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NEW QUESTION 65
Communication is a critical element of the Organizational change process. Communicating the change vision is a component of Kotter's eight steps to transforming Organizations.
Which of the following statements support Kotter's component 'Communicate the change vision'?
Select ALL that apply.
- A. Face-to-face communications improve clarity of message.
- B. Storytelling and symbolic actions are unnecessary.
- C. One-way communication is more powerful than two-way communication.
- D. Unaddressed inconsistencies undermine the credibility of strategic communications.
- E. Ensure the change message and vision are memorable and repeatable.
Answer: A,D,E
NEW QUESTION 66
Ansoff has provided a product/market growth matrix which denotes possible strategic directions that an organisation can follow.
Which of the following statements correctly describe the strategic options generated by the matrix?
Select ALL that apply
- A. Diversification using new products in new markets
- B. Market penetration using existing products within existing markets
- C. Market development using existing products in new markets.
- D. Market penetration using existing products in new markets
- E. Market penetration using new products within existing markets
- F. Product development using new products in new markets.
Answer: B,F
NEW QUESTION 67
RST is a national airline that differentiates itself by the quality of service it provides to its passengers. Place the appropriate Value Chain activity next to each aspect of RST's service.
Answer:
Explanation:
NEW QUESTION 68
A leading retail chain is undertaking environmental scanning as it is concerned that it is becoming uncompetitive and profits have started to fall. The Board of Directors is concerned that it will need to have a viable strategy to present to its shareholders at the next annual general meeting, in order to prevent shareholders' protests.
The company has been reluctant in the past to offer an Internet shopping service. It now believes, however, that by offering this service and introducing customer relationship marketing (CRM), this will produce a strategy that will help it to improve its competitiveness.
Which of the following statements apply to CRM? (Choose all that apply.)
- A. CRM is about marketing to customers to obtain their loyalty, so customer research is not needed.
- B. CRM utilizes marketing resources to retain, rather than simply attract new customers.
- C. In mature markets, existing customers provide the most likely source of future earnings.
- D. The CRM process needs to include increasing the range of products that will be offered to customers.
- E. The company must be prepared to take customers' needs into account and be able to meet these needs.
Answer: B,E
NEW QUESTION 69
Organizations have a variety of stakeholders, each with differing interests and requirements. This can lead to stakeholder conflict. This can be further complicated when individuals are members of more than one stakeholder group and when members of one group do not share the same principal interest.
Company FF has decided that it needs to undertake a stakeholder analysis in order to manage its stakeholders more effectively.
Which of the following statements are valid when undertaking stakeholder analysis?
Select ALL that apply.
- A. Establishes stakeholder interests and claims on the Organization.
- B. Considers how to prevent stakeholder trouble before it starts.
- C. The analysis enables priorities to be set to minimize power clashes.
- D. Determines the degree of power that each group holds.
- E. The analysis only focuses on quantitative matters.
Answer: A,C,D
NEW QUESTION 70
Company RR operates in the finance sector. It is experiencing increasing delays in approving loan applications, due to customers not promptly returning their signed copy of the application forms back to RR.
RR is now wanting to introduce e-signatures which allow customers to sign the document on their computer and return it back to RR through the Internet. This change will help to simplify the process and ensure that customers obtain their loans quicker.
To achieve this change, RR has established a project and has appointed you as the Project Leader to lead the change.
Select the THREE valid statements in respect of leading change.
- A. Managing change is a process of facilitating internal and external conflict resolution.
- B. Transactional leaders focus on systems and controls and tend to seek improvement rather than change.
- C. An Affiliative leadership style is one where the change leader consistently asks the team for more.
- D. A Change Agent is an individual or group that helps to bring strategic change to an Organization.
- E. A change leader using the Change Approach will focus on procedures, control measures and monitoring performance.
Answer: A,B,D
NEW QUESTION 71
Which TWO of the following are advantages to an organisation of using non-financial performance measures rather than financial performance measures?
- A. They are easier to measure than financial performance measures.
- B. They are less expensive to measure than financial performance measures.
- C. They are not distorted by inflation.
- D. They are less subjective than financial performance measures.
- E. They present a wider view of organisational performance than financial performance measures
Answer: D,E
NEW QUESTION 72
Which of the following is NOT included in the Information Systems Strategy (ISS) of Earl's three levels of information strategy?
- A. Management-focused
- B. Business-focused
- C. Demand-orientation
- D. Division / SBU / Function based
Answer: A
NEW QUESTION 73
Collaborative leadership is particularly useful in situations where "no one is in charge", where the issues or problems are so complex that no one person or entity has either the information or the power to change.
Which of the following would facilitate the role of a collaborative leader effectively?
Place 'Yes' or 'No' next to each Role.
Answer:
Explanation:
NEW QUESTION 74
The future can be viewed as consisting of a large number of alternatives. Forecasting techniques have been designed to assist decision-making and planning.
Which TWO of the following statements are correct regarding the use of trend analysis as a forecasting tool?
- A. Suitable for mature and stable products / services / companies.
- B. Suitable for young and dynamic products / services / companies.
- C. Useful where the external environment is always changing.
- D. Useful where the external environment is always stable.
- E. Useful where comparatives are not available.
Answer: A,D
NEW QUESTION 75
JJJ is a frozen food delivery business in Country Q.
Competition is high and JJJ prices its delivery services very competitively. JJJ has doubled its market share to 35% in the last five years.
In order to continue to improve its competitive position in Country Q, JJJ has invested in 100 new delivery vans. These vans have been designed to increase the speed and efficiency in loading and unloading the frozen food products. JJJ has to meet tight delivery deadlines to its customers or penalties for late delivery are charged to JJJ by its customers. Drivers of the vans undertake regular training.
Which of the following would be the most appropriate critical success factor within the 'Customer' perspective of a Balanced Scorecard for JJJ?
- A. Levels of staff training
- B. Punctuality
- C. Price competitiveness
- D. Penalties for late deliveries
Answer: B
NEW QUESTION 76
CCC is a charity which has an excellent reputation within its home country. CCC employs over 300 highly experienced staff and also has 200 skilled volunteers. Its funding mainly comes from donations from the public but its public profile is low compared to larger, more publicised charities.
Due to the recent recession, public donations to CCC have fallen in the last five years, but demand for its services continues to grow.
The government of the country in which CCC operates is encouraging greater collaboration between charities and there have been several recent successful mergers within the charity sector. CCC has recently been approached by a high profile and well funded charity, PPP, with a proposal to merge. PPP offers complementary services to those offered by CCC.
Which TWO of the following factors would most likely be considered as an 'opportunity' for CCC?
- A. Growing demand for its services
- B. Merging with PPP.
- C. Donations from the public
- D. Highly experienced staff
- E. The excellent reputation of CCC
Answer: A,B
NEW QUESTION 77
Company XX and Company YY are the only two providers of electricity to Country M.
The demand for electricity is price inelastic which means that buyers regard it as essential and therefore demand for electricity does not change significantly if the average price of electricty changes. However customers will switch between suppliers within a year to get cheaper electricity. Using Game Theory place the long-run revenue impact on each firm of each of the following pricing decisions.
Answer:
Explanation:
NEW QUESTION 78
MMM operates leisure parks in Country S. a mature economy in Europe. These are parks that are popular with people between the ages of 8 and 25 years who visit them to ride on the high speed roller-coasters and to visit other attractions at the parks. Nearly 60% of visitor expenditure is to buy meals and drinks at the park MMM estimates that 20% of its visitors travel to its parks from outside Country S.
Which THREE of the following environmental changes will have the greatest impact on MMM in the next five years?
- A. Introduction of government restrictions on the number of students and tounsts permitted to enter Country S.
- B. The growing strength of the emerging economies in Africa, Asia and South America.
- C. The opening of a rival leisure park in Country S with more modern rides and attractions.
- D. The average age of the population in Country S is increasing because of a fall in the birth rate.
- E. An increase in the statutory minimum wage in Country S.
Answer: A,B,D
NEW QUESTION 79
Your manager is undertaking a strategic review of XYZ's activities and has asked you to explain how a Force Field analysis would assist in the review process.
Which of the following statements would be most appropriate?
- A. Identify forces facing XYZ's activities that may create barriers and resistance to change.
- B. Provide a framework for identifying forces for and against the proposed changes within XYZ.
- C. As part of XYZ's strategic review, identify forces facilitating the need for proposed change.
- D. Identify influential senior managers who will drive through changes in XYZ's strategic direction.
Answer: B
NEW QUESTION 80
PPP wishes to increase shareholder value using the Seven Value Drivers identified in Shareholder Value Analysis (SVA). Place the correct direction of change next to each driver.
Answer:
Explanation:
NEW QUESTION 81
Which of the following is NOT a key attribute of a successful stretch target?
- A. Staff must understand the reason for the stretch target set.
- B. Set at a level which motivates staff to perform at their highest level.
- C. Encourages ethically responsible behaviour to achieve the stretch target.
- D. Set at a level which is easily achievable.
Answer: B
NEW QUESTION 82
MNO has decided to widen the scope of its performance measurement by constructing and using a Balanced Scorecard. MNO has established a range of Key Performance Indicators (KPI's) for use within its Balanced Scorecard.
Place each of the Balanced Scorecard perspectives against the most relevant KPI.
Answer:
Explanation:
NEW QUESTION 83
CIMA has described the two roles of enterprise governance as 'preventing failure' and 'ensuring success'.
CIMA sees 'preventing failure' as being related to having proper risk management and corporate governance procedures in place. CIMA sees 'ensuring success' as being concerned with the practise of strategic management.
Which THREE of the following responsibilities of senior management are essential to 'ensuring success' for the Organization?
- A. Avoiding the dominance of the executive team by particular personalities.
- B. Ensuring conformance with the codes of corporate governance.
- C. Providing leadership and direction to the Organization.
- D. Maintaining awareness and responsiveness to abrupt change in the Organization's environment.
- E. Demonstrating competence in the execution of new initiatives.
Answer: C,D,E
NEW QUESTION 84
Kaplan and Norton developed a model called the Balanced Scorecard to assist in the formation and achievement of strategic policy. Within this model are four perspectives. Which of the following statements is NOT applicable to a Balanced Scorecard perspective?
- A. To achieve our vision, how should we appear to our stakeholders?
- B. To succeed financially, how should we appear to our shareholders?
- C. To achieve our vision, how should we appear to our customers?
- D. To achieve our vision, how will we sustain our ability to change and improve?
Answer: A
NEW QUESTION 85
FFF is considering developing a new website that will allow it to advertise and sell its high quality jewellery products online. The Board of FFF has identified that the cost of developing and managing a website would be relatively low. It is predicted that FFF will sell only a small percentage of its products through the website, as most customers like the personal experience of shopping in store.
However, research undertaken by the Marketing Director indicates that the website could be used very successfully by FFF for online marketing and customer communication. Therefore, the Marketing Director has suggested that FFF should develop an IT/ IS strategy to ensure a strategic focus for its website development. However, most of FFF's Board members, who are the main shareholders of the business, believe that developing an IT/IS strategy is unnecessary in order to develop and manage its website.
Which of the following arguments could be made by the Marketing Director to the Board of FFF to persuade it that an IT/ IS strategy would be appropriate in relation to the current website development?
- A. IT/ IS forms the basis of FFF's competitive advantage and therefore requires a strategic focus.
- B. IT/ IS is very expensive and without a strategic focus there is a risk of costly mistakes.
- C. IT/ IS is expected by FFF's key stakeholders and should therefore have a strategic focus.
- D. IT/ IS is fast moving and FFF can take advantage of new technologies as they become available, if managed strategically.
Answer: D
NEW QUESTION 86
NNN is a logistics firm that contracts with online retailers (clients) to deliver parcels containing customers' purchases, to customers' home addresses. NNN holds inventory of the most frequently ordered products at its warehouses.
According to industry research, most clients require the contractors to deliver the customers their purchases soon after they place their order. They are not concerned with the environmental impact of the logistics process. They require very competitive delivery prices from their contractors.
Customer research reveals that households dislike being asked to stay at home for an entire day because logistics firms are unwilling to commit themselves to a precise delivery time. This problem has led to a small number of cases of customers arriving at the warehouses of logistics firms demanding to take their purchases away with them. Most households do not consider the environmental policies or performance of the firms they buy from.
The logistics industry is very competitive and NNN wants to protect its existing contracts and to win more. It needs to focus its resources on the 'things that must go right' in order for it to succeed.
Which THREE of the following are Critical Success Factors (CSFs) for NNN?
- A. Warehouses in areas of lowest feasible operating cost.
- B. A comprehensive policy on emissions and Corporate Social Responsibility (CSR).
- C. Business processes that deliver to households at the promised time + or - 15 minutes.
- D. A car park and waiting room for customers at each warehouse.
- E. A shorter average time between receipt of an instruction from its client and delivery to the customer.
Answer: A,D,E
NEW QUESTION 87
GV is a manufacturer and retailer of high quality suede gloves. GV makes all of its sales in country F, and is extremely profitable. After many successful years trading, GV has accumulated significant cash reserves and would like to grow the business organically.
After some investigation work, GV has discovered an opportunity to sell leather shoes in country P.
Which of the following strategic directions is GV taking if it pursues this opportunity, according to Ansoff's product / market matrix?
- A. Market penetration
- B. Related diversification
- C. Product development
- D. Market development
Answer: B
NEW QUESTION 88
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