Commerce 4PA3 Exam Study Guide Solutions
,General Management Perspective - CORRECT ANSWERS-having the capacity to
understand and appreciate issues facing individuals placed in the specific role of a
general manager
general manager - CORRECT ANSWERS-someone who has responsibility for all
functional facets of the business
create, capture and distribute value - CORRECT ANSWERS-what is the job of the
general manager?
set direction, create strategy, implement change - CORRECT ANSWERS-3
fundamental components of the GM's job?
operating performance, organizational health - CORRECT ANSWERS-2 sets of
measures for assessment of organizational performance
quadrant 1 - CORRECT ANSWERS-desired state of performance matrix
quadrant 2 - CORRECT ANSWERS-inward-looking and self-satisfied organization
where people enjoy their work but are performing inadequately in terms of
market/financial standards
quadrant 3 - CORRECT ANSWERS-business is achieving operating objectives at the
expense of organizational health
quadrant 4 - CORRECT ANSWERS-represents a problem in which immediate and
comprehensive action is necessary
colins and porras framework - CORRECT ANSWERS-based on solid research and
provides a practical approach for applying the concept. vision consists on 2 major
components. guiding philosophy includes the core purpose and values of the
organization
core purpose and core values - CORRECT ANSWERS-guiding philosophy 2 elements
values - CORRECT ANSWERS-represent the basic beliefs that govern individual and
group behaviour in an organization
core purpose - CORRECT ANSWERS-defines organization's reason for being and may
never be fully realized, in contrast to goals and objectives, which are formulated
specifically to be achievable
mission statement - CORRECT ANSWERS-mission is clear and compelling goal that
serves to unify an organization's efforts
, feasibility - CORRECT ANSWERS-question of whether you can reasonably expect to
get to your visionary destination cannot be answered in the abstract
flexibility - CORRECT ANSWERS-vision must be flexible because circumstances may
change in unanticipated ways
stretch - CORRECT ANSWERS-vision should go further than what is doable with
today's resources/capabilities
managerial strategy - CORRECT ANSWERS-Which of the following is not one of the
major levels of organization strategy?
management preferences - CORRECT ANSWERS-When developing alternatives
based on the Diamond-E drill, this element often provides the most strain on action
plans:
development - CORRECT ANSWERS-Which stage is not included in the product life
cycle?
the balanced scorecard - CORRECT ANSWERS-Kaplan and Norton developed:
strategic planning - CORRECT ANSWERS-approach to undertaking strategic analysis
on a recurring basis and deals with who develops the strategy, how it happens and
when it takes place
strategy - CORRECT ANSWERS-concrete expression of how an organization intends to
operate in service of whatever mission it has designed
strategy - CORRECT ANSWERS-definitive tool for building, communicating and
maintaining direction of the business
goals - CORRECT ANSWERS-set up targets against which progress/performance can
be assessed
product market focus - CORRECT ANSWERS-provides critical direction to people
throughout the organization so they can focus their effort on targeted markets and
products/services
value proposition - CORRECT ANSWERS-beacon for employees, illuminating
specifically what the business is trying to do for customers and clients and requirements
of their particular goal
core activities - CORRECT ANSWERS-highlight key jobs that will have to be done and
the capabilities that need most to be developed and reinforced
,General Management Perspective - CORRECT ANSWERS-having the capacity to
understand and appreciate issues facing individuals placed in the specific role of a
general manager
general manager - CORRECT ANSWERS-someone who has responsibility for all
functional facets of the business
create, capture and distribute value - CORRECT ANSWERS-what is the job of the
general manager?
set direction, create strategy, implement change - CORRECT ANSWERS-3
fundamental components of the GM's job?
operating performance, organizational health - CORRECT ANSWERS-2 sets of
measures for assessment of organizational performance
quadrant 1 - CORRECT ANSWERS-desired state of performance matrix
quadrant 2 - CORRECT ANSWERS-inward-looking and self-satisfied organization
where people enjoy their work but are performing inadequately in terms of
market/financial standards
quadrant 3 - CORRECT ANSWERS-business is achieving operating objectives at the
expense of organizational health
quadrant 4 - CORRECT ANSWERS-represents a problem in which immediate and
comprehensive action is necessary
colins and porras framework - CORRECT ANSWERS-based on solid research and
provides a practical approach for applying the concept. vision consists on 2 major
components. guiding philosophy includes the core purpose and values of the
organization
core purpose and core values - CORRECT ANSWERS-guiding philosophy 2 elements
values - CORRECT ANSWERS-represent the basic beliefs that govern individual and
group behaviour in an organization
core purpose - CORRECT ANSWERS-defines organization's reason for being and may
never be fully realized, in contrast to goals and objectives, which are formulated
specifically to be achievable
mission statement - CORRECT ANSWERS-mission is clear and compelling goal that
serves to unify an organization's efforts
, feasibility - CORRECT ANSWERS-question of whether you can reasonably expect to
get to your visionary destination cannot be answered in the abstract
flexibility - CORRECT ANSWERS-vision must be flexible because circumstances may
change in unanticipated ways
stretch - CORRECT ANSWERS-vision should go further than what is doable with
today's resources/capabilities
managerial strategy - CORRECT ANSWERS-Which of the following is not one of the
major levels of organization strategy?
management preferences - CORRECT ANSWERS-When developing alternatives
based on the Diamond-E drill, this element often provides the most strain on action
plans:
development - CORRECT ANSWERS-Which stage is not included in the product life
cycle?
the balanced scorecard - CORRECT ANSWERS-Kaplan and Norton developed:
strategic planning - CORRECT ANSWERS-approach to undertaking strategic analysis
on a recurring basis and deals with who develops the strategy, how it happens and
when it takes place
strategy - CORRECT ANSWERS-concrete expression of how an organization intends to
operate in service of whatever mission it has designed
strategy - CORRECT ANSWERS-definitive tool for building, communicating and
maintaining direction of the business
goals - CORRECT ANSWERS-set up targets against which progress/performance can
be assessed
product market focus - CORRECT ANSWERS-provides critical direction to people
throughout the organization so they can focus their effort on targeted markets and
products/services
value proposition - CORRECT ANSWERS-beacon for employees, illuminating
specifically what the business is trying to do for customers and clients and requirements
of their particular goal
core activities - CORRECT ANSWERS-highlight key jobs that will have to be done and
the capabilities that need most to be developed and reinforced
