TMA1/BUS427

TMA Quiz Questions TMA: TMA1/BUS427 SCORE=9.50 BUS427 - Business Policy & Strategy I Ms Katagum Bilkisu (bkatagum@noun.edu.ng ) 1 Policy aims at assisting the organization to deliver services to meet the needs and expectations of the …………...of the organization. Goals Services Visions Strategies 2 Policies are plans in that they are general statements or understandings that guide or …………………………... thinking in decision making. Rational Channel Reasonable Logical 3 The objectives of an organisation are related to the input-conversion-output ……………………… Production Output Cycle Structure 4 …………………………... which is the most common pedagogical tool in business policy – provides illustrations of real-life business strategy formulation and implementation. Strategy Case Study Policy Opportunity 5 The study of business policy should enable a student to develop analytical ability and use it to ……………………………. the situation in a given case or incident. Critically Implement Understand Evaluate 6 Experience has shown that managers, specially in the area of long-range planning, have to work with incomplete ………………………… Communication Messages Information Survey 7 …………………………. are the end results of planned activity, they state what is to be accomplished by when and should be quantified if possible. Visions Mission Values Objectives 8 …………………... strategy is the approach taken by a functional area to achieve corporate and business unit objectives and strategies by maximising resource productivity. Functional Corporate Business Hierarchy 9 A …………………………... of strategy is the grouping of strategy types by level in the organisation. Functional Corporate Business Hierarchy 10 Strategy implementation is the process by which strategies and policies are put into action through the development of programs, ………………... and procedures. Implementation Formulation Budgets Organization 11 The management is responsible for developing and approving major comprehensive …………………………policies. Company Management Government Stakeholders 12 Middle managers usually establish less critical policies relating to the operation of their sub unit. Top Middle Low All of the above 13 Many professionally managed companies acknowledge the fact that it is necessary to have policies in all the major ……………………. areas of management. Fundamentally Functional Strategical Departmental 14 Policies cut across all ………………………………... areas of the organistion Corporate Strategical Functional Fundamentally 15 ……………………. policy is another area in which management can affect the financing structure of the company and examine whether changing dividend policy could perhaps add value. Business Strategy Organization Dividend 16 Objectives and policy together provide… guidelines for the operations and management of organisation. Organization Corporate Business Specific 17 An explicit statement of objectives may assist ………………………………….. and reduce misunderstandings, and provide more meaningful criteria for evaluating organizational perfromance. Communications Individual Organization Customers 18 The choice of objectives is an essential part of the ……………….process including future courses of action. Organisational Environmental Management Decisions-making 19 Competencies are special qualities possessed by an ……………………. that make them withstand the pressures of competition in the marketplace. Individual Organization Department Marketplace 20 Many organisations achieve strategic success by building distinctive …………………………………. around the critical success factors. Strategy Methods Tactics Competencies