Explain the four combination strategies that may be generated from the TOWS Matrix
What will be an ideal response?
The TOWS Matrix results in four combination strategies as follows:
SO Strategies are generated by thinking of ways in which a company or business unit could use its strengths to take advantage of opportunities.
ST Strategies consider a company's or unit's strengths as a way to avoid threats.
WO Strategies attempt to take advantage of opportunities by overcoming weaknesses.
WT Strategies are basically defensive and primarily act to minimize weaknesses and avoid threats.
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Revenue (or yield) management is best described as:
A) a situation where management yields to labor demands. B) a situation where the labor union yields to management demands. C) a process designed to increase the rate of output. D) allocation of scarce resources to customers at prices that will maximize revenue. E) management's selection of a product mix yielding maximum profits.
At the CMMI Level 5, software processes are defined by individuals in an organization
Indicate whether the statement is true or false