Question 1

The task of stitching together a strategy

Accepted Answer

A)  entails addressing a series of hows: how to grow the business,how to please customers,how to outcompete rivals,how to respond to changing market conditions,and how to achieve strategic and financial objectives. 
B)  is primarily an exercise in deciding which of several freshly emerging market opportunities to pursue. 
C)  is mainly an exercise that should be dictated by what is comfortable to management from a risk perspective and what is acceptable in terms of capital requirements. 
D)  requires trying to copy the strategies of industry leaders as closely as possible. 
E)  is mainly an exercise in good planning. 
A)  entails addressing a series of hows: how to grow the business,how to please customers,how to outcompete rivals,how to respond to changing market conditions,and how to achieve strategic and financial objectives. 
B)  is primarily an exercise in deciding which of several freshly emerging market opportunities to pursue. 
C)  is mainly an exercise that should be dictated by what is comfortable to management from a risk perspective and what is acceptable in terms of capital requirements. 
D)  requires trying to copy the strategies of industry leaders as closely as possible. 
E)  is mainly an exercise in good planning.

Question 2

A single-business company has three levels of strategy.Name and describe each level.

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Question 3

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

Accepted Answer

The answer of Explain why an organization needs a strategic...

Question 4

The benefit of a vivid,engaging,and convincing strategic vision is

Accepted Answer

A)  its ability to crystallize top management's own view about the company's long-term direction. 
B)  it reduces the risk of rudderless decision making by managers at all levels of the organization. 
C)  it helps an organization prepare for the future. 
D)  its ability to unite company personnel behind managerial efforts to get the company moving in the intended direction. 
E)  All of these are important benefits of an effective strategic vision. 
A)  its ability to crystallize top management's own view about the company's long-term direction. 
B)  it reduces the risk of rudderless decision making by managers at all levels of the organization. 
C)  it helps an organization prepare for the future. 
D)  its ability to unite company personnel behind managerial efforts to get the company moving in the intended direction. 
E)  All of these are important benefits of an effective strategic vision.

Question 5

A company's strategic vision concerns

Accepted Answer

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

Question 6

Company objectives

Accepted Answer

A)  are needed only on a companywide basis related to a company's short-term and long-term profitability. 
B)  need to be broken down into performance targets for each of its separate businesses,product lines,functional departments,and individual work units. 
C)  play the important role of establishing the direction in which it needs to be headed. 
D)  are important because they help guide managers in deciding what the company's strategy map should look like. 
E)  should be set in a manner that does not conflict with the performance targets of lower-level organizational units. 
A)  are needed only on a companywide basis related to a company's short-term and long-term profitability. 
B)  need to be broken down into performance targets for each of its separate businesses,product lines,functional departments,and individual work units. 
C)  play the important role of establishing the direction in which it needs to be headed. 
D)  are important because they help guide managers in deciding what the company's strategy map should look like. 
E)  should be set in a manner that does not conflict with the performance targets of lower-level organizational units.

Question 7

Explain why a company's strategy is really a collection of strategies.

Accepted Answer

The answer of Explain why a company's strategy is really...

Question 8

What are the five stages of the strategy-making,strategy-executing process and what does each one involve?

Accepted Answer

The answer of What are the five stages of the...

Question 9

A company needs financial objectives

Accepted Answer

A)  to overtake key competitors on such important measures as net profit margins and return on investment. 
B)  because without adequate profitability and financial strength,the company's ultimate survival is jeopardized. 
C)  to indicate to employees that financial objectives always take precedence over strategic objectives. 
D)  to convince shareholders that top management is acting in their interests. 
E)  to translate the company's business model into action items. 
A)  to overtake key competitors on such important measures as net profit margins and return on investment. 
B)  because without adequate profitability and financial strength,the company's ultimate survival is jeopardized. 
C)  to indicate to employees that financial objectives always take precedence over strategic objectives. 
D)  to convince shareholders that top management is acting in their interests. 
E)  to translate the company's business model into action items.

Question 10

Management is obligated to monitor new external developments,evaluate the company's progress,and make corrective adjustments in order to

Accepted Answer

A)  determine whether the company has a balanced scorecard for judging its performance. 
B)  decide whether to continue or change the company's strategic vision,objectives,strategy and/or strategy execution methods. 
C)  determine what changes should be made to its customer value proposition. 
D)  determine whether the company's business model is well matched to changing market and competitive circumstances. 
E)  stay on track in achieving the company's mission and strategic vision. 
A)  determine whether the company has a balanced scorecard for judging its performance. 
B)  decide whether to continue or change the company's strategic vision,objectives,strategy and/or strategy execution methods. 
C)  determine what changes should be made to its customer value proposition. 
D)  determine whether the company's business model is well matched to changing market and competitive circumstances. 
E)  stay on track in achieving the company's mission and strategic vision.

Question 11

A company's direction,objectives,and strategy

Accepted Answer

A)  have to be revisited any time internal conditions warrant. 
B)  are never final as it is an ongoing process. 
C)  are not a now-and-then task. 
D)  have to be revisited whenever a firm encounters disruptive changes in its environment. 
E)  All of these 
A)  have to be revisited any time internal conditions warrant. 
B)  are never final as it is an ongoing process. 
C)  are not a now-and-then task. 
D)  have to be revisited whenever a firm encounters disruptive changes in its environment. 
E)  All of these

Question 12

Which one of the following is not an accurate attribute of an organization's strategic vision?

Accepted Answer

A)  A clearly articulated view of "where we are going" 
B)  Describing the company's future product-customer-market-technology focus 
C)  Pointing an organization in a particular direction and charting a strategic path for it to follow 
D)  Providing managers with a reference point for making strategic decisions 
E)  Outlining how the company intends to implement and execute its business model 
A)  A clearly articulated view of "where we are going" 
B)  Describing the company's future product-customer-market-technology focus 
C)  Pointing an organization in a particular direction and charting a strategic path for it to follow 
D)  Providing managers with a reference point for making strategic decisions 
E)  Outlining how the company intends to implement and execute its business model

Question 13

What is the meaning of the term "balanced scorecard"? What are the merits of using a balanced scorecard in judging a company's performance?

Accepted Answer

The answer of What is the meaning of the term...

Question 14

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

Accepted Answer

A)  business strategy,divisional strategies,and departmental strategies. 
B)  business strategy,functional strategies,and operating strategies. 
C)  business strategy and operating strategy. 
D)  managerial strategy,business strategy,and divisional strategies. 
E)  corporate strategy,divisional strategies,and departmental strategies. 
A)  business strategy,divisional strategies,and departmental strategies. 
B)  business strategy,functional strategies,and operating strategies. 
C)  business strategy and operating strategy. 
D)  managerial strategy,business strategy,and divisional strategies. 
E)  corporate strategy,divisional strategies,and departmental strategies.

Question 15

The achievement of financial objectives tends to be a lagging indicator of a company's performance while the achievement of strategic objectives tends to be a leading indicator of a company's future financial performance.True or false? Support and explain your answer.

Accepted Answer

The answer of The achievement of financial objectives tends to...

Question 16

Operating strategies concern

Accepted Answer

A)  what the firm's operating departments are doing to unify the company's functional and business strategies. 
B)  the specific plans for building competitive advantage in each major department and operating unit. 
C)  the relatively narrow strategic initiatives and approaches for managing key operating units within a business and for performing strategically significant operating tasks. 
D)  how best to carry out the company's corporate strategy. 
E)  how best to implement and execute the company's different business-level strategies. 
A)  what the firm's operating departments are doing to unify the company's functional and business strategies. 
B)  the specific plans for building competitive advantage in each major department and operating unit. 
C)  the relatively narrow strategic initiatives and approaches for managing key operating units within a business and for performing strategically significant operating tasks. 
D)  how best to carry out the company's corporate strategy. 
E)  how best to implement and execute the company's different business-level strategies.

The task of stitching together a strategy

A single-business company has three levels of strategy.Name and describe each level.

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

The benefit of a vivid,engaging,and convincing strategic vision is

A company's strategic vision concerns

Company objectives

Explain why a company's strategy is really a collection of strategies.

What are the five stages of the strategy-making,strategy-executing process and what does each one involve?

A company needs financial objectives

Management is obligated to monitor new external developments,evaluate the company's progress,and make corrective adjustments in order to

A company's direction,objectives,and strategy

Which one of the following is not an accurate attribute of an organization's strategic vision?

What is the meaning of the term "balanced scorecard"? What are the merits of using a balanced scorecard in judging a company's performance?

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

The achievement of financial objectives tends to be a lagging indicator of a company's performance while the achievement of strategic objectives tends to be a leading indicator of a company's future financial performance.True or false? Support and explain your answer.

Operating strategies concern

Strategy, Business Models, and Competitive Advantage

Evaluating a Companys External Environment

Evaluating a Companys Resources, Capabilities, and Competitiveness

The Five Generic Competitive Strategies

Strengthening a Companys Competitive Position: Strategic Moves, Timing, and Scope of Operations

Strategies for Competing in International Markets

Corporate Strategy: Diversification and the Multibusiness Company

Ethics, Corporate Social Responsibility, Environmental Sustainability, and Strategy

Superior Strategy Execution-Another Path to Competitive Advantage

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Exam 2: Charting a Companys Direction: Vision and Mission, Objectives, and Strategy

The task of stitching together a strategy

A single-business company has three levels of strategy.Name and describe each level.

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

The benefit of a vivid,engaging,and convincing strategic vision is

A company's strategic vision concerns

Company objectives

Explain why a company's strategy is really a collection of strategies.

What are the five stages of the strategy-making,strategy-executing process and what does each one involve?

A company needs financial objectives

Management is obligated to monitor new external developments,evaluate the company's progress,and make corrective adjustments in order to

A company's direction,objectives,and strategy

Which one of the following is not an accurate attribute of an organization's strategic vision?

What is the meaning of the term "balanced scorecard"? What are the merits of using a balanced scorecard in judging a company's performance?

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

The achievement of financial objectives tends to be a lagging indicator of a company's performance while the achievement of strategic objectives tends to be a leading indicator of a company's future financial performance.True or false? Support and explain your answer.

Operating strategies concern

Strategy, Business Models, and Competitive Advantage

Evaluating a Companys External Environment

Evaluating a Companys Resources, Capabilities, and Competitiveness

The Five Generic Competitive Strategies

Strengthening a Companys Competitive Position: Strategic Moves, Timing, and Scope of Operations

Strategies for Competing in International Markets

Corporate Strategy: Diversification and the Multibusiness Company

Ethics, Corporate Social Responsibility, Environmental Sustainability, and Strategy

Superior Strategy Execution-Another Path to Competitive Advantage

Filters