Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Chapter 17.4, Problem 17.4AQ
Summary Introduction
To discuss: The industries that are highly dependent on high rates of inventory turnover.
Introduction: Inventory turnover refers to the number of times the company has converted its inventories into sales.
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Discuss the Human Resources Management (HRM) policies that would consistently and coherently support attainment of your strategic initiative. These policies might address recruitment, selection, training/development, performance evaluation, compensation, and dismissal.
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The Internal Factor Evaluation (IFE) Matrix, is an example of a strategy formulation tool. True or False?
Question 57Select one:
True
False
Which of the following defines what business or businesses the firm is in or should be in?
Question 45Answer
a.
National Strategy
b.
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c.
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d.
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Clear my choice
Chapter 17 Solutions
Understanding Business
Ch. 17.2 - Prob. 1TPCh. 17.2 - Prob. 2TPCh. 17.2 - Prob. 3TPCh. 17.2 - Prob. 4TPCh. 17.3 - Prob. 17.3AQCh. 17.3 - Prob. 17.3BQCh. 17.3 - Prob. 17.3CQCh. 17.3 - Prob. 17.3DQCh. 17.3 - Prob. 1MEDCh. 17.3 - Prob. 5TP
Ch. 17.3 - Prob. 6TPCh. 17.3 - Prob. 7TPCh. 17.3 - Prob. 8TPCh. 17.3 - Prob. 9TPCh. 17.3 - Prob. 10TPCh. 17.3 - Prob. 11TPCh. 17.4 - Prob. 17.4AQCh. 17.4 - Prob. 12TPCh. 17.4 - Prob. 13TPCh. 17.5 - Prob. 14TPCh. 17.5 - Prob. 15TPCh. 17.5 - Prob. 16TPCh. 17 - Prob. 1CECh. 17 - Prob. 2CECh. 17 - Prob. 3CECh. 17 - Prob. 1CTCh. 17 - Prob. 2CTCh. 17 - Prob. 3CTCh. 17 - Prob. 4CTCh. 17 - Prob. 1DCSCh. 17 - Prob. 2DCSCh. 17 - Prob. 3DCSCh. 17 - Prob. 4DCSCh. 17 - Prob. 5DCSCh. 17 - Prob. 1PPTCh. 17 - Prob. 2PPTCh. 17 - Prob. 1VCCh. 17 - Prob. 2VCCh. 17 - Prob. 3VC
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- Strategy formulation, implementation, and evaluation activities occur at the following hierarchical levels in a large organization to include: Question 46Answer a. Functional, horizontal and divisional or strategic business unit b. Functional, horizontal and corporate c. Corporate and functional d. Corporate, divisional or strategic business unit, and functionalarrow_forwardDuring the Decision Stage of the Strategy Formulation framework, the focus is upon generating feasible alternative strategies by aligning key external and internal factors. True or False? Question 47Select one: True Falsearrow_forwardWhich of the following is NOT a reason to outsource non-critical activities? Question 49Answer a. Lower costs b. Flatten organization strategy c. Increase competitive responsiveness d. Increase internal bureaucracies Clear my choicearrow_forward
- _____________ addresses changes within the internal and the external business environment, and can range from strikes to natural disasters, bereavement and other occurrences Question 50Answer a. Strategic Planning b. Contingency Planning c. Disaster Planning d. Organizational Planning Clear my choicearrow_forward_____________ is the name given to the firm investing in international operations Question 51Answer a. Host Company b. Global Company c. International Company d. Parent Company Clear my choicearrow_forwardWhich of the following tools are the most appropriate for analyzing the macro-environment? Question 53Answer a. SWOT analysis b. Value Chain Analysis c. Benchmarking d. PESTLE frameworkarrow_forward
- ________________is called the “action stage” of strategic management. Question 48Answer a. Strategy management b. Strategy implementation c. Strategy evaluation d. Strategy formulationarrow_forwardWhen evaluating an organization's strategy, it is important to note that corrective actions are almost always needed except when internal and external strategic positions have not changed. The basis of any review would require the redevelopment of a: ____________________________ Question 31Answer a. Value Chain Analysis b. SWOT Analysis c. EFE and IFE Matrix d. PESTLE Analysisarrow_forward___________________refers to the process of redesigning a vertical organisation along its horizontal workflows and processes. Rather than focusing on narrow jobs structured into distinct functional departments, they emphasise core processes that cut horizontally across the organisation and involve teams of employees working together to serve customers Question 23Answer a. Workforce Configuration b. Structural Reengineering c. Business Process Reengineering d. Horizontal Configurationarrow_forward
- Alternative plans that can be put into effect during strategic evaluation if certain key events within the strategic plan do not occur as expected. Question 20Answer a. Contingency Plan b. Strategic Evaluation Plan c. None of the provided options d. Emergent Planarrow_forwardAssuring results is an attainable habit of a strategic leader only if a strategic leader is intentional in developing high performing organisations. Strategic leaders must be intentional in this because they can shape the organisational culture, or the culture may ‘manage’ the leader. One way to do this is to ______________ Question 17Answer a. Develop a Strategic Leadership plan b. Develop a Strategic Implementation Plan c. Implore levers of change d. Develop a Vision Statementarrow_forwardThis stage of the strategic management process, provides a control loop in determining the successful implementation of corporate, competitive, functional and global strategies. It seeks to ascertain the nature of the change betweenplanned strategies and its resultant emergent strategies Question 16Answer a. Strategic Advantage b. Strategic Formulation c. Strategic Implementation d. Strategy Evaluationarrow_forward
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