At a recent Board Meeting the Directors of an office fitting company ratified the company's mission as:
To meet or undercut all our competitors' prices'
Which of the following is MOST LIKELY to be the company's vision?
A vision statement is a concise and inspiring statement of what the organisation aspires to be in the future. It should reflect the organisation's core values and purpose, and provide direction and motivation for its stakeholders. A vision statement should not be too specific or focused on the current state of the organisation, but rather on the desired future state. Therefore, option A is the best choice, as it expresses a clear and aspirational vision that aligns with the company's mission of meeting or undercutting all its competitors' prices. Option B is too narrow and does not capture the essence of the organisation's purpose. Option C is too vague and does not indicate how the organisation will achieve its goal. Option D is too generic and does not differentiate the organisation from its competitors.
TeamClothing sells clothes through its shops based around the country If a customer in a shop cannot find the item they wish to buy. a sales assistant can order it for them online and when it arrives, the customer can then collect the item from the shop
Customers may also order directly from TeamClothing's website Orders from the website are usually delivered to the customer's home address Online customers also automatically receive a monthly catalogue from the firm, which lists current offers
Three events are of particular interest:
Shop sales assistants ordering items for a customer online Customers ordering through the website Sending a monthly catalogue to website customers
How would these events be classified'?
An event is something that happens or occurs within or outside an organisation or project that triggers or affects an activity or process. Events can be classified into three types: external, internal and time-based. Therefore, option B is the correct answer, as it correctly classifies the events of interest in this scenario according to their types. External events are events that originate from outside the organisation or project and are beyond its control or influence. An example of an external event in this scenario is customers ordering through the website, as it originates from outside TeamClothing and is beyond its control or influence. There are two external events in this scenario. Internal events are events that originate from within the organisation or project and are under its control or influence. An example of an internal event in this scenario is shop sales assistants ordering items for a customer online, as it originates from within TeamClothing and is under its control or influence. There are no internal events in this scenario. Time-based events are events that occur at regular intervals or on specific dates or times. An example of a time-based event in this scenario is sending a monthly catalogue to website customers, as it occurs at regular intervals (every month). There is one time-based event in this scenario.
A company is reviewing its critical success factors and key performance indicators So far. it has key performance indicators for the following
The time to deliver orders for products Consumer satisfaction with products Wastage in product production The qualifications of production employees
Which area of Kaplan and Norton's balanced business scorecard has NOT been considered?
Kaplan and Norton's balanced business scorecard is a strategic management tool that helps organisations to measure their performance across four perspectives: financial, customer, internal business process and learning and growth. The financial perspective focuses on how the organisation creates value for its shareholders and stakeholders. It includes measures such as revenue, profit, return on investment and cash flow. The customer perspective focuses on how the organisation meets the needs and expectations of its customers. It includes measures such as customer satisfaction, loyalty, retention and market share. The internal business process perspective focuses on how the organisation delivers its products and services to its customers. It includes measures such as quality, efficiency, productivity and innovation. The learning and growth perspective focuses on how the organisation develops its capabilities and competencies to achieve its goals. It includes measures such as employee skills, knowledge, motivation and empowerment. Therefore, option D is the correct answer, as financial measures have not been considered in the given list of key performance indicators. Option A is not correct, as learning and growth measures have been considered in the qualifications of production employees. Option B is not correct, as internal business process measures have been considered in the time to deliver orders for products and wastage in product production. Option C is not correct, as customer measures have been considered in consumer satisfaction with products.
You have been asked to explain divergent and convergent thinking to a colleague How would you describe the purpose of both divergent and convergent thinking to them
Select the BEST TWO answers
Divergent thinking and convergent thinking are two types of thinking processes that can be used to solve problems creatively and effectively. Therefore, options A and B are correct answers, as they describe the purpose of both divergent and convergent thinking respectively. Option A describes the purpose of divergent thinking, which is to generate ideas. Divergent thinking involves exploring multiple possible solutions to a problem without judging or evaluating them. It helps to stimulate creativity and innovation by expanding the range and diversity of ideas. Option B describes the purpose of convergent thinking, which is to review ideas for way forward. Convergent thinking involves analysing and evaluating multiple possible solutions to a problem and selecting the best one for further development and implementation. It helps to ensure feasibility and suitability by narrowing down the range and diversity of ideas. Option C describes an aspect of divergent thinking, which is creatively considering multiple solutions to the problem, but not its purpose. The purpose of divergent thinking is to generate ideas, not just consider them creatively. Option D describes an aspect of convergent thinking, which is defining the solution in detail, but not its purpose. The purpose of convergent thinking is to review ideas for way forward, not just define them in detail. Option E describes an aspect of convergent thinking, which is defining the action to be taken, broadly, but not its purpose. The purpose of convergent thinking is to review ideas for way forward, not just define the action to be taken, broadly.
As pari of a strategic review for a recording company, Exquisite Analogue, Jay has been asked to undertake a resource audit As a result of him meeting with key stakeholders he has compiled a list of statements
Which THREE of the following SHOULD be included in the resource audit?
A resource audit is a technique for identifying and evaluating the resources that an organisation has or needs to achieve its objectives. It helps to assess the availability and quality of an organisation's resources, such as human, physical, financial and intangible resources. Therefore, options A, B and C are correct answers, as they should be included in the resource audit for Exquisite Analogue. They describe different types of resources that the organisation has and that contribute to its performance and potential. Option A describes a physical resource, which is a tangible asset that an organisation owns or uses, such as buildings, equipment or materials. Option B describes an intangible resource, which is a non-physical asset that an organisation owns or uses, such as intellectual property, brand or reputation. Option C describes a human resource, which is a person or group that an organisation employs or engages, such as staff, managers or customers. Option D is not a correct answer, as it should not be included in the resource audit for Exquisite Analogue. It describes a threat that affects the organisation externally, not a resource that the organisation has or needs internally. Option E is not a correct answer, as it should not be included in the resource audit for Exquisite Analogue. It describes a factor that affects the organisation externally, not a resource that the organisation has or needs internally.
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