Podcast
Questions and Answers
What is the typical time frame for which policy decisions commit a firm?
What is the typical time frame for which policy decisions commit a firm?
- 5 months
- 5 days
- 5 weeks
- 5 years (correct)
Why are a firm's image and competitive advantages tied to its policy decisions?
Why are a firm's image and competitive advantages tied to its policy decisions?
- To create consistency and recognition (correct)
- To confuse competitors
- To maintain secrecy
- To increase employee turnover
Which level of business policy involves Product, geographic, and functional area managers?
Which level of business policy involves Product, geographic, and functional area managers?
- Individual level
- Business level
- Corporate level
- Functional level (correct)
What are the consequences of policy decisions on most areas of the firm?
What are the consequences of policy decisions on most areas of the firm?
Which level of business policy involves the board of directors, CEO & administration?
Which level of business policy involves the board of directors, CEO & administration?
What does Dr. Obi Berko Damoah emphasize about firms shifting away from their policies?
What does Dr. Obi Berko Damoah emphasize about firms shifting away from their policies?
What is NOT a social factor that influences the remote environment of a firm?
What is NOT a social factor that influences the remote environment of a firm?
Which of the following is considered a political constraint on firms?
Which of the following is considered a political constraint on firms?
What is one of the economic factors that form part of the remote environment of a firm?
What is one of the economic factors that form part of the remote environment of a firm?
Which social change is NOT mentioned as part of the remote environment of a firm?
Which social change is NOT mentioned as part of the remote environment of a firm?
What is NOT a political factor influencing the remote environment of a firm?
What is NOT a political factor influencing the remote environment of a firm?
Which economic factor does NOT influence the remote environment of a firm?
Which economic factor does NOT influence the remote environment of a firm?
What is a characteristic of substitute products that deserve strategic attention?
What is a characteristic of substitute products that deserve strategic attention?
In what scenario does intense rivalry occur among competitors in an industry?
In what scenario does intense rivalry occur among competitors in an industry?
What key question should be asked to understand the boundaries of an industry in competitive analysis?
What key question should be asked to understand the boundaries of an industry in competitive analysis?
Why do substitute products limit profits and reduce industry bonanzas in boom times?
Why do substitute products limit profits and reduce industry bonanzas in boom times?
What factor creates a strong temptation to cut prices and intensify rivalry in an industry?
What factor creates a strong temptation to cut prices and intensify rivalry in an industry?
When does rivalry intensify due to competitors being diverse in policy, origin, and personality?
When does rivalry intensify due to competitors being diverse in policy, origin, and personality?
What is a key success factor in designing an effective plan?
What is a key success factor in designing an effective plan?
What are the topics covered in the session according to Dr. Obi Berko Damoah's outline?
What are the topics covered in the session according to Dr. Obi Berko Damoah's outline?
What is clarified during the session regarding human resource information systems?
What is clarified during the session regarding human resource information systems?
What will students be able to do by watching and listening to the video according to the learning objectives?
What will students be able to do by watching and listening to the video according to the learning objectives?
What are the grand policies that decision makers use in forming a firm's competitive plan according to Dr. Obi Berko Damoah?
What are the grand policies that decision makers use in forming a firm's competitive plan according to Dr. Obi Berko Damoah?
What aspect is presented regarding the merits and demerits of having a business policy information system?
What aspect is presented regarding the merits and demerits of having a business policy information system?
What is a characteristic of Fragmented Businesses?
What is a characteristic of Fragmented Businesses?
What type of businesses are characterized by achieving differentiation through product design and branding expertise?
What type of businesses are characterized by achieving differentiation through product design and branding expertise?
In what situations should companies diversify according to the text?
In what situations should companies diversify according to the text?
What defines the Synergy Approach mentioned in the text?
What defines the Synergy Approach mentioned in the text?
What sets Specialization Businesses apart from Fragmented Businesses?
What sets Specialization Businesses apart from Fragmented Businesses?
Why is achieving cost management important for profitability according to the text?
Why is achieving cost management important for profitability according to the text?
