Identify and discuss the key aspects of strategic planning addressed by the Baldrige category of strategic planning
Category 2 of the Malcolm Baldrige National Quality Award Criteria for Performance Excellence is Strategic Planning. Item 2.1, Strategy Development, examines how an organization determines its core competencies, strategic challenges, and strategic advantages and establishes its strategic objectives to address its challenges and leverage its advantages. The aim is to strengthen overall performance, competitiveness, and future success. Item 2.2, Strategy Implementation, examines how an organization converts strategic objectives into action plans to accomplish the objectives. It also examines how the organization assesses progress relative to these action plans. The aim is to ensure that strategies are successfully deployed for goal achievement.
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Under a team-based new product development approach, company departments work closely together in cross-functional teams. Overlapping the steps in the product development process saves time and increases effectiveness
Indicate whether the statement is true or false
The behavioral approach reminds leaders that ______.
A. personality is the essence of effective leadership B. who they are is more important than what they do C. task behaviors are more important than relationship behaviors D. they should continually engage in both task and relationship behaviors
In a common-size income statement, each item is expressed as a percentage of net income
Indicate whether the statement is true or false
Garcia Industries has sales of $187,500 and accounts receivable of $18,500, and it gives its customers 25 days to pay. The industry average DSO is 27 days, based on a 365-day year. If the company changes its credit and collection policy sufficiently to cause its DSO to fall to the industry average, and if it earns 8.0% on any cash freed up by this change, how would that affect its net income, assuming other things are held constant? Assume all sales to be on credit. Do not round your intermediate calculations.
A. $333.37 B. $311.15 C. $370.41 D. $422.27 E. $459.31