Quiz 6: Strategic Management: How Exceptional Managers Realize a Grand Design

Business

True Explanation: A 2013 survey found that the most widely used management tool in 2012 was used 12,even 14 years earlier-namely,strategic planning,thought to be effective by about 80% of the senior managers surveyed.The use of mission and vision statements also continued to be popular,also favored by about 80%.

False Explanation: Strategic planning is concerned with developing a comprehensive program for long-term success.

True Explanation: Because of fast-spreading world conditions,such as the threat of products becoming commodities,rapidly increasing productivity,and global overcapacity,managers must be able to make difficult decisions.The writer Geoffrey Colvin puts it as,"The future will demand ever more people with the golden trait,the fortitude to accept and even seek psychic pain."