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Question
Identify at least three external control mechanisms. Discuss the role played by each of these.
Answer
Answers will vary.
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Fortune Brands states they will cut corporate overhead costs by $30 million a year. This is an example of a:
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In contrast to the vision of an organization, its mission should:
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C. encompass all the major rules and regulations of the corporate work force
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Examples of __________ include: To be the happiest place on earth (Disneyland), and Restoring patients to full life (Medtronic).
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The hierarchy of organizational goals is in this order (least specific to most specific):
A. vision statements, strategic objectives, mission statements
B. mission statements, strategic objectives, vision statements
C. vision statements, mission statements, strategic objectives
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Strategy formulation and implementation is a challenging ongoing process. To be effective, it should not involve:
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B. the board of directors, CEO, and CFO
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Many organizations have a large number of functional areas with very diverse and sometimes competing interests. Such organizations will be most effective if:
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Members of boards of directors are:
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B. elected by the shareholders as their representatives
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D. only allowed to serve one term of four years
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__________ involves ensuring proper strategic controls and organizational designs.
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B. Corporate-level strategy
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Objectives in organizations should be clear, stated, and known by employees throughout the organization.
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Strategic objectives should be measurable, specific, appropriate, and realistic, but not constrained by time deadlines.
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Most organizations with strong cultures and a sound system of rewards and incentives can eventually internalize boundaries rather than use explicit rules and regulations. Which of the following is not a technique for moving in that direction?
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Rules and regulations are examples of ______________ and _____________.
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For businesses facing complex and turbulent business environments, which of the following is true?
A. Goals and objectives that are uncertain prevent opportunism.
B. Traditional strategic controls are usually inappropriate.
C. Complacency about predetermined milestones can prevent adaptability.
D. Detailed plans are needed to maintain order.