Strategic Management Theory & Cases: An Integrated Approach 13th Edition by Charles test bank

designing the organization's control and reward systems.

 
b. 
providing the number and kind of periodic reports that must be submitted by functional-level managers.

 
c. 
defining the goals and objectives of the organizations.

 
d. 
answering the question, "What is our business?"

 
e. 
eliminating the feedback loop.

 
ANSWER:  
a


 
51. Which of the following statements about the feedback loop in the context of strategy implementation is true?
 
a. 
It provides managers with input for the next round of strategy formulation and implementation.

 
b. 
It emerges within an organization without prior planning and in response to unforeseen circumstances.

 
c. 
It cannot reveal whether a business model is working.

 
d. 
It carries information from corporate-level managers to functional-level managers.

 
e. 
It indicates that the strategy implementation process has ended.

 
ANSWER:  
a


 
52. Which of the following statements about a SWOT analysis is true?
 
a. 
It does not encompass the analysis of an organization's external environment.

 
b. 
It essentially results in the generation of a single strategy that deals with one internal function of an organization.

 
c. 
It does not encompass functional-level strategies directed at improving the effectiveness of operations within a company.

 
d. 
It essentially produces strategies that are incongruent with each other.

 
e. 
It is a methodology for choosing between competing business models.

 
ANSWER:  
e


 
53. Dave’s Construction Company conducted a SWOT analysis which resulted in a need to implement business strategies that increase customer awareness and widen their customer base through better customer service to gain a competitive advantage in their industry.  Which of the following business strategies would this describe?
 
a. 
Functional-level strategies

 
b. 
Business-level strategies

 
c. 
Global strategies

 
d. 
Corporate-level strategies

 
e. 
None of the strategies are correct.

 
ANSWER:  
a


 
54. The scenario approach to strategic planning involves:
 
a. 
devising plans for coping with several different possible future states of the world.

 
b. 
designing the best organizational structure and the best culture and control systems to put a chosen strategy into action.

 
c. 
functional-level managers setting key corporate objectives.

 
d. 
anticipating the reoccurrence of problems that were previously encountered and designing solutions accordingly.

 
e. 
designing plans for problems that the company believes it will most certainly face in the immediate future. 

 
ANSWER:  
b


 
55. A company's mission:
 
a. 
describes the marketing strategies the company intends to use to sell its products. 

 
b. 
outlines the manner that employees and managers should conduct themselves.

 
c. 
defines how strategies will be developed and goals achieved.

 
d. 
describes what the company does.

 
e. 
describes the benefits offered to the shareholders.

 
ANSWER:  
d


 
56. In a typical scenario planning exercise,:
 
a. 
managers entirely depend on employee feedback.

 
b. 
managers try to come up with alternative plans after a business model has failed.

 
c. 
managers formulate plans that are based on "what-if" scenarios that are about the future.

 
d. 
managers do a "postmortem" to understand what went wrong with a strategy.

 
e. 
corporate-level managers set targets for functional-level managers.

 
ANSWER:  
c


 
57. Scenario planning is a technique for coping with the problem of: