Deck 3: Performance Management and Strategic Planning

Question 1

12 Well-designed performance management systems define a clear path from organizational mission,vision,and goals to individual and team performance.

Answer 1

True

Question 2

13 Performance management systems allow all employees to understand where the organization stands and where it needs to go and provide tools to employees so that their behaviors will help the organization meet its goals.

Answer 2

True

Question 3

15 The main goal of the strategic planning process is to:

A)Write the mission statement to provide direction to the organization
B)Allocate resources to provide the organization with a competitive advantage
C)Form the foundation for the performance management process
D)None of the above

Answer 3

B

Question 4

8 A gap analysis consists of pairing strengths/weaknesses with opportunities/threats and determining whether the situation is conducive to positive outcomes,negative outcomes,or a mixture of both.

Question 5

7 A problem is a situation where an external threat can be compensated by strengths in other areas.

Question 6

17 Which of the following external factors should be considered in any environmental analysis?

A)Organizational culture
B)Organizational politics
C)Competitors
D)Organizational structure

Question 7

20 A good mission statement contains which of the following?

A)Statement of why the organization exists
B)Description of the organization's customers
C)List of the organization's products and services
D)All of the above

Question 8

14 HR support is sufficient for a successful performance management system;employee and top management buy-in is not necessary.

Question 9

11 Job descriptions should focus only on an individual's tasks and responsibilities.

Question 10

16 The strategic planning process consists of all of the following EXCEPT:

A)An environmental analysis
B)Development of the marketing plan
C)Creation of a mission statement
D)Setting organizational goals

Question 11

3 The performance management criteria must be linked to the vision,mission,goals,and strategies of the organization and unit.

Question 12

4 Environmental analysis is an examination of the external environment where the organization operates.

Question 13

19 If a company identifies an external opportunity that it cannot pursue due to an internal weakness,this is considered a:

A)Leverage
B)Constraint
C)Vulnerability
D)Problem

Question 14

5 An analysis of the economic environment would be included in the external environment analysis.

Question 15

1 Strategic planning is a process that involves describing the organization's destination,assessing barriers that stand in the way of that destination,and selecting approaches for moving forward.

Question 16

9 A mission statement is a description of what the organization would like to become in the future.

Question 17

18 Which of the following internal factors should be considered in an environmental analysis?

A)Organizational culture
B)Competitors
C)Organizational structure
D)A and C

Question 18

10 A vision statement provides more specific information on how the mission will be implemented.

Question 19

2 The only purpose of a strategic plan is to guide employees' daily activities.

Question 20

6 Leverage is a combination of an opportunity in the external environment and a matching strength in the organization.

Question 21

39 Which of the following has been shown to be the best predictor of firm performance?

A)Create strategic priorities and goals simultaneously.
B)Establish strategic priorities before setting goals.
C)Identify the strength and weaknesses of the firm,and then let firm-level strategic priorities emerge naturally.
D)Focus on goals,and then create strategic priorities on how to compete.

Question 22

22 ___________________ are the descriptions of game plans to reach the stated objectives.

A)Mission statements
B)Strategies
C)Goals
D)Vision statements

Question 23

33 A description of what the organization would like to become in the future is called:

A)The mission statement
B)The organizational plan
C)The strategic plan
D)The vision statement

Question 24

30 An examination of the internal environment includes a consideration of:

A)Employees and supervisors
B)Supply and demand
C)Strengths and weaknesses
D)Employees and customers

Question 25

35 ________________ are what the organization intends to do in the short term,say,one to three years.

A)Strategies
B)Strategic plans
C)Goals
D)Game plans

Question 26

38 Influenced by industrial organization research,a subfield of economics,_______ is a more recent way of thinking about strategic consensus than is the one promoted as the dominant approach in the early development of strategic management:

A)creating strategic priorities and goals simultaneously
B)establishing strategic priorities before setting goals
C)identifying the strength and weaknesses of the firm and then letting firm-level strategic priorities emerge naturally
D)focusing on goals,and then creating strategic priorities on how to compete

Question 27

26 Which of the following is a purpose served by strategic planning?

A)Helps define the organization's identity
B)Enhances ability to adapt to environmental changes
C)Allows for the consideration of new options and opportunities
D)All of the above

Question 28

Which one of the following is an example of Strategic priorities $\to$ Goals?

A)Each salesperson will increase $10,000 in sales by the end of the quarter.
B)Our company must double the number of our product lines to gain greater diversity and customer satisfaction.
C)Our firm will reduce the price of our items by 20 percent to compete in the East Asian market within the next five years.To do so,each store must increase employee productivity by 8 percent and implement a one-year hiring freeze.
D)Each team is required to propose a set of team goals that will help the organization achieve its organizational goals.

Question 29

29 Characteristics of the external environment that can prevent the organization from being successful are known as ______________________.

A)disadvantages
B)weaknesses
C)global factors
D)threats

Question 30

27 In order to ensure that strategy cascades down the organization and leads to concrete actions,which of the following must be done?

A)A conscious effort must be made to link the strategic plan with individual performance.
B)Company executives must mandate that employees follow the plan.
C)Employees must be involved in making the plan.
D)Supervisors must be able to evaluate how well an employee is following the plan.

Question 31

37 In the early development of strategic management as a field,what was the dominant approach to achieving strategic consensus?

A)Create strategic priorities and goals simultaneously.
B)Establish strategic priorities before setting goals.
C)Identify the strength and weaknesses of the firm,and then let firm-level strategic priorities emerge naturally.
D)Focus on goals,and then create strategic priorities on how to compete.

Question 32

28 Characteristics of the external environment that can help the organization succeed are known as ______________________.

A)advantages
B)opportunities
C)good situations
D)expectant situations

Question 33

31 _______________________ analyzes the external environment vis-à-vis the internal environment.

A)Business analysis
B)Environmental analysis
C)Gap analysis
D)Opportunity analysis

Question 34

21 A good vision statement is all of the following EXCEPT:

A)Focused
B)Detailed
C)Inspiring
D)A statement of future aspirations

Question 35

36 Strategic consensus occurs when __________agree on a common set of _______.

A)workers;unit-level goals
B)organizational units;strategic priorities
C)firms;industry-wide practices
D)managers;organizational values

Question 36

23 Which of the following choices must be made when designing a performance management system?

A)Behavioral criteria versus results criteria
B)Low employee participation versus high employee participation
C)Short-term criteria versus long-term criteria
D)All of the above

Question 37

25 Which of the following is a purpose served by strategic planning?

A)Allows an organization to increase profit
B)Allows an organization to reduce overhead cost
C)Allows an organization to find the best employees
D)Allows an organization to produce an organizational culture of cooperation

Question 38

32 The mission statement summarizes:

A)The organization's most important reason for existing
B)The mission
C)The organization's values
D)The organization's needs

Question 39

24 The process of describing the organization's destination,assessing barriers that stand in the way of that destination,and selecting approaches for moving forward is called ____________________________.

A)organizational planning
B)strategic planning
C)business planning
D)successful planning

Question 40

34 Which of the following is characteristic of a good vision statement?

A)Controversial
B)Free of a specific timeline to create flexibility
C)Long-lasting
D)Provides a stretch goal

Question 41

49 Define vulnerability in the context of strategic planning.

Question 42

43 Using the mission statement that you wrote in the previous question,write a vision statement,goals,and accompanying strategies for how to reach your goals.Also,list how you will measure your performance.

Question 43

Provide an example of the first way of achieving strategic consensus.

Question 44

48 Define constraint in the context of strategic planning.

Question 45

What is strategic consensus?

Question 46

What are the steps in the creation of a successful strategic plan?

Question 47

Provide an example of the second way of achieving strategic consensus.

Question 48

A good mission statement answers four questions.What are they?

Question 49

What are the two main ways of achieving strategic consensus?

Question 50

50 Define problem in the context of strategic planning.

Question 51

46 Define weaknesses in the context of strategic planning.

Question 52

42 As with organizations,people can have mission statements.Write a personal mission statement for yourself.Be sure that it includes all of the characteristics of a good mission statement.Use the following tool at the Franklin Covey Web site,and add to it as necessary: HYPERLINK "http://www.franklincovey.com/missionbuilder/index.html?c=Home_Center_Top" http://www.franklincovey.com/missionbuilder/index.html?c=Home_Center_Top Right_MissionBuilder.[HJ: underline the link?]

Question 53

45 Define strengths in the context of strategic planning.

Question 54

List the characteristics of a good vision statement.

Question 55

47 Define leverage in the context of strategic planning.