Question 1

Which two comments summarise the access/execution paradox?

Accepted Answer

A)  Middle managers normally take responsibility for planning strategy. 
B)  Those with most access to the CEO are strategic planners and strategy consultants. 
C)  Middle managers have knowledge of the business on the ground and have responsibility for strategy implementation. 
D)  Senior management has the greatest understanding of operational issues. 
A)  Middle managers normally take responsibility for planning strategy. 
B)  Those with most access to the CEO are strategic planners and strategy consultants. 
C)  Middle managers have knowledge of the business on the ground and have responsibility for strategy implementation. 
D)  Senior management has the greatest understanding of operational issues.

Question 2

McKinsey & Co research indicates that the people involved in making strategic decisions should vary according to the nature of the decision.

Accepted Answer

A) True 
 B)False

Question 3

An organisation needs to plan a rapid reaction to a competitor's pricing move. Which of the following approaches is probably best?

Accepted Answer

A)  A small, special project team 
B)  Strategic conversation by managers throughout the organisation 
C)  A strategy workshop 
D)  Discussion by marketing and finance managers 
A)  A small, special project team 
B)  Strategic conversation by managers throughout the organisation 
C)  A strategy workshop 
D)  Discussion by marketing and finance managers

Question 4

Which of the following provides the data and argument in support of a particular strategy for the whole organisation over a substantial period of time?

Accepted Answer

A)  Business case 
B)  Strategy project 
C)  Mission 
D)  Strategic plan 
A)  Business case 
B)  Strategy project 
C)  Mission 
D)  Strategic plan

Question 5

What term is used for the fact that people tend to exaggerate a case in favour of this particular proposal?

Accepted Answer

A)  Horn's effect 
B)  Halo effect 
C)  Champion's bias 
D)  Sunflower syndrome 
A)  Horn's effect 
B)  Halo effect 
C)  Champion's bias 
D)  Sunflower syndrome

Question 6

Which of the following is not one of the three important qualities that senior managers need if they are to contribute effectively to high- level strategy making?

Accepted Answer

A)  Social and influencing skills 
B)  Experience in a contrasting industry or sector 
C)  Mastering analytical concepts and techniques 
D)  Group acceptance as a player 
A)  Social and influencing skills 
B)  Experience in a contrasting industry or sector 
C)  Mastering analytical concepts and techniques 
D)  Group acceptance as a player

Question 7

An organisation wants to consider the long- run evolution of their market. Which of the following approaches is probably best?

Accepted Answer

A)  Strategic conversation by managers throughout the organisation 
B)  A small, special project team 
C)  A strategy workshop 
D)  Discussion by marketing managers 
A)  Strategic conversation by managers throughout the organisation 
B)  A small, special project team 
C)  A strategy workshop 
D)  Discussion by marketing managers

Question 8

In which three ways are the top management team constrained?

Accepted Answer

A)  They tend to work for consensus and avoid conflict. 
B)  They are often appointed by the CEO so may lack independence. 
C)  They can only offer an external view of the organisation. 
D)  They typically also hold operational responsibilities which may distract them. 
A)  They tend to work for consensus and avoid conflict. 
B)  They are often appointed by the CEO so may lack independence. 
C)  They can only offer an external view of the organisation. 
D)  They typically also hold operational responsibilities which may distract them.

Question 9

Which of the following is not one of Eisenhardt's suggestions for managers making decisions in fast- moving environments?

Accepted Answer

A)  Aim for consensus but not at any cost 
B)  Carry out full analysis of all options before decision making 
C)  Build multiple, simultaneous alternatives 
D)  Seek the views of trusted advisors 
E)  Track real- time information 
A)  Aim for consensus but not at any cost 
B)  Carry out full analysis of all options before decision making 
C)  Build multiple, simultaneous alternatives 
D)  Seek the views of trusted advisors 
E)  Track real- time information

Question 10

Which two of the following are ways in which use of SWOT in practice often deviates from textbook recommendations?

Accepted Answer

A)  O and T factors are often considered of more importance than S and W factors. 
B)  Factors are rarely probed or refined. 
C)  S and W factors are often considered of more importance than O and T factors. 
D)  It produces lists that are unmanageably long. 
A)  O and T factors are often considered of more importance than S and W factors. 
B)  Factors are rarely probed or refined. 
C)  S and W factors are often considered of more importance than O and T factors. 
D)  It produces lists that are unmanageably long.

Which two comments summarise the access/execution paradox?

McKinsey & Co research indicates that the people involved in making strategic decisions should vary according to the nature of the decision.

An organisation needs to plan a rapid reaction to a competitor's pricing move. Which of the following approaches is probably best?

Which of the following provides the data and argument in support of a particular strategy for the whole organisation over a substantial period of time?

What term is used for the fact that people tend to exaggerate a case in favour of this particular proposal?

Which of the following is not one of the three important qualities that senior managers need if they are to contribute effectively to high- level strategy making?

An organisation wants to consider the long- run evolution of their market. Which of the following approaches is probably best?

In which three ways are the top management team constrained?

Which of the following is not one of Eisenhardt's suggestions for managers making decisions in fast- moving environments?

Which two of the following are ways in which use of SWOT in practice often deviates from textbook recommendations?

Introducing Strategy

The Environment

Strategic Capability

Governance and Stakeholders

Strategy and Culture

Business-Level Strategy

Innovation Entrepreneurship

Corporate Diversity

International Strategy

Directions Methods

Organising for Success

Enabling Success

Managing Change

Strategy Development Processes

Filters

Exam 15: The Practice of Strategy

Which two comments summarise the access/execution paradox?

McKinsey & Co research indicates that the people involved in making strategic decisions should vary according to the nature of the decision.

An organisation needs to plan a rapid reaction to a competitor's pricing move. Which of the following approaches is probably best?

Which of the following provides the data and argument in support of a particular strategy for the whole organisation over a substantial period of time?

What term is used for the fact that people tend to exaggerate a case in favour of this particular proposal?

Which of the following is not one of the three important qualities that senior managers need if they are to contribute effectively to high- level strategy making?

An organisation wants to consider the long- run evolution of their market. Which of the following approaches is probably best?

In which three ways are the top management team constrained?

Which of the following is not one of Eisenhardt's suggestions for managers making decisions in fast- moving environments?

Which two of the following are ways in which use of SWOT in practice often deviates from textbook recommendations?

Introducing Strategy

The Environment

Strategic Capability

Governance and Stakeholders

Strategy and Culture

Business-Level Strategy

Innovation Entrepreneurship

Corporate Diversity

International Strategy

Directions Methods

Organising for Success

Enabling Success

Managing Change

Strategy Development Processes

Filters