A) put 100 percent emphasis on the achievement of its short-term and long-term financial objectives.
B) recognize that the achievement of strategic objectives signals that the company is well positioned to sustain or improve its performance.
C) substitute financial intent for strategic intent and judiciously concentrate on the mission of making a profit.
D) not allocate any resources to the achievement of strategic objectives until it is very clear that the company can meet or beat its stretch financial performance targets.
E) avoid use of the balanced-scorecard philosophy since achievement of financial performance targets is obviously more important than the achievement of strategic performance targets.
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A company's senior executives have lead ...View Answer
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A) is orchestrated by mid-level managers and focuses on how to create a competitive advantage in each specific line of business the total enterprise is in.
B) concerns how best to allocate resources across the departments of each line of business the company is in.
C) is orchestrated by senior corporate executives and centers around the kinds of initiatives the company uses to establish business positions in different industries.
D) deals chiefly with what the strategic intent of each of its business units should be.
E) involves how functional strategies should be aligned with business strategies in each of the various lines of business the company is in.
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A) strengthening the market position and building competitive advantage for a single line of business.
B) ensuring consistency in strategic approach among the businesses of a diversified company.
C) selecting a model for a single line of business to use in pursuing objectives that contribute to the whole of a diversified company.
D) selecting a set of stretch financial and strategic objectives for a single business unit.
E) choosing the most appropriate strategic intent for a specific line of business.
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A) mission concerns what to do to achieve short-term objectives, while a strategic vision concerns what to do to achieve long-term performance targets.
B) mission statement focuses on the methods needed to make a profit, whereas a strategic vision concerns what business model to employ in striving to make a profit.
C) mission statement deals with what to accomplish on behalf of shareholders, while a strategic vision concerns what to accomplish on behalf of customers.
D) mission statement typically concerns a company's purpose and its present business scope, whereas the principal concern of a strategic vision is a company's aspirations for its future.
E) mission statement deals with "where we are headed," whereas a strategic vision provides the critical answer to "how will we get there?"
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A) concern the actions, approaches, and practices to be employed in managing particular functions within a business.
B) specify what actions a company should take to resolve specific strategic issues and problems.
C) are normally crafted by operating-level managers.
D) are concerned with how to unify the firm's several different operating strategies into a cohesive whole.
E) are normally crafted by the company's CEO and other senior executives.
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See Illustration Capsule 2.4. The key fe...View Answer
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In single-business companies, the upperm...View Answer
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A) reducing the risks of rudderless decision making.
B) helping the organization prepare for the future.
C) avoiding strategic inflection points and management's reaction in aligning decision choices.
D) helping to crystallize top management's own view about the firm's long-term direction.
E) providing a tool for winning the support of organizational members for internal changes that will help make the vision a reality.
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A) corporate strategy and a group of business strategies (one for each line of business the corporation has diversified into) .
B) corporate or managerial strategy, a set of business strategies, and divisional strategies within each business.
C) business strategies, functional strategies, and operating strategies.
D) corporate strategy, business strategies, functional strategies, and operating strategies.
E) its diversification strategy, its line of business strategies, and its operating strategies.
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Well-stated objectives must be specific,...View Answer
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The balanced scorecard is a widely used ...View Answer
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A) remain well-informed about the company's performance and exercises its fiduciary duty to protect shareholders responsibly.
B) guide management in choosing a strategic direction and makes independent judgments about the validity and wisdom of management's proposed strategic actions.
C) evaluate the leadership skills of the CEO and other senior executives.
D) retain sufficient courage to curb management actions deemed inappropriate or unduly risky.
E) take responsibility for leading the strategy-making, strategy-executing process.
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A) too specific and too flexible.
B) unrealistic, unconventional, and unbusinesslike.
C) too broad, vague or incomplete, bland/uninspiring, not distinctive, and too reliant on superlatives.
D) too graphic, too narrow, and too risky.
E) not customer-driven, out of step with emerging technological trends, and too ambitious.
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A) exploring new concepts such as stores that are tailored to each community.
B) continuing to expand the brand globally through international expansion.
C) increasing total comparable sales, which includes comparable store sales and direct to consumer.
D) building a robust digital ecosystem with key investments in customer relationship management, analytics, and capabilities to elevate guest experience across all touch points.
E) improving employee job satisfaction.
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Ideally, the pieces of a company's strat...View Answer
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Stretch objectives set performance targe...View Answer
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