Deck 14: Strategic Management

Question 1

SWOT is an acronym for:

A) stability, wealth, opportunistic, and timeliness.
B) strategies, work ethic, oppositions, and team.
C) strengths, weaknesses, opportunities, and threats.
D) strong, worthy, oppositional, and tactical.

Answer 1

strengths, weaknesses, opportunities, and threats.

Question 2

The guiding framework that describes the organization's purpose and future direction is the:

A) futuristic guidelines.
B) mission and vision.
C) strategic plan.
D) core purpose.

Answer 2

mission and vision.

Question 3

Answering questions such as "What business are we in?" and "What business do we want to be in?" can lead the organization to define the:

A) mission.
B) objectives.
C) core purpose.
D) strategic plan.

Answer 3

core purpose.

Question 4

Objectives are:

A) bylaws used to govern the organization.
B) financial minimums needed to operate.
C) performance-based criteria for accreditation.
D) targets that the organization wants to achieve.

Question 5

The 2011 Future of Nursing report published by the Institute of Medicine (IOM), calls for:

A) an improved educational system that promotes seamless academic progression.
B) the baccalaureate in nursing to be established as the minimal educational level for entry into practice.
C) the master's degree to be established as the minimal requirement for a leadership position in nursing.
D) increased participation in leadership among nurses.

Question 6

Addressing the strategic planning process questions involves considering environmental factors. An example of an external environmental factor to be considered is:

A) financial factors.
B) human resources.
C) political climate.
D) organizational culture.

Question 7

The concept of strategic management includes strategic planning and the implementation of:

A) core values.
B) strategy.
C) tactics.
D) objectives.

Question 8

A nurse manager enjoys implementing new programs and beginning new projects. She is beginning to find herself overwhelmed and needs to decrease her workload. Which of the following ideas might best help decrease her workload?

A) Comparing her vision with that of the institution
B) Following the strategic objectives and mission of the hospital
C) Reviewing the action plan and vision of the hospital system
D) Using her intuition to determine which project should continue

Question 9

Part of the evaluation design process when developing a strategic plan includes:

A) delineation of measures of success.
B) designing a form to critique the guidelines.
C) formulating an implementation outline.
D) writing the vision and mission statement.

Question 10

Characteristics of strategic management include: (Select all that apply.)

A) alignment with the external environment.
B) helps identify best practices on the nursing unit.
C) future orientation.
D) engagement of the entire workforce in organizational leadership.
E) use of change management strategies to achieve performance goals.
F) facilitation of decision making with well-communicated decisions.

Question 11

The statement, "We will provide high-quality care and services to our patients. We are committed to maintaining excellence, respect, and integrity in all aspects of our operations and our professional and business conduct," is an example of:

A) a mission statement.
B) the core values of an organization.
C) a strategic plan.
D) the core purpose of an organization.

Question 12

A new cancer center is being built in the local hospital. A patient survey has revealed that patients are not certain which caregiver is the registered nurse (RN) during their hospital stay. A group is formed to recommend methods to help patients identify which caregiver is their RN for the new cancer center. Which of the following groups best represents those who should be involved in forming recommendations?

A) Chief medical officer, public relations vice president, and human resources
B) Oncology clinical nurse specialist, nurse's aides, and RNs
C) Physicians, unit secretaries, and vice president of finance
D) Vice president of nursing, decentralized pharmacist, and licensed practical/vocational (LPN/LVN) nurses

Question 13

Strategic management, long used in business to ensure a competitive advantage over similar enterprises, involves: (Select all that apply.)

A) setting targets.
B) establishing goals.
C) evaluating success.
D) developing an action plan.
E) defining the core purpose.
F) conducting an environmental scan.

Question 14

The statement, "We will increase our profit by 8% each year," is an example of a(n):

A) strategic plan.
B) mission statement.
C) organization objective.
D) implementation strategy.

Question 15

A hospital with a large surgery department is concerned about surgeons starting their own surgical centers. In relation to the environmental assessment process, this is an example of:

A) an economic monopoly.
B) an external threat.
C) marketplace competition.
D) political strength.

Question 16

A highly respected staff RN on the medical-surgical unit has volunteered to be the champion for the implementation of a new nursing protocol. What does champion mean in this situation? The staff nurse will:

A) accept an award on behalf of her unit regarding this protocol.
B) display a winning attitude in support of the new protocol.
C) educate others in continuous quality improvement protocols.
D) passionately commit to the implementation of the process and inspire others.

Question 17

Operational choices for action that are made to implement a strategy are called:

A) tactics.
B) objectives.
C) core values.
D) strategic plans.

Question 18

The purpose of strategic management is to: (Select all that apply.)

A) ensure customer satisfaction.
B) establish a competitive position.
C) reach strategic objectives or goals.
D) develop the organizational mission.
E) provide a blueprint for operating a business.

Question 19

The first step of the strategic planning process is to:

A) develop strategic goals.
B) survey the environment.
C) implement the action plan.
D) formulate the organization's mission and vision.

Question 20

An action plan:

A) breaks a strategic plan into manageable parts.
B) details a futuristic view of the institution.
C) outlines the steps in performing a procedure.
D) provides a strategic plan for actualizing the mission.

Question 21

A competitive move or business approach designed to produce a successful outcome is called _______.

Question 22

A key component of the strategic planning process is to assess the environment. Place the steps of the assessment process in order:

A) Identify strengths and weaknesses internal to the organization.
B) Shape strategies into a strategic plan on which strategic management is based.
C) Establish priorities for the critical issues so that strategies are based on the priority issues.
D) Analyze strengths, weaknesses, opportunities, and threats for their impact on the organization.
E) Analyze internal components for the purpose of drafting a picture of the critical features of the organization.

Question 23

A(n) _____ is a two- to three-page synopsis of the strategic plan, written in language understandable by all potential readers.

Question 24

For organizational strategy to be implemented successfully it must be: (Select all that apply.)

A) specific and inflexible.
B) applied in a timely manner.
C) agreed upon by all stakeholders.
D) executed proficiently and efficiently.
E) aligned with the organizational culture.

Question 25

Strategic management is useful for nursing leaders and managers because it: (Select all that apply.)

A) helps identify best practices on the nursing unit.
B) rewards those who carry out strategy successfully.
C) can be used to set measurable, achievable goals and plans.
D) can be used to analyze the environment for opportunities and threats.
E) can help determine the future of the nursing area, such as a department or unit.

Question 26

In a written strategic plan, the _______ contains all the documentation related to the strategic planning process so that the reader obtains a sense of the background information used by the strategic planners in order to arrive at the strategic plan.

Question 27

Most strategic plans result in a written document. Strategic plan documents generally contain which of the following sections? (Select all that apply.)

A) Forward
B) Glossary
C) Goals and strategies
D) Executive summary
E) Mission, vision, and values