Question 1

Business strategy concerns

Accepted Answer

A) strengthening the company's market position and building competitive advantage. 
B) ensuring consistency in strategic approach among the businesses of a diversified company. 
C) selecting a business model to use in pursuing business objectives. 
D) selecting a set of financial and strategic objectives for a particular line of business. 
E) choosing appropriate internal business processes for a specific line of business. 
A) strengthening the company's market position and building competitive advantage. 
B) ensuring consistency in strategic approach among the businesses of a diversified company. 
C) selecting a business model to use in pursuing business objectives. 
D) selecting a set of financial and strategic objectives for a particular line of business. 
E) choosing appropriate internal business processes for a specific line of business.

Question 2

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 on how employee job satisfaction can be improved 
D) Exerting the internal leadership needed to drive implementation forward 
E) Tying rewards and incentives directly to the achievement of performance objectives 
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 on how employee job satisfaction can be improved 
D) Exerting the internal leadership needed to drive implementation forward 
E) Tying rewards and incentives directly to the achievement of performance objectives

Question 3

Well-conceived visions are

Accepted Answer

A) vague and indefinite,to allow room for a company to change its direction. 
B) generic to many organizations. 
C) primarily consists of feel-good statements about the company's past history. 
D) innocuous one-sentence statements. 
E) a reference point for managers in making strategic decisions. 
A) vague and indefinite,to allow room for a company to change its direction. 
B) generic to many organizations. 
C) primarily consists of feel-good statements about the company's past history. 
D) innocuous one-sentence statements. 
E) a reference point for managers in making strategic decisions.

Question 4

The primary managerial purpose of setting objectives is to

Accepted Answer

A) ensure that deliberately vague language such as "reducing costs" and "becoming more efficient" is used to provide managers with more latitude in setting stretch objectives for the company. 
B) designate strategic outcomes as lagging indicators. 
C) balance the scorecard of financial and strategic objectives. 
D) designate financial outcomes as leading indicators. 
E) convert the strategic vision into specific performance targets. 
A) ensure that deliberately vague language such as "reducing costs" and "becoming more efficient" is used to provide managers with more latitude in setting stretch objectives for the company. 
B) designate strategic outcomes as lagging indicators. 
C) balance the scorecard of financial and strategic objectives. 
D) designate financial outcomes as leading indicators. 
E) convert the strategic vision into specific performance targets.

Question 5

A company's core values typically do not include such things as

Accepted Answer

A) entrepreneurial spirit,excellent customer service,and building shareholder value. 
B) giving back to the community,doing the right thing,and entrepreneurial spirit. 
C) fair treatment,integrity,ethical behavior,innovativeness,and teamwork. 
D) top-notch quality,superior customer service,social responsibility,and community citizenship. 
E) minimizing innovation,rewarding individuality,and setting financial performance targets. 
A) entrepreneurial spirit,excellent customer service,and building shareholder value. 
B) giving back to the community,doing the right thing,and entrepreneurial spirit. 
C) fair treatment,integrity,ethical behavior,innovativeness,and teamwork. 
D) top-notch quality,superior customer service,social responsibility,and community citizenship. 
E) minimizing innovation,rewarding individuality,and setting financial performance targets.

Question 6

Identify and briefly 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 7

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

Accepted Answer

A) True 
 B)False

Question 8

Operating strategies primarily entail

Accepted Answer

A) how best to implement and execute the company's different business-level strategies. 
B) how best to carry out the company's corporate strategy. 
C) how best to manage initiatives of strategic significance within each functional area. 
D) the specific plans for building competitive advantage in each major department and operating unit. 
E) what the firm's operating departments are doing and how they plan to unify the company's functional and business strategies. 
A) how best to implement and execute the company's different business-level strategies. 
B) how best to carry out the company's corporate strategy. 
C) how best to manage initiatives of strategic significance within each functional area. 
D) the specific plans for building competitive advantage in each major department and operating unit. 
E) what the firm's operating departments are doing and how they plan to unify the company's functional and business strategies.

Question 9

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

Accepted Answer

Crafting a strategy is a collaborative t

Question 10

A balanced scorecard for measuring company performance

Accepted Answer

A) entails putting equal emphasis on financial and strategic objectives. 
B) entails striking a balance between financial objectives and strategic objectives. 
C) balances the drive for profits with social responsibility obligations. 
D) prevents the drive for achieving strategic objectives from overwhelming the pursuit of financial objectives. 
E) entails creating a set of financial objectives balanced among profitability measures and liquidity measures. 
A) entails putting equal emphasis on financial and strategic objectives. 
B) entails striking a balance between financial objectives and strategic objectives. 
C) balances the drive for profits with social responsibility obligations. 
D) prevents the drive for achieving strategic objectives from overwhelming the pursuit of financial objectives. 
E) entails creating a set of financial objectives balanced among profitability measures and liquidity measures.

Question 11

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 12

A company's direction,objectives,and strategy

Accepted Answer

A) never have to be revisited,even if time pressures or internal conditions warrant. 
B) are set in stone as the end of the planning process. 
C) are primarily a now-and-then task. 
D) are insulated from disruptive changes that a company might experience in its external environment. 
E) are never final,as managing strategy is an on-going,dynamic process. 
A) never have to be revisited,even if time pressures or internal conditions warrant. 
B) are set in stone as the end of the planning process. 
C) are primarily a now-and-then task. 
D) are insulated from disruptive changes that a company might experience in its external environment. 
E) are never final,as managing strategy is an on-going,dynamic process.

Question 13

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

Accepted Answer

The five s

Question 14

Which one of the following is not one of the five stages of an ongoing,continuous strategic management process?

Accepted Answer

A) Developing a strategic vision of what the company's future direction and focus needs to be 
B) Developing a sustainable business model 
C) Crafting a strategy to advance the company along the path that management has charted and achieve its performance objectives 
D) Setting objectives to measure progress toward achieving the strategic vision 
E) Executing the chosen strategy efficiently and effectively 
A) Developing a strategic vision of what the company's future direction and focus needs to be 
B) Developing a sustainable business model 
C) Crafting a strategy to advance the company along the path that management has charted and achieve its performance objectives 
D) Setting objectives to measure progress toward achieving the strategic vision 
E) Executing the chosen strategy efficiently and effectively

Question 15

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 the company 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 the company 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 16

What is the difference between a mission statement and a strategic vision?

Accepted Answer

The defining characteristic of a well-co

Question 17

Crafting strategy requires

Accepted Answer

A) a collaborative effort that includes managers in various position at various organizational levels. 
B) executive management involvement only. 
C) participation by all employees. 
D) a collaborative effort between the CEO and board members only. 
E) All of these choices are correct. 
A) a collaborative effort that includes managers in various position at various organizational levels. 
B) executive management involvement only. 
C) participation by all employees. 
D) a collaborative effort between the CEO and board members only. 
E) All of these choices are correct.

Question 18

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) 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) 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 19

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

In contrast to strategic objectives,whic

Question 20

Identify and briefly explain three actions that top executives can take to help instill a spirit of high achievement into the corporate culture and mobilize organizational energy behind the drive for good strategy execution and operating excellence.

Accepted Answer

Each company manager has to think throug

Business strategy concerns

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

Well-conceived visions are

The primary managerial purpose of setting objectives is to

A company's core values typically do not include such things as

Identify and briefly 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.

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

Operating strategies primarily entail

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

A balanced scorecard for measuring company performance

A company's strategic vision concerns

A company's direction,objectives,and strategy

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

Which one of the following is not one of the five stages of an ongoing,continuous strategic management process?

Company objectives

What is the difference between a mission statement and a strategic vision?

Crafting strategy requires

The task of stitching together a strategy

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.

Identify and briefly explain three actions that top executives can take to help instill a spirit of high achievement into the corporate culture and mobilize organizational energy behind the drive for good strategy execution and operating excellence.

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 Executionanother Path to Competitive Advantage

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Exam 2: Strategy Formulation,execution,and Governance

Business strategy concerns

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

Well-conceived visions are

The primary managerial purpose of setting objectives is to

A company's core values typically do not include such things as

Identify and briefly 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.

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

Operating strategies primarily entail

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

A balanced scorecard for measuring company performance

A company's strategic vision concerns

A company's direction,objectives,and strategy

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

Which one of the following is not one of the five stages of an ongoing,continuous strategic management process?

Company objectives

What is the difference between a mission statement and a strategic vision?

Crafting strategy requires

The task of stitching together a strategy

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.

Identify and briefly explain three actions that top executives can take to help instill a spirit of high achievement into the corporate culture and mobilize organizational energy behind the drive for good strategy execution and operating excellence.

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 Executionanother Path to Competitive Advantage

Filters