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Question
__________ involves ensuring proper strategic controls and organizational designs.
A. Corporate governance
B. Corporate-level strategy
C. Strategy implementation
D. Business-level strategy
Answer
This answer is hidden. It contains 228 characters.
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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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Discuss the key elements of corporate governance.
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In large organizations, conflicts can arise between functional areas. In order to resolve these conflicts, strategic objectives:
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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:
A. be shorter in length
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.
Q:
Examples of __________ include: To be the happiest place on earth (Disneyland), and Restoring patients to full life (Medtronic).
A. vision statements
B. mission statements
C. strategic objectives
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Q:
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:
A. appointed by the Securities and Exchange Commission
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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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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A. Hire people that identify with the dominant values of the organization.
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A. controls; behaviors
B. controls; norms
C. boundaries; behaviors
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Effective short-term objectives should ______________ and _____________.
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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
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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.
Q:
Which of the following is the primary drawback of traditional strategic control systems?
A. They are only appropriate when the environment is stable and simple.
B. Goals and objectives cannot be measured with a high level of certainty.
C. They lead to complacency.
D. They lack the flexibility needed to adjust to changes in the environment.