1) S1: A Strategy Map is a useful tool that graphically illustrates the cause-and-effect relationships and connects the Balanced Scorecard strategy with an organization’s operating activities. S2: In order for the balanced scorecard to succeed, the entire organization must be behind it.
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A: a. One should be able to infer an organization’s strategy from the balanced scorecard.
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1) S1: A Strategy Map is a useful tool that graphically illustrates the cause-and-effect relationships and connects the Balanced Scorecard strategy with an organization’s operating activities. S2: In order for the balanced scorecard to succeed, the entire organization must be behind it.
- Only S1 is correct
- Both statements are correct
- Both statements are incorrect
- Only S1 is incorrect
2) S1: To link measures to a strategy, they must be derived from management and be balanced. S2: The primary purpose of the balanced scorecard is obtaining increased operating profits for the current year.
- Both statements are incorrect
- Only S1 is correct
- Both statements are correct
- Only S1 is incorrect
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- Which of the following statements is true of a strategic goals? A)they Must be defined in Broad nonnumerical terms b)they must be easy to achieve c) they must encourage accountability and responsibility by illuminating the concept of deadlines d) they must tied directly to a firms competitive positionWhich of the following is NOT true of a good balanced scorecard? a. It identifies all measures, whether significant or small, that help to implement strategy. b. It uses nonfinancial measures to serve as leading indicators of future financial performance. c. It helps to communicate corporate strategy to all members of the organization. d. It tells the story of a company's strategy by articulating a sequence of cause-and-effect relationships.Anne Hathawayy is a data analyst at a marketing company who is responsible for providing support to the reporting functions of an internal management support system. Which of the following is not true regarding designing a management support system? -Do not be consistent with reports and visualizations -Clearly define objectives -Make it fast -Identify what upper management needs
- 1. Roger is telling Mary the first three steps in planning an organization. In the correct order, they are ____. Writing a mission statement, creating a vision statement, and strategic planning Strategic planning, creating a mission statement, and creating a vision statement Strategic planning, operational planning, and preparing a vision statement Tactical planning, operational planning, and writing a mission statement Operational planning, creating a mission statement, and developing a hiring plan.21) It is the core executive team, CEO, COO, and CTO, that makes decisions on strategy. True or False? True FalseOpportunities and threats are: a) identified as part of the firm's tactical planning process. b) factors that are external to the firm but can still affect its performance C) factors that are internal to the firm and those over which the firm has a great deal of control. d) dealt with primarily in a furm's operational planning process.
- Effective planning is not merely a static process but rather an ongoing and iterative cycle. It involves continuous monitoring and feedback loops that allow for adjustments and refinements as circumstances evolve. This iterative nature is essential for staying responsive to changes in the environment, whether those changes are internal or external to an organization or an individual's goals. Through regular reviews and assessments, planners can identify emerging trends, reassess priorities, and make necessary modifications to their plans. This iterative approach also promotes a learning culture, where insights gained from previous planning cycles inform future decisions. It allows for the incorporation of new information and experiences, enabling planners to adapt strategies in a dynamic and ever-changing landscape. In essence, the iterative nature of planning serves as a mechanism for resilience, enabling individuals and organizations to navigate uncertainties and pursue success with…The article presents a change formula (originally by David Gleicher):C = ƒ(ABD) > X Where:C = the needed changeA = dissatisfied with the status quoB = clear vision of the desired future stateD = practical first steps to the desired future state,X = the perceived cost of making the change. (In this context, “cost” is any negative financial, political, social, or emotional impact.) So, the idea (according to this formula) is that people make the needed changes, if the power of dissatisfaction with the status quo, clear vision of the desired future state & practical first steps to the desired future state can OUTWEIGHT the perceived cost of making the change. Write an essay, where you discuss the content of this formula, and your ideas on how to implement it successfully. Especially, concentrate on the following viewpoint: As a manager/leader, how could you promote the successful change management & change leadership based on this formula AT THE LEVEL OF THE INDIVIDUALS…In the Management in Action case, assume Amtrak’s CEO makes changes to the company’s operations and then reviews the resulting revenue. What step in the planning/control cycle would this represent? Multiple Choice Make the plan. Control the direction by comparing results with the plan. Control the direction by taking corrective action. Carry out the plan.
- The balanced scorecard is related to the strategy map in a way similar to howa. the value chain is related to product differentiation.b. SWOT analysis is related to execution.c. the organization’s key activities are related to the value chain.d. sustainability can be related to financial reportingWhy is consistency between strategic and tactical objectives important? a. Because they are develop simultaneously. b. Consistency is a key component of measurement. c. Consistency assures that tactics do not work against strategies. d. Because strategy naturally flows from tactics.Choose the best ans: Q: Which is not one of the common principles when implementing a balanced scorecard? Group of answer choices Align the organization to strategy. Make strategy a continual process. Place all the focus on bottom-line profit. Make strategy everyone's everyday job. Q: Customer satisfaction: Group of answer choices Is a function of how much the customer perceives they get from an exchange in relation to what they expected to get. Always guarantees profitability. Can be assumed if the company has a good record of quality. All of the above Q:If Hobby Lobby is trying to get more business by enhancing newspaper inserts and offering discounts for customers with a loyalty card, Hobby Lobby is focusing on which part of the marketing mix? Group of answer choices Product Price Promotion Place