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IMS 3310 Final Exam Questions and Answers Graded A+

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IMS 3310 Final Exam Questions and Answers Graded A+ bottom-up planning ✔✔ planning process that begins at the lowest level in the organization and continues upward budget ✔✔ an itemized projection of revenues and expenses for a future time period competitive advantage ✔✔ the ability of a company to achieve and maintain a unique and valuable competitive position both within a nation and globally, generating higher rates of profit than its competitors competitive strategies ✔✔ action plans to enable organizations to reach their objectives contingency plans ✔✔ plans for the best or worst case scenarios or for citical events that could have a severe impact on the firm explicit knowledge ✔✔ knowledge that is easy to communicate to others via words, pictures, formulas, or other means international strategy ✔✔ a plan that guides the way firms make choices about developing and deploying scarce resources to achieve their international objectives iterative planning ✔✔ repetition of the bottom-up or top-down planning process until all differences have been reconciled knowledge management ✔✔ the practices that organizations and their managers use for identifying, creating, acquiring, developing, dispersing, and exploiting competitively valuable knowledge mission statement ✔✔ a broad statement that defines the organization's purpose and scope policies ✔✔ broad guidelines issued by upper management to assist lower-level managers in handling recurring issues or problems procedures ✔✔ guides that specify ways of carrying out a particular task or activity sales forecast ✔✔ a prediction of future sales performance scenarios ✔✔ multiple, plausible stories about the future strategic planning ✔✔ the process by which an organization determines where it is going in the future, how it will get there, and how it will assess whether and to what extent it has achieved its goals tacit knowledge ✔✔ knowledge that an individual has but that is difficult to express clearly in words, pictures, or formulas and is therefore difficult to transmit to others top-down planning ✔✔ planning process that begins at the highest level in the organization and continues downward value chain ✔✔ a set of interlinked activities that adds value to the final product or service value chain analysis ✔✔ 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

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