Strategic Management- Homework 4 (Raymond Rolle)

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Central State University *

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4795

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Business

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Feb 20, 2024

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docx

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4

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1 Name: Raymond Rolle Course: Strategic Management & Policy (BUS-4795-01) Professor: Dr. Thrash Title: Homework 4 Date: February 6 th , 2023 Due Date: February 11 th , 2023
2 Question 1.In what ways can having a celebrity CEO and a strong entrepreneurial orientation help or harm an organization? Answer: Having a celebrity CEO and a strong entrepreneurial orientation can bring many benefits to an organization, such as increased visibility, brand recognition, and a sense of excitement and innovation. However, it can also lead to harm if the celebrity CEO is not able to effectively manage the organization or if the entrepreneurial orientation leads to a lack of structure or stability. A celebrity CEO is someone who is already famous or well-known in society, often due to their success in another field such as entertainment or sports. Having a celebrity. People are more likely to recognize and trust a brand if it is associated with a celebrity, and this can lead to increased sales and profits. Additionally, a celebrity CEO can bring a sense of glamour and prestige to the organization, which can attract top talent and investors. 2. Explain each of the dimensions of the balanced scorecard framework. Answer: The dimensions of the balanced scorecard framework are financial, customer, internal business processes, and learning and growth. The balanced scorecard framework is a method for measuring and managing performance that is used by organizations to monitor their progress toward strategic objectives. It is based on the idea that organizations should focus on more than just financial performance, but also on customer satisfaction, employee satisfaction, and other intangible factors that can lead to long-term success. The financial dimension of the balanced scorecard focuses on financial performance, such as revenue, profits, and cash flow. This
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