Question 1

Which of the following is NOT among the principal managerial tasks associated with managing the strategy execution process?

Accepted Answer

A)  ensuring that policies and procedures facilitate rather than impede effective execution 
B)  creating a company culture and work climate conducive to successful strategy implementation and execution 
C)  surveying employees' opinions on how costs can be reduced and how employee morale and job satisfaction can be improved 
D)  exerting the internal leadership needed to drive implementation forward and keep improving on how the strategy is being executed 
E)  motivating people and tying rewards and incentives directly to the achievement of performance objectives and good strategy execution 
A)  ensuring that policies and procedures facilitate rather than impede effective execution 
B)  creating a company culture and work climate conducive to successful strategy implementation and execution 
C)  surveying employees' opinions on how costs can be reduced and how employee morale and job satisfaction can be improved 
D)  exerting the internal leadership needed to drive implementation forward and keep improving on how the strategy is being executed 
E)  motivating people and tying rewards and incentives directly to the achievement of performance objectives and good strategy execution

Question 2

The faster a company's business environment is changing, the more critical it becomes for its managers to

Accepted Answer

A)  pay attention to early warnings of future change and be willing to experiment to establish a market position in the future. 
B)  determine whether the company has a balanced scorecard for judging its performance. 
C)  establish controls to monitor the impact of external changes appropriately and ensure the internal environment is maintained. 
D)  replicate and implement only those strategies that have worked for rivals. 
E)  determine what changes should be made to its customer value proposition. 
A)  pay attention to early warnings of future change and be willing to experiment to establish a market position in the future. 
B)  determine whether the company has a balanced scorecard for judging its performance. 
C)  establish controls to monitor the impact of external changes appropriately and ensure the internal environment is maintained. 
D)  replicate and implement only those strategies that have worked for rivals. 
E)  determine what changes should be made to its customer value proposition.

Question 3

Which of the following is the best example of a well-stated financial objective?

Accepted Answer

A)  Increase earnings per share by 15 percent annually. 
B)  Gradually boost market share from 10 percent to 15 percent over the next several years. 
C)  Achieve lower costs than any other industry competitor. 
D)  Boost revenues by a percentage margin greater than the industry average. 
E)  Maximize total company profits and return on investment. 
A)  Increase earnings per share by 15 percent annually. 
B)  Gradually boost market share from 10 percent to 15 percent over the next several years. 
C)  Achieve lower costs than any other industry competitor. 
D)  Boost revenues by a percentage margin greater than the industry average. 
E)  Maximize total company profits and return on investment.

Question 4

Why does an organization need both financial and strategic objectives?

Accepted Answer

Financial objectives communicate managem

Question 5

Functional-area strategies

Accepted Answer

A)  concern the actions, approaches, and practices to be employed in managing particular functions within a business. 
B)  specify what actions a company should take to resolve specific strategic issues and problems. 
C)  are normally crafted by operating-level managers. 
D)  are concerned with how to unify the firm's several different operating strategies into a cohesive whole. 
E)  are normally crafted by the company's CEO and other senior executives. 
A)  concern the actions, approaches, and practices to be employed in managing particular functions within a business. 
B)  specify what actions a company should take to resolve specific strategic issues and problems. 
C)  are normally crafted by operating-level managers. 
D)  are concerned with how to unify the firm's several different operating strategies into a cohesive whole. 
E)  are normally crafted by the company's CEO and other senior executives.

Question 6

The strategy-making, strategy-executing process is shaped by

Accepted Answer

A)  management's strategic vision, strategic and financial objectives, and strategy. 
B)  the decisions made by the compensation and audit committees of the board of directors. 
C)  external factors such as the industry's economic and competitive conditions and internal factors such as the company's collection of resources and capabilities. 
D)  the challenges of developing a sound business model. 
E)  top executives and the board of directors; very few managers below this level are involved in the process. 
A)  management's strategic vision, strategic and financial objectives, and strategy. 
B)  the decisions made by the compensation and audit committees of the board of directors. 
C)  external factors such as the industry's economic and competitive conditions and internal factors such as the company's collection of resources and capabilities. 
D)  the challenges of developing a sound business model. 
E)  top executives and the board of directors; very few managers below this level are involved in the process.

Question 7

Perhaps the most reliable way for a company to improve its financial performance over time is to

Accepted Answer

A)  put 100 percent emphasis on the achievement of its short-term and long-term financial objectives. 
B)  recognize that the achievement of strategic objectives signals that the company is well positioned to sustain or improve its performance. 
C)  substitute financial intent for strategic intent and judiciously concentrate on the mission of making a profit. 
D)  not allocate any resources to the achievement of strategic objectives until it is very clear that the company can meet or beat its stretch financial performance targets. 
E)  avoid use of the balanced-scorecard philosophy since achievement of financial performance targets is obviously more important than the achievement of strategic performance targets. 
A)  put 100 percent emphasis on the achievement of its short-term and long-term financial objectives. 
B)  recognize that the achievement of strategic objectives signals that the company is well positioned to sustain or improve its performance. 
C)  substitute financial intent for strategic intent and judiciously concentrate on the mission of making a profit. 
D)  not allocate any resources to the achievement of strategic objectives until it is very clear that the company can meet or beat its stretch financial performance targets. 
E)  avoid use of the balanced-scorecard philosophy since achievement of financial performance targets is obviously more important than the achievement of strategic performance targets.

Question 8

Which of the following is the best example of a well-stated strategic objective?

Accepted Answer

A)  Increase revenues by more than the industry average. 
B)  Be among the top five companies in the industry in customer service. 
C)  Overtake key competitors on product performance or quality within three years. 
D)  Improve manufacturing performance by 5 percent within 12 months. 
E)  Obtain 150 new customers during the current fiscal year. 
A)  Increase revenues by more than the industry average. 
B)  Be among the top five companies in the industry in customer service. 
C)  Overtake key competitors on product performance or quality within three years. 
D)  Improve manufacturing performance by 5 percent within 12 months. 
E)  Obtain 150 new customers during the current fiscal year.

Question 9

Explain why an organization needs a strategic vision. What purpose does a strategic vision serve?

Accepted Answer

Top management's views and conclusions a

Question 10

Which one of the following is NOT among the chief duties/responsibilities of a company's board of directors insofar as the strategy-making, strategy-executing process is concerned?

Accepted Answer

A)  hiring and firing senior-level executives and working with the company's chief strategic planning officer to improve the company's strategy when performance comes up short of expectations 
B)  being inquiring critics and exercising strong oversight over the company's direction, strategy, and business approaches 
C)  evaluating the caliber of senior executives' strategy-making/strategy-executing skills 
D)  instituting a compensation plan for top executives that rewards them for actions and results that serve stakeholders' interests, most especially those of shareholders 
E)  overseeing the company's financial accounting and financial reporting practices 
A)  hiring and firing senior-level executives and working with the company's chief strategic planning officer to improve the company's strategy when performance comes up short of expectations 
B)  being inquiring critics and exercising strong oversight over the company's direction, strategy, and business approaches 
C)  evaluating the caliber of senior executives' strategy-making/strategy-executing skills 
D)  instituting a compensation plan for top executives that rewards them for actions and results that serve stakeholders' interests, most especially those of shareholders 
E)  overseeing the company's financial accounting and financial reporting practices

Question 11

Identify and explain four actions that top executives can take that are key elements in directing organizational action and building capabilities behind the drive for good strategy execution to meet or beat performance targets.

Accepted Answer

Management's action agenda for executing

Question 12

Which of the following questions is NOT something that company managers should consider in choosing to pursue one strategic course or directional path versus another?

Accepted Answer

A)  Are changing market and competitive conditions acting to enhance or weaken the company's business outlook? 
B)  Is the company stretching its resources too thinly by trying to compete in too many markets or segments, some of which are unprofitable? 
C)  Will our present business generate sufficient growth and profitability in the years ahead to please shareholders? 
D)  What market opportunities should the company pursue and which ones should not be pursued? 
E)  Do we have a better business model than key rivals? 
A)  Are changing market and competitive conditions acting to enhance or weaken the company's business outlook? 
B)  Is the company stretching its resources too thinly by trying to compete in too many markets or segments, some of which are unprofitable? 
C)  Will our present business generate sufficient growth and profitability in the years ahead to please shareholders? 
D)  What market opportunities should the company pursue and which ones should not be pursued? 
E)  Do we have a better business model than key rivals?

Question 13

A company needs performance targets or objectives

Accepted Answer

A)  to help guide managers in deciding what strategic path to take in the event that a strategic inflection point is encountered. 
B)  because they give the company clear-cut strategic intent. 
C)  in order to unify the company's strategic vision and business model. 
D)  for its operations as a whole and also for each of its separate businesses, product lines, functional departments, and individual work units. 
E)  in order to prevent lower-level organizational units from establishing their own objectives. 
A)  to help guide managers in deciding what strategic path to take in the event that a strategic inflection point is encountered. 
B)  because they give the company clear-cut strategic intent. 
C)  in order to unify the company's strategic vision and business model. 
D)  for its operations as a whole and also for each of its separate businesses, product lines, functional departments, and individual work units. 
E)  in order to prevent lower-level organizational units from establishing their own objectives.

Question 14

Which of the following is an integral part of the managerial process of crafting and executing strategy?

Accepted Answer

A)  developing a proven business model 
B)  deciding how much of the company's resources to employ in the pursuit of sustainable competitive advantage 
C)  Strategic Management and using them as yardsticks for measuring the company's performance and progress 
D)  communicating the company's values and code of conduct to all employees 
E)  deciding on the company's strategic intent 
A)  developing a proven business model 
B)  deciding how much of the company's resources to employ in the pursuit of sustainable competitive advantage 
C)  Strategic Management and using them as yardsticks for measuring the company's performance and progress 
D)  communicating the company's values and code of conduct to all employees 
E)  deciding on the company's strategic intent

Question 15

Ali is a business unit head of a soap manufacturing company. Explain the strategy he could use to strengthen his market position and build a competitive advantage over his rivals. Differentiate between his strategy and a corporate strategy.

Accepted Answer

Business strategy is concerned with stre

Question 16

Business strategy, as distinct from corporate strategy, is chiefly concerned with

Accepted Answer

A)  deciding what new businesses to enter, which existing businesses to get out of, and which existing business to remain in. 
B)  deciding how to build competitive advantage and improve performance in a particular line of business. 
C)  making sure the strategic intent of a particular business is in step with the company's overall strategic intent and strategy. 
D)  coordinating the competitive approaches of a company's different business units. 
E)  what business model to employ in each of the company's different businesses. 
A)  deciding what new businesses to enter, which existing businesses to get out of, and which existing business to remain in. 
B)  deciding how to build competitive advantage and improve performance in a particular line of business. 
C)  making sure the strategic intent of a particular business is in step with the company's overall strategic intent and strategy. 
D)  coordinating the competitive approaches of a company's different business units. 
E)  what business model to employ in each of the company's different businesses.

Question 17

Company objectives

Accepted Answer

A)  are needed only in those areas directly related to a company's short-term and long-term financial strength. 
B)  need to be broken down into performance targets for separate businesses, product lines, functional departments, and individual work units. 
C)  play the important role of establishing the direction towards which an organization needs to be headed. 
D)  are important because they help guide managers in deciding what the company's strategic intent should be. 
E)  should support, but not conflict with, the performance targets of lower-level organizational units. 
A)  are needed only in those areas directly related to a company's short-term and long-term financial strength. 
B)  need to be broken down into performance targets for separate businesses, product lines, functional departments, and individual work units. 
C)  play the important role of establishing the direction towards which an organization needs to be headed. 
D)  are important because they help guide managers in deciding what the company's strategic intent should be. 
E)  should support, but not conflict with, the performance targets of lower-level organizational units.

Question 18

A "balanced scorecard" that includes both strategic and financial performance targets is a conceptually strong approach for judging a company's overall performance because

Accepted Answer

A)  it assists managers in putting roughly equal emphasis on short-term and long-term performance targets. 
B)  it entails putting equal emphasis on good strategy execution and good business model execution. 
C)  a balanced-scorecard approach pushes managers to avoid Strategic Management that reflect the results of past decisions and organizational activities. 
D)  financial performance measures are lagging indicators that reflect the results of past decisions and organizational activities, whereas strategic performance measures are leading indicators of a company's future financial performance and business prospects. 
E)  it forces managers to put equal emphasis on financial and strategic objectives. 
A)  it assists managers in putting roughly equal emphasis on short-term and long-term performance targets. 
B)  it entails putting equal emphasis on good strategy execution and good business model execution. 
C)  a balanced-scorecard approach pushes managers to avoid Strategic Management that reflect the results of past decisions and organizational activities. 
D)  financial performance measures are lagging indicators that reflect the results of past decisions and organizational activities, whereas strategic performance measures are leading indicators of a company's future financial performance and business prospects. 
E)  it forces managers to put equal emphasis on financial and strategic objectives.

Question 19

Strategic intent refers to a situation where a company

Accepted Answer

A)  commits to using a particular business model to make money. 
B)  decides to adopt a particular strategy. 
C)  relentlessly pursues an ambitious strategic objective. 
D)  commits to pursuing balanced-scorecard objectives. 
E)  changes its long-term direction and decides to pursue a newly adopted strategic vision. 
A)  commits to using a particular business model to make money. 
B)  decides to adopt a particular strategy. 
C)  relentlessly pursues an ambitious strategic objective. 
D)  commits to pursuing balanced-scorecard objectives. 
E)  changes its long-term direction and decides to pursue a newly adopted strategic vision.

Question 20

A company's strategic vision concerns

Accepted Answer

A)  management's storyline of how it intends to make a profit with the chosen strategy "who we are and what we do." 
B)  what future actions the enterprise will likely undertake to outmaneuver rivals and achieve a sustainable competitive advantage. 
C)  "who we are and what we do." 
D)  a company's directional path and future product-customer-market-technology focus. 
E)  why the company does certain things in trying to please its customers. 
A)  management's storyline of how it intends to make a profit with the chosen strategy "who we are and what we do." 
B)  what future actions the enterprise will likely undertake to outmaneuver rivals and achieve a sustainable competitive advantage. 
C)  "who we are and what we do." 
D)  a company's directional path and future product-customer-market-technology focus. 
E)  why the company does certain things in trying to please its customers.

Which of the following is NOT among the principal managerial tasks associated with managing the strategy execution process?

The faster a company's business environment is changing, the more critical it becomes for its managers to

Which of the following is the best example of a well-stated financial objective?

Why does an organization need both financial and strategic objectives?

Functional-area strategies

The strategy-making, strategy-executing process is shaped by

Perhaps the most reliable way for a company to improve its financial performance over time is to

Which of the following is the best example of a well-stated strategic objective?

Explain why an organization needs a strategic vision. What purpose does a strategic vision serve?

Which one of the following is NOT among the chief duties/responsibilities of a company's board of directors insofar as the strategy-making, strategy-executing process is concerned?

Identify and explain four actions that top executives can take that are key elements in directing organizational action and building capabilities behind the drive for good strategy execution to meet or beat performance targets.

Which of the following questions is NOT something that company managers should consider in choosing to pursue one strategic course or directional path versus another?

A company needs performance targets or objectives

Which of the following is an integral part of the managerial process of crafting and executing strategy?

Ali is a business unit head of a soap manufacturing company. Explain the strategy he could use to strengthen his market position and build a competitive advantage over his rivals. Differentiate between his strategy and a corporate strategy.

Business strategy, as distinct from corporate strategy, is chiefly concerned with

Company objectives

A "balanced scorecard" that includes both strategic and financial performance targets is a conceptually strong approach for judging a company's overall performance because

Strategic intent refers to a situation where a company

A company's strategic vision concerns

What Is Strategy and Why Is It Important

Evaluating a Companys External Environment

Evaluating a Companys Resources and Competitive Position

The Five Generic Competitive Strategies: Which One to Employ

Supplementing the Chosen Competitive Strategy: Other Important Business Strategy Choices

Strategies for Competing in Foreign Markets

Diversification: Strategies for Managing a Group of Businesses

Ethical Business Strategies, Social Responsibility, and Environmental Sustainabil ITY

Building an Organization Capable of Good Strategy Execution

Managing Internal Operations: Actions That Promote Good Strategy Execution

Corporate Culture and Leadership: Keys to Good Strategy Execution

Filters

Exam 2: Leading the Process of Crafting and Executing Strategy

Which of the following is NOT among the principal managerial tasks associated with managing the strategy execution process?

The faster a company's business environment is changing, the more critical it becomes for its managers to

Which of the following is the best example of a well-stated financial objective?

Why does an organization need both financial and strategic objectives?

Functional-area strategies

The strategy-making, strategy-executing process is shaped by

Perhaps the most reliable way for a company to improve its financial performance over time is to

Which of the following is the best example of a well-stated strategic objective?

Explain why an organization needs a strategic vision. What purpose does a strategic vision serve?

Which one of the following is NOT among the chief duties/responsibilities of a company's board of directors insofar as the strategy-making, strategy-executing process is concerned?

Identify and explain four actions that top executives can take that are key elements in directing organizational action and building capabilities behind the drive for good strategy execution to meet or beat performance targets.

Which of the following questions is NOT something that company managers should consider in choosing to pursue one strategic course or directional path versus another?

A company needs performance targets or objectives

Which of the following is an integral part of the managerial process of crafting and executing strategy?

Ali is a business unit head of a soap manufacturing company. Explain the strategy he could use to strengthen his market position and build a competitive advantage over his rivals. Differentiate between his strategy and a corporate strategy.

Business strategy, as distinct from corporate strategy, is chiefly concerned with

Company objectives

A "balanced scorecard" that includes both strategic and financial performance targets is a conceptually strong approach for judging a company's overall performance because

Strategic intent refers to a situation where a company

A company's strategic vision concerns

What Is Strategy and Why Is It Important

Evaluating a Companys External Environment

Evaluating a Companys Resources and Competitive Position

The Five Generic Competitive Strategies: Which One to Employ

Supplementing the Chosen Competitive Strategy: Other Important Business Strategy Choices

Strategies for Competing in Foreign Markets

Diversification: Strategies for Managing a Group of Businesses

Ethical Business Strategies, Social Responsibility, and Environmental Sustainabil ITY

Building an Organization Capable of Good Strategy Execution

Managing Internal Operations: Actions That Promote Good Strategy Execution

Corporate Culture and Leadership: Keys to Good Strategy Execution

Filters