Podcast
Questions and Answers
What is the primary role of functional strategy in an organization?
What is the primary role of functional strategy in an organization?
- Maximizing operational efficiency without considering corporate objectives.
- Achieving corporate and business unit goals by optimizing resource productivity. (correct)
- Focusing exclusively on cost-cutting measures across departments.
- Replacing corporate strategy by focusing on short-term gains.
Which of the following is NOT a key functional strategy?
Which of the following is NOT a key functional strategy?
- Financial Strategy
- Research & Development Strategy
- Marketing Strategy
- Strategic Alliance Strategy (correct)
Which of the following is an example of a market development strategy?
Which of the following is an example of a market development strategy?
- Developing new products for new markets.
- Capturing a larger share of an existing market for current products. (correct)
- Entering an entirely unrelated industry.
- Reducing operational costs by outsourcing production.
What is the primary difference between a push marketing strategy and a pull marketing strategy?
What is the primary difference between a push marketing strategy and a pull marketing strategy?
Which of the following is an example of a pull marketing strategy?
Which of the following is an example of a pull marketing strategy?
What is the key financial trade-off in corporate strategy?
What is the key financial trade-off in corporate strategy?
What is a leveraged buyout (LBO)?
What is a leveraged buyout (LBO)?
Which of the following is an example of selling a company’s patents for strategic gain?
Which of the following is an example of selling a company’s patents for strategic gain?
What is the key difference between a technological leader and a technological follower?
What is the key difference between a technological leader and a technological follower?
Which of the following is an example of open innovation?
Which of the following is an example of open innovation?
Which of the following best describes a mass-production system?
Which of the following best describes a mass-production system?
Which production strategy focuses on continuous improvement?
Which production strategy focuses on continuous improvement?
What is the key advantage of multiple sourcing in purchasing strategy?
What is the key advantage of multiple sourcing in purchasing strategy?
What is the purpose of just-in-time (JIT) inventory management?
What is the purpose of just-in-time (JIT) inventory management?
What is the primary benefit of a 360-degree appraisal in HRM strategy?
What is the primary benefit of a 360-degree appraisal in HRM strategy?
Which IT strategy allows multinational corporations to maintain round-the-clock productivity?
Which IT strategy allows multinational corporations to maintain round-the-clock productivity?
Which strategy should companies avoid due to high risks and limited rewards?
Which strategy should companies avoid due to high risks and limited rewards?
What is the purpose of constructing corporate scenarios?
What is the purpose of constructing corporate scenarios?
Flashcards
Role of Functional Strategy
Role of Functional Strategy
Optimizing resource productivity to achieve corporate and business unit goals.
Key Functional Strategies
Key Functional Strategies
Methods that guide specific resources toward achieving goals, excluding Strategic Alliance Strategy.
