Chapter 2 QuizQuestion 11 / 1 pointWhich of the complying with are usual shortcomings of company vision statements? Qu

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Chapter 2 Quiz question 1 1 / 1 suggest which of the adhering to are typical shortcomings of agency vision statements? question options: 1 too broad, vague or incomplete, bland/uninspiring, no distinctive, and ) also reliant ~ above superlatives 2) 3) 4) 5) Unrealistic, unconventional, and unbusinesslike as well specific, too inflexible, and also can"t be accomplished in 5 years too broad, as well narrow, and also too risky no customer-driven, out-of-step through emerging technological trends, and too ambitious Questio 1 / 1 allude n2 A company needs power targets or objectives Question options: 1 for its operations as a totality and also for every of its separate ) businesses, product lines, sensible departments, and individual job-related units. 2) 3) due to the fact that they carry out parameters because that the company"s strategy map. in order come unify the company"s strategy vision and business model. 4 to aid guide managers in deciding what strategic path to take it in the ) event that a strategy inflection allude is encountered. 5) in bespeak to prevent lower-level business units from developing their own objectives. Questio 1 / 1 allude n3 which of the following is not among the primary managerial tasks associated with regulating the strategy execution process? question options: 1) Ensuring that policies and procedures facilitate fairly than impede effective execution 2 developing a company culture and work-related climate conducive to effective ) strategy implementation and also execution 3) Surveying employees on how employee project satisfaction deserve to be enhanced 4) Exerting the inner leadership essential to journey implementation forward 5) tying rewards and also incentives directly to the success of performance missions Questio 1 / 1 suggest n4 In a single-business company, the strategy-making hierarchy consists of question options: 1) 2) 3) 4) service strategy, divisional strategies, and departmental strategies. business strategy, functional strategies, and also operating strategies. business strategy and also operating strategy. managerial strategy, organization strategy, and also divisional strategies. 5) that company strategy, divisional strategies, and also departmental strategies. Inquiry 5 1/1 point A balanced scorecard that has both strategic and financial power targets is a conceptually solid approach because that judging a company"s overall performance due to the fact that Question options: gaue won performance procedures are lagging signs that reflect the 1 results of past decisions and also organizational activities whereas strategy ) performance actions are leading indicators of a company"s future gaue won performance. 2 it requires putting equal emphasis on great strategy execution and good ) organization model execution. a balanced scorecard technique pushes managers to avoid setup 3 goals that reflect the results of past decisions and organizational ) tasks and, instead, to set objectives that will certainly serve as leading indicators of a company"s future financial performance. 4 that assists supervisors in putting around equal emphasis on short-lived ) and long-term performance targets. 5 it an ext or less pressures managers to placed equal emphasis on financial and ) strategy objectives. Questio 1 / 1 allude n6 operation strategies worry Question options: 1 what the firm"s operating departments space doing come unify the company"s ) functional and business strategies. 2 the particular plans for building competitive benefit in each major ) department and also operating unit. 3 the relatively narrow strategic initiatives and approaches for managing ) key operating systems within a business and also for performing strategically far-reaching operating tasks. 4) 5) how best to bring out the company"s that company strategy. how finest to implement and execute the company"s different businesslevel strategies. Questio 1 / 1 allude n7 The difference between the principle of a company mission statement and the ide of a strategic vision is that inquiry options: 1 ) a mission explain typically concerns a company"s present service scope ("who we are and also what us do") vice versa, the principal issue of a strategic vision is with the company"s future service scope (long hatchet direction and also future product-customer-market-technology focus). 2 the mission is to make a profit, conversely, a strategic vision concerns how ) to tempt customers. 3 a mission statement faces what to accomplish on instead of of ) shareholders and a strategic vision concerns what to accomplish on instead of of customers. 4 a mission involves what to perform to attain short-run objectives and a ) strategic vision comes to what to do to accomplish long-run performance targets. 5 a mission statement encounters "where we are headed" conversely, a ) strategy vision gives the critical answer to "how will we acquire there." Questio 1 / 1 suggest n8 i beg your pardon of the complying with are characteristics of an efficiently worded strategic vision statement? inquiry options: 1) 2) 3) 4) 5) Graphic, directional, and also focused Challenging, competitive, and also "set in concrete" Balanced, responsible, and also rational Realistic, customer-focused, and also market-driven Achievable, profitable, and also ethical question 9 1 / 1 allude The strategic management procedure is shaped by question options: 1) management"s strategy vision, strategic and also financial objectives, and strategy. 2 the decisions made by the compensation and audit committees the the ) board of directors. 3 external factors such as the industry"s economic and competitive ) conditions and internal components such together the company"s arsenal of resources and capabilities. 4) a company"s customer value proposition and also profit formula. plot to strengthen competitive capabilities and also correct weaknesses, 5 actions come strengthen industry standing and also competitiveness by ) acquiring or merging with various other companies, and also actions to enter brand-new geographic or product markets. Concern 1 / 1 suggest 10 Which one of the complying with is not among the chief duties/responsibilities the a company"s board of director insofar as the strategy-making, strategy-executing process is concerned? question options: 1 Hiring and firing senior-level executives and also working with the ) company"s chief strategy planning officer to improve the company"s performance 2 ) gift inquiring critics and also exercising strong oversight end the company"s direction, strategy, and business ideologies 3) evaluating the caliber of senior executives" strategy-making/strategyexecuting an abilities 4 setting up a compensation arrangement for optimal executives the rewards them ) for actions and results that serve stakeholders" interests, and also most especially those of shareholders 5) Overseeing the company"s financial accounting and financial reporting methods inquiry 1 / 1 point 11 proficient strategy execution inquiry options: 1) is constantly the product of lot organizational learning. 2) is achieved unevenly, coming conveniently in some locations and much more slowly in others. 3) 4) involves vigilantly searching for ways to improve performance. is an continuous process, no an every-now-and-then task. 5) every one of these. concern 12 The strategy-making, strategy-executing procedure Question options: 1/1 point 1 is typically delegated come members of a company"s plank of directors so ) as no to infringe on the time of busy executives. 2 contains establishing a company"s mission, arising a organization ) model aimed at making the company an market leader, and crafting a strategy to implement and execute the service model. embraces the work of emerging a strategic vision, setting objectives, 3 crafting a strategy, implementing and also executing the strategy, and also then ) monitoring advances and initiating corrective adjustments in light of experience, transforming conditions, and brand-new opportunities. 4 is principally involved with sizing increase an organization"s internal and also ) exterior situation, so as to be all set for the difficulty of emerging a sound service model. 5 is mainly the duty of height executives and the board of ) directors; very few managers listed below this level space involved. Question 1 / 1 point 13 business strategy concerns Question options: 1) strengthening the company"s sector position and also building vain advantage. 2) ensuring consistency in strategic approach amongst the enterprise of a diversity company. 3) picking a company model to usage in pursuing business objectives. 4) picking a collection of financial and strategic objectives for a particular line of business. 5) choosing suitable internal organization processes for a particular line that business. concern 14 1/1 point Effectively interacting the strategy vision down the heat to lower-level managers and employees has actually the value of inquiry options: 1 not just explaining "where we are going and why" but, much more ) importantly, likewise inspiring and also energizing agency personnel to hold together to obtain the company moving in the intended direction. 2) helping firm personnel recognize why "making a profit" is therefore important. 3) making it simpler for height executives to set strategic objectives. 4 helping lower-level managers and employees better understand the ) company"s company model. 5) concern 1 / 1 allude 15 that company strategy concern options: every one of these. 1 is primarily pertained to with increase a company"s industry position ) and building vain advantage. 2 is topic to being adjusted much less frequently than one of two people a ) company"s goals or that is mission statement. 3) have to be based upon a functional strategic vision and mission. 4 guarantee consistency in strategy approach among businesses of a ) diversified, multibusiness corporation. 5) determines balanced scorecard financial and strategic objectives. Inquiry 1 / 1 allude 16 sensible strategies inquiry options: 1 point out what action a agency should require to resolve certain ) strategic issues and problems. 2 concerns the actions, approaches, and practices connected to particular ) functions or processes within a business. 3 are came to with how to unify the firm"s several different operating ) strategies into a cohesive whole. 4) are usually crafted by the company"s CEO and also other an elderly executives. 5) no one of these. inquiry 1 / 1 suggest 17 A company"s strategic setup consists of inquiry options: 1) its balanced scorecard and also its organization model. 2) a vision of where it is headed, a collection of power targets, and a strategy to accomplish them. 3) its strategy and also management"s specific, detailed plans for implementing it. 4) a company"s plans for boosting value-creating inner processes. 5) a strategic vision, a strategy, and also a organization model. Concern 18 1/1 point i m sorry of the following is one integral part of the managerial procedure of crafting and also executing strategy? concern options: 1) occurring a proven organization model 2 setup objectives and also using them together yardsticks because that measuring the ) company"s performance and progress 3 Deciding exactly how much the the company"s resources to rental in the ) quest of sustainable competitive advantage 4) connecting the company"s mission and purpose to every employees 5) Deciding top top the ingredient of the company"s board of directors question 1 / 1 suggest 19 A company"s worths relate come such things as question options: 1 just how it will balance its search of financial objectives against the pursuit ) that its strategic objectives. 2 exactly how it will balance the quest of its company purpose/mission against ) the search of its strategic vision. 3 fair treatment, integrity, honest behavior, innovativeness, teamwork, ) top-notch quality, superior customer service, social responsibility, and community citizenship. whether it will certainly emphasize share price evaluation or greater dividend 4 payments to shareholders, and whether it will put an ext emphasis top top ) the accomplishment of temporary performance targets or long-range power targets. 5) all of these inquiry 1 / 1 point 20 The responsibilities of one investor-owned company"s board of directors in the strategymaking, strategy-executing process include question options: 1 coming up with compelling strategy proposals to debate against those ) placed forward by top management. 2 taking the lead in formulating the company"s strategic setup but then ) delegating the task of implementing and executing the strategic plan to the company"s CEO and other senior executives. 3) taking the lead in developing the company"s service model and also strategic vision. 4 overseeing the company"s financial bookkeeping and financial reporting ) practices and evaluating the caliber of senior executives" strategymaking/strategy-executing skills. 5 approving the company"s operation strategies, functional-area ) strategies, business strategy, and also overall this firm strategy. Concern 1 / 1 point 21 The main roles/obligations the a company"s plank of directors in the strategymaking, strategy-executing procedure include inquiry options: 1 playing the lead function in creating the company"s strategy and also then ) directly supervising the efforts and also actions of senior executives in implementing and also executing the strategy. 2 offering guidance and counsel to the CEO in transferring out his/her ) duties as chief strategist and chief strategy implementer. overseeing the company"s financial accountancy and report practices, 3 assessing the caliber of an elderly executives" strategy-making and also ) strategy-executing skills, and also instituting a compensation plan that rewards height executives for outcomes that serve shareholder interests. 4 ) working closely with the CEO, an elderly executives, and the strategy planning staff to build a strategic plan for the company. reviewing and also approving the company"s organization model and likewise 5 reviewing and also approving the proposals and also recommendations the the ) CEO as to how come execute the organization model. Question 1 / 1 suggest 22 administration is obligated to monitor brand-new external developments, evaluate the company"s progress, and also make corrective adjustments in stimulate to question options: 1) recognize whether the company has a balanced scorecard for judging that performance. 2 decision whether to continue or readjust the company"s strategic vision, ) objectives, strategy and/or strategy execution methods. 3) determine what transforms should it is in made to its customer worth proposition. 4 determine whether the company"s service model is fine matched come ) an altering market and also competitive circumstances. 5) continue to be on track in achieve the company"s mission and strategic vision. Question 1 / 1 allude 23 A company"s values concern Question options: 1 ) whether and to what level it intends to operate in an ethical and also socially responsible manner. 2) how aggressively that will look for to maximize profits and also enforce high moral standards. 3 the beliefs and operating principles built into the company"s "balanced ) scorecard" for measuring performance. 4 the beliefs, traits, and also behavioral norms that firm personnel are ) supposed to display screen in conducting the company"s business and also pursuing its strategy vision and mission. 5 the beliefs, principles, and ethical requirements that are incorporated into ) the company"s strategy intent and business model. Concern 1 / 1 allude 24 Which among the adhering to is no a properties of an effectively worded strategic vision statement? question options: 1 Directional (is forward-looking, explains the strategy course the ) management has actually charted and also the kinds of product-market-customertechnology alters that will aid the firm prepare for the future) 2 easy to connect (is explainable in 10 to 15 minutes, deserve to be ) reduced to a memorable slogan) 3 graphic (paints a photo of the type of agency management is do the efforts ) to create and also the market position or location the agency is striving come stake out) 4 ) Consensus-driven (commits the firm to a "mainstream" directional route that most all stakeholders will enthusiastically support) 5 concentrated (is certain enough to provide guidance to managers in ) do decisions and allocating resources) question 1 / 1 allude 25 i m sorry of the complying with is no a typical shortcoming of firm vision statements? inquiry options: 1) 2) vague or incomplete-short on specifically, Focused and also narrow-exclusive come a particular direction 3) Bland or uninspiring 4 no distinctive-could apply to many any company (or at the very least several ) rather in the exact same industry) 5 also reliant top top superlatives (best, many successful, known leader, ) worldwide or worldwide leader, an initial choice the customers) question 1 / 1 point 26 Management"s strategy vision for an company Question options: 1 charts a strategic course because that the company ("where we are going") ) and also outlines the company"s future product-customer-markettechnology focus. 2 explains in relatively specific state the organization"s business model, ) strategy objectives, and also strategy. 3 spells out just how the agency will come to be a large moneymaker and boost ) shareholder value. 4 addresses the critical issue that "why our organization model needs to ) adjust and just how we arrangement to adjust it." 5 spells the end the organization"s strategic moves that will be undertaken to ) accomplish competitive advantage. Concern 1 / 1 allude 27 Strategic goals Question options: 1) are much more essential in achieve a company"s strategic vision than space financial objectives. 2) are usually less essential than jae won objectives. 3) space more complicated to achieve and harder to measure than financial objectives. 4) called to strengthening a company"s as whole market standing and also competitive vitality. 5) aid managers monitor an organization"s true progress better than execute financial objectives. question 28 1/1 allude Why must long-run goals take precedence over short-run objectives? question options: 1) focus is put on improving performance in the close to term. 2 Long-run missions are important for achieving permanent performance ) and also stand as a barrier to undue emphasis on short-lived results. 3) This will meet shareholder expectations because that progress. 4) This will force the agency to deliver performance development in the present period. 5) none of these. concern 1 / 1 allude 29 sensible strategies question options: 1) unify the company"s assorted operating-level strategies. 2 specify how to build and also strengthen the skills, expertise, and also ) competencies essential to execute operating-level techniques successfully. 3) support and add power come the corporate-level strategy. 4 include detail come the company"s business-level strategy and also specify what ) sources are essential to put the strategy into action.? 5) develop the chief aspects of the company"s strategy map. Question 1 / 1 suggest 30 The advantage of a vivid, engaging, and also convincing strategy vision is inquiry options: 1) its capacity to crystallize top management"s own view about the company"s irreversible direction. 2) it reduces the danger of rudderless decision make by supervisors at all levels the the organization. 3) it helps an company prepare because that the future. 4 its ability to unite company personnel behind managerial initiatives to obtain the ) agency moving in the intended direction. 5) every one of these are important benefits that an efficient strategic vision.