Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Our Mission
"IIE MSA provides innovative and exceptional learning experiences to students in a way that ensures intellectual engagement and critical thinking. Our students are empowered to maximise their potential and equipped to meet real needs to advance the development of society".
Q1. Typically, a mission statement answers specific questions about a business. Evaluate at least five questions that the IIEMSA mission statement answers.
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- Op1. Which Capability Area contains practices that would be a useful start for an organization that is struggling with understanding the status of their work? Planning and Managing Work (PMW) Selecting and Managing Suppliers (SMS) Managing Business Resilience (MBR) Supporting Implementation (SI)arrow_forwardWhich of the following best defines Strategy? A)Values B)Product mix C)Guiding Principle that estabishes the direction of the firm D)Customer Value Propositionarrow_forwardA company that pursues and achieves strategic objectives: Answer C) is frequently in a better position to improve its future financial performance because of the increased competitiveness that flows from the achievement of strategic objectives. D) is likely to be a weak financial performer because diverting resources to the pursuit of strategic objectives takes away from the achievement of financial performance targets. B) is generally not strongly focused on its true mission of making a profit. A) is likely to weaken the achievement of its short-term and long-term financial objectives.arrow_forward
- 1. When a company's OM strategy is having critical issues such as product design and development, their product's life is at which stage? a. Maturity b. Introduction c. Decline d. Growth 2. Which of the following is a principle of total quality management (TQM)? a. quality problems are solved using trial and error b. quality is defined by the company c. quality is an only an operational issue requiring an operating plan d. quality is a strategic issue requiring a strategic planarrow_forward5. Marketing activities create millions of jobs. True O Falsearrow_forwardJohn Ozment, director of special projects and analysis for Ozment’s Corporation, is responsible for preparing corporate financial analyses and monthly statements and reviewing and presenting the economic impacts of proposed strategies to upper management. Data for such financial analyses are obtained from operations and financial databases through direct queries of Ozment’s department staff. Reports and charts for presentations are then prepared by hand and typed. Multiple copies are prepared and distributed to various users. The pressure on Ozment’s group has intensified as demand for more and more current information increases. A solution to this reporting problem must be found.The systems department wants to develop a proprietary software package to produce the reports automatically. The project would require the company to make a considerable programming investment. Ozment is concerned about the accuracy, completeness, and currency of data isautomatically produced reports. He has…arrow_forward
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