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Question
Unexpected events have little effect on short-term objectives, because short-term objectives are not changeable.
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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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
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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:
A. the CEO and the board of directors
B. the board of directors, CEO, and CFO
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D. only allowed to serve one term of four years
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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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B. Develop managerial role models.
C. Minimize training and indoctrination.
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B. controls; norms
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For businesses facing complex and turbulent business environments, which of the following is true?
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B. Traditional strategic controls are usually inappropriate.
C. Complacency about predetermined milestones can prevent adaptability.
D. Detailed plans are needed to maintain order.