Exam 2: Leading the Process of Crafting and Executing Strategy

Briefly compare and contrast the role and responsibility of a company's CEO and the board of directors in the strategy-making, strategy-executing process.

According to the Balanced Scorecard depicted in Table 2.4, boosting internal cash flows for reinvestment purposes, such as R&D, is a financial objective, while new product introductions, reduction of product development cycle time, improving information technology, improving teamwork, and increases in returns on equity are all strategic objectives. -Strategy-making is

The benefit of a vivid, engaging, and convincing strategic vision is NOT its ability to

What a company's top executives are saying about where the company is headed long term with respect to its future product-market-customer-technology mix

A company's overall strategy

Which of the following is NOT an example of a financial objective?

Identify the key characteristics of a well-stated organizational objective.

In a single-business company, the strategy-making hierarchy consists of

A well-conceived strategic vision helps prepare a company for the future. True or false? Explain and justify your answer.

Which of the following is NOT the result of a well-conceived and communicated strategic vision?

Which of the following is NOT an accurate description of the task of crafting a company's strategy?

Which of the following are integral parts of the managerial process of crafting and executing strategy?

What are the duties of a company's board of directors in the strategy-making, strategy-executing process?

The primary difference between a company's mission statement and the company's strategic vision is that

Operating strategies are primarily concerned with

The task of stitching together a strategy

Which of the following most accurately describes the task of crafting a company's strategy?

Which of the following is NOT a characteristic of an effectively worded strategic vision statement?

When companies adopt the strategy-making and strategy-execution process, it requires they start by

Discuss the meaning of each of the following levels of strategy and indicate what level of management tends to take the lead responsibility for crafting the strategy at each of the four levels. a. corporate strategy b. business strategy c. functional-area strategy d. operating strategy