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Ideally, the pieces of a company's strat...View Answer
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A) ought to put "who we were and what we are doing" in writing rather than orally so as to leave no room for company personnel to misinterpret what the strategic vision really is.
B) should be done in language that inspires and motivates company personnel to unite behind executive efforts to get the company moving in the intended direction.
C) tends to be more effective when top management avoids trying to capture the essence of the strategic vision in a catchy slogan.
D) is most efficiently and effectively done by posting the strategic vision prominently on the company's website and encouraging employees to read it.
E) should be explained after the company's strategic intent, strategy, and business model have been conveyed to company personnel.
G) D) and E)
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A) is likely to weaken the achievement of its short-term and long-term financial objectives.
B) believes that the company's financial performance is not as important as it really is.
C) is generally not strongly focused on its true mission of making a profit.
D) is frequently in a better position to improve its future financial performance because of the increased competitiveness that flows from the achievement of strategic objectives.
E) is likely to be a weak financial performer because diverting resources to the pursuit of strategic objectives takes away from the achievement of financial performance targets.
G) A) and D)
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A) Who are we and what do we do?
B) What objectives and level of performance do we want to achieve?
C) Where are we going and what should our strategy be?
D) What approach should we take to achieve sustainable competitive advantage?
E) What business model should we employ to achieve our objectives and our vision?
G) D) and E)
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A) identify the company's services and products.
B) specify the buyer's needs that the company seeks to satisfy.
C) identify the customer or market that the company intends to serve.
D) give the company its own identity.
E) explain "where we are headed."
G) B) and C)
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B) False
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True
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A) know when to continue with the present corporate culture and when to shift to a different and better corporate culture.
B) ferret out the causes and decide when adjustments are needed and what adjustments are needed for improved performance and operating excellence.
C) figure out whether to arrive at decisions quickly or slowly in choosing among the various alternative adjustments.
D) decide whether to try to fix the problems of poor strategy execution or simply shift to a strategy that is easier to execute correctly.
E) decide how to identify the problems that need fixing.
G) A) and E)
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A) are more essential in achieving a company's strategic vision than are financial objectives.
B) relate to strengthening a company's overall market standing and competitive position.
C) are more difficult to achieve and harder to measure than financial objectives.
D) are generally less important than financial objectives.
E) help managers track an organization's true progress better than financial objectives.
G) A) and C)
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B
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For a strategic vision to function as a ...View Answer
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In diversified companies multiple and so...View Answer
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A) converting the strategic vision into specific performance targets-results and outcomes the organization wants to achieve.
B) using the objectives as yardsticks for tracking the company's progress and performance.
C) challenging and helping stretch the organization to perform at its full potential and deliver the best possible results.
D) pushing company personnel to be more inventive and to exhibit more urgency in improving the company's financial performance and business position.
E) delineating management's aspirations for the business and providing a panoramic view of "where we are going."
G) D) and E)
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E
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A) lays out how management plans to implement and execute a profitable business model.
B) describes what business the company is presently in and why it has chosen certain operating practices to meet the needs of customers.
C) serves as management's tool for giving the organization a sense of direction.
D) defines "who we are and what we do."
E) spells out a company's strategic intent, its strategic and financial objectives, and the business approaches and operating practices that will underpin its efforts to achieve sustainable competitive advantage.
G) A) and C)
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A) explaining "where we are going and why" and, more importantly, inspiring and energizing company personnel to unite to get the company moving in the intended direction.
B) helping company personnel understand why "making a profit" and "having a business plan" are so important.
C) making it easier for top executives to set and communicate the company's stretch objectives.
D) helping lower-level managers and employees better understand the company's business model.
E) aiding lower-level managers and employees in formulating and achieving a balanced scorecard.
G) None of the above
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Faulty oversight of corporate accounting...View Answer
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A) maps out the company's history.
B) links the company's financial targets to control mechanisms.
C) outlines the competitive moves and approaches to be used in achieving the desired business results.
D) focuses on offering a more appealing product than rivals.
E) lists methods of making money in its chosen business.
G) A) and E)
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A) widespread; unique
B) recurring; customary
C) distinctive; specific
D) customary; familiar
E) universal; established
G) A) and C)
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A) management crafts and adopts a strategic plan.
B) it relentlessly pursues an ambitious strategic objective, concentrating the full force of its resources and competitive actions on achieving that objective.
C) it aggressively pursues financial objectives, establishing a priority on meeting the performance metrics and instilling a sense of urgency throughout the company.
D) management establishes a comprehensive set of financial objectives that meet stockholder expectations.
E) it capitalizes on its primary competitive advantage and ensures resources are allocated to maintain its strategy.
G) C) and D)
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A) charts a strategic course for the organization ("where we are going") and provides a rationale for why this directional path makes good sense.
B) describes in fairly specific terms the organization's strategic objectives, and strategy.
C) spells out how the company will become a big moneymaker and boost shareholder value.
D) addresses the critical issue of "why our business model needs to change and how we plan to change it."
E) spells out the organization's strategic intent and the actions and moves that will be undertaken to achieve it.
G) A) and C)
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A) helping gain managerial consensus on what resources must be developed to successfully achieve strategic objectives.
B) uniting company personnel behind managerial efforts to get the company moving in the intended direction.
C) helping justify the company's mission of making a profit.
D) helping company personnel understand the logic of the company's business model.
E) keeping company personnel well-informed.
G) B) and E)
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A) Introduce five new products over the next ten years.
B) Reduce product development time by one third to half the current rate of 24 months.
C) Improve teamwork across business units by doubling the number of intra-company projects.
D) Boost internal cash flows by seven percent to fund new research and development activities.
E) Improve security and stability of information technology capabilities to prevent breaches and outages.
G) None of the above
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