Exam 12: Strategy Implementation: Control and Performance

The second step in the value-driver-action implementation process requires managers to articulate desired statements from the point of view of stakeholders, such as "I'm really attracted by the look of the new BMWs."

According to the opening vignette for the chapter, McDonald's experienced business setbacks because

The final step in the value-driver-action implementation process is to ask every employee to state how his or her contributions have made the company better over the prior year.

The balanced scorecard implementation approach incorporates four different perspectives through which we might view a company to assess its performance. What are they?

A lag metric represents results that the company would expect to observe for each of the subdimensions in any one perspective of a balanced scorecard.

Name and describe four or five of the core responsibilities of strategic leadership.

Strategists using the McKinsey 7-S implementation framework identify strategy, structure, and systems as "soft" S's.

In the value-driver-action model, ________ are those elements of the organization that provide the company with the best opportunity for success in its industry.

Quantitative metrics may be numerically based or they may include things like descriptive statements made by customers.

Key value drivers in the value-driver-action model can be identified from

The soft S's in the McKinsey 7-S framework include style, superordinate goals (shared values), skills and

________ metrics represent the observable actions of employees that we hope will lead to the results we are ultimately trying to achieve.

The balanced scorecard model considers only the most important stakeholder - shareholders - in its definition of company performance.

Qualitative metrics are measures of success that are descriptive and relative rather than point-specific.

Stretch metrics are measures that are perceived by employees to be flexible and subject to change should targets not be met.

"Style" in the McKinsey 7-S framework refers to the symbolic behavior of the organization, and includes things like the company's dress code and the way employees treat each other.

________ metrics are measures that really push the organization to achieve something of true significance.