Management strategies

Transformational change can include restructuring of the key functional areas of a business. What are the four key business functions?

• Operations, finance, human resources, management

• Finance, human resources, marketing, operations

• Human resources, marketing, operations, force field

• Marketing, operations, finance, offshoring

What is the aim of financial management strategies?

• To improve the finances within an organisation

• To improve employee relations when transforming a business

• To increase market share

• To ensure efficiency of operations

Typically, in finance, which two areas do strategies relate to?

• Profitability and growth

• Production and process

• Quality controls and production

• Product and price

Which of the following strategies could improve the overall financial position and cash flow when transforming a business?

• Selling assets

• Improving cash flow

• Increasing prices

• Reducing expenses

What is the aim of human resource management strategies?

• To improve the finances within an organisation

• To improve employee relations when transforming a business

• To increase market share

• To ensure efficiency of operations

Which of the following strategies could improve employee relations when transforming a business?

• Implementing performance management programs such as performance appraisals and KPIs

• Initiating reward systems to reinforce the new behaviours and outcomes with both tangible and intangible rewards

• Selecting techniques for cost-effective marketing

• Developing training or retraining programs for existing employees

• Introducing ecologically sustainable practices

Which of the following strategies could improve employee relations when transforming a business?

• Selling assets

• Rebuilding and promoting corporate culture

• Promoting a clear vision for the change and its benefits to employees

• Developing training or retraining programs for existing employees

• Considering the unique selling point

What is the aim of marketing management strategies?

• To improve the finances within an organisation

• To improve employee relations when transforming a business

• To increase market share

• To ensure efficiency of operations

Which of the following strategies could improve the competitive advantage of the business?

• Considering the unique selling point

• Pricing effectiveness to avoid financial consequences

• Positioning the business to reach customers, suppliers and distribution channels

• Selecting promotional techniques to create the most cost-effective marketing strategy

• Employing a team that meets the marketing objectives of the business

What is the aim of operational management strategies?

• To improve the finances within an organisation

• To improve employee relations when transforming a business

• To increase market share

• To ensure efficiency of operations