EXAM QUESTIONS AND ANSWERS
Aligning Organization Functions to Your Business Strategy - ANSWER-Coordinating
and allocating firm's resources so that a firm can carry out its plans and achieve its
goals.
Accomplished by determining work activities and dividing up tasks (division of labor),
grouping jobs and employees (departmentalization), and assigning authority and
responsibilities (delegation).
Involved in:
1) HR - recruiting best employees, adequate training, and motivating employees to
excel
2) Marketing - developing a marketing strategy for your selected target market that
incldes products, prices and advertising
3) Sales channel - selecting retail store locations and staffing to sever your target
markets
4) Manufacturing - managing production capacity and optimization at your production
facilities
5) Accounting - using quarterly financial statements as a budgeting tool
6_ Finance - sourcing and using financial resources to start your company, maintain
growth, and deliver return on investment.
Lesson 2: Fundamentals of Strategic Planning - ANSWER-
Quarter 1: - ANSWER-Quarter 1: Organize the firm and set up shop
Name the company.
Sell 1,500,000 in stock.
Analyze the market survey.
Establish corporate goals and overall business strategy.
Choose your primary and secondary target segments.
Design at least one brand for each target segment.
Schedule the opening of the first bike shop.
Setup a production facility.
Quarter 2 - ANSWER-Quarter 2: Go to test market
Sell 500,000 in stock to executive team.
Hire sales and service personnel.
Establish employee compensation packages.
Establish brand price and priority.
Prepare an advertising campaign.