18 Which of the following statements is/are true?Statement 1: Under Operational excellence strategy, companies strive to offer higher qualityproducts than rival companies.Statement 2: Budgets are usually prepared under the direction of the treasurer, who is themanager in charge of the accounting department.Statement 3: Centralization is the delegation of decision-making authority throughout anorganization. *Statement 3 onlyO statement 1 onlyO All statements are trueO All statements are falseO Statements 1 and 2

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Answered: Which of the following statements…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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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 position
21) It is the core executive team, CEO, COO, and CTO, that makes decisions on strategy. True or False? True False
An objective, logical, systematic approach for making major decisions in an organization is a way to describe the strategic-management process Select one: True False
Please write your answer in the form of report for these two theoretical questions. Your Report should have the proper structure: Introduction, Main Body and Conclusion. Your discussion for each question should be around 600-650 words. There is no right or wrong answer for these two theoretical questions. The academic reference is required for both questions. Note: If you fail to follow the above instructions, the penalty will apply. Please answer the following questions: a) Many academic scholars believed that‘The balanced scorecard (BSC) is the best strategic planning and management systembecause it takes non-financial measures into consideration.’ Required: Critically discuss the above statement with reference to academic literature. In your discussion, you should also refer to Kaplan and Norton BSC model (1992) below. Refer Screenshot b) ‘Investment appraisal techniques primarily meant to…
Which 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.
Why 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.
The concept of blink is defined as a person's ability to anticipate, and vision, maintain flexibility, thanks strategically, and work with others to initiate changes that will create a viable future for the organization, and is competitive advantage to the organization in this way
25) It is important to understand both the similarities and differences between the two matrix tools in order to better help manage complexity in large firms. Which of the following statements is false with regards to the BCG Matrix and the GE- Matrix? a) The GE- Mckinsey Matrix has nine cells, while the BCG matrix has four cells b) Market share is a reflection of competitive strength, while industry attractiveness is represented by market growth in the BCG Matrix c) Market share is more forward looking while competitive strength is more historical in its perspective d) The GE-McKinsey Matrix is a holistic and inclusive approach that aid in prioritizing resource allocation for businesses in a portfolio that would benefit the most
Subject: 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."
One of the differences between a Business strategy and a Digital strategy is that a business strategy is often a well-established long-term model. In contrast, a digital strategy is dynamic and adaptable. A. True B. False
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…
he strategic management process is a. a set of activities that will assure a temporary advantage and average returns for the firm. b. a decision-making activity concerned with a firm’s internal resources, capabilities, and competencies, independent of the conditions in its external environment. c. a process directed by top-management with input from other stakeholders that seeks to achieve above-average returns for investors through effective use of the organization’s resources. d. the full set of commitments, decisions, and actions required for the firm to achieve above-average returns and strategic competitiveness.

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