X Company's Board of Directors uses its expertise to develop future strategies. The Board defines objectives that need to be achieved and then, through formal proactive planning and careful analysis, it selects the most appropriate means to achieve them.
Which method of strategy formulation is the Board using?
The Board of organisation Y has authorised an upgrade to its computerised finance system.
The Finance Director, X, has been tasked with managing this project. X has been requested to consult with stakeholders, in order that a Project Initiation Document (PID) may be produced.
What are the TWO main uses of a PID?
Harvey Maylor created a project life cycle model based on four discrete and sequential stages. This is known as the 4D model. One of the stages involves the following activities:
- Documentation must be completed. Contracts, letters, accounting records etc. must be filed properly.
- Project systems must be closed down, including accounting systems - only after all costs have been settled.
- Handover to the client/end users must take place, and where appropriate obtain sign-off to signify that the contract is complete.
- Review the project to provide project staff with immediate feedback on performance.
To which stage of the 4D model do these activities apply?
The means by which competitive advantage might be gained differs, depending on whether a resource based approach or a positioning approach is adopted.
Which of the following options characterises the resource based approach?
Select ALL that apply:
TESTED 17 May 2024
