semi final - business and functional level

Question 1

Key elements to the implementation of business and functional level strategies

Answer 1

programs
budget
procedures

Question 2

The programs, budgets, and procedures at the ____ must be anchored on the objectives of a business unit.

Answer 2

business level

Question 3

The programs, budgets, and procedures at the ______ must be anchored on the objectives of the functional units.

Answer 3

functional level

Question 4

who formulate and implement strategies

Answer 4

middle and lower level managers

Question 5

activities needed to achieve the objective

Answer 5

programs

Question 6

expected revenue and cost of the program

Answer 6

budget

Question 7

steps to accomplish the program

Answer 7

procedures

Question 8

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

Answer 8

strategic program

Question 9

all programs anchored on the general business objectives

Answer 9

strategic program

Question 10

steps in preparing a program

Answer 10

1. define the business or functional objective
2. set the key performance indicator
3. identify people involved, dates for program review and completion time
4. prepare a program report

Question 11

first step in setting the program
must be horizontally consistent
smart

Answer 11

define the business or functional objective

Question 12

determine how a company effectively achieves its objectives

Answer 12

set the KPI

Question 13

most KPIs fall under the following classifications

Answer 13

1. increase customer value
2. improved production processes
3. reduced manufacturing cost
4. increase sales revenue

Question 14

requires people to execute the strategic activities to pinpoint responsibilities and accountabilities
must include probable dates for review
expected completion time must also be spelled out in the program

Answer 14

identify people involved, dates for program review and completion time

Question 15

should include expected business risk, problems encountered, hindrances and limitations faced and reccomendations

Answer 15

prepare a program report

Question 16

a plan expressed in quantitative, monetary value

Answer 16

budget

Question 17

based on the business and functional level strategic objectives and program

Answer 17

budget

Question 18

the budget may serve as a ____ in the implementation strategy

Answer 18

control mechanism

Question 19

also standard operating procedures (SOP), specify the detailed step by step process to be carried out to achieve the completion of a program

Answer 19

procedures

Question 20

formats of sop

Answer 20

simple step format
hierarchal step format
flowchart format

Question 21

the procedures must be ___ to discourage finger pointing in times when results are not favorable or cannot be determined

Answer 21

documented

Question 22

the drafting is influenced by the ___, ___, and the ____

Answer 22

strategy, objectives and program

Question 23

the rapid changes in the environment ___ the effective administration of procedures

Answer 23

influence

Question 24

business level key aspects

Answer 24

differentiation
cost leadership
customer focus
market segmentation
competitive analysis
agile and responsive structures

Question 25

distinguish business from competitors, unique implementing strategy — marketing, product innovation & superior customer service

Answer 25

differentiation

Question 26

focuses on operational efficiency, streamline the processes and optimize the value chain

Answer 26

cost leadership

Question 27

meet the customer needs & preferences, develop customer centric process

Answer 27

customer focus

Question 28

identifying a target specific segment

Answer 28

market segmentation

Question 29

monitoring and analyzing your competitors to adapt strategies accordingly

Answer 29

competitive analysis

Question 30

creating organizational structure that allows agility and quick response to market changes

Answer 30

agile and responsive structures

Question 31

translating over arching strategies into specific actions and priorities

Answer 31

business level

Question 32

requires alignment of individual functions to support and contribute to the overall strategies

Answer 32

functional level

Question 33

ensures the operational processes aligned with the business strategy. involves process optimization, quality improvement and efficiency measures

Answer 33

operation

Question 34

it is important to develop marketing strategies that will support the business level strategy. Includes the branding, promotion, pricing and distributions

Answer 34

marketing and sales

Question 35

responsible in retaining employees with skills and competencies aligned in functional and business strategy

Answer 35

human resources

Question 36

will support the functional strategies, adapting new tools. foster a culture of innovation that will improve your product

Answer 36

technology and innovation

Question 37

allocate financial resources, includes budgeting, cost control, implement financial measures to track and evaluate functional performance

Answer 37

financial management

Question 38

ensures cohesive approach strategic implementation – will develop communication channels

Answer 38

collaboration and communication