Question 1

Contingency plans are alternative plans that can be put into effect if certain key events do not occur as expected.

Accepted Answer

A) True 
 B)False  True

Question 2

According to researchers, all of the following encourage individuals to accept change EXCEPT

Accepted Answer

A)  having a cognitive understanding of the changes. 
B)  having a sense of control over the situation. 
C)  having an awareness that necessary actions are going to be taken to implement change. 
D)  participating in strategy-evaluation activities. 
E)  being overpowered by the nature, types, and speed of changes. 
A)  having a cognitive understanding of the changes. 
B)  having a sense of control over the situation. 
C)  having an awareness that necessary actions are going to be taken to implement change. 
D)  participating in strategy-evaluation activities. 
E)  being overpowered by the nature, types, and speed of changes. E

Question 3

Which of the following is true regarding the design of a firm's strategy-evaluation system?

Accepted Answer

A)  There is a one-size-fits-all system that works for all companies. 
B)  It does not need to take into account the organization's size. 
C)  The management style of a firm has no bearing on the design. 
D)  It should be determined based on the unique characteristics of a company. 
E)  There is one ideal system. 
A)  There is a one-size-fits-all system that works for all companies. 
B)  It does not need to take into account the organization's size. 
C)  The management style of a firm has no bearing on the design. 
D)  It should be determined based on the unique characteristics of a company. 
E)  There is one ideal system. D

Question 4

The accounting switch from GAAP to IFRS in the U.S. is going to cost businesses millions of dollars in fees and upgraded software systems and training.

Accepted Answer

A) True 
 B)False

Question 5

Corrective actions are almost always ________ except when external and internal factors have not significantly changed and the firm is progressing satisfactorily toward achieving stated objectives.

Accepted Answer

A)  unnecessary 
B)  needed 
C)  undesirable 
D)  prohibitively expensive 
E)  futile 
A)  unnecessary 
B)  needed 
C)  undesirable 
D)  prohibitively expensive 
E)  futile

Question 6

Criteria for evaluating strategies should be measurable and easily verifiable.

Accepted Answer

A) True 
 B)False

Question 7

Intuitive judgments are almost always involved in deriving quantitative criteria.

Accepted Answer

A) True 
 B)False

Question 8

What corrective actions might a firm take during strategy evaluation?

Accepted Answer

A)  Revise the business mission 
B)  Issue stock 
C)  Revise objectives 
D)  Sell a division 
E)  All of the above 
A)  Revise the business mission 
B)  Issue stock 
C)  Revise objectives 
D)  Sell a division 
E)  All of the above

Question 9

Corrective action in strategy evaluation is necessary to keep an organization on track toward achieving stated objectives.

Accepted Answer

A) True 
 B)False

Question 10

There is no one ideal strategy-evaluation system for all organizations.

Accepted Answer

A) True 
 B)False

Question 11

Strategists should try to cover all bases by planning for all possible contingencies.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following is NOT included in measuring organizational performance?

Accepted Answer

A)  Comparing results to competitors' expectations 
B)  Examining progress being made toward meeting stated objectives 
C)  Investigating deviations from plans 
D)  Evaluating individual performance 
E)  Comparing expected results to actual results 
A)  Comparing results to competitors' expectations 
B)  Examining progress being made toward meeting stated objectives 
C)  Investigating deviations from plans 
D)  Evaluating individual performance 
E)  Comparing expected results to actual results

Question 13

Public accounting firms usually avoid strategy-evaluation services.

Accepted Answer

A) True 
 B)False

Question 14

Discuss some of the reasons why strategy evaluation is becoming increasingly difficult with the passage of time.

Accepted Answer

Possible answers include:Domestic and wo

Question 15

All of the following are reasons strategy evaluation is more difficult today EXCEPT

Accepted Answer

A)  a dramatic increase in the environment's complexity. 
B)  the increasing number of variables. 
C)  the increase in the number of both domestic and world events affecting organizations. 
D)  the increasing time span for which planning can be done with any degree of certainty. 
E)  the rapid rate of obsolescence of even the best plans. 
A)  a dramatic increase in the environment's complexity. 
B)  the increasing number of variables. 
C)  the increase in the number of both domestic and world events affecting organizations. 
D)  the increasing time span for which planning can be done with any degree of certainty. 
E)  the rapid rate of obsolescence of even the best plans.

Question 16

The strategy-evaluation process should

Accepted Answer

A)  dominate decisions. 
B)  be complex. 
C)  be cumbersome. 
D)  foster mutual understanding and trust. 
E)  be restrictive. 
A)  dominate decisions. 
B)  be complex. 
C)  be cumbersome. 
D)  foster mutual understanding and trust. 
E)  be restrictive.

Question 17

International financial reporting standards (IFRS)comprise approximately ________ pages.

Accepted Answer

A)  1,000 
B)  5,000 
C)  10,000 
D)  25,000 
E)  100,000 
A)  1,000 
B)  5,000 
C)  10,000 
D)  25,000 
E)  100,000

Question 18

________ organizations require more elaborate and detailed strategy-evaluation systems than ________ ones because it is more difficult to coordinate efforts among different divisions and functional areas.

Accepted Answer

A)  Non-profit; for-profit 
B)  For-profit; non-profit 
C)  Large; small 
D)  Small; large 
E)  Foreign; domestic 
A)  Non-profit; for-profit 
B)  For-profit; non-profit 
C)  Large; small 
D)  Small; large 
E)  Foreign; domestic

Question 19

The U.S. Chamber of Commerce supports the change from GAAP to IFRS, saying it will help the U.S. compete in the world economy.

Accepted Answer

A) True 
 B)False

Question 20

In strategy evaluation, a revised IFE matrix should indicate how effective a firm's strategies have been in response to key opportunities and threats.

Accepted Answer

A) True 
 B)False

Contingency plans are alternative plans that can be put into effect if certain key events do not occur as expected.

According to researchers, all of the following encourage individuals to accept change EXCEPT

Which of the following is true regarding the design of a firm's strategy-evaluation system?

The accounting switch from GAAP to IFRS in the U.S. is going to cost businesses millions of dollars in fees and upgraded software systems and training.

Corrective actions are almost always ________ except when external and internal factors have not significantly changed and the firm is progressing satisfactorily toward achieving stated objectives.

Criteria for evaluating strategies should be measurable and easily verifiable.

Intuitive judgments are almost always involved in deriving quantitative criteria.

What corrective actions might a firm take during strategy evaluation?

Corrective action in strategy evaluation is necessary to keep an organization on track toward achieving stated objectives.

There is no one ideal strategy-evaluation system for all organizations.

Strategists should try to cover all bases by planning for all possible contingencies.

Which of the following is NOT included in measuring organizational performance?

Public accounting firms usually avoid strategy-evaluation services.

Discuss some of the reasons why strategy evaluation is becoming increasingly difficult with the passage of time.

All of the following are reasons strategy evaluation is more difficult today EXCEPT

The strategy-evaluation process should

International financial reporting standards (IFRS)comprise approximately ________ pages.

organizations require more elaborate and detailed strategy-evaluation systems than ones because it is more difficult to coordinate efforts among different divisions and functional areas.

The U.S. Chamber of Commerce supports the change from GAAP to IFRS, saying it will help the U.S. compete in the world economy.

In strategy evaluation, a revised IFE matrix should indicate how effective a firm's strategies have been in response to key opportunities and threats.

The Nature of Strategic Management

The Business Vision and Mission

The External Assessment

The Internal Assessment

Strategies in Action

Strategy Analysis and Choice

Implementing Strategies: Management and Operations Issues

Implementing Strategies: Marketing, Finance/Accounting, R&D, and MIS Issues

Business Ethics, Social Responsibility, and Environmental Sustainability

Global and International Issues

Filters

Exam 9: Strategy Review, Evaluation, and Control

Contingency plans are alternative plans that can be put into effect if certain key events do not occur as expected.

According to researchers, all of the following encourage individuals to accept change EXCEPT

Which of the following is true regarding the design of a firm's strategy-evaluation system?

The accounting switch from GAAP to IFRS in the U.S. is going to cost businesses millions of dollars in fees and upgraded software systems and training.

Corrective actions are almost always ________ except when external and internal factors have not significantly changed and the firm is progressing satisfactorily toward achieving stated objectives.

Criteria for evaluating strategies should be measurable and easily verifiable.

Intuitive judgments are almost always involved in deriving quantitative criteria.

What corrective actions might a firm take during strategy evaluation?

Corrective action in strategy evaluation is necessary to keep an organization on track toward achieving stated objectives.

There is no one ideal strategy-evaluation system for all organizations.

Strategists should try to cover all bases by planning for all possible contingencies.

Which of the following is NOT included in measuring organizational performance?

Public accounting firms usually avoid strategy-evaluation services.

Discuss some of the reasons why strategy evaluation is becoming increasingly difficult with the passage of time.

All of the following are reasons strategy evaluation is more difficult today EXCEPT

The strategy-evaluation process should

International financial reporting standards (IFRS)comprise approximately ________ pages.

________ organizations require more elaborate and detailed strategy-evaluation systems than ________ ones because it is more difficult to coordinate efforts among different divisions and functional areas.

The U.S. Chamber of Commerce supports the change from GAAP to IFRS, saying it will help the U.S. compete in the world economy.

In strategy evaluation, a revised IFE matrix should indicate how effective a firm's strategies have been in response to key opportunities and threats.

The Nature of Strategic Management

The Business Vision and Mission

The External Assessment

The Internal Assessment

Strategies in Action

Strategy Analysis and Choice

Implementing Strategies: Management and Operations Issues

Implementing Strategies: Marketing, Finance/Accounting, R&D, and MIS Issues

Business Ethics, Social Responsibility, and Environmental Sustainability

Global and International Issues

Filters

organizations require more elaborate and detailed strategy-evaluation systems than ones because it is more difficult to coordinate efforts among different divisions and functional areas.