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BS: Business Strategy > Implementation of Strategy - General Questions > Flashcards

Implementation of Strategy - General Questions Flashcards

0
Q

WHAT ARE THE LIMITATIONS OF BUDGETS?

A
  • demotivated employees if budget is unattainable
  • slack may be budgeted for by managers to make it
    more achievable
  • focuses on short term results
  • can cause short term decision making
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1
Q

WHAT ARE THE BENEFITS OF BUDGETS?

A
  • promotes forward thinking
  • helps coordinate various aspects of organisation
  • motivates performance
  • provides basis for system control
  • provides system of authorisation
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2
Q

WHAT FEATURES DO SUCCESSFUL BUDGET HAVE?

A
  • respect for senior managers
  • accountability
  • challenging but achievable targets
  • targets, short reporting terms
  • provokes action
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3
Q

WHAT IS HUMAN RESOURCE MANAGEMENT?

A

A strategic and coherent approach to the management of an organisations most valued assets; the people working there.

The creation, development and maintenance of an effective workforce, matching the requirements of the organisation and responding to the environment.

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4
Q

WHAT THINGS SHOULD BE CONSIDERED IN DEMAND FOR LABOUR EXCEEDS SUPPLY?

A
  • recruitment
  • retraining
  • retention
  • incentives to improve productivity
  • overtime
  • outsourcing
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5
Q

WHAT THINGS SHOULD BE CONSIDERED IN SUPPLY FOR LABOUR EXCEEDS DEMAND?

A
  • impact of natural waste
  • redundancies
  • early retirement
  • transfers
  • short time working
  • part time working
  • job shares
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6
Q

WHAT IS PURE RESEARCH?

A

Original research to obtain new knowledge or understanding - no obvious commercial or practical end in view.

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7
Q

WHAT IS APPLIED RESEARCH?

A

Research with an obvious commercial end in view.

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8
Q

DEFINE OPERATIONS

A

Operations involves the transformational process of changing inputs into outputs in order to add value. Operations management involves the design, creation, implementation and control of these processes.

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9
Q

WHAT 5 CHARACTERISTICS ARE REQUIRED TO OPERATE EFFECTIVELY UNDER JIT PRODUCTION?

A

1) high quality
2) speed
3) reliability
4) flexibility
5) low costs

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10
Q

WHAT ARE THE ADVANTAGES OF SINGLE SOURCING OF SUPPLIES?

A
  • strong relationships with supplier
  • better communication with supplier
  • economies of scale
  • better quality through QA programmes
  • better communication
  • confidentiality
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11
Q

WHAT ARE THE ADVANTAGES OF MULTIPLE SUPPLIERS?

A
  • reduced supplier power (competition could
    drive down prices)
  • less disruption if problems with one supplier
  • wider range of knowledge/ expertise
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12
Q

WHAT ETHICAL FACTORS SHOULD BE CONSIDERED WHEN SELECTING A SUPPLIER?

A
  • human rights of workers within supplier firm
  • health and safety
  • environmental protection
  • contracting
  • fraud/ corruption/ gifts
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13
Q

WHAT ARE THE QUALITIES OF GOOD INFORMATION? (ACCURATE)

A 
Accurate
Complete
Cost < benefit
User targeted
Relevant
Authoritative
Timely
Easy to use
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14
Q

WHAT ARE THE POSSIBLE BENEFITS OF INFORMATION SYSTEMS?

A
  • increased revenue (identifies new opportunities)
  • cost saving
  • enhanced service
  • improved decision making
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15
Q

WHAT ARE SOME OF THE RISKS ASSOCIATED WITH THE DEVELOPMENT OF NEW INFORMATION SYSTEMS?

A

ANALYSIS

  • problems not understood properly
  • insufficient resources
  • lack of consultation/ user input
  • lack of time
  • lack of planning

DESIGN

  • lack of user input
  • lack of flexibility
  • unforeseen changes needed in work patents
  • inadequate impact analysis
  • key issues overlooked

PROGRAMMING

  • insufficient resources
  • poor specifications
  • poor programming
  • poor documentation

TESTING

  • insufficient resources
  • lack of user input
  • testing not organised properly
  • testing not reviewed properly

CONVERSION

  • insufficient resources allocated to data conversion
  • insufficient checking between old and new files
  • rushed

IMPLEMENTATION

  • insufficient resources
  • lack of user training
  • poor documentation
  • lack of performance standards
  • inadequate maintenance provision
16
Q

WHAT ARE CULTURAL BARRIERS TO CHANGE?

A

POWER STRUCTURE
Existing decision makers will fear they will loose power and status as a result of the change and will therefore resist it

GROUP INERTIA
Group will be resistant to change when their norms of the importance of their skills are threatened by change.

STRUCTURAL INERTIA
The cumulative effect of all procedures and systems the com pay has previously installed act as a barrier to change.

17
Q

WHAT ARE PERSONNEL BARRIERS TO CHANGE?

A
  • habit
  • security
  • effect on earnings
  • fear of unknown
  • selective information processing

BS: Business Strategy (5 decks)

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