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Question
Informational controls involve the balance and alignment of the culture, rewards, and boundaries of a firm.
Answer
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One of the following is not a type of risk that executives must address. Which is it?
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The three interrelated and principal activities of strategic management are: strategy analysis, strategy formulation, and strategy implementation.
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A soft trend is a projection based on measureable facts, events, or objects. It is something that will happen.
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B. align departments toward departmental goals
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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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B. financial strategic objective
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In contrast to the vision of an organization, its mission should:
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B. encompass both the purpose of the company as well as the basis of competition
C. encompass all the major rules and regulations of the corporate work force
D. be less detailed.
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Examples of __________ include: To be the happiest place on earth (Disneyland), and Restoring patients to full life (Medtronic).
A. vision statements
B. mission statements
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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
D. mission statements, vision statements, strategic objectives
Q:
Strategy formulation and implementation is a challenging ongoing process. To be effective, it should not involve:
A. the CEO and the board of directors
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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B. functional areas work together to attain overall goals
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Members of boards of directors are:
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B. elected by the shareholders as their representatives
C. elected by the public
D. only allowed to serve one term of four years
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__________ involves ensuring proper strategic controls and organizational designs.
A. Corporate governance
B. Corporate-level strategy
C. Strategy implementation
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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?
A. Hire people that identify with the dominant values of the organization.
B. Develop managerial role models.
C. Minimize training and indoctrination.
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Rules and regulations are examples of ______________ and _____________.
A. controls; behaviors
B. controls; norms
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As firms simultaneously downsize and face the need for increased coordination across organizational boundaries, a control system based primarily on ______________ is dysfunctional.
A. boundaries and constraints
B. culture and rewards
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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.