizational development, human resources, and external partnerships drive strategic planning. ' b. Strategic deals, corporate innovation, data analytics, and product management form key components. ; c. Operation operations, work, purchasing, manufacturing, and distribution are some critical areas for overall operation. ' d. Sales operations, market research, technology, and logistics are fundamental areas of focus. Clear my choice
