Mastering Strategic Planning
23 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which type of business entity requires a legal instrument to be created as a commercial corporation?

  • Partnership
  • Sole Proprietorship
  • Joint Venture
  • Corporation (correct)
  • Which type of business relationship between architectural practices is defined for a limited purpose or objective, without some of the inherent duties and responsibilities of a partnership?

  • Partnership
  • Corporation
  • Joint Venture (correct)
  • Sole Proprietorship
  • Which type of business entity is an unincorporated relationship between architects for carrying on business in common?

  • Sole Proprietorship
  • Joint Venture
  • Corporation
  • Partnership (correct)
  • Which document describes the operational systems that a firm will put into place to deliver products and services?

    <p>Business plan</p> Signup and view all the answers

    What does the business plan provide answers to?

    <p>Real-world questions</p> Signup and view all the answers

    What is one of the most difficult aspects for an emerging proprietor in completing a business plan?

    <p>Finding and securing initial commissions</p> Signup and view all the answers

    What is the difference between a business plan and a strategic plan?

    <p>Business plans outline operational systems, while strategic plans outline management strategies</p> Signup and view all the answers

    Which type of ownership is the most common for architectural practices in Canada?

    <p>Sole proprietorship</p> Signup and view all the answers

    What is the purpose of a partnership agreement for an architectural practice?

    <p>To deal with expansion, difficulties, and disagreements</p> Signup and view all the answers

    Which tool or technique is useful in the strategic planning process for identifying underlying causes of problems?

    <p>Affinity analysis</p> Signup and view all the answers

    What should architects do before structuring a practice?

    <p>All of the above</p> Signup and view all the answers

    Which of the following is NOT a common generic style as described by The Coxe Group?

    <p>Eclectic</p> Signup and view all the answers

    What is the purpose of a business model?

    <p>To describe what value the business will offer the marketplace</p> Signup and view all the answers

    What is the relationship between the business model, business plan, and strategic plan?

    <p>They are three related but different documents</p> Signup and view all the answers

    What is the business model canvas?

    <p>A process and tools for exploring how a firm approaches doing business</p> Signup and view all the answers

    Which department is responsible for supervising and directing the work related to the design of a project?

    <p>Architect</p> Signup and view all the answers

    Which professional service is important for an architect to establish a relationship with?

    <p>Accountant</p> Signup and view all the answers

    What type of insurance is specialized for architects?

    <p>Professional liability insurance</p> Signup and view all the answers

    Why should architects seek the advice of a financial investment professional?

    <p>To plan for retirement</p> Signup and view all the answers

    Which of the following is a reason for creating a partnership of corporations in an architectural practice?

    <p>To preserve the individual identity of two or more corporations</p> Signup and view all the answers

    What is the purpose of a joint venture in the context of architectural practice?

    <p>To provide complementary services for a particular project</p> Signup and view all the answers

    What are multi-disciplinary firms in the context of architectural practice?

    <p>Professional companies that include architects and other professionals</p> Signup and view all the answers

    What is the purpose of subdividing staff into groups or departments in larger architectural practices?

    <p>To specialize in one type or stage of architectural services</p> Signup and view all the answers

    More Like This

    Mastering Strategic Planning
    23 questions

    Mastering Strategic Planning

    WorthwhilePyrite5473 avatar
    WorthwhilePyrite5473
    Mastering Strategic Planning
    30 questions

    Mastering Strategic Planning

    WorthwhilePyrite5473 avatar
    WorthwhilePyrite5473
    Mastering Strategic Planning
    9 questions
    Mastering Strategic Planning
    5 questions

    Mastering Strategic Planning

    WellMadeEnlightenment avatar
    WellMadeEnlightenment
    Use Quizgecko on...
    Browser
    Browser