Business Strategy and Stakeholders Quiz

Getting things done through people, within an organization (profit or non-profit)

Setting goals and deciding how to achieve them.

Arranging tasks, people, and resources.

Influencing people to achieve organizational goals.

Monitoring performance, comparing it with goals, & adjusting.

Organizations like hospitals or schools without profit as primary goal.

Organizations operating to generate a profit.

Planning, Organizing, Leading, and Controlling.

A framework that considers three aspects of an organization's performance: social responsibility, environmental sustainability, and financial profit.

Focuses on maximizing the financial returns for the owners of the company (shareholders).

Recognizes the importance of maintaining relationships with all stakeholders, aiming for benefits for both the company and society as a whole.

Individuals or groups directly involved in the company's operations, such as employees, owners, and the Board of Directors.

Individuals or groups outside the company who have an interest in its activities, categorized into 'Task Environment' and 'General Environment'.

A measure of how productive something is. Calculated as the output (like revenue or units produced) divided by the input (resources used, like labor or materials).

Measures how well something achieves its goals. Calculated as the achieved outcome (products sold) divided by the desired outcome (products produced).

Abilities used to understand and analyze complex situations, think strategically, and develop solutions. Examples include organizing, planning, and problem-solving.

Abilities related to working with and motivating people. Examples include empathy, communication, and leadership.

Abilities related to specific tasks or processes in a particular field or industry. Examples include understanding data analysis, coding, or product design.

Roles focused on building relationships and interacting with others. Examples include being a figurehead, leader, or liaison.

Roles focused on gathering, analyzing, and sharing information within and outside the organization. Examples include being a monitor, disseminator, or spokesperson.

Roles focused on making decisions and taking action. Examples include being an entrepreneur, disturbance handler, resource allocator, or negotiator.

The process of focusing on specific information while ignoring other information, like picking out a friend's voice in a noisy room.

Deciding what the noticed information means, making sense of it based on past experiences, knowledge, and biases.

The process of saving information for later retrieval, either as details of an event, a general concept, or about a person.

Accessing stored information to make judgements and decisions, based on what you recall.

Overgeneralizing about a group of people based on limited information, ignoring individual differences.

Unconscious attitudes or stereotypes that can influence our perception and behaviour, even if we don't consciously agree with them.

Letting one positive trait (like attractiveness) influence our perception of other unrelated qualities of a person.

The level of enthusiasm and involvement an employee feels towards their work tasks.

A technique for improving decision quality where someone is assigned the role of critic to challenge assumptions and identify potential flaws in a proposed solution.

A technique that promotes discussion by presenting opposing viewpoints and encouraging debate to reach a more informed decision.

A structured process of evaluating recent decisions and actions to identify lessons learned and improve future performance.

Power derived from one's formal position or role in an organization.

Power that comes from the ability to provide rewards or incentives.

Power based on the ability to punish or threaten negative consequences.

Power derived from possessing specialized knowledge or skills.

Power based on personal charisma, attractiveness, or admiration.

Influencing tactic that relies on logical arguments, facts, and evidence to persuade others.

Influencing tactic that appeals to emotions, values, and ideals to motivate others.

The process of putting a strategy into action by aligning different departments and functions within an organization to achieve common goals.

A strategy that focuses on how specific departments or functional areas (e.g., marketing, finance, HR) will contribute to the overall organizational goals.

Obstacles that hinder the successful implementation of a strategy, encountered at different levels within the organization.

Obstacles that arise at the highest level of management (CEO, CFO, etc.) that affect the strategy implementation.

Obstacles encountered at various levels within the organizational structure that prevent a strategy from being implemented effectively.