Question 1

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 aspects 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 aspects of a company. 
E)  There is one ideal system.

Question 2

Yahoo was one of the world's most admired companies, according to Fortune's 2014 evaluation.

Accepted Answer

A) True 
 B)False

Question 3

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 4

What are the five steps for effective contingency planning according to Linneman and Chandran?

Accepted Answer

The suggested five-step process for effe

Question 5

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

Question 6

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 7

Evaluating strategies on a continuous rather than on a periodic basis allows benchmarks of progress to be established and more effectively monitored.

Accepted Answer

A) True 
 B)False

Question 8

Corrective action should do all of the following EXCEPT

Accepted Answer

A)  capitalize upon internal strengths. 
B)  avoid external opportunities. 
C)  avoid, reduce, or mitigate external threats. 
D)  improve internal weaknesses. 
E)  strengthen an organization's competitive position. 
A)  capitalize upon internal strengths. 
B)  avoid external opportunities. 
C)  avoid, reduce, or mitigate external threats. 
D)  improve internal weaknesses. 
E)  strengthen an organization's competitive position.

Question 9

What term is defined as "a systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between these assertions and established criteria, and communicating the results to interested users"?

Accepted Answer

A)  Auditing 
B)  Innovation 
C)  R&D 
D)  Strategic Management 
E)  Financial ratios 
A)  Auditing 
B)  Innovation 
C)  R&D 
D)  Strategic Management 
E)  Financial ratios

Question 10

Particular challenges or decisions that face all strategists today include

Accepted Answer

A)  deciding whether the process should be more an art or a science. 
B)  deciding whether strategies should be visible or hidden from stakeholders. 
C)  deciding whether the process should be more top-down or bottom-up in their firms. 
D)  all of the above 
E)  none of the above 
A)  deciding whether the process should be more an art or a science. 
B)  deciding whether strategies should be visible or hidden from stakeholders. 
C)  deciding whether the process should be more top-down or bottom-up in their firms. 
D)  all of the above 
E)  none of the above

Question 11

Financial ratios are rarely used as criteria to evaluate strategies.

Accepted Answer

A) True 
 B)False

Question 12

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 13

Changes in the organization's management, marketing, finance and accounting, production and operations, research and development (R&D), and management information systems (MIS) strengths and weaknesses should all be points of focus of a revised EFE Matrix in strategy evaluation.

Accepted Answer

A) True 
 B)False

Question 14

What is the cornerstone of effective strategy evaluation?

Accepted Answer

A)  Adequate and timely feedback 
B)  Quality and quantity of managers 
C)  Smaller ratio of top- to lower-level management 
D)  Evaluation preceding implementation stage 
E)  Punitive corrective actions 
A)  Adequate and timely feedback 
B)  Quality and quantity of managers 
C)  Smaller ratio of top- to lower-level management 
D)  Evaluation preceding implementation stage 
E)  Punitive corrective actions

Question 15

Public accounting firms usually avoid strategy-evaluation services.

Accepted Answer

A) True 
 B)False

Question 16

To enhance effectiveness, R. T. Lenz recommends keeping the strategic management process routine.

Accepted Answer

A) True 
 B)False

Question 17

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 18

Organizations should prepare contingency plans just for unfavorable events.

Accepted Answer

A) True 
 B)False

Question 19

Corrective actions are expected to

Accepted Answer

A)  strengthen an organization's competitive position in its industry. 
B)  streamline asset holdings. 
C)  have no risk. 
D)  involve abandoning existing strategies. 
E)  all of the above 
A)  strengthen an organization's competitive position in its industry. 
B)  streamline asset holdings. 
C)  have no risk. 
D)  involve abandoning existing strategies. 
E)  all of the above

Question 20

________ 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

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

Yahoo was one of the world's most admired companies, according to Fortune's 2014 evaluation.

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

What are the five steps for effective contingency planning according to Linneman and Chandran?

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

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

Evaluating strategies on a continuous rather than on a periodic basis allows benchmarks of progress to be established and more effectively monitored.

Corrective action should do all of the following EXCEPT

What term is defined as "a systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between these assertions and established criteria, and communicating the results to interested users"?

Particular challenges or decisions that face all strategists today include

Financial ratios are rarely used as criteria to evaluate strategies.

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

Changes in the organization's management, marketing, finance and accounting, production and operations, research and development (R&D), and management information systems (MIS) strengths and weaknesses should all be points of focus of a revised EFE Matrix in strategy evaluation.

What is the cornerstone of effective strategy evaluation?

Public accounting firms usually avoid strategy-evaluation services.

To enhance effectiveness, R. T. Lenz recommends keeping the strategic management process routine.

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.

Organizations should prepare contingency plans just for unfavorable events.

Corrective actions are expected to

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 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, Operations, and Human Resource Issues

Implementing Strategies: Marketing, Financeaccounting, Rd, 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 true regarding the design of a firm's strategy-evaluation system?

Yahoo was one of the world's most admired companies, according to Fortune's 2014 evaluation.

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

What are the five steps for effective contingency planning according to Linneman and Chandran?

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

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

Evaluating strategies on a continuous rather than on a periodic basis allows benchmarks of progress to be established and more effectively monitored.

Corrective action should do all of the following EXCEPT

What term is defined as "a systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between these assertions and established criteria, and communicating the results to interested users"?

Particular challenges or decisions that face all strategists today include

Financial ratios are rarely used as criteria to evaluate strategies.

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

Changes in the organization's management, marketing, finance and accounting, production and operations, research and development (R&D), and management information systems (MIS) strengths and weaknesses should all be points of focus of a revised EFE Matrix in strategy evaluation.

What is the cornerstone of effective strategy evaluation?

Public accounting firms usually avoid strategy-evaluation services.

To enhance effectiveness, R. T. Lenz recommends keeping the strategic management process routine.

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.

Organizations should prepare contingency plans just for unfavorable events.

Corrective actions are expected to

________ 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 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, Operations, and Human Resource Issues

Implementing Strategies: Marketing, Financeaccounting, Rd, 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.