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Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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1. Elvis owns three recording studios across Tennessee. He has set a goal for his company of cutting costs in all his locations over the next three years. Elvis has set a (n)_____.
- Strategic goal
- Management guideline
- Tactical goal
- Business plan
- Operational goal
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- Evaluate the functional strategies of a company and explain how these can be implemented and evaluated. a. In general terms, what are functional strategies and what is their importance? b. What are functional strategies? c. How can a manager implement the functional strategies and evaluate their effectiveness?arrow_forwardSHORT ANSWER If you were a business owner, which of these goals might you be able to accomplish using the framework of Theory Z or Theories X and Y? Could you use Theory Z to work on one goal and use Theories X and Y to work on another goal, thereby accomplishing two goals with these theories by using a different approach on each of the two goals? Goal 1: Improve quality of a product or service. Goal 2: Improve employee collaboration. Goal 3: Foster decision making skills in the workforce. Goal 4: Develop and maintain a successful workforce in a global environment. Goal 5: Develop strong leadership in the work place. Goal 6: Foster adherence to organizational values, ethics, and professional responsibility.arrow_forwardSWOT, Strengths, Weaknesses, Opportunities, Threats. 1. Produce a new business idea. 2. Conduct a SWOT analysis for the new business idea developed 3. Identify a minimum of 5 items for each component in the SWOT analysis.arrow_forward
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