Podcast
Questions and Answers
What is the primary goal of strategic management in a franchise business?
What is the primary goal of strategic management in a franchise business?
- Maintaining low performance
- Avoiding competent workforce
- Ignoring market share
- Developing plans to achieve objectives (correct)
Which of the following is NOT a priority for strategic decisions in building a franchise business?
Which of the following is NOT a priority for strategic decisions in building a franchise business?
- Continually improving efficiency
- Positioning the franchise system in long terms
- Gaining and maintaining market shares
- Being average in products and services (correct)
What is the purpose of continually improving efficiency in a franchise business?
What is the purpose of continually improving efficiency in a franchise business?
- To increase financial returns (correct)
- To ignore workforce competence
- To slow down market share growth
- To decrease quality
Why is it important for a franchise system to position itself for the long term?
Why is it important for a franchise system to position itself for the long term?
How does strategic management provide overall direction in a franchise business?
How does strategic management provide overall direction in a franchise business?
What is a key principle discussed in leadership for a franchisor?
What is a key principle discussed in leadership for a franchisor?
What is the main purpose of vision and strategy development in a business?
What is the main purpose of vision and strategy development in a business?
Which of the following is not an area for operations development in a franchisor's organization?
Which of the following is not an area for operations development in a franchisor's organization?
What does administrative development in franchising aim to achieve?
What does administrative development in franchising aim to achieve?
Which of the following is a key consideration under the 'Human Resource' section of franchisor development?
Which of the following is a key consideration under the 'Human Resource' section of franchisor development?
What is one of the objectives of operations development in a franchisor's organization?
What is one of the objectives of operations development in a franchisor's organization?
In strategic management, what does 'setting future direction' primarily involve?
In strategic management, what does 'setting future direction' primarily involve?
What are the key leadership principles important to franchising as mentioned in the text?
What are the key leadership principles important to franchising as mentioned in the text?
Which of the following is NOT a component of 'Directing' in leadership principles for franchising?
Which of the following is NOT a component of 'Directing' in leadership principles for franchising?
How does the text define 'Controlling' in the context of leadership principles for franchising?
How does the text define 'Controlling' in the context of leadership principles for franchising?
What is the primary focus of 'Motivating' in the leadership principles important to franchising?
What is the primary focus of 'Motivating' in the leadership principles important to franchising?
In the context of franchising leadership principles, what does 'Innovating' primarily refer to?
In the context of franchising leadership principles, what does 'Innovating' primarily refer to?
What are the four factors required for a successful leader in a franchising organization?
What are the four factors required for a successful leader in a franchising organization?
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