Answered: Core competencies describes the…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

Core competencies describes the activities that take place in a business and relates them to an analysis of the competitive strength of the business. *

True

False

Part of the role of effective governance and oversight is to review performance *

True

False

Strategy are a series of initiatives, often illustrated in reporting by case studies. *

True

False

SWOT analysis is an important tool for auditing the overall strategic position of a business and its environment. *

True

False

Developing a sustainability strategy is an ideal opportunity to engage internal stakeholders and colleagues across the business *

True

False

A vision, mission and values provide the building blocks on which to reflect corporate culture and direction. *

True

False

Targets are the backbone of an effective sustainability strategy. *

True

False

The resource audit, value chain analysis and core competence analysis help to define the strategic capabilities of a business *

True

False

The core of Strategy Audit, for any corporate entity, lies on two important questions—how well is a strategy working and how can this be evaluated? *

True

False

SWOT is an abbreviation for Strengths, Weaknesses, Opportunities and Time. *

True

False

Every business needs to prioritize. *

True

False

Bad strategy involves deciding which issues to really focus on, and uniting the elements into a framework for setting targets. *

True

False

Sustainable business and commercial success need to support one and other. *

True

False

If your business goals don’t match up with the resources you currently have available, then you must either change your goals or adjust the resources available. *

True

False

Strategic Audit evaluates your current strategy by performing a Financial analysis test which reassesses the business strength and weakness and threats. *

True

False

Value Chain Analysis describes the activities that take place in a business and relates them to an analysis of the competitive strength of the business. *

True

False

It is not important to perform regular strategic audits and measure implementation in order to keep on top of shifts in the environment and ensure you are always on the right path *

True

False

Stakeholders are defined as those individuals and organisations that the company may have an impact on, or that could have an impact on the company *

True

False

A sustainability audit is done to evaluate the functional unit of the business and grades it according to its business alignment goals. *

True

False

Targets should remain relatively consistent over time, so internal and external stakeholders can assess how performance is changing year-on-year. *

True

False

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