A) corporate strategy and a group of business strategies (one for each line of business the corporation has diversified into) .
B) corporate or managerial strategy,a set of business strategies,and divisional strategies within each business.
C) business strategies,functional strategies,and operating strategies.
D) corporate strategy,business strategies,functional strategies,and operating strategies.
E) its diversification strategy,its line of business strategies,and its operating strategies.
G) B) and C)
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The task of effectively conveying the vi...View Answer
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In their role as agents of shareholders,...View Answer
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Well-stated objectives must be specific,...View Answer
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A) identify the company's services and products.
B) specify the buyer's needs that the company seeks to satisfy.
C) identify the customer or market that the company intends to serve.
D) give the company its own identity.
E) explain "where we are headed."
G) C) and D)
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A) Increase revenues by more than the industry average.
B) Be among the top five companies in the industry in customer service.
C) Overtake key competitors on product performance or quality within three years.
D) Improve manufacturing performance by 5 percent within 12 months.
E) Obtain 150 new customers during the current fiscal year.
G) None of the above
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For a strategic vision to function as a ...View Answer
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A) put 100 percent emphasis on the achievement of its short-term and long-term financial objectives.
B) recognize that the achievement of strategic objectives signals that the company is well positioned to sustain or improve its performance.
C) substitute financial intent for strategic intent and judiciously concentrate on the mission of making a profit.
D) not allocate any resources to the achievement of strategic objectives until it is very clear that the company can meet or beat its stretch financial performance targets.
E) avoid use of the balanced-scorecard philosophy since achievement of financial performance targets is obviously more important than the achievement of strategic performance targets.
G) A) and E)
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The process of crafting and executing a ...View Answer
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A) a mission statement explains why it is essential to make a profit,whereas the strategic vision explains how the company will be a moneymaker.
B) a mission statement typically concerns a company's present business scope and purpose,whereas a strategic vision sets forth "where we are going and why."
C) a mission deals with how to please customers,whereas a strategic vision deals with how to please shareholders.
D) a mission statement deals with "where we are headed," whereas a strategic vision provides the critical answer to "how will we get there?"
E) a mission statement addresses "how we are trying to make a profit today," while a strategic vision concerns "how will we make money in the markets of tomorrow?"
G) All of the above
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A) Senior executives solidify their own view of the firm's long-term direction.
B) The risk of rudderless decision-making is minimized.
C) Organizational members support the changes internally that will help make the vision a reality.
D) The vision assists the organization in preparing for the future.
E) Stockholders protest that the business is rudderless.
G) A) and E)
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A) long-term direction and what product-market-customer mix seems optimal.
B) business model and the kind of value that it is trying to deliver to customers.
C) justification of why the business will be a moneymaker.
D) past and present scope of work.
E) long-term plan for outcompeting rivals and achieving a competitive advantage.
G) A) and B)
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A) clearly delineate how the company's business model will be implemented and executed.
B) clearly communicate management's aspirations for the company to stakeholders and help steer the energies of company personnel in a common direction.
C) set forth the firm budgetary objectives in clear and fairly precise terms.
D) help create a "balanced scorecard" approach to objective-setting and not stretch the company's resources too thin across different products,technologies,and geographic markets.
E) indicate what kind of sustainable competitive advantage the company will try to create in the course of becoming the industry leader.
G) All of the above
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A) Developing a strategic vision,setting objectives,and crafting a strategy
B) Developing a proven business model,deciding on the company's strategic intent,and crafting a strategy
C) Setting objectives,crafting a strategy,implementing and executing the chosen strategy,and deciding how much of the company's resources to employ in the pursuit of sustainable competitive advantage
D) Coming up with a statement of the company's mission and purpose,setting objectives,choosing what business approaches to employ,selecting a business model,and monitoring developments
E) Deciding on the company's strategic intent,setting financial objectives,crafting a strategy,and choosing what business approaches and operating practices to employ
G) None of the above
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A) Is the outlook for the company promising if it continues with its present product offerings?
B) Are changing market and competitive conditions acting to enhance or weaken the company's prospects?
C) What business approaches and operating practices should we consider in trying to implement and execute our business model?
D) What strategic course offers attractive opportunity for growth and profitability?
E) What,if any,new customer groups and/or geographic markets should the company get in position to serve?
G) B) and C)
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In diversified companies multiple and so...View Answer
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A) knowing when to replace poorly performing subordinates and when to do a better job of coaching them to do the right things.
B) being able to discern whether to promote better achievement of strategic performance targets or whether to promote better achievement of financial performance targets.
C) deciding when adjustments are needed and what adjustments to make.
D) having the analytic skills to separate the problems due to a bad strategy from the problems due to bad strategy execution.
E) deciding whether the company would be better off making adjustments that curtail the achievement of strategic objectives or that curtail the achievement of financial objectives.
G) A) and C)
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Ideally,the pieces of a company's strate...View Answer
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A) deciding what new businesses to enter,which existing businesses to get out of,and which existing business to remain in.
B) deciding how to build competitive advantage and improve performance in a particular line of business.
C) making sure the strategic intent of a particular business is in step with the company's overall strategic intent and strategy.
D) coordinating the competitive approaches of a company's different business units.
E) what business model to employ in each of the company's different businesses.
G) D) and E)
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Strategic vision:A strategic vision deli...View Answer
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