Business Strategy and Management True/False Quiz
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Questions and Answers

Which of the following is true about strategy?

  • It only focuses on maximizing sales
  • It is a short-term plan that guides a company's daily operations (correct)
  • It has no impact on daily operations
  • It is a long-term plan that guides a company's daily operations

    • What is an incorrect statement regarding financial management?

  • One of the main goals is to minimize sales
  • One of the main goals is to maximize cost
  • Both a and b are incorrect
  • None of the above (correct)

    • Are IKEA customers allowed home delivery for their purchases?

  • The statement does not provide this information
  • No, they are not allowed home delivery (correct)
  • Home delivery is only available for certain products
  • Yes, they have the option for home delivery

    • Was CocaCola's #MakeItHappy campaign a successful social media campaign?

    <p>No, it was not successful</p> Signup and view all the answers

    Is long-term debt required to be paid within a year?

    <p>Yes, it must be paid within a year</p> Signup and view all the answers

    What does direct procurement relate to?

    <p>Goods and services that do not support the company products</p> Signup and view all the answers

    What does competitive advantage refer to?

    <p>The resources and competencies a company can use to provide value to customers</p> Signup and view all the answers

    What does the term 'vision' represent in a company?

    <p>The strategic intent or desired future state of the company</p> Signup and view all the answers

    What is the Marketing Mix composed of?

    <p>Product, Promotion, Price, and Place</p> Signup and view all the answers

    What does direct procurement relate to?

    <p>Goods and services related to the main products of the company</p> Signup and view all the answers

    What does the income statement measure?

    <p>The performance over a specific period of time</p> Signup and view all the answers

    What is Net Working Capital defined as?

    <p>The difference between current assets and current liabilities</p> Signup and view all the answers

    What does Technology Development refer to?

    <p>The modern methods that give support to achieve the work</p> Signup and view all the answers

    What is Porter's value chain model used for?

    <p>To capture the value added in each activity of the company</p> Signup and view all the answers

    What is finance about?

    <p>The amount of money and the management of such amount of money</p> Signup and view all the answers

    'Selective hiring techniques' are used for what purpose?

    <p>'The more you charge, the more value or quality your customers will expect for their money.'</p> Signup and view all the answers

    Study Notes

    Strategy

    • A plan of action designed to achieve a particular goal or set of goals.

    Financial Management

    • Does not require long-term debt to be paid within a year.

    Logistics and Delivery

    • IKEA customers are allowed home delivery for their purchases.

    Social Media Marketing

    • CocaCola's #MakeItHappy campaign was a successful social media campaign.

    Procurement

    • Direct procurement relates to purchasing raw materials, goods, or services directly from a supplier.

    Competitive Advantage

    • Refers to a company's ability to perform at a higher level than its competitors.

    Company Vision

    • Represents a company's desired future state or position.

    Marketing Mix

    • Composed of four Ps: Product, Price, Place, and Promotion.

    Financial Statement Analysis

    • The income statement measures a company's revenues and expenses over a particular period.

    Working Capital

    • Net Working Capital is defined as a company's current assets minus its current liabilities.

    Technology Development

    • Refers to the process of creating new or improved products, processes, or services.

    Value Chain Analysis

    • Porter's value chain model is used to analyze the activities that create value for a company's customers.

    Finance

    • The management of money and investments for individuals, businesses, and organizations.

    Human Resources

    • Selective hiring techniques are used to identify and recruit the best-qualified candidates for a job.

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    Description

    Test your knowledge of business strategy and management with this True/False quiz. Assess your understanding of topics such as strategy, financial management, customer service, and social media campaigns.

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