18 Questions
What is the primary goal of strategic management in a franchise business?
Developing plans to achieve objectives
Which of the following is NOT a priority for strategic decisions in building a franchise business?
Being average in products and services
What is the purpose of continually improving efficiency in a franchise business?
To increase financial returns
Why is it important for a franchise system to position itself for the long term?
To gain and maintain market shares
How does strategic management provide overall direction in a franchise business?
By developing plans and policies to achieve objectives
What is a key principle discussed in leadership for a franchisor?
Developing competent and committed workforce
What is the main purpose of vision and strategy development in a business?
To set future direction
Which of the following is not an area for operations development in a franchisor's organization?
Quality control
What does administrative development in franchising aim to achieve?
Structural and behavioral changes in operations
Which of the following is a key consideration under the 'Human Resource' section of franchisor development?
Manpower requirements
What is one of the objectives of operations development in a franchisor's organization?
Ensure high level of efficiency
In strategic management, what does 'setting future direction' primarily involve?
Assessing issues and opportunities
What are the key leadership principles important to franchising as mentioned in the text?
Directing, Controlling, Motivating, Innovating
Which of the following is NOT a component of 'Directing' in leadership principles for franchising?
Appraisal of performance of franchisees
How does the text define 'Controlling' in the context of leadership principles for franchising?
Appraisal of performance of franchisees
What is the primary focus of 'Motivating' in the leadership principles important to franchising?
Keeping franchisees engaged and inspired
In the context of franchising leadership principles, what does 'Innovating' primarily refer to?
Franchisor's capacity for adaption and innovation
What are the four factors required for a successful leader in a franchising organization?
Vision, Articulation, Development, Strategic agenda
Learn about the essential leadership principles for success in a franchise system, both at the franchisor and franchisee level. Explore concepts such as directing, controlling, motivating, and innovating in the context of franchising.
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