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WorksheetsManagement strategies
Total questions: 13
Worksheet time: 7mins
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
What are the operations manager's main areas of concern?
Production, process, quality controls
Production, process, price, place, promotion
Quality controls, production, people, price
Product, price, place, promotion, people
Which of the following strategies could improve production when transforming a business?
Introducing technologies
Outsourcing
Changing equipment and resources
Selecting promotional techniques to create the most cost-effective marketing strategy
Introducing ecologically sustainable practices
Which of the following strategies could improve production when transforming a business?
Refitting or reorganising the business
Offering redundancy packages
Implementing quality controls
Improving facilities or resources for employees
Moving the business to a more suitable location
