Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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A vision is not the responsibility of the CIO. It is the responsibility of the CEO or the top management of the team. Do you agree or disagree? Why or why not? Make sure to support your position
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- List and describe the corporate-level strategies in a company? What are the advantages and disadvantages of internal growth as opposed to growth through mergers and acquisitions? Why would management adopt a stability strategy? Can stability strategies be viable over a lengthy period of time? Explain! How should the BCG matrix be applied? Are such portfolios always useful to corporate executives? What are the advantages and disadvantages associated with corporations operating in centralized or decentralized fashions?arrow_forwardWhat is strategic management for non-profit? Please give examples and please indicate the sources/references you have used and where you got your answers to prove that it was not made just to comply.arrow_forwardAssuming that you own a computer shop, you have a good plan in your mind that you want to implement that can benefits your business. How can your plan/strategy convert into action? Can you explain the step-by-step process?arrow_forward
- SHORT 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_forwardBased on what is ideal such as from books, literatures, published articles, and from the principles of our module, evaluate which of the following statements are correct? Statement 1: The vision, mission and goals (VMGs) of the firm are intended for display and brand imaging while on the other hand, the planning phase reflects the current aspiration of the executives. Statement 2: When executives direct a decentralized firm, they keep the plans only for themselves and share only to those whom they like. Statement 3: Employees are generally intrinsically motivated therefore there is no need to establish programs for appreciations, rewards and merits. Statement 4: Controlling is ensuring that unlikeable employees will not partake in the activities and functions of the firm. Statement 5: Decision-making are only for executives and other stakeholders may not necessarily participate or to be considered in a decentralized firm. a. All b. 1, 2 and 3 c. 2, 3 and 4 d. 3, 4 and 5 e. 1, 3 and 5…arrow_forwardDirections: Answer the following: 1. Explain the meaning of a business plan. 2. Discuss the goals of a business plan. 3. Describe the reasons for developing a business plan. 4. Explain the essential elements of a business plan.arrow_forward
- On the internet, you may find two examples of company mission statements.arrow_forwardI would like to understand the marketing plan and its parts better. Sometimes the mission statement and the executive summary seem too similar. What is the contingency plan?arrow_forwardHow is the business-level strategy going to help you with your plan to roll out the strategic management plan?arrow_forward
- Most planning involves strategies for growth. But is growth always the right direction to pursue? Can you think of some organizations that should have contraction rather than expansion as their objective? Do you know of any organizations that have actually planned to get smaller rather than larger to increase their success?arrow_forwardStrategic intent consists of an organization's values, mission, and vision; it informs an organization's decisions. Describe an example of how you have witnessed values that drive culture and an experience where it was clear that an organization either is or is not operating in a way that aligns with the mission (needs of key stakeholders). If you do not know the vision of your organization, look it up. Evaluate it using the guidelines provided by Walston.arrow_forwardIn writing business memo, letter, or report, would you ever emphasize pathos? Or do you think that business writing should always focus on logos and ethos? Explain your reasoning.arrow_forward
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