At a recent Board Meeting the Directors of an office fitting company ratified the company's mission as:
To meet or undercut all our competitors' prices'
Which of the following is MOST LIKELY to be the company's vision?
A vision statement is a concise and inspiring statement of what the organisation aspires to be in the future. It should reflect the organisation's core values and purpose, and provide direction and motivation for its stakeholders. A vision statement should not be too specific or focused on the current state of the organisation, but rather on the desired future state. Therefore, option A is the best choice, as it expresses a clear and aspirational vision that aligns with the company's mission of meeting or undercutting all its competitors' prices. Option B is too narrow and does not capture the essence of the organisation's purpose. Option C is too vague and does not indicate how the organisation will achieve its goal. Option D is too generic and does not differentiate the organisation from its competitors.
John has been working on a business case for opening up the overseas market to new products He has been asked to document the risks What SHOULD he do to ensure they are appropriately recorded? Select the TWO that apply
A risk is an uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives. To ensure that risks are appropriately recorded, they should be documented in a consistent and structured way, such as using a RAID log (Risks, Assumptions, Issues and Dependencies). A RAID log should include information such as the risk description, impact, probability, source, owner, mitigation actions, status and date. Therefore, options B and C are essential for recording risks, as they help to identify where the risk originates from and who is responsible for managing it. Option A is not relevant to recording risks, as it is the name of the tool used to document them. Option D and E are not relevant to recording risks, as they relate to the countermeasures or actions taken to address them, not the risks themselves.
The management of a chain of hotels has decided that one of its critical success factors (CSF) is to 'provide excellent customer service' The below measures have been suggested.
Which THREE of these are appropriate key performance indicators (KPIs) for the CSF 'provide excellent customer service"?
A key performance indicator (KPI) is a measurable value that demonstrates how effectively an organisation is achieving a key business objective or critical success factor (CSF). A KPI should be relevant, specific, measurable, achievable, realistic and time-bound (SMART). Therefore, options C, D and E are appropriate KPIs for the CSF 'provide excellent customer service', as they measure aspects of customer satisfaction and loyalty that are directly related to the quality of service provided by the hotel chain. Option A is not an appropriate KPI, as it does not measure customer service, but rather customer consumption. Option B is not an appropriate KPI, as it does not measure customer service, but rather customer preference.
A report has been created into improving the scheduling of physio appointments at a major hospital An extract reads
'The scheduling team have a strong set of skills that will not need to be updated However, the team should be split into two. one dealing with inpatients and one with outpatients The introduction of a new telephony software and an online booking system will also require changes to the process'
How might these changes be BEST presented to communicate with the scheduling team'?
A prototype is a simplified version of a proposed system or product that can be used to demonstrate its functionality and usability to the stakeholders. A prototype can be useful for communicating changes that involve new technology or software, as it allows the users to interact with the system and provide feedback. Therefore, option D is the best choice, as it would allow the scheduling team to see how the new telephony software and online booking system would work and how they would affect their process. Option A is not a good choice, as a business process model is a graphical representation of the activities, inputs, outputs and resources involved in a business process. It would not show how the new software would work or how the team would be split. Option B is not a good choice, as a business activity model is a high-level view of the business activities that take place within an organisation. It would not show the details of the scheduling process or the new software. Option C is not a good choice, as POPIT is an acronym for People, Organisation, Process, Information and Technology. It is a framework for taking a holistic view of a business situation, but it is not a tool for communicating changes.
A company is reviewing its critical success factors and key performance indicators So far. it has key performance indicators for the following
The time to deliver orders for products Consumer satisfaction with products Wastage in product production The qualifications of production employees
Which area of Kaplan and Norton's balanced business scorecard has NOT been considered?
Kaplan and Norton's balanced business scorecard is a strategic management tool that helps organisations to measure their performance across four perspectives: financial, customer, internal business process and learning and growth. The financial perspective focuses on how the organisation creates value for its shareholders and stakeholders. It includes measures such as revenue, profit, return on investment and cash flow. The customer perspective focuses on how the organisation meets the needs and expectations of its customers. It includes measures such as customer satisfaction, loyalty, retention and market share. The internal business process perspective focuses on how the organisation delivers its products and services to its customers. It includes measures such as quality, efficiency, productivity and innovation. The learning and growth perspective focuses on how the organisation develops its capabilities and competencies to achieve its goals. It includes measures such as employee skills, knowledge, motivation and empowerment. Therefore, option D is the correct answer, as financial measures have not been considered in the given list of key performance indicators. Option A is not correct, as learning and growth measures have been considered in the qualifications of production employees. Option B is not correct, as internal business process measures have been considered in the time to deliver orders for products and wastage in product production. Option C is not correct, as customer measures have been considered in consumer satisfaction with products.
