Question 1

Explain why strategy evaluation can be a complex and sensitive undertaking.

Accepted Answer

Strategy evaluation can be a complex and...

Question 2

Most strategy literature advocates that strategic management is

Accepted Answer

A)   more of a science than an art.
B)   more of an art than a science.
C)   based on analysis rather than research.
D)   based on intuition rather than analysis.
E)   based on creativity rather than intuition.F) B) and C)
G) A) and E)

Question 3

A particularly important twenty-first-century challenge facing all strategists today is

Accepted Answer

A)   deciding whether the process should be more an art or a science.
B)   deciding whether strategies should be visible or hidden from stakeholders.
C)   deciding whether the process should be more top-down or bottom-up in their firm.
D)   All of the above
E)   None of the aboveF) B) and C)
G) B) and E)

Question 4

Compare and contrast two of Rumelt's four criteria for evaluating strategies.

Accepted Answer

Rumelt's four criteria for evaluating st...

Question 5

Too much emphasis on evaluating strategies

Accepted Answer

A)   may be expensive and counterproductive.
B)   is not possible - the more emphasis the better.
C)   is good for morale, as employees like being closely evaluated.
D)   is always advised if the firm can afford it.
E)   is worse than too little or no evaluation.F) C) and D)
G) B) and C)

Question 6

All of these are Richard Rumelt's criteria to evaluate a strategy except:

Accepted Answer

A)   advantage.
B)   consistency.
C)   feasibility.
D)   distinctiveness.
E)   consonance.F) None of the above
G) D) and E)

Question 7

Strategies should try to cover all bases by planning for all possible contingencies.

Accepted Answer

A) True 
 B)False

Question 8

What activity is defined as having alternative plans that can be put into effect if certain key events do not occur as expected?

Accepted Answer

A)   Corporate agility
B)   Scenario planning
C)   Strategy evaluation
D)   Contingency planning
E)   ForecastingF) B) and D)
G) B) and C)

Question 9

All companies have the option to use the IFRS procedures in _______,and then all companies are required to use IFRS in _______.

Accepted Answer

A)   2011, 2012
B)   2012, 2014
C)   2011, 2014
D)   2013, 2015
E)   2010, 2012F) B) and E)
G) A) and E)

Question 10

The Fortune 50 includes all of the following except:

Accepted Answer

A)   the largest retailers.
B)   the largest transportation companies.
C)   the largest utilities.
D)   the largest banks.
E)   the largest hospitals.F) C) and E)
G) B) and C)

Question 11

________ organizations require more elaborate and detailed strategy-evaluation systems than ________ ones because it is more difficult to coordinate efforts among different divisions and functional areas.

Accepted Answer

A)   Non-profit; for-profit
B)   For-profit; non-profit
C)   Large; small
D)   Small; large
E)   Foreign; domesticF) D) and E)
G) All of the above

Question 12

Alternative strategies not selected for implementation should be discarded,as they have a tendency to contaminate the contingency plans.

Accepted Answer

A) True 
 B)False

Question 13

What is the basis for quantitative financial evaluation?

Accepted Answer

A)   Cash budget
B)   The Balanced Scorecard
C)   Capital Asset Pricing Model
D)   Financial ratios
E)   Present value analysisF) C) and E)
G) B) and D)

Question 14

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

Accepted Answer

A)   overall business standards.
B)   the performance of international firms.
C)   the performance of suppliers.
D)   non-financial ratios.
E)   the performance of competitors.F) A) and C)
G) C) and E)

Question 15

According to Richard Rumelt,consonance and consistency are mostly based on a firm's external assessment.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following statements about contingency plans is not true?

Accepted Answer

A)   Contingency plans should be as simple as possible.
B)   Only high-priority areas require the insurance of contingency plans.
C)   Contingency plans should be developed for favorable and unfavorable events.
D)   Strategists should plan for all possible contingencies.
E)   Contingency plans minimize the impact of potential threats.F) A) and B)
G) B) and D)

Question 17

Corrective action in strategy evaluation is necessary to keep an organization on track toward achieving stated objectives.

Accepted Answer

A) True 
 B)False

Question 18

Adequate,timely feedback is important to effective strategy evaluation.

Accepted Answer

A) True 
 B)False

Question 19

International financial reporting standards (IFRS) comprise approximately _______ pages.

Accepted Answer

A)   1,000
B)   5,000
C)   10,000
D)   25,000
E)   100,000F) C) and D)
G) A) and D)

Question 20

Corrective actions are almost always _______ except when external and internal factors have not significantly changed and the firm is progressing satisfactorily toward achieving stated objectives.

Accepted Answer

A)   unnecessary
B)   needed
C)   undesirable
D)   prohibitively expensive
E)   futileF) B) and E)
G) C) and E)

Exam 9: Strategy Review, Evaluation, and Control

According to Richard Rumelt,consonance and consistency are mostly based on a firm's external assessment.

Correct AnswerverifiedShow Answer

Compare and contrast two of Rumelt's four criteria for evaluating strategies.

Correct AnswerverifiedRumelt's four criteria for evaluating st...View AnswerShow Answer

Which of the following statements about contingency plans is not true?

Correct AnswerverifiedShow Answer

Most strategy literature advocates that strategic management is

Correct AnswerverifiedShow Answer

What is the basis for quantitative financial evaluation?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

All companies have the option to use the IFRS procedures in _______,and then all companies are required to use IFRS in _______.

Correct AnswerverifiedShow Answer

Corrective actions are almost always _______ except when external and internal factors have not significantly changed and the firm is progressing satisfactorily toward achieving stated objectives.

Correct AnswerverifiedShow Answer

Corrective action in strategy evaluation is necessary to keep an organization on track toward achieving stated objectives.

Correct AnswerverifiedShow Answer

What activity is defined as having alternative plans that can be put into effect if certain key events do not occur as expected?

Correct AnswerverifiedShow Answer

Explain why strategy evaluation can be a complex and sensitive undertaking.

Correct AnswerverifiedStrategy evaluation can be a complex and...View AnswerShow Answer

Too much emphasis on evaluating strategies

Correct AnswerverifiedShow Answer

Adequate,timely feedback is important to effective strategy evaluation.

Correct AnswerverifiedShow Answer

________ organizations require more elaborate and detailed strategy-evaluation systems than ________ ones because it is more difficult to coordinate efforts among different divisions and functional areas.

Correct AnswerverifiedShow Answer

Strategies should try to cover all bases by planning for all possible contingencies.

Correct AnswerverifiedShow Answer

International financial reporting standards (IFRS) comprise approximately _______ pages.

Correct AnswerverifiedShow Answer

Alternative strategies not selected for implementation should be discarded,as they have a tendency to contaminate the contingency plans.

Correct AnswerverifiedShow Answer

The Fortune 50 includes all of the following except:

Correct AnswerverifiedShow Answer

All of these are Richard Rumelt's criteria to evaluate a strategy except:

Correct AnswerverifiedShow Answer

A particularly important twenty-first-century challenge facing all strategists today is

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified
Rumelt's four criteria for evaluating st...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

All companies have the option to use the IFRS procedures in _,and then all companies are required to use IFRS in _.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Strategy evaluation can be a complex and...
View Answer

Correct Answer
verified

Correct Answer
verified

organizations require more elaborate and detailed strategy-evaluation systems than ones because it is more difficult to coordinate efforts among different divisions and functional areas.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified