IT ELECT FINALS

Question 1

Operate as autonomous units, and have the primary responsibility and authority for managing their basic functions

Answer 1

Strategic business unit

Question 2

Is a separate, specialized subsystem in the company which acts as an independent company. Having strategic business unit assists organizations to plan their strategies and make manufacturing decisions.

Answer 2

Strategic business unit

Question 3

A unit that produces products or services for which there is identifiable group of customers.

Answer 3

Strategic business unit

Question 4

is the sum of the actions a company intends to take to achieve long-term goals.

Answer 4

organizational strategy

Question 5

For a strategy to work, it must be converted into ___________________________________

Answer 5

smaller, shorter-term goals and plans.

Question 6

Elements important to organizational strategy include ______________________________________

Answer 6

resources, scope and the company’s core competency.

Question 7

can help your organization achieve a competitive advantage in the marketplace.

Answer 7

A business level strategy

Question 8

describes the strategic planning and implementation activities that occur in order to set and steer direction for an individual business unit.

Answer 8

business level strategy

Question 9

Strategy can be formulated at three levels, namely______________, ______________________, ____________

Answer 9

1. the corporate level
2. the business level
3. the functional level.

Question 10

________________ deals with decisions related to various business areas in which the firm operates and competes.

Answer 10

Corporate strategy

Question 11

_______________________ is formulated to realize the business unit level goals and objectives using the strengths and capabilities of your organization.

Answer 11

functional level, strategy

Question 12

Defines the business areas in which your firm will operate.

Answer 12

Corporate level strategy

Question 13

Involves defining the competitive position of a strategic business unit.

Answer 13

Business level strategy

Question 14

Formulated by the functional heads along with their teams. Involve setting up short-term functional objectives.

Answer 14

Functional level strategy

Question 15

is a structure used to organize workers. They are grouped based on their specific skills and knowledge.

Answer 15

functional organizational structure

Question 16

divides the organization into departments based on their function. Each is headed by a functional manager and employees are grouped as per their role.

Answer 16

A functional structure

Question 17

Every formal organization has various departments, divisions, or units mandated to do the specific tasks or jobs contributory to the overriding goal of making profits.

Answer 17

Nature of Functional Units

Question 18

is a structure used to organize workers. They are grouped based on their specific skills and knowledge.

Answer 18

functional organizational structure

Question 19

Refer to those tasks, function, or activities that a given operating unit (e.g., department, division, group, unit, or section) is duly-bound to do by the very nature of its functional category.

Answer 19

Functional responsibilities.

Question 20

Is the approach taken by a functional are or unit to achieve its objectives and duties by way of maximizing the use of its resources and in light of strategic direction as well as prevailing market competitions.

Answer 20

Functional strategy

Question 21

According to Gar, Functional strategy is a plan of action to strengthen an organization’s functional and organizational resources, as well as its coordination abilities, in order to create core competencies.

Answer 21

Gareth R. Jones

Question 22

____________________ are at the heart of competitive advantage of any firm. These strategies are a great help to the implementation of integrated business strategy of the firm. They are as basis for attaining the strategic intent of the firm.

Answer 22

Functional strategies

Question 23

In business, plans for the future are defined with goals and objectives. Together these goals are the basis for the strategy that is drawn up to actually achieve them. Strategies determine the results, performance, and goals that have to be achieved. All functional strategy must contribute to a shared vision.

Answer 23

Harmony among functional strategies