Exam (elaborations)
FMP Leadership & Strategy questions with answers
- Course
- Institution
FMP Leadership & Strategy questions with answers
[Show more]
Content preview
FMP Leadership & Strategy questionswith answers
Balanced Scorecard - .......🔷ANSWERS🔶......✔✔ A long-term strategy implementation tool developed
by Kaplan and Norton that guides staff by providing measurable goals and feedback
Benchmarking - .......🔷ANSWERS🔶......✔✔ A method of comparing performance of commodities or
services against comperable practices of other organizations or industries
Best Practices - .......🔷ANSWERS🔶......✔✔ Techniques, approaches, or methods of conducting
business in amanner that had been widely recognized by peers and the industry as generally being the
most effective and consistently provides the desired results
Bubble Diagram - .......🔷ANSWERS🔶......✔✔ An adjacency diagram that ilustrates primary and
secondary adjacencies between major work groups or departments
Chain of command - .......🔷ANSWERS🔶......✔✔ The number of reporting authority levels between a
given job position and the top authority level in the sequence
Change Management - .......🔷ANSWERS🔶......✔✔ A process that involves defining, refining, and
implementing plans for changes. It emphasizes overcoming stakeholder and bureaucratic resistance
through coordinated communications and stakeholder involvement
Client Profiles/ Business unit Goals - .......🔷ANSWERS🔶......✔✔ Client profiles or business unit goals
are summaries of the strategic objectives and requriements, mission, vision, and goals for each business
unit within the organization or of each client if the FM organization is an external service provider
Continual Improvement - .......🔷ANSWERS🔶......✔✔ A philosophy that emphasizes empowering all
team members to seek root causes of problems and reccommend small incremental improvements in
quality, efficiency, and effectiveness wherever and whenever they are found
, Controlling - .......🔷ANSWERS🔶......✔✔ The use of position power to provide a directing or restraining
influence over people and inputs, processes, or outputs by observing, measuring, or verifying them
through evidence or experiment.
Corporate Social Responsibility - .......🔷ANSWERS🔶......✔✔ A form of organizational self-regulation
that integrates the interests of the community and environment into the organization's business model
and extends its bottom line beyond a sole interest in profits
Customer relationship management - .......🔷ANSWERS🔶......✔✔ A business technique that puts the
customer first
Delegation - .......🔷ANSWERS🔶......✔✔ A management decision to give employees/contractors full
responsibility for planning and execution of a task.
Derived requirements - .......🔷ANSWERS🔶......✔✔ Requirements resulting from the analysis of other
requirements
Empowerment - .......🔷ANSWERS🔶......✔✔ A management decision to give employees/contractors a
limited amount of "Decision rights" or authority to make decisions and take actions within their areas of
expertise without needing prior approval.
Environmental scanning - .......🔷ANSWERS🔶......✔✔ A systematic process of collecting and analyzing
external data on market forces, competitor prices and offerings, labor pools, demographic changes, new
laws, taxes, and regulations, technology, changing client needs, political or social upheavals, and
economic conditions.
External Risk - .......🔷ANSWERS🔶......✔✔ The chance that uncertain future events outside the direct
control of the organization could cause monetary, productivity, profit margin, or market share losses.
Extrinsic rewards - .......🔷ANSWERS🔶......✔✔ Benefits given out by managers or other sources based
on degree of success or general positive qualities
Facilities audit - .......🔷ANSWERS🔶......✔✔ Thorough, periodic reviews that encompass all of the
services and assets within a facility
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Schoolplug. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75759 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now