Question 1

Identify some characteristics of an effective evaluation system.

Accepted Answer

Strategy-evaluation activities must be e...

Question 2

Increased education and diversity of the workforce at all levels are reasons why the top-down approach should be favored in organizations.

Accepted Answer

A) True 
 B)False

Question 3

Competitive advantages normally are the result of superiority in one of three areas: feasibility, consistency, or consonance.

Accepted Answer

A) True 
 B)False

Question 4

Yahoo was one of the firms most admired in its industry according to Fortune's 2012 evaluation.

Accepted Answer

A) True 
 B)False

Question 5

Taking corrective actions does not necessarily mean that existing strategies will be abandoned, or even that new strategies must be formulated.

Accepted Answer

A) True 
 B)False

Question 6

According to research, participation in strategy-evaluation activities is one of the best ways to overcome individuals' resistance to change.

Accepted Answer

A) True 
 B)False

Question 7

Organizations should prepare contingency plans just for unfavorable events.

Accepted Answer

A) True 
 B)False

Question 8

Competitive advantage normally is the result of superiority in resources, skills, or

Accepted Answer

A)   employees.
B)   position.
C)   consistency.
D)   feasibility.
E)   governance.F) A) and B)
G) A) and C)

Question 9

The test of an effective evaluation system is its complexity.

Accepted Answer

A) True 
 B)False

Question 10

Strategy-evaluation activities should ideally be performed

Accepted Answer

A)   just on a periodic basis.
B)   only at the onset of a problem.
C)   on a continuous basis.
D)   solely upon completion of major projects.
E)   annually only.F) A) and E)
G) A) and D)

Question 11

Which of the following is NOT a reason for the increasing difficulty of evaluating strategies?

Accepted Answer

A)   Product life cycles are longer.
B)   Domestic and world economies are less stable.
C)   Product development cycles are shorter.
D)   Technological advancement is more rapid.
E)   Change is occurring more frequently.F) A) and C)
G) D) and E)

Question 12

Measuring organizational performance requires making changes to reposition a firm competitively for the future.

Accepted Answer

A) True 
 B)False

Question 13

What has been shown to permit quick response to change, prevent panic in crisis situations, and make managers more adaptable?

Accepted Answer

A)   Auditing
B)   Implementing a Balanced Scorecard
C)   Contingency planning
D)   Taking corrective actions
E)   Measuring performanceF) C) and D)
G) All of the above

Question 14

Which of the following is a corrective action a company might take to correct unfavorable variances?

Accepted Answer

A)   Divesting a division
B)   Revising objectives
C)   Raising capital with stock or debt
D)   Allocating resources differently
E)   All of the aboveF) All of the above
G) B) and D)

Question 15

Most strategy literature advocates that strategic management is

Accepted Answer

A)   more of a science than an art.
B)   more of an art than a science.
C)   based on analysis rather than research.
D)   based on intuition rather than analysis.
E)   based on creativity rather than intuition.F) A) and B)
G) None of the above

Question 16

Quantitative criteria commonly used to evaluate strategies are

Accepted Answer

A)   cash budgets.
B)   Balanced Scorecards.
C)   Capital Asset Pricing Models.
D)   financial ratios.
E)   present value analyses.F) C) and D)
G) C) and E)

Question 17

Mintzberg's notion of "crafting" strategies

Accepted Answer

A)   is consistent with the view that strategic management is more a science than an art.
B)   contends that firms need to assess their environments, do research, evaluate alternatives, analyze, and then choose a course of action.
C)   suggests that strategic decision making be based primarily on holistic thinking, intuition, creativity, and imagination.
D)   reject strategies that result from subjective imagination in favor of objective analysis.
E)   insists on formality.F) All of the above
G) B) and E)

Question 18

Describe each of the activities that comprise strategy evaluation.

Accepted Answer

The activities that comprise strategy ev...

Question 19

Which of the following is NOT one of the four perspectives from which the Balanced Scorecard allows firms to evaluate strategies?

Accepted Answer

A)   Social responsibility
B)   Financial performance
C)   Customer knowledge
D)   Internal business processes
E)   Learning and growthF) A) and E)
G) C) and D)

Question 20

If you discover during the course of strategy evaluation that major changes have occurred in the firm's internal strategic position, you should

Accepted Answer

A)   continue on the present strategic course.
B)   wait until the next quarter to see if things revert.
C)   take corrective actions.
D)   follow the original strategic plan.
E)   none of the aboveF) A) and B)
G) C) and D)

Exam 9: Strategy Review, Evaluation, and Control

What has been shown to permit quick response to change, prevent panic in crisis situations, and make managers more adaptable?

Correct AnswerverifiedShow Answer

Most strategy literature advocates that strategic management is

Correct AnswerverifiedShow Answer

The test of an effective evaluation system is its complexity.

Correct AnswerverifiedShow Answer

Organizations should prepare contingency plans just for unfavorable events.

Correct AnswerverifiedShow Answer

Which of the following is a corrective action a company might take to correct unfavorable variances?

Correct AnswerverifiedShow Answer

Competitive advantages normally are the result of superiority in one of three areas: feasibility, consistency, or consonance.

Correct AnswerverifiedShow Answer

If you discover during the course of strategy evaluation that major changes have occurred in the firm's internal strategic position, you should

Correct AnswerverifiedShow Answer

Quantitative criteria commonly used to evaluate strategies are

Correct AnswerverifiedShow Answer

Strategy-evaluation activities should ideally be performed

Correct AnswerverifiedShow Answer

Describe each of the activities that comprise strategy evaluation.

Correct AnswerverifiedThe activities that comprise strategy ev...View AnswerShow Answer

Measuring organizational performance requires making changes to reposition a firm competitively for the future.

Correct AnswerverifiedShow Answer

Competitive advantage normally is the result of superiority in resources, skills, or

Correct AnswerverifiedShow Answer

Which of the following is NOT one of the four perspectives from which the Balanced Scorecard allows firms to evaluate strategies?

Correct AnswerverifiedShow Answer

Mintzberg's notion of "crafting" strategies

Correct AnswerverifiedShow Answer

Increased education and diversity of the workforce at all levels are reasons why the top-down approach should be favored in organizations.

Correct AnswerverifiedShow Answer

According to research, participation in strategy-evaluation activities is one of the best ways to overcome individuals' resistance to change.

Correct AnswerverifiedShow Answer

Which of the following is NOT a reason for the increasing difficulty of evaluating strategies?

Correct AnswerverifiedShow Answer

Identify some characteristics of an effective evaluation system.

Correct AnswerverifiedStrategy-evaluation activities must be e...View AnswerShow Answer

Taking corrective actions does not necessarily mean that existing strategies will be abandoned, or even that new strategies must be formulated.

Correct AnswerverifiedShow Answer

Yahoo was one of the firms most admired in its industry according to Fortune's 2012 evaluation.

Correct AnswerverifiedShow Answer

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The activities that comprise strategy ev...
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Strategy-evaluation activities must be e...
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