GSLC 2: INTERNAL ASSESSMENT (27 MARCH 2013)
Please answer all the questions :
1. Discuss the relationship between benchmarking and value chain analysis. Answer: Value chain analysis is the process whereby a firm determines the costs associated with organizational activities from purchasing raw materials to manufacturing product(s) to marketing those products and benchmarking is the tool used to determine whether a firm’s value chain activites are competitive compared to rivals and thus conducive to winning in the marketplace
2. How could the “process of performing an internal audit” differ across countries given varying management styles globally? 1. Answer: From every company they have differences in doing the internal audit, it depends on what is the company type and how to approach the employee .
3. Why is sole reliance on financial ratios an ineffective means of deriving internal strengths and weaknesses? Answer: Financial ratio is better used for investment, financing and dividend decisions. While, for strengths and weaknesses is related to the internal factor for the company that can be calculated through IFE matrix
4. Give an example of two resources for a fast-food chain that you believe meet the three “empirical indicators” criteria. Answer: Three empirical indicator criteria are physical resources, human resources, and organizational resources. For example McDonald’s and Burger King. Both are famous in almost every country.
5. Why is human resource management particularly challenging for international firms? Answer: because sometimes in firms there is so many factors that make employees work not good as expected, if the employee is in the good job position or not.
6. Identify four major strengths and four major weaknesses of your college or university. Rank each factor in terms of importance. • Strengths (from rank 1-4):
- Low cost...