Quiz

A company's objectives are typically established after a company decides on a strategic vision and strategy so that they will entail performance targets that truly signal business success. Select one: a. True  b. False Feedback The correct answer is: False Question 2 Correct Mark 1.00 out of 1.00 Flag question Question text A balanced scorecard for measuring company performance involves putting equal emphasis on the achievement of financial objectives, strategic objectives, and social responsibility objectives. Select one: a. True b. False  Feedback The correct answer is: False Question 3 Incorrect Mark 0.00 out of 1.00 Flag question Question text A company's strategic plan consists of a company's strategic vision, strategic objectives, strategic intent, and strategy. Select one: a. False b. True  Feedback The correct answer is: False Question 4 Correct Mark 1.00 out of 1.00 Flag question Question text A balanced scorecard for measuring company performance entails setting both financial and strategic objectives and putting balanced emphasis on their achievement. Select one: a. False b. True  Feedback The correct answer is: True Question 5 Incorrect Mark 0.00 out of 1.00 Flag question Question text Which of the following is not an element of a company's business strategy? Select one: a. Adhering to abandoned strategy elements. b. Actions to capture emerging market opportunities and defend against external threats to the company's business prospects. c. Actions to strengthen competitiveness via strategic alliances and collaborative partnerships. d. Actions and approaches used in managing R&D, production, sales and marketing, finance, and other key activities. e. Actions to enter new geographic or product markets.  Feedback The correct answer is: Actions to capture emerging market opportunities and defend against external threats to the company's business prospects. Question 6 Incorrect Mark 0.00 out of 1.00 Flag question Question text A company's strategic plan consists of the actions and market maneuvers it plans to use to achieve a sustainable competitive advantage. Select one: a. False b. True  Feedback The correct answer is: False Question 7 Incorrect Mark 0.00 out of 1.00 Flag question Question text A company's business model sets forth how its strategy and operating approaches diverge from its strategy. Select one: a. False  b. True Feedback The correct answer is: True Question 8 Incorrect Mark 0.00 out of 1.00 Flag question Question text Which of the following is not among the principal managerial tasks associated with managing the strategy execution process? Select one: a. Engaging the services of staffing firms to maintain the company's personnel data. b. Installing information and operating systems that enable company personnel to perform essential activities.  c. Exerting the internal leadership needed to drive implementation forward. d. Tying rewards and incentives directly to the achievement of performance objectives. e. Ensuring that policies and procedures facilitate rather than impede effective execution. Feedback The correct answer is: Engaging the services of staffing firms to maintain the company's personnel data. Question 9 Incorrect Mark 0.00 out of 1.00 Flag question Question text According to both the text discussion and the summary in Table 2.3, which of the following is not a common shortcoming of company vision statements? Select one: a. Too reliant on superlatives (best, most successful, recognized leader, global or worldwide leader, first choice of buyers).  Question 10 Incorrect Mark 0.00 out of 1.00 Flag question Question text The heart and soul of any strategy _______________ Select one: a. is its linkage with its business model.  b. deals with how management plans to maximize profits while, at the same time, operating in a socially responsible manner. c. is the actions and moves to gain a competitive edge over rivals in the marketplace. d. is its ability to increase shareholder value. e. is the day-to-day demands of delivering a service or producing goods to be sold. Feedback The correct answer is: deals with how management plans to maximize profits while, at the same time, operating in a socially responsible manner.