Question 1

Which of the following is NOT a reason for the increasing difficulty of evaluating strategies?

Accepted Answer

A)  Product life cycles are longer. 
B)  Domestic and world economies are less stable. 
C)  Product development cycles are shorter. 
D)  Technological advancement is more rapid. 
E)  Change is occurring more frequently. 
A)  Product life cycles are longer. 
B)  Domestic and world economies are less stable. 
C)  Product development cycles are shorter. 
D)  Technological advancement is more rapid. 
E)  Change is occurring more frequently.

Question 2

Competitive advantages normally are the result of superiority in one of three areas: feasibility, consistency, or consonance.

Accepted Answer

A) True 
 B)False

Question 3

Yahoo was one of the firms most admired in its industry according to Fortune's 2012 evaluation.

Accepted Answer

A) True 
 B)False

Question 4

According to research, participation in strategy-evaluation activities is one of the best ways to overcome individuals' resistance to change.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is a corrective action a company might take to correct unfavorable variances?

Accepted Answer

A)  Divesting a division 
B)  Revising objectives 
C)  Raising capital with stock or debt 
D)  Allocating resources differently 
E)  All of the above 
A)  Divesting a division 
B)  Revising objectives 
C)  Raising capital with stock or debt 
D)  Allocating resources differently 
E)  All of the above

Question 6

Identify some characteristics of an effective evaluation system.

Accepted Answer

Strategy-evaluation activities must be e

Question 7

Measuring organizational performance requires making changes to reposition a firm competitively for the future.

Accepted Answer

A) True 
 B)False

Question 8

If you discover during the course of strategy evaluation that major changes have occurred in the firm's internal strategic position, you should

Accepted Answer

A)  continue on the present strategic course. 
B)  wait until the next quarter to see if things revert. 
C)  take corrective actions. 
D)  follow the original strategic plan. 
E)  none of the above 
A)  continue on the present strategic course. 
B)  wait until the next quarter to see if things revert. 
C)  take corrective actions. 
D)  follow the original strategic plan. 
E)  none of the above

Question 9

Quantitative criteria commonly used to evaluate strategies are

Accepted Answer

A)  cash budgets. 
B)  Balanced Scorecards. 
C)  Capital Asset Pricing Models. 
D)  financial ratios. 
E)  present value analyses. 
A)  cash budgets. 
B)  Balanced Scorecards. 
C)  Capital Asset Pricing Models. 
D)  financial ratios. 
E)  present value analyses.

Question 10

Describe each of the activities that comprise strategy evaluation.

Accepted Answer

The activities that comprise strategy ev

Question 11

Which of the following is NOT one of the four perspectives from which the Balanced Scorecard allows firms to evaluate strategies?

Accepted Answer

A)  Social responsibility 
B)  Financial performance 
C)  Customer knowledge 
D)  Internal business processes 
E)  Learning and growth 
A)  Social responsibility 
B)  Financial performance 
C)  Customer knowledge 
D)  Internal business processes 
E)  Learning and growth

Question 12

Competitive advantage normally is the result of superiority in resources, skills, or

Accepted Answer

A)  employees. 
B)  position. 
C)  consistency. 
D)  feasibility. 
E)  governance. 
A)  employees. 
B)  position. 
C)  consistency. 
D)  feasibility. 
E)  governance.

Question 13

The test of an effective evaluation system is its complexity.

Accepted Answer

A) True 
 B)False

Question 14

What has been shown to permit quick response to change, prevent panic in crisis situations, and make managers more adaptable?

Accepted Answer

A)  Auditing 
B)  Implementing a Balanced Scorecard 
C)  Contingency planning 
D)  Taking corrective actions 
E)  Measuring performance 
A)  Auditing 
B)  Implementing a Balanced Scorecard 
C)  Contingency planning 
D)  Taking corrective actions 
E)  Measuring performance

Question 15

Mintzberg's notion of "crafting" strategies

Accepted Answer

A)  is consistent with the view that strategic management is more a science than an art. 
B)  contends that firms need to assess their environments, do research, evaluate alternatives, analyze, and then choose a course of action. 
C)  suggests that strategic decision making be based primarily on holistic thinking, intuition, creativity, and imagination. 
D)  reject strategies that result from subjective imagination in favor of objective analysis. 
E)  insists on formality. 
A)  is consistent with the view that strategic management is more a science than an art. 
B)  contends that firms need to assess their environments, do research, evaluate alternatives, analyze, and then choose a course of action. 
C)  suggests that strategic decision making be based primarily on holistic thinking, intuition, creativity, and imagination. 
D)  reject strategies that result from subjective imagination in favor of objective analysis. 
E)  insists on formality.

Question 16

Most strategy literature advocates that strategic management is

Accepted Answer

A)  more of a science than an art. 
B)  more of an art than a science. 
C)  based on analysis rather than research. 
D)  based on intuition rather than analysis. 
E)  based on creativity rather than intuition. 
A)  more of a science than an art. 
B)  more of an art than a science. 
C)  based on analysis rather than research. 
D)  based on intuition rather than analysis. 
E)  based on creativity rather than intuition.

Question 17

Organizations should prepare contingency plans just for unfavorable events.

Accepted Answer

A) True 
 B)False

Question 18

Strategy-evaluation activities should ideally be performed

Accepted Answer

A)  just on a periodic basis. 
B)  only at the onset of a problem. 
C)  on a continuous basis. 
D)  solely upon completion of major projects. 
E)  annually only. 
A)  just on a periodic basis. 
B)  only at the onset of a problem. 
C)  on a continuous basis. 
D)  solely upon completion of major projects. 
E)  annually only.

Question 19

Taking corrective actions does not necessarily mean that existing strategies will be abandoned, or even that new strategies must be formulated.

Accepted Answer

A) True 
 B)False

Question 20

Increased education and diversity of the workforce at all levels are reasons why the top-down approach should be favored in organizations.

Accepted Answer

A) True 
 B)False

Which of the following is NOT a reason for the increasing difficulty of evaluating strategies?

Competitive advantages normally are the result of superiority in one of three areas: feasibility, consistency, or consonance.

Yahoo was one of the firms most admired in its industry according to Fortune's 2012 evaluation.

According to research, participation in strategy-evaluation activities is one of the best ways to overcome individuals' resistance to change.

Which of the following is a corrective action a company might take to correct unfavorable variances?

Identify some characteristics of an effective evaluation system.

Measuring organizational performance requires making changes to reposition a firm competitively for the future.

If you discover during the course of strategy evaluation that major changes have occurred in the firm's internal strategic position, you should

Quantitative criteria commonly used to evaluate strategies are

Describe each of the activities that comprise strategy evaluation.

Which of the following is NOT one of the four perspectives from which the Balanced Scorecard allows firms to evaluate strategies?

Competitive advantage normally is the result of superiority in resources, skills, or

The test of an effective evaluation system is its complexity.

What has been shown to permit quick response to change, prevent panic in crisis situations, and make managers more adaptable?

Mintzberg's notion of "crafting" strategies

Most strategy literature advocates that strategic management is

Organizations should prepare contingency plans just for unfavorable events.

Strategy-evaluation activities should ideally be performed

Taking corrective actions does not necessarily mean that existing strategies will be abandoned, or even that new strategies must be formulated.

Increased education and diversity of the workforce at all levels are reasons why the top-down approach should be favored in organizations.

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

Which of the following is NOT a reason for the increasing difficulty of evaluating strategies?

Competitive advantages normally are the result of superiority in one of three areas: feasibility, consistency, or consonance.

Yahoo was one of the firms most admired in its industry according to Fortune's 2012 evaluation.

According to research, participation in strategy-evaluation activities is one of the best ways to overcome individuals' resistance to change.

Which of the following is a corrective action a company might take to correct unfavorable variances?

Identify some characteristics of an effective evaluation system.

Measuring organizational performance requires making changes to reposition a firm competitively for the future.

If you discover during the course of strategy evaluation that major changes have occurred in the firm's internal strategic position, you should

Quantitative criteria commonly used to evaluate strategies are

Describe each of the activities that comprise strategy evaluation.

Which of the following is NOT one of the four perspectives from which the Balanced Scorecard allows firms to evaluate strategies?

Competitive advantage normally is the result of superiority in resources, skills, or

The test of an effective evaluation system is its complexity.

What has been shown to permit quick response to change, prevent panic in crisis situations, and make managers more adaptable?

Mintzberg's notion of "crafting" strategies

Most strategy literature advocates that strategic management is

Organizations should prepare contingency plans just for unfavorable events.

Strategy-evaluation activities should ideally be performed

Taking corrective actions does not necessarily mean that existing strategies will be abandoned, or even that new strategies must be formulated.

Increased education and diversity of the workforce at all levels are reasons why the top-down approach should be favored in organizations.

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