Question 1

A program is:
A) is a statement in terms of dollars
B) the sequential steps
C) simply a statement of the activities necessary for accomplishing the strategy
D) understanding and common commitment to the strategy

Accepted Answer

A program is a detailed plan that outlines the specific activities or tasks required to achieve a particular strategy. It is not a statement in terms of dollars (option A), the sequential steps themselves (option B), or simply understanding and common commitment to the strategy (option D).

Question 2

____________suggests that problems arise in organizations because "the top management no longer bear the full results of their decisions unless they own a substantial amount of stock in the corporation."
A) Investment theory
B) Agency theory
C) Strategic theory
D) Management theory

Accepted Answer

This statement aligns with the principles of agency theory, which suggests that conflicts of interest can arise between the principal (shareholders) and agent (top management) when the latter is not fully motivated to act in the best interest of the former. Without owning enough stock, top management may be more focused on their own goals and incentives, rather than those of the shareholders.

Question 3

XTZ Inc.'s assumes that their project teams must know when a product has to be delivered to the leading customer, and product development time must be less than twelve months. Which Simple Rules does this statement support?
A) How-to rules
B) Exit rules
C) Timing rules
D) Entry rules

Accepted Answer

The statement supports Timing rules, as it clearly defines a time constraint for the product development process.

Question 4

Jonas, Fry, and Srivastva have derived four types of individual behaviors in the formulation a strategy:
A) Strategist, Enthusiastic, Steward, and Artist
B) Systematic, Analyst, Enthusiastic, and Artist
C) Strategist, Analyst, Steward, and Artist
D) Systematic, Authentic, Steward, and Artist

Accepted Answer

Jonas, Fry, and Srivastva have indeed derived four types of individual behaviors in the formulation of a strategy, namely strategist, analyst, steward, and artist. Choice A is incorrect because "enthusiastic" does not match any of the behaviors derived by the authors. Choice B is half-correct, but "systematic" does not match any of the behaviors in the authors' model, and only "analyst" fits. Choice D is also incorrect because "authentic" is not one of the behaviors derived by the authors. Therefore, the best answer is C, which correctly identifies all four individual behaviors proposed by Jonas, Fry, and Srivastva.

Question 5

According to John A. Pearce, "grand strategy" is defined as:
A) Open-ended statements of planned accomplishment
B) The desired end result of a planned accomplishment
C) The comprehensive plan by which the firm intends to achieve its objectives
D) Statements aimed at solving organizational threats

Accepted Answer

Grand strategy is a comprehensive plan that outlines how a firm intends to achieve its objectives. It encompasses all aspects of the organization and outlines the long-term plans and goals for success. Option A is incorrect because grand strategy is not just an open-ended statement, it is a detailed plan. Option B is incorrect because it only refers to the end result, but grand strategy includes the entire plan for achieving that result. Option D is incorrect because grand strategy is not just focused on solving problems, but on achieving success overall.

Question 6

Which of the following is not considered an objective?
A) Increase revenues by 10% each year
B) Increase the market share by 5% each year
C) Achieve sufficient profit to finance company growth
D) Raise the awareness about the offerings by 10% each year

Accepted Answer

Objectives are typically specific, measurable goals. "Achieve sufficient profit to finance company growth" is less specific and measurable compared to the other options, making it less likely to be considered a clear objective.

Question 7

___________ and _________ stage of the process is the point at which the results of a given strategy are monitored.
A) Evaluation and Planning
B) Implementing and Evaluation
C) Evaluation and Control
D) Planning and Control

Accepted Answer

The evaluation and control stage is the point at which the results of a given strategy are monitored to determine whether the desired outcomes have been achieved. The evaluation and control stage is the final stage of the strategic management process, which includes the steps of evaluation, analysis, formulation, implementation, and control.

Question 8

The strategic location of a shop is a/an _________, whereas the risk of natural disasters is not a/an _________.
A) Opportunity, Strength
B) Opportunity, Threat
C) Strength, Opportunity
D) Strength, Threat

Accepted Answer

The strategic location of a shop is considered a strength because it is an internal factor that can be leveraged for competitive advantage. The risk of natural disasters is a threat, as it is an external factor that can negatively impact the business.

Question 9

Internal analysis does not include analyzing an organization's.
A) Strengths and Weaknesses
B) Opportunities and Threats
C) Weakness and Threats
D) Strength and Opportunities

Accepted Answer

Internal analysis focuses on analyzing an organization's strengths and weaknesses, while external analysis looks at opportunities and threats. Therefore, the correct choice is B, which is the only option that includes analyzing opportunities and threats.

Question 10

Which of the following is not true about culture?
A) It encompasses an identifiable group of people who share common values, beliefs, and customs
B) It is learned, mostly informally, within the social environment
C) It represents a unified worldview and mindset since it is static
D) It includes the unique artifacts, language, art, music, drama, literature, folklore, cuisine, and architecture

Accepted Answer

Culture is not static, it is dynamic and evolves over time. It is shaped and influenced by various factors such as history, geography, politics, and technology. Therefore, culture is not a unified worldview or mindset.

Question 11

Which of the following is a part of the strategic consensus?
A) Programs
B) Budget
C) Procedures
D) All of the above

Accepted Answer

All of the above (programs, budget, and procedures) are part of the strategic consensus. Strategic consensus refers to the agreement among all stakeholders on the goals, objectives, and strategies to be pursued to achieve the organization's mission. It includes various elements such as programs (the specific activities or projects to be undertaken), budget (the financial resources allocated for those programs), and procedures (the processes or methods used to implement the programs).

Question 12

"Put more boldly, if you have no vision but only formal plans, then every unpredicted change in the environment makes you feel like your sky is falling." How does this perspective oppose or agree with Henry Mintzberg's statement, "while it was planning that experienced the turbulence, it was the environment that got labeled turbulent!"?

Accepted Answer

The answer of "Put more boldly, if you have no...

Question 13

Define and discuss the importance of having a well-formulated mission and vision for an organization. Identify the advantages and disadvantages to the various stakeholders (shareholders, employees, customers, the overall organization, etc.).

Accepted Answer

The answer of Define and discuss the importance of having...

Question 14

What are the different levels of organizational strategic planning? Discuss the role they play in the overall strategy of the organization.

Accepted Answer

The answer of What are the different levels of organizational...

Question 15

In your opinion, does the SWOT analysis have limitations? If yes, how would those limitations affect the strategic planning process of an organization? Support your answer with examples.

Accepted Answer

The answer of In your opinion, does the SWOT analysis...

Question 16

What are the possible negative aspects of intuitive decisions? Explain with examples.

Accepted Answer

The answer of What are the possible negative aspects of...

Question 17

Define and explain the relationship between strategic implementation and strategic consensus.

Accepted Answer

The answer of Define and explain the relationship between strategic...

Question 18

"Stakeholder concerns are not always based on what might be best for the organization, but what might be best for the stakeholder." Do you agree or disagree with this statement? Justify your answer.

Accepted Answer

The answer of "Stakeholder concerns are not always based on...

Question 19

Discuss the significance of inside and outside directors in the Board members' committee of an organization.

Accepted Answer

The answer of Discuss the significance of inside and outside...

Question 20

Discuss the implications of the agency theory on the organization's strategic plan.

Accepted Answer

The answer of Discuss the implications of the agency theory...

Quiz 1: An Introduction to the Strategic Planning Process SPP

A program is:

____________suggests that problems arise in organizations because "the top management no longer bear the full results of their decisions unless they own a substantial amount of stock in the corporation."

XTZ Inc.'s assumes that their project teams must know when a product has to be delivered to the leading customer, and product development time must be less than twelve months. Which Simple Rules does this statement support?

Jonas, Fry, and Srivastva have derived four types of individual behaviors in the formulation a strategy:

According to John A. Pearce, "grand strategy" is defined as:

Which of the following is not considered an objective?

___ and _ stage of the process is the point at which the results of a given strategy are monitored.

The strategic location of a shop is a/an _, whereas the risk of natural disasters is not a/an _.

Internal analysis does not include analyzing an organization's.

Which of the following is not true about culture?

Which of the following is a part of the strategic consensus?