IMS 3310 FINAL EXAM STUDY GUIDE
SOLUTIONS
bottom-up planning - ANSWER-planning process that begins at the lowest level in the organization
and continues upward
budget - ANSWER-an itemized projection of revenues and expenses for a future time period
competitive advantage - ANSWER-the ability of...
top-down planning - ANSWER✔✔-planning process that begins at the highest level in the organization
and continues downward
value chain - ANSWER✔✔-a set of interlinked activities that adds value to the final product or service
value chain analysis - ANSWER✔✔-an assessment conducted on the chain of interlinked activities of an
organization or set of interconnected organizations, intended to determine where and to what extent
value is added to the final product or service
values statement - ANSWER✔✔-a clear, concise description of the fundamental values, beliefs, and
priorities expected of the organization's members, reflecting how they are to behave with each other
and with the company's customers, suppliers, and other members of the global community
vision statement - ANSWER✔✔-a description of the company's desired future position if it can acquire
the necessary competencies and successfully implement its strategy
affiliates - ANSWER✔✔-companies controlled by other companies, but less-than majority owners may
exercise control by a variety of means, both those involving stock ownership and those involving non-
ownership mechanisms
horizontal corporation - ANSWER✔✔-a form of organization characterized by lateral decision processes,
horizontal networks, and a strong corporate-wide business philosophy
hybrid organization - ANSWER✔✔-a structure organized by more than one dimension at the top level
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