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Questions and Answers
What is a key component of effective risk management?
What is a key consideration in capacity planning?
What characterizes a learning organization?
What is a primary function of human resource management?
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What is a characteristic of decentralized organizational structures?
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What is a key factor in strategic planning?
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What is a method of conflict management?
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What is a benefit of effective knowledge management?
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What is customer segmentation and analysis an example of?
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What is active listening and empathy a characteristic of?
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What is competitive analysis a factor in?
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What is continuous improvement and innovation a characteristic of?
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What is timely and constructive feedback a component of?
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What is financial performance of the organization a factor influencing?
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What is efficient inventory management a characteristic of?
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What is continuous process evaluation and enhancement a method of?
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Which of the following is a component of the marketing mix?
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What is NOT a primary function of operations management?
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What is a characteristic of an effective communication process?
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What is a factor considered during the recruitment and selection process?
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What is a benefit of using technology in business operations?
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What is NOT a stage of the project life cycle?
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What is an example of an external stakeholder?
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What is an example of an intangible resource in a business organization?
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Study Notes
Effective Risk Management
- Risk assessment and mitigation are key components of effective risk management.
Capacity Planning
- Customer demand forecast is a factor considered in the process of capacity planning.
Learning Organization
- Continuous learning and knowledge sharing are characteristics of a learning organization.
Human Resource Management
- Employee recruitment and selection is a primary function of human resource management.
Organizational Structure
- Decentralized organizational structure is characterized by quick response to market changes.
Strategic Planning
- Competitor analysis is a factor considered in the process of strategic planning.
Conflict Management
- Avoidance is a method of conflict management.
Customer Relationship Management (CRM)
- Proactive customer service is a characteristic of effective CRM.
Knowledge Management
- Improved decision-making is a benefit of effective knowledge management.
Organizational Structure Influencing Factors
- Market demand is a factor influencing organizational structure.
Marketing Research
- Customer segmentation and analysis is a function of marketing research.
Effective Negotiation
- Active listening and empathy are characteristics of effective negotiation.
Pricing Strategy
- Competitive analysis is a factor considered in the process of pricing strategy.
Learning Organization
- Continuous improvement and innovation are characteristics of a learning organization.
Performance Management
- Timely and constructive feedback is a component of effective performance management.
Employee Engagement
- Financial performance of the organization is a factor influencing employee engagement.
Supply Chain Management
- Efficient inventory management is a characteristic of effective supply chain management.
Performance Improvement
- Continuous process evaluation and enhancement is a method of performance improvement.
Organizational Culture
- Leadership style is a factor influencing organizational culture.
Marketing Mix
- Distribution is a component of the marketing mix.
Operations Management
- Financial reporting is NOT a primary function of operations management.
Effective Communication
- Active listening is a characteristic of an effective communication process.
Recruitment and Selection
- Job qualifications are a factor considered during the recruitment and selection process.
Technology in Business Operations
- Improved efficiency is a benefit of using technology in business operations.
Project Life Cycle
- Termination is NOT a stage of the project life cycle.
External Stakeholders
- Suppliers are an example of an external stakeholder.
Balanced Scorecard Approach
- Employee satisfaction perspective is NOT a component of the balanced scorecard approach to performance measurement.
Market-Oriented Organization
- Customer-driven strategies are a characteristic of a market-oriented organization.
Conflict Resolution
- Compromise is a method of conflict resolution.
Intangible Resource
- Intellectual property is an example of an intangible resource in a business organization.
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Description
Test your knowledge of business management concepts, including risk management, capacity planning, and organizational characteristics.
