In Order to Take Advantage of the Potential for Synergy

question 75

Multiple Choice

In order to take advantage of the potential for synergy, managers should

• A)create groups where the members have the same personality traits.
• B)be strongly directive with the group.
• C)build groups with members possessing complementary skills and knowledge.
• D)discourage group members from providing each other feedback.
• E)reward individual performances instead of the group as a whole.

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Definitions:

Business Strategy

A plan of action designed to achieve a long-term or overall aim and secure a competitive position in the market.

Functional Strategy

A plan of action developed by a department within an organization to support the overall business strategy and competencies.

Strategic Analysis

The process of researching an organization’s business environment and its internal context to craft strategies for future success.

Competitive Position

A company's standing or rank in the marketplace in comparison to its competitors, typically assessed in terms of market share, profitability, and brand strength.