Developing a Business Strategy
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Developing a Business Strategy

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Questions and Answers

What does the strategy of producing and selling environment-friendly products aim to achieve?

  • To create shortages of goods in the market
  • To avoid any changes in production plans
  • To reduce pollution and waste (correct)
  • To maximize profit by exploiting the environment

    • Which type of strategy focuses on maintaining or improving the quality of an organization's products or services?

  • Time-based strategies
  • Order qualifiers
  • Order winners
  • Quality-based strategies (correct)

    • What is the formula for calculating productivity using multi-factor measures?

  • Current Period Productivity - Previous Period Productivity
  • output/(total inputs) (correct)
  • output/(single input)
  • output/Previous Period Productivity

    • What do Order Qualifiers represent for customers?

    <p>Characteristics that customers see as minimum standards for purchase consideration</p> Signup and view all the answers

    Which type of strategy focuses on reducing the time needed to accomplish tasks?

    <p>Time-based strategies</p> Signup and view all the answers

    What are the three critical factors in developing a business strategy?

    <p>Mission, environmental scanning, and core competencies</p> Signup and view all the answers

    What is the primary focus of an Operations Strategy?

    <p>Developing competitive capabilities</p> Signup and view all the answers

    When would a company most likely adopt a price or cost strategy?

    <p>When the products offered are homogeneous in nature</p> Signup and view all the answers

    What characterizes a quality strategy according to the text?

    <p>Producing and selling high-quality goods and services</p> Signup and view all the answers

    How does competitiveness relate to meeting customer wants and needs?

    <p>By effectively meeting customer expectations compared to competitors</p> Signup and view all the answers

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