In a scenario where a company has limited resources, which strategy would best o

Practice Questions

Q1
In a scenario where a company has limited resources, which strategy would best optimize resource allocation?
  1. Investing equally across all departments.
  2. Prioritizing departments based on their contribution to overall goals.
  3. Reducing resources in high-performing areas.
  4. Distributing resources based on historical data alone.

Questions & Step-by-Step Solutions

In a scenario where a company has limited resources, which strategy would best optimize resource allocation?
  • Step 1: Identify the company's overall goals and objectives.
  • Step 2: List all departments and their contributions to these goals.
  • Step 3: Evaluate which departments have the highest impact on achieving the goals.
  • Step 4: Rank the departments based on their contributions.
  • Step 5: Allocate resources first to the highest-ranked departments.
  • Step 6: Monitor the performance of these departments to ensure resources are being used effectively.
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