JJJ is a publically quoted advertising agency. JJJ's competitive advantage is based on the expertise of its staff and its reputation in digital media advertising. JJJ has robust systems to protect its intellectual property. These include patents and copyrights. JJJ has also restricted access for most of its staff to its most sensitive data, such as studies of its customers' profitability.
JJJ's new Managing Director, Z, is concerned that when staff leave JJJ, the company loses whatever tacit knowledge they possess. These losses also impact on JJJ's reported profits. In order to remedy the losses of knowledge and the reduced profits Z wants to introduce a knowledge management strategy.
Which of the following steps support the introduction of a knowledge management strategy? (Choose all that apply.)
A. Z should set a target for reported profit.
B. JJJ needs to acquire and install appropriate hardware and software.
C. JJJ should unfreeze current habits and standard operating procedures.
D. JJJ should convince staff of the benefits of sharing their tacit knowledge.
E. Z should gain the support of the Board of Directors.
F. JJJ should integrate knowledge management and management accounting.
BCA is a long established international airline. Which of the following represent Threats to BCA's business? (Choose all that apply.)
A. A sudden increase in international terrorism.
B. A substantial rise in the price of oil.
C. A higher level of private car ownership.
D. Greater popularity of long-haul holidays.
E. A shortage of trained pilots in BCA.
HHH is a manufacturer which has a bonus scheme for its production workers related to the speed of output. HHH's products are very specialized and are made in a dangerous production environment. HHH's production workers usually work alone but sometimes, if there are problems in the production environment (for example, machinery breakdowns), they have to work in teams. When the production workers are working in teams they do not receive any bonus.
HHH's senior management is proposing to amend the current bonus scheme to encourage increased productivity. Under the current bonus scheme, production workers receive extra pay when they achieve 45% of their individual target: The target level is low because of the dangerous production environment and the need to occasionally work in teams.
Under the proposed bonus scheme, production workers will not receive any extra pay until they have achieved 90% of their individual target. Workers who achieve 90% or above of their individual target will be paid a 30% higher bonus.
Which THREE of the following problems is HHH most likely to encounter with the introduction of the proposed bonus scheme? (Choose three.)
A. The extra production output will lead to an increase in inventory.
B. The proposed bonus scheme conflicts with health and safety legislation.
C. Production workers could consider the new target as unachievable.
D. Production workers will not be motivated by the proposed level of bonus.
E. There could be a rise in the level of workplace accidents.
An organization must acquire suitable hardware and software in order to implement a knowledge management strategy so that knowledge can be stored and communicated.
Which of the following would be appropriate systems to use in a knowledge management strategy? (Choose all that apply.)
A. Intranet
B. Local area network
C. Social media
D. Ledgers and journals
E. Internet
F. Groupware
Which of the following would be correct considerations when evaluating the Feasibility of a strategy? (Choose all that apply.)
A. Will there be sufficient time to implement the strategy?
B. Will the strategy exploit the core competencies of the business?
C. Will the strategy maintain competitive advantage?
D. Will customers object to the strategy?
E. Will the business be able to deal with the responses of its competitors to the strategy?
RST is a company specializing in the production of wood-based products. RST has decided to introduce a fully integrated Information System across all divisions in order to improve knowledge sharing throughout the business and enhance customer relationship management.
RST is expecting resistance to the integrated Information System from it's staff who are key to the business and would be difficult to replace. Staff have a good understanding of why the new system and knowledge sharing is needed and how the system will work but many staff are not happy about the potential changes to their working conditions.
Which of the following change leadership styles, as outlined by Kotter and Schlesinger, would be most appropriate for RST to adopt?
A. Education
B. Coercion
C. Manipulation
D. Negotiation
Company TTT produces a range of products, including products T1 and T5.
Product T1: Profitability has declined in recent years, although small profits continue to be made as the market contracts due to changing customer preferences. Overall market share is low and continues to reduce. However, in addition to external sales T1 is also used as a component of product T5.
Product T5: A market leader within a low growth market, sources components both externally and from TTT's other subsidiaries. T5 benefits from significant economies of scale and TTT has recently considered modernizing its T5 production line but following a cost benefit analysis, decided not to proceed.
Which of the following is an appropriate strategy for TTT to adopt?
A. Divest both product T1 and product T5.
B. Harvest product T1 and Divest product T5.
C. Harvest both product T1 and product T5.
D. Divest product T1 and Harvest product T5.
Which TWO of the following are advantages to an organization of using non-financial performance measures, rather than financial performance measures? (Choose two.)
A. They are less expensive to measure than financial performance measures.
B. They present a wider view of organizational performance than financial performance measures.
C. They are less subjective than financial performance measures.
D. They are not distorted by inflation.
E. They are easier to measure than financial performance measures.
BBB is a manufacturer that has been criticized in the financial press because it does not have a policy for sustainability.
Which THREE of the following elements would be crucial to BBB successfully embedding sustainability into its activities? (Choose three.)
A. BBB should include sustainability targets in performance appraisal.
B. BBB's Board should make a commitment to sustainability.
C. BBB should give all its staff training in sustainability.
D. BBB should spend at least 0.1% of its Net Profit on sustainability projects.
E. BBB should employ a new public relations consultancy.
F. BBB should investigate the costs and benefits of establishing a sustainability department.
A leading retail chain is undertaking environmental scanning as it is concerned that it is becoming uncompetitive and profits have started to fall. The Board of Directors is concerned that it will need to have a viable strategy to present to its shareholders at the next annual general meeting, in order to prevent shareholders' protests.
The company has been reluctant in the past to offer an Internet shopping service. It now believes, however, that by offering this service and introducing customer relationship marketing (CRM), this will produce a strategy that will help it to improve its competitiveness.
Which of the following statements apply to CRM? (Choose all that apply.)
A. The company must be prepared to take customers' needs into account and be able to meet these needs.
B. In mature markets, existing customers provide the most likely source of future earnings.
C. CRM is about marketing to customers to obtain their loyalty, so customer research is not needed.
D. CRM utilizes marketing resources to retain, rather than simply attract new customers.
E. The CRM process needs to include increasing the range of products that will be offered to customers.
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