T leve (Man &Admin) - Tools to measure and implement objectives

Multiple Choice

What are the resources and tools used to measure and implement objectives and strategies in a business context?

• Financial reports

• Market analysis tools

• Employee feedback systems

• All of the above

Open Ended

What are the different resources and tools that can be used to measure progress in achieving objectives?

Multiple Choice

What is the prime document for measuring success in business activities?

• Business report

• Business plan

• Risk assessment

• Financial statement

Multiple Choice

What are the key characteristics of a business plan?

• Simple, clear and concise

• Realistic and truthful

• Supported by data and figures

• Used for personal decisions

Multiple Choice

What are the key components that a business plan should contain?

• Executive summary

• Market analysis

• Production plan

• Location of the business

Multiple Choice

What is the purpose of a business plan?

• To drive the business to achieve its objectives

• To create financial plans only

• To set marketing plans only

• To inform human resources only

Multiple Choice

What is the purpose of KPIs?

• To set organisational targets

• To gauge progress

• To inform decision making

• All of the above

Multiple Choice

What are Key Performance Indicators (KPIs)?

• Quantifiable measures of performance

• Qualitative measures of performance

• Random metrics

• Unrelated statistics

Multiple Choice

What are Key Performance Indicators (KPIs) and why are they important in organizations?

• KPIs are measurable values that demonstrate how effectively an organization is achieving its key business objectives.

• KPIs are outdated metrics that are no longer relevant in modern organizations.

• KPIs are subjective opinions that vary from person to person.

• KPIs are random values that have no impact on organizational success.

Multiple Choice

What are the common types of Key Performance Indicators (KPIs)?

• productivity

• customer satisfaction

• customer retention rate

• return on investment (ROI)

Multiple Choice

What are the four main types of management KPIs?

• strategic

• functional

• operational

• leading versus lagging

Multiple Choice

Why are Key Performance Indicators (KPIs) important for an organization?

• To ensure departments stay aligned

• To increase employee turnover

• To reduce operational costs

• To eliminate all risks

Multiple Choice

The process of creating goals and objectives as well as strategies to meet them is

• organizing

• planning

• leading

• controlling

Multiple Choice

What are the strategy activities for successful implementation?

• Communicate vision, values and objectives

• Set accountability measures

• Focus on the purpose

• Track and share progress

Multiple Choice

What are the key factors for implementing and embedding strategies in an organization?

• Human resources

• Organisational culture

• Management processes

• Operational systems resources

Multiple Choice

What factors are key to success in implementing and embedding strategies?

• Education and training

• Ongoing support

• Quality of products/services

• Use of technology/automation

Multiple Choice

What are the key steps in the implementation process of turning plans into actions?

• Set corporate and functional objectives

• Measure performance against KPIs

• Review implementation process on completion

• Take corrective action when necessary

Multiple Choice

What are the corporate objectives mentioned in the marketing functional objectives?

• To increase profits by 10% in next 3 years

• To increase profits by 12% in next 3 years

• To capture 20% of market share in next 3 years

• To create content marketing plans for 4 ideal client personas

Multiple Choice

How feasible is the objective to increase market share by 20% in the next three years?

• Very feasible

• Somewhat feasible

• Not feasible

• Unknown

Multiple Choice

In the context of the 7Ps, what does 'Physical Evidence' refer to?

• The tangible aspects of a service that help customers evaluate it

• The physical location of a business

• The physical appearance of the product

• The physical strength of the marketing team

Multiple Choice

What level of sales would be needed for each ICA to achieve the objectives?

• Increase profits by 12%

• Increase market share by 20%

• Both objectives

• None of the above

Multiple Choice

What level of sales would we need to make to each ICA to achieve the objectives?

• £50,000

• £200,000

• £1,000,000

• £24,000