Unit 102

Question 0

The most important strengths of a business which should be central to decision making when corporate strategy is devised

Answer 0

Core capabilities (or competences)

Question 1

A strategy of a division or a subsidiary company owned by a parent company

Answer 1

Business unit ( or divisional) strategy

Question 2

The plans and policies developed to meet a company’s objective. It is concerned with what range of activities the business needs to undertake in order to achieve its goals. It is also concerned with whether the size of the business organization makes it capable of avhieving the objectives set

Answer 2

Corporate objectives

Question 3

A strategy of a division within a business, such as geographical division or a product-related division

Answer 3

Divisional/ Business unit strategy

Question 4

Strategy of a department within a business

Answer 4

Functional/ Departmental Strategy

Question 5

The period of time for which detailed plans have been made which allow a business to achieve its strategic objectives. This may vary from business to business from a few months to a few years, in part depending upon the pace of change in the markets into which a business sells

Answer 5

Planning Horizon

Question 6

The path which a business plans to follow to achieve its goals

Answer 6

Strategic direction

Question 7

The difference between where a business predicts it will be in the medium to long term and where it wants to be as shown by the objectives it has set itself

Answer 7

Strategic gap

Question 8

Planning used to achieve objective bu business

Answer 8

Strategy