Question 1

Unlike strategy formulation,strategy implementation varies considerably among different types and sizes of organizations.

Accepted Answer

Strategy implementation can be affected by factors such as organizational culture, leadership style, resources available, and the complexity of the strategy itself, which can vary from organization to organization. Therefore, different types and sizes of organizations may need to implement their strategies in different ways.

Question 2

Implementing strategy affects all the functional areas of a business and may influence some divisional areas of a business.

Accepted Answer

False

Question 3

Which of the following is a management issue central to strategy implementation?
A)Devising policies
B)Revising reward and incentive plans
C)Minimizing resistance to change
D)Developing an effective human resources function
E)All of the above

Accepted Answer

All of the options listed are central management issues to strategy implementation. Devising policies is important because it sets guidelines for decision-making and behavior. Revising reward and incentive plans is important to ensure that employees are motivated to work towards the new strategy. Minimizing resistance to change is critical because it helps to ensure that the implementation process goes smoothly. Developing an effective human resources function is important for attracting and retaining talent, and creating a supportive organizational culture. Therefore, all of the options listed are important management issues that need to be addressed in order to implement a new strategy effectively.

Question 4

What are five differences between strategy formulation and strategy implementation?

Accepted Answer

The answer of What are five differences between strategy formulation...

Question 5

Effective strategy formulation can usually guarantee successful strategy implementation.

Accepted Answer

While effective strategy formulation is important, it does not guarantee successful strategy implementation. Many factors, such as external market changes, internal resistance to change, and unforeseen obstacles can impact the successful execution of a strategy.

Question 6

"All of our locations will be open at least two evenings per week until 8:30 p.m." is an example of a(n)
A)administration.
B)goal.
C)objective.
D)policy.
E)procedure.

Accepted Answer

The sentence is stating a specific rule or course of action that all locations must adhere to, which makes it a policy. The other options are not as fitting - administration refers to the overall management or organization of a company, a goal is a broad, long-term aim, and objectives are specific, measurable steps taken to achieve a goal. A procedure is a specific set of steps or instructions for completing a task, but the sentence does not provide enough information to indicate that it is outlining a full procedure.

Question 7

Considerable time and effort should be devoted to assuring objectives are well conceived because they represent the basis for
A)monitoring progress toward long-term objectives.
B)establishing divisional priorities.
C)allocating resources.
D)evaluating managers.
E)all of the above

Accepted Answer

Well-conceived objectives are crucial for monitoring progress towards long-term objectives, establishing divisional priorities, allocating resources, and evaluating managers. Objectives serve as the foundation for all activities within an organization, and therefore, a considerable amount of time and effort should be devoted to their conception.

Question 8

List three of the primary reasons annual objectives are essential for strategy implementation.

Accepted Answer

The answer of List three of the primary reasons annual...

Question 9

Which is NOT a characteristic of policies?
A)let both employees and managers know what is expected of them
B)provide a basis for management control
C)allow coordination across organizational units
D)reduce the amount of time managers spend making decisions
E)represent the basis for allocating resources

Accepted Answer

The answer of Which is NOT a characteristic of policies?
A)let...

Question 10

Which word or phrase would be most suitable to use in written objective statements?
A)Maximize
B)Minimize
C)10 percent increase
D)Adequate
E)As soon as possible

Accepted Answer

Objective statements should be specific and measurable. "Maximize" and "minimize" are vague and can mean different things to different people. "Adequate" is also too vague and doesn't provide a clear goal. "As soon as possible" is also not specific enough. "10 percent increase" is a specific and measurable goal that would be appropriate for an objective statement.

Question 11

Policies
A)let both employees and managers know what is expected of them.
B)provide a basis for management control.
C)allow coordination across organizational units.
D)reduce the amount of time managers spend making decisions.
E)all of the above

Accepted Answer

Policies serve multiple purposes, including allowing clear communication of expectations to employees and managers, providing a basis for management control, facilitating coordination across different departments or units, and reducing the amount of time managers need to spend making decisions. Therefore, all of the above options are correct.

Question 12

A firm's annual objectives can be stated by business segment.

Accepted Answer

It is possible for a firm to have different objectives for different business segments, such as revenue growth for one segment and cost reduction for another.

Question 13

Policies refer to specific guidelines,methods,procedures,rules,forms,and administrative practices established to support and encourage work toward stated goals.

Accepted Answer

Policies are indeed established to support and encourage work toward stated goals by providing specific guidelines, methods, procedures, rules, forms, and administrative practices.

Question 14

Which of the following is NOT true about objectives?
A)They should be communicated throughout the organization.
B)They should have an appropriate time dimension.
C)They should use terms like "maximize," "minimize," and "as soon as possible."
D)They should be measurable.
E)They should be consistent.

Accepted Answer

Objectives should avoid using terms like "maximize" or "minimize" as they are vague and not quantifiable. The objectives should be specific and measurable to ensure that progress towards them can be tracked and evaluated.

Question 15

Horizontal consistency is less important than vertical consistency in developing annual objectives,but it still contributes to improved objectives.

Accepted Answer

The answer of Horizontal consistency is less important than vertical...

Question 16

Undesirable conduct such as distorting the records can be a result of overemphasis on achieving objectives.

Accepted Answer

When there is too much emphasis on achieving objectives, individuals may resort to unethical behavior, such as distorting records, in order to meet goals.

Question 17

What term is used to describe specific guidelines,methods,procedures,rules,forms and administrative practices established to support and encourage work toward stated goals?
A)Long-term objectives
B)Policies
C)Annual objectives
D)Strategies
E)Values

Accepted Answer

Policies are specific guidelines, methods, procedures, rules, forms, and administrative practices established to support and encourage work towards stated goals. Long-term objectives refer to the future goals of an organization, annual objectives refer to yearly goals, strategies refer to the plans made to achieve the objectives, and values refer to the beliefs and principles of an organization.

Question 18

It is always easier to say you are going to do something (strategy formulation)than to actually do it (strategy implementation).

Accepted Answer

Strategy formulation involves developing plans and making decisions, which can often be done with relative ease. However, strategy implementation requires the actual execution of those plans and decisions, which can be more difficult and time-consuming. It often involves overcoming various barriers and obstacles, such as resistance to change, resource constraints, and unforeseen challenges. Therefore, it can be said that strategy implementation is often more difficult than strategy formulation.

Question 19

Which of the following is NOT a management issue central to strategy implementation?
A)Devising policies
B)Revising reward and incentive plans
C)Performing an internal audit
D)Minimizing resistance to change
E)Developing an effective human resources function

Accepted Answer

Performing an internal audit is not a management issue central to strategy implementation. While performing an internal audit can help identify areas that need improvement, it is not a primary management issue in implementing a strategy. The other choices, devising policies, revising reward and incentive plans, minimizing resistance to change, and developing an effective human resources function are all crucial management issues in implementing a strategy.

Question 20

Annual objectives are key components in the strategic-management process because they dictate how resources will be allocated.

Accepted Answer

Annual objectives serve as specific targets and guide the allocation of resources towards achieving the organization's long-term goals and strategies. Hence, they are critical components of the strategic-management process.

Quiz 10: Strategy Execution

Unlike strategy formulation,strategy implementation varies considerably among different types and sizes of organizations.

Implementing strategy affects all the functional areas of a business and may influence some divisional areas of a business.

Which of the following is a management issue central to strategy implementation?

What are five differences between strategy formulation and strategy implementation?

Effective strategy formulation can usually guarantee successful strategy implementation.

"All of our locations will be open at least two evenings per week until 8:30 p.m." is an example of a(n)

Considerable time and effort should be devoted to assuring objectives are well conceived because they represent the basis for

List three of the primary reasons annual objectives are essential for strategy implementation.

Which is NOT a characteristic of policies?

Which word or phrase would be most suitable to use in written objective statements?

Policies

A firm's annual objectives can be stated by business segment.

Policies refer to specific guidelines,methods,procedures,rules,forms,and administrative practices established to support and encourage work toward stated goals.

Which of the following is NOT true about objectives?

Horizontal consistency is less important than vertical consistency in developing annual objectives,but it still contributes to improved objectives.

Undesirable conduct such as distorting the records can be a result of overemphasis on achieving objectives.

What term is used to describe specific guidelines,methods,procedures,rules,forms and administrative practices established to support and encourage work toward stated goals?

It is always easier to say you are going to do something (strategy formulation)than to actually do it (strategy implementation).

Which of the following is NOT a management issue central to strategy implementation?

Annual objectives are key components in the strategic-management process because they dictate how resources will be allocated.