NOUN TMA Solutions: BUS317 - Production Management

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NOUN TMA Solutions: BUS317 - Production Management

Postby Adele » Wed Jul 11, 2018 4:43 am

NOUN TMA Solutions: BUS317 - Production Management
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Q1 A major characteristic of a Just-in-Time system is ____________

Multiple manufacturing cell s

Q2 To implement and operate an effective capacity requirement planning system, it is necessary to have

Accurate and up-to-date inventory records
A computer and necessary oftware
***All of the above
None of the abov e

Q3 What is the major informational needs that must be met for an effective aggregate planning to take place? _______________

Available sources o ver the planning period

Q4 Which of the followings is an informal technique widely used by aggregate planners? ____________

Periodic determination of demand

Q5 The following options are available for altering production capacity, except _________

Wage varia tions

Q6 The followings are the basic demand options, except ____________


Q7 Which of the following informational needs must be met for an effective aggregate planning to take place? ___________
Available sources over the planning period
Forecast of expected demand
***All of the above
None of the abov e

Q8 Capacity requirement planning can be defined as _____________

The process of determining shortage capacity requ irements

Q9 The annual sales at cost is given by N3,410,000, with an average aggregate inventory value of N360,500, What is the inventory turnover? ____________

9.5 turns

Q10 The major purpose of aggregate planning is to develop _____________

A feasible production plan

Q11 The first step in an acquisition process is to _____________

Recognise the need

Q12 In materials management, which of the following structures recognise that materials management tasks are part of the supply chain management activity? ____________-

Integrated structu re

Q13 Which of the following is the mostly used quantitative approach to site selection? _______________

Break-even analysis

Q14 Given that the annual demand is 200 units and the ordering cost is N50,000, what is the optimum order quantity? _____________
N10,000,00 0
***None of the a bove

Q15 Uneven demand for products can be met through _____________

Matching demand periodic by period

Q16 The amount of goods or services that should be ordered by a production unit can be determined by


Q17 In operations management, marketing is concerned with _____________

Sensing, serving, and satisfyin g customer needs

Q18 Which of the followings is a basic requirement for an effective inventory management? ___________

A reliable forecast of demand

Q19 Given an average aggregate inventory value of N360,500 and a weekly sales of N65,577, What is the number of weeks of supply? ____________

5.50 weeks

Q20 Distribution can be effectively defined as ____________

The management of the flow of materials

Q21 The basic EOQ model assumes all but one of the followings _______________

Constant elasticity of supply

Q22 Effective inventory management requires ___________
A classification system for inventory items
An inventory counting system
***All of the above
None of the abov e

Q23 It has been recommended that selection of transportation modes should be based on __________
Competitive considerations

Q24 The three major criteria firms use in considering the selection of a supplier include

Price Quality and Delivery

Q25 Which of the following is the first step in an acquisition process? ___________

recognizing the nee d

Q26 It can be said that successful supply chain management requires _____________

A high degree of functional and organizational integration

Q27 The term value added in a transformation process is used to describe _____________

The difference between input costs and price of outpu ts

Q28 In materials management, which of the following structures recognise that materials management tasks are part of the supply chain management activity? _____________

Integrated structu re

Q29 A major requirement in supply-chain management is _________

Inventory control

Q30 Which of the following is the mostly used quantitative approach to site selection? ___________

Break-even analysis

Q31 The conversion process of operations function involves which of the following sequence _________

Input, transformation, and outputs

Q32 Site selection is aimed at ___________

Increasing production capacity to serve customers better

Q33 Which of the following is not an argument in the inventory cost structures?

Delivery costs

Q34 Which of the following is an important reason a firm keeps inventory? _________

To guide against shortages

Q35 A supply-chain performance can be measured by ___________

Average Inventory value

Q36 It has been recommended that selection of transportation modes should be based on _________

Competitive considerations

Q37 Effective management of technology requires _________

That managers play several but often conflicting roles

Q38 The operational function of an organization consists of ___________

Production, Storage, and communication

Q39 Concurrent engineering can be defined as ___________

The act of bringing together design engin eers and quality specialists for technology integration

Q40 A typical business organization has three basic functions, including _________

Finance, marketing, and production
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Re: NOUN TMA Solutions: BUS317 - Production Management

Postby Adele » Wed Jul 11, 2018 4:47 am
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Q41 One of the following is a major strategic consideration in the choice of technology _____________

The economic justification

Q42 The two basic stages of Research and Development include _______________

Basic research and application

Q43 Which of the followings is of utmost necessity for a successful re-engineering ____________
Information technology

Q44 Information technology is of two major components including _________________

Computing and telecommunications technol ogies

Q45 The most important role of technology in business performance has been noted as ____________
The creation of new product and process improvements

Q46 One of the following technologies that would translate ideas into new products for a firms customers

Product technology

Q47 The most widespread aspect of technology is ______________

Product technology

Q48 A major benefit from specialization is that _____________

It minimizes labour co sts

Q49 All of the following, except one are the basic strategies open to an aggregate planner

Task specialization

Q50 Job design involves _____________

Matching work activities with task groups

Q51 Innovation process can best be regarded as _____________

Focusing on technical and scientific ways of meeting market nee ds

Q52 Process improvement is an activity _____________

Involving the systematic study of the activities and flo ws of each process to improve it

Q53 Which of the following is one of the major types of process decesions? _____________

Resource flexibi lity

Q54 Which of the following forecasting techniques is used in achieving consensus within a committee?

The Delphi

Q55 The two complementary approaches to a process design would include _____________

Process re-engineering and Process improvement

Q56 The degree of automation appropriate for producing a product _____________

Must be driven by the firms operations strategy

Q57 The text discusses the ideal number of kanban cards according to the following relationship: N = DT(1+X)C. The letter D refers to ______________

Planned usage rate

Q58 A production process with rigid line flows is referred to as________________

Continuous proc ess

Q59 Which of the following is one of the primary decisions a manager should make in order to design a well-functioning operation? ______________

Choosing a process that best supports an organisations flow strategy

Q60 Which of the following is a sales forecasting technique that uses historical data to develop a prediction for the future ? ____________

Tme series

Q61 A long range forecast in production and operations management would usually involve __________

New investments an d capital expansion

Q62 All of the followings, except one, are some important roles played by a master planning team

Planning for product ion and operations management

Q63 The two main classifications of sales forecasting methods include _____________

Qualitative and quantitative metho ds

Q64 The most important advantage of demand forecasting is that it enables the production manager to
Plan for dem and

Q65 Which of the followings is one of the important strategic decisions to be made by operations managers? ____________

Allocation of res ources to strategic alternatives

Q66 Operations strategy can directly be influenced mostly by ________________

Product plan

Q67 What do you understand by 􀳦?Positioning the production systematic" _____________

Selecting the type of product design processing sy stem and inventory policy for each product group,

Q68 Market segmentation can be done using which of the following factors? ____________

Regional political and dependency factors

Q69 Needs assessment seeks to _____________

Identify the needs of each market segment and assess how well competitors are addressing those needs

Q70 Which of the following is a major type of process decision? _____________

Degree of vertical integration

Q71 The longest time sequence of activities is referred to as ______________

The path with the longest time

Q72 Which of the following is among the sequence of activities in a project? ____________-

Activities that must be p erformed before others

Q73 Production and operations management originated from ________________

The quest for prod uction of goods and services

Q74 Frederick Winslow Taylor believed that scientific management was based on ____________

Measurement economic incentives observation and analysis and improvement of work methods

Q75 One of the basic differences between manufacturing and service operations arises from __________

Durability and tangible nature of products

Q76 Process decision needs to be made whenever __________________

A new product or service is being offered

Q77 A typical business organization has three basic functions, including ______________

Finance, marketing, and production

Q78 Which of the following is a major requirement for transforming inputs to output? __________
The production factors

Q79 The finance function is made up of activities related to _______________ at favourable prices and allocating those resources throughout the organisation.

securing resources

Q80 Marketing is concerned with _________, serving, and satisfying the needs and wants of the present and potential customers of the organisation.

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Re: NOUN TMA Solutions: BUS317 - Production Management

Postby Adele » Wed Jul 11, 2018 4:58 am
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Q81 Corporate level strategy fundamentally is concerned with the selection of businesses in which the company should compete and with the development and 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦..of that portfolio of business.


Q82 The physical resources are the 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦..., plant and equipment, geographic location, access to raw materials, etc.


Q83 The dynamics of the 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦____________?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦. environment of an organisation can be best understood in the context of the resource-based view of firms or the resourcebased theory of strategy.


Q84 The resources,􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦..., strengths and weaknesses, synergistic effects and competencies of an organisation determine the nature of its internal environment.


Q85 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦 the inherent nature of organisations that strengths and weaknesses, like resources and behaviour, do not exist individually, but combine in a variety of ways.\\

Synergisti c effects

Q86 Financial strength, for example, is a result of the availability of sources of finances, low cost of capital, efficient use of 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦., etc.


Q87 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦... is an inherent capability which an organization can use to gain strategic advantage.


Q88 Organisational resources and behaviour combine in a complex fashion to create strengths and weaknesses within the 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦.. environment of an organisation.


Q89 Organisational behaviour is unique in the sense that it leads to the 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦? 􀳦􀳦?􀳦.. of a special identity and character of an organisation.


Q90 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦.acknowledged
that policy denotes afuture action course of intention towards the organisation activities


Q91 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦.strategy is the short term game plan


Q92 Regardless of the level of management a person belongs to, business policy helps to create an understanding of how policies are 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦.


Q93 Business policy seeks to 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?
􀳦􀳦?􀳦.. the knowledge and experience gained in various functional areas of management.


Q94 The general managers of tomorrow may be called upon to shoulder a set of entirely new responsibilities necessitating a drastic review of the emerging 􀳦?􀳦 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦 and techniques in business policy.


Q95 The resolution of strategic issues that affect the 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦... of a business firm has been a continual endeavour

Futu re

Q96 An organisation􀳦??s 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦 the purpose or reason for the
organisation􀳦??s existence.


Q97 Strategy formulation is the development of long-range plans for the effective management of environmental opportunities and threats, in the light of 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦... strengths and weaknesses.


Q98 Environmental scanning is the monitoring, evaluating and disseminating of information from the external and internal environments to key people within the 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦? 􀳦􀳦?􀳦

Corp oration

Q99 Strategic 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦.. has now evolved to the point that its primary value is in helping the organisation operate successfully in a dynamic, complex environment.

Managem ent

Q100 The strategic issues at the 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦.level are related to business processes and the value chain.


Q101 The functional level of the organization is the level of the 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦? 􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦. divisions and departments.


Q102 Michael Porter identified three generic strategies such as cost leadership, differentiation, and 􀳦? 􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦.


Q103 Corporations are responsible for creating 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦. Through their businesses.


Q104 In the mid-1990's, Aetna as a corporation was clearly identified with its commercial and property casualty 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦.. products.

Insuranc e

Q105 Policies in their nature can vary in their level of 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦? 􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦.... significance.


Q106 Policy is a blueprint of the organizational activities which are repetitive/routine in


Q107 In general, it is advisable that managers review all policies periodically, as some might have outgrown their original 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦.. or usefulness.

Purpo se

Q108 Managers must be 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦... and operate within corporate policy guidelines while formulating policies at these levels.

Consis tent

Q109 Operational strategy was popularised and encouraged by􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦.

Peter Drucker

Q110 Hicks & Gullett (1985) stated that once 􀳦?􀳦􀳦?􀳦􀳦?􀳦.. have been established, a top-level manager consider the numerous ways in which this goal could be accomplished.


Q111 Objectives and policy together provide 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦..
guidelines for the operation and management of the organization.


Q112 On the basis of the organization􀳦??s ideology of philosophy, the goals of the organisation are translated into objectives and 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦


Q113 Capabilities are most often developed in specific functional areas such as marketing or operations or in a part of a functional area such as distribution or research and 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?

Developm et

Q114 Organisational capability factors are the strategic strengths and weaknesses existing in different functional areas within an organisation, which are of crucial importance to strategy 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦? 􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦..and implementation.

Formulatio n

Q115 Crossan, Lane and 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦. (1997) define organisational learning as 􀳦?? the process of change in individual and shared thought and action, which is effected by and embedded in the institutions of the organization.

Whi te

Q116 The concept of organisational learning has spawned a whole 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦? 􀳦... of strategy thought.


Q117 Parameters affecting the function of a business policy 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦? 􀳦􀳦?􀳦.. can be introduced in three places.

Comman d

Q118 Organisational capability rests on an 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦? 􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦. capacity and the ability to use its competencies to excel in a particular field, thereby giving it strategic advantage.


Q119 An organisation uses different types of 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦.. and exhibits a certain type of behaviour.

Resource s

Q120 Corporate-level strategies concern top management and address 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦? 􀳦􀳦?􀳦.. issues of facing the organization as a corporate whole.


Q121 In large 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦.. today, for instance, the Chief
Accountant is an important contributor to advance planning and policy formulation.

Corporati on

Q122 The greater an executive􀳦??s influence on policy, the greater is his contributions and the higher his status among fellow 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦...

Executiv es

Q123 Policies are subdivided and stated in terms of 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦? 􀳦􀳦?􀳦􀳦____________?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦..

Procedure s

Q124 In some cases, some 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦... apply policies in wrong and negative ways, hiding under one excuse or the other for not carrying out some course of action.


Q125 It is not uncommon for 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦.. to declare policy for prestige purposes, such as publicity and then fail to put the policy into practice.


Q126 The type of business influences the bulk of 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦... muted out for compliance.

Policie s

Q127 Managers must be consistent with corporate policiesof the organisation while􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦? 􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦.􀳦?􀳦policies at these levels.

Formulat ing

Q128 Organisational behaviour is the manifestation of the various forces and influences operating in the 􀳦?􀳦􀳦?􀳦􀳦?􀳦.. environment of an organisation that create the ability for, or place constraints on, the usage of resources.


Q129 The cost and availability of resources are the most important factors on which the 􀳦?􀳦􀳦?􀳦􀳦? 􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦. of an organisation depends.


Q130 The 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦..-based theory of strategic
management holds that firms possess resources of which those that are valuable and rare enable them to achieve strategic advantage.


Q131 The organisational resources are the 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦.. systems and structures as well as informal relations among groups.


Q132 The 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦. resources are the training,
experience, judgement, intelligence, relationships, etc. present in an organisation.


Q133 Major policies are formulated at the top of the organization and relate to the 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦? 􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦.. main purpose.

Com pany's

Q134 Steiner's Pyramid of business policies First level is 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦? 􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦..􀳦?􀳦

Major policies

Q135 Steiner's Pyramid of business policies constitute􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦? 􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦.levels


Q136 Although, it is 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦____________?􀳦􀳦?􀳦􀳦?􀳦􀳦?
􀳦􀳦?􀳦􀳦?􀳦 think of policies as written statements, it is not necessary the case.

Customa ry

Q137 Strategies for an organization may be classified by the level of the organization responsible for the 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦..


Q138 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦. units are usually
individual enterprise-like entities oriented toward a particular industry, product or service type, and or market.


Q139 Business-level strategies are similar to corporate-strategies in that they focus on overall 􀳦?􀳦􀳦? 􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦.


Q140 Organisational 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦.is the inherent capacity or potential of an organisation to use its strengths and overcome its weaknesses in order to exploit the opportunities and face the threats in its external environment.


Q141 Many organisations achieve strategic success by building distinctive 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦? 􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦. around the critical success factors.

Compe tencies

Q142 Competencies are special qualities possessed by an 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦. that make them withstand the pressures of competition in the marketplace.

Organizati on

Q143 The choice of objectives is an essential part of the 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦.process including future courses of action.

Decisions-ma king

Q144 An explicit statement of objectives may assist 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦? 􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦.. and reduce misunderstandings, and provide more meaningful criteria for
evaluating organizational perfromance.


Q145 Objectives and policy together provide􀳦?􀳦 guidelines for the operations and management of organisation.


Q146 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦. policy is another area in which management can affect the financing structure of the company and examine whether changing dividend policy could perhaps add value.


Q147 Policies cut across all 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦... areas of the organistion


Q148 Many professionally managed companies acknowledge the fact that it is necessary to have policies in all the major 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦. areas of management.


Q149 Middle managers usually establish less critical policies relating to the operation of their sub unit.

Mid dle

Q150 The management is responsible for developing and approving major comprehensive 􀳦?􀳦􀳦?􀳦􀳦? 􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦policies.


Q151 Strategy implementation is the process by which strategies and policies are put into action through the development of programs, 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦... and procedures.


Q152 A 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦... of strategy is the grouping of strategy types by level in the organisation.


Q153 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦... strategy is the approach taken by a functional area to achieve corporate and business unit objectives and strategies by maximising resource productivity.


Q154 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦. are the end results of planned activity, they state what is to be accomplished by when and should be quantified if possible.

Objecti ves

Q155 Experience has shown that managers, specially in the area of long-range planning, have to work with incomplete 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦

Informatio n

Q156 The study of business policy should enable a student to develop analytical ability and use it to 􀳦? 􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦. the situation in a given case or incident.


Q157 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦... which is the most common pedagogical tool in business policy 􀳦?? provides illustrations of real-life business strategy formulation and implementation.

Case Stu dy

Q158 The objectives of an organisation are related to the input-conversion-output


Q159 Policies are plans in that they are general statements or understandings that guide or 􀳦?􀳦􀳦? 􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦... thinking in decision making.


Q160 Policy aims at assisting the organization to deliver services to meet the needs and expectations of the 􀳦?􀳦􀳦?􀳦􀳦?􀳦􀳦?􀳦...of the organization.

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