Question 1

With the passage of time, strategy evaluation is becoming

Accepted Answer

A)   increasingly difficult.
B)   much simpler.
C)   very convenient.
D)   an unnecessary activity.
E)   less important.F) A) and E)
G) C) and E)

Question 2

Adequate and timely ________ is/are the cornerstone of effective strategy evaluation.

Accepted Answer

A)   rewards
B)   feedback
C)   punishment
D)   reminders
E)   promptsF) A) and E)
G) D) and E)

Question 3

What are some arguments for and against the adoption by the United States of International Financial Reporting Standards (IFRS)?

Accepted Answer

The old GAAP standards comprised 25,000 ...

Question 4

Financial ratios are used to compare a firm's performance over different time periods, to compare the firm's performance to industry averages, and to compare a firm's performance with

Accepted Answer

A)   overall business standards.
B)   projected goals.
C)   the performance of suppliers.
D)   non-financial ratios.
E)   the performance of competitors.F) All of the above
G) C) and E)

Question 5

A revised ________ should focus on changes in the organization's management, marketing, finance and accounting, production and operations, research and development (R&D) , and management information systems (MIS)  strengths and weaknesses.

Accepted Answer

A)   mission
B)   IFE Matrix
C)   vision
D)   EFE Matrix
E)   EPM MatrixF) B) and C)
G) D) and E) B

Question 6

Public accounting firms usually avoid strategy-evaluation services.

Accepted Answer

A) True 
 B)False

Question 7

Strengths, weaknesses, opportunities, cost and threats that represent the bases of current strategies should continually be monitored for change because it is not really a question of whether these factors will change, but rather when they will change and in what ways.

Accepted Answer

A) True 
 B)False

Question 8

All of the following are principles of good organizational governance, as established by BusinessWeek, EXCEPT

Accepted Answer

A)   each director attends at least 75 percent of all meetings.
B)   the audit, compensation and nominating committees are made up solely of outside directors.
C)   each director owns a large equity stake in the company.
D)   at least three directors are current or former company executives.
E)   the CEO is not also the Chairperson of the Board.F) All of the above
G) B) and E)

Question 9

Strategy evaluation is essential for developing objectives.

Accepted Answer

A) True 
 B)False

Question 10

The average size of a U.S. company board is 11 members.

Accepted Answer

A) True 
 B)False

Question 11

Alvin Toffler argues that environments are becoming so dynamic and complex that they threaten people and organizations with future shock, in his thought-provoking books entitled Future Shock and The Third Wave.

Accepted Answer

A) True 
 B)False

Question 12

In strategy evaluation, a revised IFE Matrix should indicate how effective a firm's strategies have been in response to key opportunities and threats.

Accepted Answer

A) True 
 B)False

Question 13

Mintzberg's notion of "crafting" strategies

Accepted Answer

A)   is consistent with the view that strategic management is more a science than an art.
B)   contends that firms need to assess their environments, do research, evaluate alternatives, analyze, and then choose a course of action.
C)   suggests that strategic decision making be based primarily on holistic thinking, intuition, creativity, and imagination.
D)   reject strategies that result from subjective imagination in favor of objective analysis.
E)   insists on formality.F) All of the above
G) B) and D)

Question 14

The idea that the positioning of one's ________ can enhance their combined effectiveness is familiar to military theorists, chess players, and diplomats.

Accepted Answer

A)   people
B)   facilities
C)   profits
D)   products
E)   resourcesF) A) and D)
G) B) and C)

Question 15

Only high-priority areas require the insurance of ________ plans.

Accepted Answer

A)   financial
B)   strategic
C)   operational
D)   contingency
E)   functionalF) A) and D)
G) D) and E)

Question 16

All of the following are reasons strategy evaluation is more difficult today EXCEPT

Accepted Answer

A)   a dramatic increase in the environment's complexity.
B)   the increasing number of variables.
C)   the increase in the number of both domestic and world events affecting organizations.
D)   the increasing time span for which planning can be done with any degree of certainty.
E)   the rapid rate of obsolescence of even the best plans.F) A) and B)
G) C) and D)

Question 17

Taking corrective actions, requires making changes to competitively reposition a firm for the future.

Accepted Answer

A) True 
 B)False

Question 18

The construction of a Balanced Scorecard is consistent across organizations and industries.

Accepted Answer

A) True 
 B)False  False

Question 19

Measuring organizational performance requires making changes to reposition a firm competitively for the future.

Accepted Answer

A) True 
 B)False  False

Question 20

Which of the following is NOT included in measuring organizational performance?

Accepted Answer

A)   Comparing results to competitors' expectations
B)   Examining progress being made toward meeting stated objectives
C)   Investigating deviations from plans
D)   Evaluating individual performance
E)   Comparing expected results to actual resultsF) A) and D)
G) All of the above

Exam 9: Strategy Evaluation and Governance

With the passage of time, strategy evaluation is becoming

Correct AnswerverifiedShow Answer

Adequate and timely ________ is/are the cornerstone of effective strategy evaluation.

Correct AnswerverifiedShow Answer

What are some arguments for and against the adoption by the United States of International Financial Reporting Standards (IFRS)?

Correct AnswerverifiedThe old GAAP standards comprised 25,000 ...View AnswerShow Answer

Financial ratios are used to compare a firm's performance over different time periods, to compare the firm's performance to industry averages, and to compare a firm's performance with

Correct AnswerverifiedShow Answer

A revised ________ should focus on changes in the organization's management, marketing, finance and accounting, production and operations, research and development (R&D) , and management information systems (MIS) strengths and weaknesses.

Correct AnswerverifiedB

Public accounting firms usually avoid strategy-evaluation services.

Correct AnswerverifiedShow Answer

Strengths, weaknesses, opportunities, cost and threats that represent the bases of current strategies should continually be monitored for change because it is not really a question of whether these factors will change, but rather when they will change and in what ways.

Correct AnswerverifiedShow Answer

All of the following are principles of good organizational governance, as established by BusinessWeek, EXCEPT

Correct AnswerverifiedShow Answer

Strategy evaluation is essential for developing objectives.

Correct AnswerverifiedShow Answer

The average size of a U.S. company board is 11 members.

Correct AnswerverifiedShow Answer

Alvin Toffler argues that environments are becoming so dynamic and complex that they threaten people and organizations with future shock, in his thought-provoking books entitled Future Shock and The Third Wave.

Correct AnswerverifiedShow Answer

In strategy evaluation, a revised IFE Matrix should indicate how effective a firm's strategies have been in response to key opportunities and threats.

Correct AnswerverifiedShow Answer

Mintzberg's notion of "crafting" strategies

Correct AnswerverifiedShow Answer

The idea that the positioning of one's ________ can enhance their combined effectiveness is familiar to military theorists, chess players, and diplomats.

Correct AnswerverifiedShow Answer

Only high-priority areas require the insurance of ________ plans.

Correct AnswerverifiedShow Answer

All of the following are reasons strategy evaluation is more difficult today EXCEPT

Correct AnswerverifiedShow Answer

Taking corrective actions, requires making changes to competitively reposition a firm for the future.

Correct AnswerverifiedShow Answer

The construction of a Balanced Scorecard is consistent across organizations and industries.

Correct AnswerverifiedFalse

Measuring organizational performance requires making changes to reposition a firm competitively for the future.

Correct AnswerverifiedFalse

Which of the following is NOT included in measuring organizational performance?

Correct AnswerverifiedShow Answer

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The old GAAP standards comprised 25,000 ...
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False

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False

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