Developing Strategic Vision

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1.

Which one of the following is not one of the five basic tasks of the strategy-making, strategy-executing process? A. Forming a strategic vision of where the company needs to head and what its future business make-up will be B Setting objectives to convert the strategic vision into specific strategic and financial performance . outcomes for the company to achieve C. Crafting a strategy to achieve the objectives and get the company where it wants to go D. Developing a profitable business model E. Implementing and executing the chosen strategy efficiently and effectively

2.

Which of the following is an integral part of the managerial process of crafting and executing strategy? A. Developing a proven business model B. Deciding how much of the company's resources to employ in the pursuit of sustainable competitive advantage C. Setting objectives and using them as yardsticks for measuring the company's performance and progress D. Communicating the company's values and code of conduct to all employees E. Deciding on the company's strategic intent

3.

Which of the following are integral parts of the managerial process of crafting and executing strategy? 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 CSetting 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 DComing 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

4.

The strategy-making, strategy-executing process A. is usually delegated to members of a company's board of directors so as not to infringe on the time of busy executives. Bincludes establishing a company's mission, developing a business model aimed at making the company an . industry leader, and crafting a strategy to implement and execute the business model. C embraces the tasks of developing a strategic vision, setting objectives, crafting a strategy, implementing . and executing the strategy, and then monitoring developments and initiating corrective adjustments in light of experience, changing conditions, and new opportunities. D is principally concerned with sizing up an organization's internal and external situation, so as to be . prepared for the challenge of developing a sound business model. E. is primarily the responsibility of top executives and the board of directors; very few managers below this level are involved.

5.

A company's strategic vision concerns A. "who we are and what we do." B. why the company does certain things in trying to please its customers. C. management's storyline of how it intends to make a profit with the chosen strategy. D. a company's directional path and future product-market-customer-technology focus. E. what future actions the enterprise will likely undertake to outmaneuver rivals and achieve a sustainable competitive advantage.

6.

A company's strategic vision A. is management's story line for how it plans to implement and execute a profitable business model. B. sets forth what business the company is presently in and why it uses particular operating practices in trying to please customers. C delineates management's aspirations for the business, providing a panoramic view of "where we are . going" and a convincing rationale for why this makes good business sense. D. defines "who we are and what we do." Espells out a company's strategic intent, its strategic and financial...
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