task 1 Updated 2024/2025 with questions and
complete solutions/Grade A+
Unit 2; Organizing the Business
1. Unit 6: Business Strategy Expansion - ANSWER Module 11: Performance
Metrics
2. Unit 7: Business Optimization - ANSWER Module 12: Strategy Refinement
Module 13: Presenting Results
3. -- Unit 2 - Organizing the business - ANSWER Applies competencies,
demonstrating ability to lead the implementation of the mission, strategy and goals
of an organization.
4. Target market segment - ANSWER Target Market is a specific group of
customers in the broader target market who are most likely to buy a product or
service.
5. Integrated Company - ANSWER A firm that owns and controls all aspects of the
business, incl. supply chain and retail outlets.
6. Module 1: Strategic Planning - ANSWER 1) name the company.
2) est. corporate goals and overall business strategy.
3) Understand the functions within an organization.
7.Strategic planning - ANSWER Process of defining organizational goals and the
strategies, tactics, and resources that will enable a firm to achieve them.
8. Business Analysis - ANSWER Data-driven process to ID the internal and
external impacting a business and its decisions.
9. 1) Define overall business stragegy - ANSWER 1) Strategic Planning
2) Business Analysis
10. Lesson 1: Developing SMART Goals - ANSWER SMART:
,1) Specific
2) Measurable
3) Achievable
4) Relevant / Realistic
5) Time / Time Bound
11. Goals, Strategies, and Tactics - ANSWER Strategy - approach you take to
achieve a goal or strategic initiatives or strategic thrusts
Tactic - specific activity used to pursue a strategy that aligns to a goal.
12.Goals - Broad primary outcome that your organization hopes to achieve.
Graduate applies the competencies from across core curriculum, demonstrating the
ability to lead the implementation of the mission, strategy, and goals of an
organization. - ANSWER Module 1: Strategic Planning - Name the company.
Establish corporate goals and overall business strategy. Understand the functions
within an organization.
13.Module 2: Operating in a Global Marketplace - Analyze the market survey.
14.Module 3: Understanding the Functions Within an Organization - Choose your
primary and secondary market segments. Design at least one brand for each target
segment. Schedule the opening of the first bike shop.
15.Unit 3: Product to Market - ANSWER Module 4: Market Research
Module 5: Ethical Decision-Making
Module 6: Capacity
16. Unit 4: Market Expansion - ANSWER Module 7: Financial Analysis
Module 8: Data-Driven Decision-Making
17. Unit 5: Investing in the Future - ANSWER Module 9: Resource Allocation
Module 10: Forecasting
18. Cost Leadership - ANSWER A business-level strategy through which a
company seeks cost efficiencies in all operational areas.
, 19. Differentiation Strategy - ANSWER Distinguishing an organization's products
from the products of competitors on dimensions such as product design, quality, or
after-sales service.
20. Aligning Organization Functions to Your Business Strategy - ANSWER
Coordinating and allocating firm's resources so that a firm can carry out its plans
and achieve its goals.
21.Accomplished by determining work activities and dividing up tasks (division of
labor), grouping jobs and employees (departmentalization), and assigning authority
and responsibilities (delegation).
Involved in:
1) HR - recruiting best employees, adequate training, and motivating employees to
excel
2) Marketing - developing a marketing strategy for your selected target market that
incldes products, prices and advertising
3) Sales channel - selecting retail store locations and staffing to sever your target
markets
.4) Manufacturing - managing production capacity and optimization at your
production facilities
5) Accounting - using quarterly financial statements as a budgeting tool
6_ Finance - sourcing and using financial resources to start your company,
maintain growth, and deliver return on investment.
22. Lesson 2: Fundamentals of Strategic Planning - ANSWER
23. Quarter 1: - ANSWER Quarter 1: Organize the firm and set up shop
Name the company.
Sell 1,500,000 in stock.
Analyze the market survey.
Establish corporate goals and overall business strategy.
Choose your primary and secondary target segments.
Design at least one brand for each target segment.