SBS MBA - Business Policy and Strategy

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Business Policy and Strategy

SBS MBA

STUDENT ID

UNIT TITLE

UNIT CODE

Name (in Full) __________________________________________________________

Total Marks: _______ / 50

Answer any 5 of the following questions: Each question carries 10 marks.

Question.1.In your opinion, what is the single major benefit of using a strategic-management approach to decision making? Justify your answer.                                       

Answer:You’ll be more proactive and less reactive in your approach to decision-making if you have strategic plans in place, rather than simple goals and objectives. While some decisions might seem easy based on their effect on your short-term bottom line, these decisions can stall your ability to make long-term improvements that help build your brand and increase the value of your company.

Strategic Management: Strategic management is a process of setting long-term goals and objectives based on where you want to see your company in the future. For example, you might set strategic goals of becoming a national business, diversifying into new markets, franchising your company, maintaining financial benchmarks for debt and cash

Question.2.Explain why a mission statement should not include monetary amounts, numbers,Percentages, ratios, goals, or objectives.                                                         

Answer:

Question.3.Identify a recent economic, social, political, or technological trend that significantly affects the organization of your choice.                                                                                                                                                                        

Answer:

Question.4.Give two examples of staffing strengths and two examples of staffing weaknesses of anorganization with which you are familiar.                                                     

Answer:This is a thought-provoking question. Answers will vary for each student. Staffing activities include hiring, training, testing, wage and salary administration, employee benefits, union/management relations, and employee development.

Owning a temporary staffing agency requires

Question.5.Give recent examples of market penetration, market development, and product development and explain their strategies in detail.                                        

Answer:

Question.6.In a BCG Matrix, would the Question Mark quadrant or the Cash Cow quadrant be more desirable? Explain. List four limitations of a BCG Matrix.                           

Answer:The matrix was invented by Boston Consulting Group (BCG) in the 1970s to help organizations with their portfolio strategy. This framework applies two inputs, market growth and market share to a portfolio of segments, products or businesses, and then draws conclusions about how resources (e.g. talent, investment) should be allocated

Question.7.If you owned and opened three restaurants after you graduated, would you operate froma functional or divisional structure? Why?                                                    

Answer:Most small businesses begin with a simple line structure in which every position in the business works towards the organization's main objective. A small family restaurant, for example, begins with everyone working directly in either cooking or serving. As the business grows however, the restaurant, like all other small businesses, begins to add staff positions in areas like marketing and finance that support the line structure. This is called a line-and-staff structure. For small businesses to keep growing, more complex structures

Question.8.If you owned a small business, would you develop a code of business conduct? If yes, what variables would you include? If no, how would you ensure that ethical business standards were being followed by your employees?                           

Answer:The Code of Conduct is the heart and soul of a company. Think of a Code of Conduct as an in-depth view of what an organization believes and how the employees of an organization see themselves and their relationship with each other and the rest of the world. The Code of Conduct paints a picture of how employees, customers,

Dear students get fully solved assignments

Send your semester & Specialization name to our mail id :

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or

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