Business Functions Quiz 1-4

What business function focuses on managing the flow of information within a company?

• Operations

• Information Management

• Marketing

• Strategy

What does strategy help a company do?

• Strategy helps a company say "no" to what it shouldn't be doing.

• Strategy only focuses on what a company should be doing.

• Strategy ignores market trends.

• Strategy is only about expansion.

What is IKEA's vision if they are successful?

• To become the largest retailer

• To create a better everyday life for many people

• To expand into new markets

• To innovate in technology

What is a key aspect of Nike's mission?

• Reducing costs

• Creating sustainable sports innovations

• Expanding into new markets

• Increasing advertising

What does the mission of Habitat for Humanity involve?

• Providing financial support

• Bringing people together to build homes

• Educating about home ownership

• Offering free construction services

What is the aspirational aspect of Habitat for Humanity’s vision?

• It aims to eliminate poverty

• It describes a world where everyone has a home

• It focuses on community development

• It promotes environmental sustainability

What do strategy and HR work together to determine?

• The company's marketing plan

• The company's organizational chart

• The company's product line

• The company's financial goals

What is the result of a vision without a strategy?

• Success

• Illusion

• Clarity

• Growth

What is the usual timeframe for an objective?

• 6 months

• 1 year

• 2 years

• 5 years

How is strategy tied to Finance/Accounting?

• By influencing strategic decisions like capital structure and debt

• By increasing the number of accountants

• By reducing the number of financial reports

• By improving the office layout