The ________ management level performs ________ planning to determine the major goals of the organization. Select one: a. Lower, operational b. Middle, intermediate c. Top, strategic
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- This strategy evaluation and control technique contains a carefully chosen combination of strategic and financial objectives tailored to the company’s business. Its overall aim is to balance shareholders’ objectives with customer and operational objectives. a. SWOT Analysis b. Balanced Scorecard c. Quantitative Strategic Planning Matrix d. Internal-External (IE) MatrixSubject: Strategic management MCQ's Which of the following is NOT true of vision statements? a) A vision statement should reveal the type of business the firm engages. b) Vision statements should be written from a customer perspective. c) Vision statements should indicate the expected amounts of profits the firm wants to make. d) A vision statement should describe a desired future state. e) "The vision statement needs to be doable, but challenging."The a description of an organization's values, definition of its responsibilities to stakeholders, and identification of its major strategies is known as a:A)business-level strategy.B)business model.C)mission statement.D)balanced scorecard.E)None of the above.
- Which of the following is NOT a major element of the strategic management process? Select one: O a. Evaluating strategy and make necessary change O b. Put strategy in action c. Assigning administrative tasks O d. Analyzing the present positionStrategic management The strategy has its own "lingo" that we should know. Entry at least two words and include a definition +very short explanation Example: Strategy a detailed plan for achieving success in situations such as war, politics, business, industry, or sport, or the skill of planning for such situations. It means that is the activity we do while planning for something that where want to succeed.Strategic intent consists of an organization's values, mission, and vision; it informs an organization's decisions. Describe an example of how you have witnessed values that drive culture and an experience where it was clear that an organization either is or is not operating in a way that aligns with the mission (needs of key stakeholders). If you do not know the vision of your organization, look it up. Evaluate it using the guidelines provided by Walston.
- Which one of the following is NOT one of the five stages of an ongoing, continuous strategic management process? A) Forming a strategic vision of the company's future direction and focus B) Developing a profitable business model C) Crafting a strategy to achieve the objectives and get the company where it wants to go D) Setting objectives to measure progress toward achieving the strategic vision E) Implementing and executing the chosen strategy efficiently and effectively1.The description of how different levels and employees in the organization must perform for the organization to achieve its goals is a:A)business-level strategy.B)business model.C)mission statement.D)balanced scorecard.E)None of the above. 2.Which of the following statements regarding multiple measures or a single measure of performance is not correct?A)The advantage of using branch profits to evaluate branch mangers is that profit is relatively simple to compute and reflects the organization's ultimate goal.B)The use of multiple measures can influence branch managers' decisions by changing the components of the performance measurement system to reflect changes in the firm's strategy.C)If the branch managers are more knowledgeable than the corporate staff about local conditions and what local clients value, a single measure could be preferable.D)If the corporate office has better knowledge of what it requires to operate a profitable branch, using multiple measures provides a way to…Write two to four sentences setting forth the long-term direction and strategic path that management intends to follow. The statement should clearly articulate your answer to "Where we are headed?" and should explain why the direction in which you intend to point the company makes good business sense. Your strategic vision statement should describe the kind of company that management is trying to create and the market position you are trying to stake out. You may want to summarize the essence of your strategic vision with a phrase or company slogan.
- A company's strategy is developed to fit with the company's vision/mission and A) the company's technological capabilities. B) the company's business model. C) rivals' competitive actions. D) an analysis of the company's strategic situation. E) should emphasize ethics and social responsibility.٢١( Sometime companies resort to __________by reducing their investment to project a positive picture of the organization. However, this strategy cannot be used for long-term. Select one: a. No change strategy b. Profit strategy c. Pause and proceed with caution strategy d. Backward integration StrategyVision – is a more realistic overview of the company’s aim and ambition. Why does the company exist? What does it aim to achieve through its existence? Select one: True False