Explain the key differences between business level and corporate level strategies. What kinds of management skills does each require?
What will be an ideal response?
This question is treated in detail in chapter 10. The ‘business’ or enterprise level is intended to refer
to a single organizational unit having relatively tightly-focused activities. In practice, this judgement
is an empirical matter, though as a general proposition one would expect that the focal enterprise is
operating within a single, defined industry sector or related sectors (as per chapters 3, 7 and 10). The
essential differences are that corporate strategic management is concerned with determining the portfolio of activities, (what domains are we – should we - be in) whether and how they interact to
mutual benefit or synergy: what chapter 5 is refers to as ‘architecture’, a significant potential source
of corporate advantage.
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What are customs duties? How do they work in controlling imported goods?
What will be an ideal response?
Which of the following is not a main goal of the internal auditing profession?
A. Provide reliable information to external users. B. Add value to an organization's operations. C. Help an organization to accomplish its objectives. D. Improve the effectiveness of risk management of an organization.
Substantive due process requires that the government give a person proper notice and hearing of legal action before that person is deprived of his or her life, liberty, or property.
Answer the following statement true (T) or false (F)
Childers Company, which uses a perpetual inventory system, has an established petty cash fund in the amount of $400. The fund was last reimbursed on November 30. At the end of December, the fund contained the following petty cash receipts: December 4Freight charge for merchandise purchased$62December 7Delivery charge for shipping to customer$46December 12Purchase of office supplies$30December 18Donation to charitable organization$51If, in addition to these receipts, the petty cash fund contains $201 of cash, the journal entry to reimburse the fund on December 31 will include:
A. A credit to Cash Over and Short of $10. B. A debit to Petty Cash of $189. C. A debit to Transportation-In of $62. D. A credit to Office Supplies of $30. E. A credit to Cash of $199.