University of Ghana Business School Business policy
UGBS: 402 Formative Assessment Second Semester, March 19, 2017
Instructions
Answer all questions on the question paper; there are 50 multiple choice questions in all. You may tick, circle or state the correct answer depending on the requirement of a question.
Time Allowed: 1 Hour
Index No……… Date: March 19, 2017
SECTION A: FILL IN THE BLANK SPACES
1. Likewise, economics, marketing and finance, there are theories which inform business policy. Outline the main theories of business policy as discussed in class
……….. ……….. 2. For example, from business policy viewpoint, if the University of Ghana organizes its task, people, activities and resources to execute its policy and strategy, this activity will be referred to as the University’s……… 3. In the course on implementing its policy and strategy if the University of Ghana creates new programmes, such action will be referred to as ………... 4. As an approach, the internal analysis produces 1)……… 2) ………... 5. A good fit of the 1)………. and 2)………environment of the University of Ghana will produce optimum strategic results
6. In line with business policy and strategy, the tool for understanding a firm such as Ecobank’s environment is called the ………...
7. According to business policy and strategy, the three basic resources of an organization such as the University organization will be 1)………. 2)………
8. If for example the Ghana Commercial Bank introduces simple changes or adjustments in its existing services and/or processes, such an activity will be called……… 9. The variables beyond the control of say UT group of companies or for example KLM which influence the choice of direction and actions of such a firm will be referred to as the
………
10. The competitive forces is also known as the………... 11. The ……….managers recognizes that short-run profit maximization is rarely the best approach to achieving a sustained corporate growth
12. ……….measure of the………. shows how a company should appear to their shareholders
SECTION B: TRUE OR FALSE QUESTIONS
13. From business policy’s perspective, a core idea regarding how for example Kingdom Books Ltd (the operator of the University of Ghana’s Bookshop) can best compete in the Ghanaian market place is called the ……….
14. The ……….. approach attends to the needs of a particular market 15. ……… is defined as how a business operationlised its plans
16. Innovation and invention mean the same – true……….. false……… 17. Innovation is the same as development – true……….. false………... 18. If a firm has a business policy plan, such a plan will be the umbrella of its business plan and model – true………. false……… 19. In drawing up business policy and strategic plan, a firm structure will be part of its systems – true……….. false………. 20. The sub plans of business of policy and strategy for a company such as Coca Cola will include project management plan – true……….. false………. 21. If University of Ghana chooses to admit more students without doing anything different to its current programmes, this will mean that the university merely just wants to grow –
true…………... false………. 22. The concentrated strategy is an element of the business development model – true………… false……….
23. The business development model has four dimensions – true………. false….. 24. If University of Ghana acquires another University in Ghana, such a strategy will be called vertical forward integration- true……… false……… 25. If University of Ghana asks a section of its workforce to go home because of recession, such a strategy will be tantamount to the turnaround strategy- true……… false---26. In business policy, liquidation is recommended as a last resort to address company crises – true……… false………. 27. If the Pan Africa Bank, Ecobank gets to a situation where it cannot pay its debt when they fall due, this situation will be called a liquidation mood -true……….. false………… 28. Strategic alliance is the same as joint venture strategy- true………... false………… 29. A consortia is a large inter-locking relationships with a firm - true……… false… 30. A clear understanding of how a bank will make profit and the corresponding activities will be its business model – true………..
false……….
Assuming at GHACEM, (a cement manufacturing company) a group of four colleagues work on 24, 000 cements per month. Each of them receives GHC 1,700 as gross salary per month. One afternoon, the team leader used the office telephone for 2 hours for his personal call. It was ascertained that his call will cost the company GHC 50 that month. Assuming you are appointed as the new head of the section where the four colleagues work. As part of your measures with regard to how work is to be carried out, you are to suggest five quantitative (SMART) performance indicators for the workers as their assessment criteria per month. Your proposed indicators must relate solely to how they produce the cements within a month.
31. One performance indicator will be ………
32. Another performance indicator will be
………
33. The next performance indicator will be
………
34. Another indicator will be
……….
One of the issues in internal analysis concerns resource utilization. In that lecture the following concepts come out as critical for the success of an organization such as the University of Ghana; the concepts are: (a) efficiency, (b) effectiveness and (c) economy. From question 36 – 39, state whether each of the following events that will be occurring at the University of Ghana will examples of economy, efficiency and effectiveness.
36. If the average number of week required to complete a semester’s teaching reduces to 10 weeks, where the University’s target is 13 weeks. This will be an example of ……… 37. If the University of Ghana’s authorities recruit several hundred qualified lecturers from the South Africa, to be paid at standard rates of pay for lecturers. The policy aims to reduce the requirement for excess workload on the current lecturers and for the need to hire agency
lecturers. Such a policy will be clear evidence of
………
38. If as a result of ICT, the average length of time to teach a 3 credit hour course per week is at the University of Ghana reduces to one and half hours. This will be a demonstration of ………... 39. If fewer office consumables are now needed teach students per semester than was previously the case. This event will concern
……….. SECTION C: QUESTIONS WITH OPTIONAL ANSWERS
40. The two main types of mission statements are the narrow mission and the………. A. Broad mission
B. Strategic mission C. Controlled mission D. Horizontal mission E. Vertical mission
41.There are ……….main dimension in the SWOT model A) 2
B) 3 C) 4 D) 5 E) 6
42. In this strategy a firm integrates forward and aligns with its forward independent firms. This strategy is called.
A. Vertical forward integration B. Vertical backwards integration C. Horizontal integration
D. Conglomerate integration E. Mergers and acquisition
43. The structure of a firm where there are formal mechanisms to ensure co-ordination across functional lines by the embodiment of dual authority in the organization structure is known as the….
A. Matrix structure B. Functional structure C. Divisionalised structure D. Permanent structure E. Dual structure
44. It presents the view of how a firm organizes its activity to create value for its stakeholders. This is the firm’s ………. A. Value chain
B. Strategy C. Structure E. Systems
D. internal processes
45. Receiving, handling and storing inputs to the production system is which aspect of the value chain?
A. Outbound logistics B. Operations
C. Inbound logistics D. Primary level E. Executive activities
46. The “SMART” acronym is used to associate with A. Objectives
C. Targets D. Mission E. Deliverables
47. The main objective for learning business policy as a course is to A. Know how to prepare a business policy plan
B. Know how to prepare a project plan
C. Know how to be prepared for the job market D. Know how to prepare a business model E. Improve students’ skills
48. In business policy, if President Nana Addo removes the taxes on the importation of spare parts, this will be an issue considered in the
A. Operating environment B. Remote environment C. Industry environment D. Task environment E. Internal environment
49. The first element in a business model focuses A. Value proposition
B. The target market C. Cost structure D. Management model E. Strategic alliances
50. If a firm chooses not to design a formal strategy for doing business in a market, this will be related to the
A. Rational strategy B. Free wheel strategy C. Emergent strategy D. Deliberate strategy E. Competitive game plan
