©EMILLECT 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED
FIRST PUBLISH OCTOBER 2024
IMS 3310 FINAL EXAM STUDY GUIDE
SOLUTIONS
bottom-up planning - ANSWER✔✔-planning process that begins at the lowest level in the organization
and continues upward
budget - ANSWER✔✔-an itemized projection of revenues and expenses for a future time period
competitive advantage - ANSWER✔✔-the ability of a company to achieve and maintain a unique and
valuable competitive position both within a nation and globally, generating higher rates of profit than its
competitors
competitive strategies - ANSWER✔✔-action plans to enable organizations to reach their objectives
contingency plans - ANSWER✔✔-plans for the best or worst case scenarios or for citical events that
could have a severe impact on the firm
explicit knowledge - ANSWER✔✔-knowledge that is easy to communicate to others via words, pictures,
formulas, or other means
international strategy - ANSWER✔✔-a plan that guides the way firms make choices about developing
and deploying scarce resources to achieve their international objectives
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, ©EMILLECT 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED
FIRST PUBLISH OCTOBER 2024
iterative planning - ANSWER✔✔-repetition of the bottom-up or top-down planning process until all
differences have been reconciled
knowledge management - ANSWER✔✔-the practices that organizations and their managers use for
identifying, creating, acquiring, developing, dispersing, and exploiting competitively valuable knowledge
mission statement - ANSWER✔✔-a broad statement that defines the organization's purpose and scope
policies - ANSWER✔✔-broad guidelines issued by upper management to assist lower-level managers in
handling recurring issues or problems
procedures - ANSWER✔✔-guides that specify ways of carrying out a particular task or activity
sales forecast - ANSWER✔✔-a prediction of future sales performance
scenarios - ANSWER✔✔-multiple, plausible stories about the future
strategic planning - ANSWER✔✔-the process by which an organization determines where it is going in
the future, how it will get there, and how it will assess whether and to what extent it has achieved its
goals
tacit knowledge - ANSWER✔✔-knowledge that an individual has but that is difficult to express clearly in
words, pictures, or formulas and is therefore difficult to transmit to others
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, ©EMILLECT 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED
FIRST PUBLISH OCTOBER 2024
top-down planning - ANSWER✔✔-planning process that begins at the highest level in the organization
and continues downward
value chain - ANSWER✔✔-a set of interlinked activities that adds value to the final product or service
value chain analysis - ANSWER✔✔-an assessment conducted on the chain of interlinked activities of an
organization or set of interconnected organizations, intended to determine where and to what extent
value is added to the final product or service
values statement - ANSWER✔✔-a clear, concise description of the fundamental values, beliefs, and
priorities expected of the organization's members, reflecting how they are to behave with each other
and with the company's customers, suppliers, and other members of the global community
vision statement - ANSWER✔✔-a description of the company's desired future position if it can acquire
the necessary competencies and successfully implement its strategy
affiliates - ANSWER✔✔-companies controlled by other companies, but less-than majority owners may
exercise control by a variety of means, both those involving stock ownership and those involving non-
ownership mechanisms
horizontal corporation - ANSWER✔✔-a form of organization characterized by lateral decision processes,
horizontal networks, and a strong corporate-wide business philosophy
hybrid organization - ANSWER✔✔-a structure organized by more than one dimension at the top level
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FIRST PUBLISH OCTOBER 2024
IMS 3310 FINAL EXAM STUDY GUIDE
SOLUTIONS
bottom-up planning - ANSWER✔✔-planning process that begins at the lowest level in the organization
and continues upward
budget - ANSWER✔✔-an itemized projection of revenues and expenses for a future time period
competitive advantage - ANSWER✔✔-the ability of a company to achieve and maintain a unique and
valuable competitive position both within a nation and globally, generating higher rates of profit than its
competitors
competitive strategies - ANSWER✔✔-action plans to enable organizations to reach their objectives
contingency plans - ANSWER✔✔-plans for the best or worst case scenarios or for citical events that
could have a severe impact on the firm
explicit knowledge - ANSWER✔✔-knowledge that is easy to communicate to others via words, pictures,
formulas, or other means
international strategy - ANSWER✔✔-a plan that guides the way firms make choices about developing
and deploying scarce resources to achieve their international objectives
Page 1/17
, ©EMILLECT 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED
FIRST PUBLISH OCTOBER 2024
iterative planning - ANSWER✔✔-repetition of the bottom-up or top-down planning process until all
differences have been reconciled
knowledge management - ANSWER✔✔-the practices that organizations and their managers use for
identifying, creating, acquiring, developing, dispersing, and exploiting competitively valuable knowledge
mission statement - ANSWER✔✔-a broad statement that defines the organization's purpose and scope
policies - ANSWER✔✔-broad guidelines issued by upper management to assist lower-level managers in
handling recurring issues or problems
procedures - ANSWER✔✔-guides that specify ways of carrying out a particular task or activity
sales forecast - ANSWER✔✔-a prediction of future sales performance
scenarios - ANSWER✔✔-multiple, plausible stories about the future
strategic planning - ANSWER✔✔-the process by which an organization determines where it is going in
the future, how it will get there, and how it will assess whether and to what extent it has achieved its
goals
tacit knowledge - ANSWER✔✔-knowledge that an individual has but that is difficult to express clearly in
words, pictures, or formulas and is therefore difficult to transmit to others
Page 2/17
, ©EMILLECT 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED
FIRST PUBLISH OCTOBER 2024
top-down planning - ANSWER✔✔-planning process that begins at the highest level in the organization
and continues downward
value chain - ANSWER✔✔-a set of interlinked activities that adds value to the final product or service
value chain analysis - ANSWER✔✔-an assessment conducted on the chain of interlinked activities of an
organization or set of interconnected organizations, intended to determine where and to what extent
value is added to the final product or service
values statement - ANSWER✔✔-a clear, concise description of the fundamental values, beliefs, and
priorities expected of the organization's members, reflecting how they are to behave with each other
and with the company's customers, suppliers, and other members of the global community
vision statement - ANSWER✔✔-a description of the company's desired future position if it can acquire
the necessary competencies and successfully implement its strategy
affiliates - ANSWER✔✔-companies controlled by other companies, but less-than majority owners may
exercise control by a variety of means, both those involving stock ownership and those involving non-
ownership mechanisms
horizontal corporation - ANSWER✔✔-a form of organization characterized by lateral decision processes,
horizontal networks, and a strong corporate-wide business philosophy
hybrid organization - ANSWER✔✔-a structure organized by more than one dimension at the top level
Page 3/17
