“If it ain’t broke, don’t fix it” refers to managing by crisis.
Measuring organizational performance includes comparing expected results to actual
results, investigating deviations from plans, evaluating individual performance, and
examining progress being made toward meeting stated objectives.
Corrective action in strategy evaluation is necessary to keep an organization on track
toward achieving stated objectives.
Small organizations require a more elaborate and detailed strategy-evaluation system
because they are still evolving.
In developing an organizational chart, avoid having a particular person reporting to
more than one person above them in the chain of command.
A mission statement should be broad in scope, since concrete specification could be the
base for rallying opposition.
Criteria for evaluating strategies should be measurable and easily verifiable.
Who has mandated that every publicly held company in the United States must issue an
annual cash-flow statement in addition to the usual financial reports?
A) SEC
B) Congress
C) FCC
D) FASB
E) OPEC
Which of the following is not a published source of external strategic information?
A) periodicals
B) television programs
C) journals
D) reports
E) directories
Japan is suffering from a decline in overall economical production
A) due to its growing population.
B) related to the declining age of its workforce.
C) because of a surge in the number of its taxpaying workers.
D) since worker productivity increases are not able to offset declines in number of
workers.
E) because more and more women are working outside the home.
Which statement about business intelligence is accurate?
A) Intelligence gathering is an unethical business practice.
B) Running an intelligence program requires many people.
C) Running an intelligence program requires many computers and other resources.
D) Collecting intelligence about competitors violates antitrust laws.
E) Business intelligence is not equal to espionage.
Which of the following is NOT a pitfall an organization should avoid in strategic
planning?
A) Failing to communicate the plan to employees
B) Involving all managers rather than delegating planning to a “planner”
C) Top managers not actively supporting the strategic planning process
D) Doing strategic planning only to satisfy accreditation or regulatory requirements
E) Failing to create a collaborative climate supportive of change
A standardized set of behaviors used to manage anxieties is called a
A) folktale.
B) rite.
C) metaphor.
D) ritual.
E) value.
Which question(s) are answered in an effective mission statement?
A) Is the firm committed to growth and financial soundness?
B) Are employees a valuable asset of the firm?
C) Geographically, where does the firm compete?
D) Who are the firm’s customers?
E) All of the above
What level of bargaining power do consumers have when the products being purchased
are standard or undifferentiated?
A) Marginal
B) Low
C) High
D) Negative
E) Negligible
According to Roger Schroeder, which basic function within production/operations deals
with aggregate planning and scheduling?
A) Capacity
B) Inventory
C) Workforce
D) Transportation
E) Quality
Which term is best defined as a central management activity that allows for strategy
execution?
A) Avoidance
B) Furlough
C) Competition
D) Resource allocation
E) Conflict
An effective mission statement should do all of the following EXCEPT
A) include monetary amounts, numbers, percentages and ratios
B) be inspiring
C) reveal that the firm is environmentally responsible
D) identify the utility of a firm’s products
E) be reconciliatory
In developing a mission statement, arousing emotion
A) is not a benefit.
B) is futile.
C) is important.
D) should be avoided if possible.
E) is counterproductive.
Identify and describe three approaches for determining a business’ worth.
Discuss the do’s and don’ts in developing organizational charts.
Discuss how business ethics, social responsibility, and sustainability are interrelated.
Although there are many marketing variables that impact the success or failure of
strategy-implementation efforts, two variables are central to the process. What are these
variables? Discuss why they are so important.
List some guidelines for when market development would be a particularly good
strategy to pursue.
If you construct a SPACE Matrix and the directional vector points to the lower left
quadrant, what type of strategies would you recommend? Give several examples.
Compare and contrast restructuring and reengineering.
Identify some characteristics of an effective evaluation system.
Discuss the five steps involved in performing an IFE Matrix.
Using a Grand Strategy Matrix approach, what strategies are recommended for a firm
that is a weak competitor in a slow-growing market? Elaborate on what these strategies
could mean for a college or university.