Question

For my Business Policy Class: 1- What kinds of advantages and disadvantages are associated with the...

For my Business Policy Class:

1- What kinds of advantages and disadvantages are associated with the size of an organization?

2- How do the financial analysis of a firm influence its strategic options?

3- Suggest some specific means by which business can strengthen their positions and develop distinctive competencies.

4- “Business which develops formal strategic planning system will be more effective in achieving their objectives than those which do not”. Explain in detail why this is true.

Homework Answers

Answer #1

1- What kinds of advantages and disadvantages are associated with the size of an organization?

  • Bigger organisation can tackle any problem with a greater manpower, thus resolving a problem becomes easier
  • Bigger organisations can divide the responsibilities by forming several departments for easier flow of information
  • Bigger organisations can be difficult to manage as diversity issues might evolve
  • Bigger organisations can hinder the streamlining and aligning of processes
  • Bigger organisations can tend to form heirarchies which makes decision making difficult

2- How do the financial analysis of a firm influence its strategic options?

  • Financial metrics are the standard for assessing a firm’s performance.
  • financial analysis establishes measurable financial strategic goals on a coordinated, integrated basis, thus enabling the firm to operate efficiently
  • Free cash flow helps in anticipating substantial capital expenditures in the near future
  • economic value-added goals can determine businesses’ value contributions

3- Suggest some specific means by which business can strengthen their positions and develop distinctive competencies

  • Companies should opt for differentiations of their product so as to beat competition
  • Companies should invest in R&D to invent new technologies
  • Companies should adrress the customers grievances effectively to satisfy them
  • Companies should keep employees happy and motivated so that they work in inclusion towards the companies goals

4- “Business which develops formal strategic planning system will be more effective in achieving their objectives than those which do not”. Explain in detail why this is true.

  • This statement is true because a strategic plan gives a company an ambitious goal to achieve
  • strategic planning system helps in determining the future difficulties and ways to tackle them
  • strategic planning system also aims for sustainable development
  • strategic planning system sets specific goals for individuals which in turn fulfils company's goals
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