FREE TMA Introduction to Business Questions and Answers

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Organizations can greatly benefit from strategies for ----

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The following are examples of vertical growth: -----.

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"All of these" correctly identifies the various ways in which horizontal growth can be achieved through acquisitions, mergers, and hostile takeovers. Each of these strategies involves expanding within the same industry and acquiring or merging with companies that offer similar products or services, thereby increasing market share and competitiveness.

The organization ------ is what holds managers together and facilitates more coordination & adjustment in their job.

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The goal of turnaround management is to ——

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"All of these" accurately captures the multifaceted nature of turnaround management, which involves addressing weaknesses, strengthening business units, and restoring profitability to struggling organizations. Each of these aspects is crucial for achieving successful turnaround outcomes and revitalizing the organization's performance and competitiveness.

It is via business —— that novel concepts and inventive ideas are given expression and developed into beneficial goods and services.

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In the given statement, the emphasis is on the outcome or purpose of business activities, which is to transform fresh ideas and innovations into useful products and services. "Goals" best encapsulates this idea, as goals represent the overarching objectives or targets that a business aims to achieve through its operations. Goals provide direction and serve as a benchmark for evaluating success.

While "Plans," "Policy," and "Strategies" are all important elements of business operations, they are more focused on the methods, procedures, and approaches used to achieve the goals rather than the goals themselves. Goals drive the formulation of plans, policies, and strategies.

The following are examples of vertical growth: -----.

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The correct answer is "Both Backward integration and Forward integration" as they both represent forms of vertical growth within a company's strategic expansion along the supply chain.

The process of turning around the company's financial situation is known as ——.

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"Turnaround management" is the correct answer as it specifically refers to the process of reviving a struggling firm's fortunes through targeted interventions and strategic changes.

Research is conducted, and product marketing and advertising are coordinated by the ---- function.

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"Marketing" is the correct answer as it specifically involves activities related to research, organizing advertising, and product promotion, which are essential functions within the marketing discipline.

Dam construction is under the ------ industry.

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Numerous companies falter because of ----

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"All of these" accurately reflects the multiple factors that can contribute to the decline of organizations, including falling sales, declining profits, and declining demand. Each of these factors is interconnected and can have significant implications for an organization's sustainability and success.

---- happens when a firm takes over a function that was previously handled by a distributor or supplier in an effort to cut expenses, preserve input quality, and regain control over limited resources.

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"Vertical growth" is the correct answer as it accurately reflects the concept of a company internalizing functions previously outsourced to suppliers or distributors to achieve strategic objectives such as cost reduction, quality control, and resource management.

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