Does strategic planning pay off?
What will be an ideal response?
ANSWER: Research show that it does. Most of the studies imply—if they do not directly state—that planning influences a venture's survival. In one study, lack of planning was identified as a major cause of failure, and still another investigation demonstrated that firms engaged in strategic planning outperformed those that did not use such planning. A study of small firms further established the importance of selecting an appropriate strategy (niche strategy) for a venture to build distinctive competence and a sustainable competitive advantage. Another research study examined the dynamic effects of strategies on company performance in the software industry and found that, when focus or differentiation strategies were established, performance by those firms was enhanced.
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Fill in the blank(s) with the appropriate word(s).
________ occurs when channel members experience disagreements and their relationship becomes strained.
A. Channel conflict B. Vertical integration C. Outsourcing D. Disintermediation E. Stock-out
The coverage of a standard fire insurance policy cannot be enlarged by adding riders or endorsements to the policy
Indicate whether the statement is true or false
Maureen, hospital administrator for Trinity Hospital, would like to set up a work schedule for the hospital’s nurses. Each nurse will work for eight consecutive hours. The minimum number of nurses needed in each of six 4-hr time intervals is shown in the following table. At the optimal staffing level, how many nurses will start their shift at 8 a.m.?
A. 21
B. 4
C. 12
D. 8