26 Questions
What is the primary objective of Business Process Re-engineering?
To radical redesign of business processes
Which of the following is NOT a principle of Total Quality Management?
Cost-cutting
What is the primary goal of Six Sigma?
To reduce defects to near zero
What is the primary purpose of Benchmarking?
To identify areas for improvement
Which of the following is a characteristic of Total Quality Management?
Focus on customer satisfaction
What is the primary difference between Business Process Re-engineering and Continuous Improvement?
Re-engineering focuses on radical change, while continuous improvement is incremental
What is the primary benefit of Six Sigma?
Improved product quality
Which of the following is NOT a stage of Business Process Re-engineering?
Measure
What is the primary goal of Total Quality Management?
To improve customer satisfaction
What is the primary benefit of Benchmarking?
Identification of areas for improvement
What is the primary purpose of the BCG Matrix?
To categorize products based on market growth and relative market share
What is the main difference between the Aggressive Strategy and the Defensive Strategy in the TOWS matrix?
The Aggressive Strategy involves high risk and high return, while the Defensive Strategy involves low risk and low return
What is the main advantage of using the PERT method in project management?
It helps to identify the critical path of tasks in a project
What is the main purpose of Portfolio Analysis in business?
To categorize products based on market growth and relative market share
What is the main advantage of using the Ansoff Growth Matrix?
It provides a structured approach to growth strategy development
What is the main difference between the BCG Matrix and the Ansoff Growth Matrix?
The BCG Matrix focuses on product portfolio management, while the Ansoff Growth Matrix focuses on growth strategy development
What is the primary purpose of the TOWS Matrix?
To identify the strengths, weaknesses, opportunities, and threats facing a company
What is the main advantage of using the CPM method in project management?
It helps to identify the critical path of tasks in a project
What is the primary goal of Business Process Reengineering in an organization?
To enhance the overall performance of the organization
Which of the following tools is used to identify and adopt best practices in an organization?
Benchmarking
What is the primary objective of Six Sigma in an organization?
To identify and eliminate defects in processes
Which of the following strategies is used to improve the overall quality of products and services?
Total Quality Management
What is the primary goal of analyzing strategic edge in an organization?
To enable new business growth and expansion
Which of the following tools is used to redesign and improve business processes in an organization?
Business Process Reengineering
What is the primary benefit of implementing Total Quality Management in an organization?
Improving the overall quality of products and services
Which of the following tools is used to identify and eliminate defects in processes in an organization?
Six Sigma
Study Notes
Strategic Implementation and Control
- Strategy implementation involves designing and managing systems to achieve organizational objectives
- Implementation includes securing resources, organizing resources, and directing their use within and outside the organization
- A good strategy without effective implementation is unlikely to succeed
- Implementation covers a range of inter-related decisions, choices, and activities, including:
- Commitments and cooperation of all units, sections, and departments
- Organizational structures and strategy implementation
- Strategic change and control
Organizational Structures
- Types of organizational structures:
- Functional structure
- Divisional structure
- Matrix organization structure
- Free-form organization structure
- Each structure has its own characteristics and applications
Supporting Factors for Strategy Implementation
- Activating strategy
- Structural implementation
- Procedural implementation (e.g., licensing requirements, FEMA requirements, foreign collaboration procedures)
- Behavioral implementation (e.g., leadership, organizational culture, values, and ethics)
Strategic Control
- Role of strategic control in achieving organizational objectives
- Control process involves:
- Setting standards
- Measuring performance
- Correcting deviations
- Techniques of strategic control:
- Balance scorecard
- Other control techniques
Strategic Change Management
- Managing strategic changes involves:
- Leadership and its forms
- Organizational culture and systems
- Value and ethics
- Effective change management is critical for organizational success
Analyzing Strategic Edge
Business Process Re-engineering (BPR)
- Definition and origin of BPR
- Objectives of BPR
- Typology of BPR projects
- Factors for successful implementation of BPR
- Steps for BPR
- Case studies: Infosys, Ford, Airbnb
Benchmarking
- Definition and understanding of benchmarking
- Types of benchmarking
- Approaches and advantages of benchmarking
- Case study: Xerox process
Total Quality Management (TQM)
- Definition and principles of TQM
- Characteristics of TQM
- Implementation principles and processes of TQM
- Case study: Ford Motor Company TQM
Test your understanding of business environment concepts including internal and external factors, mission, vision, and values. Identify the key elements and their impact on business operations.
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