CHRP Study – Strategy PASSED Exam Questions and CORRECT Answers
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Course
CHRP
Institution
CHRP
CHRP Study – Strategy PASSED Exam
Questions and CORRECT Answers
Organic Growth - CORRECT ANSWER- expanding the client base and, or product
service offerings
Global growth - CORRECT ANSWER- seeking new markets for existing products or
services by international expansion
Mergers and Acquis...
CHRP Study – Strategy PASSED Exam
Questions and CORRECT Answers
Organic Growth - CORRECT ANSWER- ✔✔expanding the client base and, or product
service offerings
Global growth - CORRECT ANSWER- ✔✔seeking new markets for existing products or
services by international expansion
Mergers and Acquistions - CORRECT ANSWER- ✔✔achieving growth through purchasing
or merging with another company that may offer similar or different products or services, or
provide access to international markets
Turnaround - CORRECT ANSWER- ✔✔achieving business efficiency by refocusing efforts
on particular or existing products or services or by launching a new product or service.
Divestiture - CORRECT ANSWER- ✔✔selling a division or part of the organization that
creates a certain product or service to another organization. This brings much needed capital
to focus on more profitable parts of the business.
Liquidation - CORRECT ANSWER- ✔✔selling off assets at bargain prices, closing
businesses and laying off of employees. There may be some capital gained, but does not add
a significant value, but rather is intended to quickly stop further losses.
Bankruptcy - CORRECT ANSWER- ✔✔when a company cannot pay its creditors, the
organization may be forced to cease operations and its assets are sold and divided among
creditors.
Maintenance Strategy - CORRECT ANSWER- ✔✔while most organizations are elastic,
meaning they are either trying to grow or being forced to restructure, some may choose
stability, particularly during difficult economic conditions. Small organizations and
government departments may choose to maintain current service levels to meet customer
needs until conditions change or the need increases significantly.
, Business Strategies and competitive positioning - CORRECT ANSWER- ✔✔Strategies
which focus on how the organization will achieve its goals. Includes developing and
delivering a time-specific business plan translated into an annual plan and budget.
Low-cost provider strategy (Michael Porter's five generic competitive strategies) -
CORRECT ANSWER- ✔✔product or service offered at a price lower than that of other
competitors while appealing to a broad range of customers.
Broad differentiation strategy (Michael Porter's five generic competitive strategies) -
CORRECT ANSWER- ✔✔differentiating products from other competitors' products in ways
that will appeal to a broad range of customers
Best-cost provider strategy (Michael Porter's five generic competitive strategies) -
CORRECT ANSWER- ✔✔Giving customers more value for their money by emphasizing a
low-cost product or service with upscale differentiation
Focused or market niche strategy based on lower cost (Michael Porter's five generic
competitive strategies) - CORRECT ANSWER- ✔✔offering a low-cost service or product to
a select group of customers
Focused or market niche strategy based on differentiation (Michael Porter's five generic
competitive strategies) - CORRECT ANSWER- ✔✔niche product or service customized to
the tastes and requirements of a very narrow market segment, such as luxury goods or
services.
Corporate strategy as defined by Porters model - CORRECT ANSWER- ✔✔through
competitive positioning is defined by a product (cost, quality, variety,etc) and market scope
(size, geography, demographics, income, etc)
Organization effectiveness - CORRECT ANSWER- ✔✔achieved through the alignment of
Strategy, Structure, Process, Competencies, and Culture in a way that ensures the
organization has the shared mind-set, leadership, core competency, and capacity to change to
be successful
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