MNG3702 EXAM PACK

MEDSTUDY.COM




MNG3702
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EXAM PACK
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Question 1

1.1 Elements of the Balanced Scorecard (BSC)

 Financial Perspective (1 mark)
 Customer Perspective (1 mark)
 Internal Business Processes Perspective (1 mark)
 Learning and Growth Perspective (1 mark)

1.2 Strategic Objectives for Each Element of the BSC
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 Financial Perspective:
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Strategic Objective: Increase profitability by expanding into new eco-friendly
textile markets and reducing production costs by adopting sustainable
technologies.
Alignment: This objective is aligned with Green Threads' goal to improve financial
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performance and achieve carbon neutrality by 2030.
 Customer Perspective:
Strategic Objective: Achieve a 96% customer satisfaction rate by 2030 through
innovative, high-quality, and eco-friendly products.
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Alignment: This supports the company's vision of delivering sustainable products
and enhancing customer satisfaction.
D

 Internal Business Processes Perspective:
Strategic Objective: Improve operational efficiency by adopting advanced
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production processes and reducing waste to achieve zero waste by 2030.
Alignment: This is in line with Green Threads' commitment to sustainability and
leadership in eco-friendly practices.
 Learning and Growth Perspective:
Strategic Objective: Foster innovation and employee development through
continuous research and development, focusing on sustainable product creation.
Alignment: This aligns with the company's goal of introducing at least one new

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sustainable product annually and optimizing Fourth Industrial Revolution
technologies.




Question 2

2.1 Definition of Absorptive Capacity

Absorptive capacity refers to an organization's ability to recognize the value of new
external information, assimilate it, and apply it to commercial ends. It is crucial for
innovation and continuous improvement. (3 marks)
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2.2 Four Dimensions of Absorptive Capacity and Application to Green Threads
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 Acquisition (1 mark): This refers to a company's ability to identify and acquire
external knowledge.
Application: Green Threads excels at acquiring knowledge, as seen in their
adoption of new sustainable technologies and partnerships with local suppliers,
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such as those for Bananatex.
 Assimilation (1 mark): The process of understanding and interpreting the newly
acquired knowledge.
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Application: The company assimilates external knowledge by integrating
sustainability into all its processes, including sourcing raw materials like organic
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cotton and bamboo.
 Transformation (1 mark): The company’s ability to refine and improve the
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acquired knowledge to adapt it to the organization’s needs.
Application: Green Threads transforms acquired knowledge by utilizing advanced
machinery to produce eco-friendly fabrics like Bananatex and incorporating
innovative processes to improve production.
 Exploitation (1 mark): The company's ability to use the newly acquired
knowledge to create commercial value.
Application: Green Threads effectively exploits new knowledge by converting

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sustainable raw materials into profitable products, thereby increasing its market
share and contributing to local communities.

2.3 Judgment on Green Threads' Absorptive Capacity

Green Threads demonstrates a strong absorptive capacity, as they successfully
acquire, assimilate, transform, and exploit new knowledge to create innovative
sustainable products. Their investment in research and development and partnerships
for sustainable production exemplify this. (2 marks)
M

Question 3

3.1 Definition of Organizational Culture
ED

Organizational culture refers to the shared values, beliefs, and practices that influence
how employees behave and make decisions within an organization. It shapes the work
environment and impacts business outcomes. (2 marks)
ST

3.2 Cornerstones of a Solid Business Culture and Application to Green Threads

 Innovation (1 mark): Encouraging creativity and experimentation.
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Application: Green Threads fosters innovation through its research and
development efforts, encouraging managers to experiment with new products like
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Bananatex.
 Collaboration (1 mark): Promoting teamwork across different departments.
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Application: Green Threads promotes collaboration through its “green team”
initiatives, ensuring different departments work together on sustainable projects.
 Sustainability (1 mark): Commitment to environmental and social responsibility.
Application: Green Threads integrates sustainability into every aspect of its
operations, from sourcing raw materials to reducing waste and carbon emissions.
 Ethical Decision Making (1 mark): Making decisions that are fair and
responsible.