These are the appropriate courses of action formulated by business organization so as to attain set

objectives in the light of the firm's vision and mission statement.

Strategies

________ are the organizations' strengths which consist of collective expertise, creative and
problem solving capabilities, personal traits, entrepreneurial, managerial, and competency asset
skills and organizational human-centered assets.

Human resource assets

In choosing corporate officers and board members, envy should be a basic requirement.

False

When high profit can be achieved by a product manufacturer through diversifying into services with
larger return margins, ________ should be considered.

Market-centered organizational structure

It is a form of professional or applied ethics which examines the moral/ethical problems or ethical
principles which may arise in the business environment.

Business ethics

The best assurance in achieving competitive advantage, business sustainability and creating the
bargaining power is _________.

Innovation

To provide stakeholders with accountability level, business organizations should clarify and make
publicly unknown the responsibilities and roles of board and management.

False

________ refers to leading and communicating with employees to attain the objectives.

Directing

Geography, regulation, technology, intellectual exchange and sharing of capital and risk trigger a
joint venture.
True

Regardless of the situation, all strategies are applicable for all business firms.

False

Expansion strategy is chosen by business organization when its past financial performance and their
resource availability are both ________.

High

In functional organizational structure arrangement, closer contact between customers familiar with
the territory and their subordinates is present.

False

________ should be considered so as to establish competitiveness level because requirements for

funding can be demanding.

Big capitalization

In this example, "Garments company merging with pharmaceutical company.", _________ merger is
practiced.

Conglomerate

This strategy is adopted by business organization after assessing the situation if there is a situation
of lowering its profitability.

Profit strategy

Diversification combines different activities related to the business firm's activities.

False – Integration

In setting objectives, business organization should make them specific, measurable, achievable,
realistic and time specific.

True