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BSG Final Exam With 100% Correct And Verified Answers
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BSG Final Exam With 100% Correct And Verified Answers
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BSG Final Exam With 100% Correct AndVerified Answers
Strategy - Correct Answer-consists of the competitive moves and
business approaches that managers employ to attract and please
customers, compete successfully, pursue opportunities to grow the
business, respond to changing market conditions, conduct
operations, and achieve the targeted financial and market
performance.
The heart and soul of any strategy - Correct Answer-is the actions
and moves int he marketplace that managers are taking to gain a
competitive advantage over rivals
A company's business model - Correct Answer-sets forth how its
strategy and operating approaches will create value for customers
while at the same time generating revenues sufficient to cover costs
and realize a profit.
The difference between a company's strategy and a company's
business model is that - Correct Answer-its strategy is defined by the
specific market positioning, competitive moves, and business
approaches management employs to try to produce good business
results while its business model relates to management's blueprint
for delivering a valuable product or service to customers in a
manner that will generate revenues sufficient to cover costs and
yield an attractive profit.
A company's strategic vision concerns - Correct Answer-a
company's long-term direction and what product-customer-market
business mix seems optimal for a the road ahead.
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, A company's mission statement typically addresses which of the
following questions? - Correct Answer-"who we are, what we do,
and why are we here"
Objectives - Correct Answer-are an organization's performance
targets—the results and outcomes management wants to achieve.
They function as yardsticks for measuring how well the organization
is doing
A best practice - Correct Answer-- Is a method or technique
employed by at least one enterprise and shown to be unusually
effective in lowering costs improving quality or performance,
shortening time requirements, enhancing safe, or achieving one or
more other highly positive operating outcomes.
- A means of performing and activity or process that yields results
consistently superior to other approaches
TQM - Correct Answer-Is a performance improvement tool that
emphasizes involvement and empowerment of employees at all
levels, continuous improvement in all phases of operations, 100%
accuracy in performing tasks and total customer satisfaction.
Six Sigma Programs - Correct Answer-Are based on three
principals. All work is a process, all processes have variability, and
all processes create data that explains variability.
The big difference between business process reengineering and
continuous improvement programs like TQM and Six Sigma is that
- Correct Answer-Business process reengineering is a tool for
achieving one time quantum improvement whereas TQM and Six
Sigma programs aim at ongoing incremental improvements.
Business process reengineering is a tool for - Correct Answer-
Addressing the sub optimal performance problems that can arise
when pieces of strategy critical activities are scattered across
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