Chap 11

Question 1

Serves as the roadmap in the implementation of business and functional level strategies

Answer 1

Programs, budgets, and guidelines

Question 2

What to accomplish and when

Answer 2

Business and functional level objective

Question 3

Activities needed to achieve the objective

Answer 3

Programs

Question 4

Expected revenue, and cost of the program

Answer 4

Budgets

Question 5

Steps to accomplish the program

Answer 5

Procedures

Question 6

Key elements to the implementation of business and functional level strategies

Answer 6

Programs
Budgets
Procedures

Question 7

A plan embodying the different activities that must be accomplished to achieve the objectives of a company through the efficient utilization of its resources

Answer 7

Strategic program

Question 8

Steps in preparing a program

Answer 8

Define the business or functional objective
Set the key performance indicator
Identify the people involved, dates for program review, and completion time
Prepare the program report

Question 9

The first step in setting the business or functional level program

Answer 9

Define the business or functional objective

Question 10

A quantifiable form of measurement used to determine how a company effectively achieves its objectives

Answer 10

Key performance indicator

Question 11

A plan expressed in quantitative, monetary value

Answer 11

Budget

Question 12

Basis of a budget

Answer 12

Business and functional level strategic objectives in coordination with a program

Question 13

Serve as a control mechanism in the implementation of a strategy

Answer 13

Budget

Question 14

Specify the detailed or step-by-step process to be carried out to achieve the completion of a program

Answer 14

Standard operating procedures

Question 15

Uses simple sentences in listing down the procedures, to be carried out to accomplish a program

Answer 15

Simple-step format

Question 16

Employed when there are several long procedures involved, and each major step contains several substeps

Answer 16

Hierarchical-step format

Question 17

Adopted when there are an infinite steps to be carried out, since the results may be unpredictable

Answer 17

Flowchart format

Question 18

Business level strategy key aspects

Answer 18

Differentiation/cost leadership
Customer focus
Market segmentation
Competitive analysis
Agile and responsive structure

Question 19

Unique in all aspects to distinguish from all competitors

Answer 19

Differentiation

Question 20

Focus on operational efficiency, in order to achieve cost advantages against competitors

Answer 20

Cost leadership

Question 21

Meet customer needs and preferences. Involves tailoring products, services, and customer experiences accordingly.

Answer 21

Customer focus

Question 22

Identifying a target, specific, market segment. Help market sales, and distribution efforts.

Answer 22

Market segmentation

Question 23

Monitor and analyze competitors — respond to market Dynamics

Answer 23

Competitive analysis

Question 24

Create organizational structures that allow the agility and quick response to market changes

Answer 24

Agile and responsive structure

Question 25

Functional level strategy key aspects

Answer 25

Operations
Marketing sales
Human resources
Technology and innovation
Financial management
Collaboration and communication

Question 26

Ensure operational process align to the overall business strategy

Answer 26

Operations

Question 27

Align sales for target market segments

Answer 27

Marketing sales

Question 28

Responsible for recruitment — hiring skillful employees

Answer 28

Human resources

Question 29

Integrate technology that will support functional strategy

Answer 29

Technology and innovation

Question 30

Adapt to trends and help foster culture innovation

Answer 30

Technology and innovation

Question 31

Allocate financial resources in line with the functional properties

Answer 31

Financial management