Question 1

If changes in the external environment are so severe that revising the objectives or even the corporate mission are mandated, then the changes can be directly implemented.

Accepted Answer

Even if changes in the external environment mandate revising the objectives or corporate mission, they cannot be directly implemented without a proper evaluation and planning process. The changes must be carefully considered and integrated into the organization's overall strategy.

Question 2

High-performing employees are not facilitators of the implementation of the organization's strategies.

Accepted Answer

High-performing employees play a crucial role in facilitating the implementation of an organization's strategies, as they possess the skills, knowledge, and commitment needed to achieve the desired results. They help to drive the implementation process by applying their expertise, taking ownership of tasks, collaborating effectively with others, and leading by example.

Question 3

The strategic planning process stops only when an organization ceases to exist.

Accepted Answer

The strategic planning process is ongoing and should be adjusted as necessary to adapt to changes in the organization's environment, goals, and resources. It should continue as long as the organization exists.

Question 4

Strategic evaluation and control needs to be a continuous monitoring process throughout the __________ and ___________ stages of the SPP.
A) Designing and planning
B) Formulation and implementation
C) Implementation and monitoring
D) Planning and budgeting

Accepted Answer

Strategic evaluation and control need to be implemented during the formulation stage to ensure that the plan is well-thought-out, feasible, and accurately reflects the organization's objectives. It also needs to be monitored during the implementation stage to ensure that the plan is being executed effectively and efficiently. Therefore, the best option is "Formulation and implementation."

Question 5

_____________ is the process of evaluating strategic plans and monitoring organizational performance.
A) Strategy evaluation and control
B) Strategic planning and formulating
C) Strategic planning and budgeting
D) Strategic evaluation and planning

Accepted Answer

Strategy evaluation and control is the process of assessing the effectiveness of strategic plans and making any necessary adjustments to ensure that organizational goals are being met. This involves monitoring key performance indicators, comparing actual performance to planned performance, and taking corrective action as needed. Strategic planning and formulating, strategic planning and budgeting, and strategic evaluation and planning are related concepts but do not directly refer to the process of evaluating and monitoring organizational performance.

Question 6

Different types of strategies are proposed by Henry Mintzberg except _____________.
A) Intended strategies
B) Deliberate strategies
C) Budget strategies
D) Unrealized strategies

Accepted Answer

Henry Mintzberg proposed the following types of strategies: Intended strategies (planned strategy), Emergent strategies (unplanned strategy), Deliberate strategies (intended and realized strategy), and Unrealized strategies (intended but not realized strategy). Budget strategies are not one of the types of strategies proposed by Mintzberg.

Question 7

Intended strategies that do not get realized may be called _____________.
A) Intended strategies
B) Deliberate strategies
C) Emergent strategies
D) Unrealized strategies

Accepted Answer

Unrealized strategies refer to the plans that were intended to be implemented but for various reasons were not realized.

Question 8

The intended and realized strategies may differ due to _____________.
A) Unrealistic strategic decisions
B) Managerial incompetence in implementing the strategic decisions
C) Uncontrollable changes in the external environment
D) All of the above

Accepted Answer

The intended and realized strategies may differ due to unrealistic strategic decisions, managerial incompetence in implementing the strategic decisions, and uncontrollable changes in the external environment. These factors can all contribute to a divergence between what was planned and what is actually achieved.

Question 9

Strategy evaluation is becoming increasingly difficult for all the following reasons _____________.
(i) Domestic and world economies were more stable in the past;
(ii) Product life cycles were shorter in the past;
(iii) Product development cycles were shorter in the past;
(iv) Technological advancement was faster in the past;
(v) Fewer competitors in the past.
A) All of the above
B) i, ii, iii and iv
C) i and ii only
D) i, iii and v
E) i, iii, iv and v

Accepted Answer

Strategy evaluation is becoming more challenging because of the increased instability in domestic and world economies, longer product development cycles, and more competitors compared to the past. These factors make it harder to predict and respond to market changes.

Question 10

___________ track the uncertainties that keep senior managers awake at night.
A) Interactive control systems
B) Diagnostic control systems
C) Beliefs systems
D) Boundary systems

Accepted Answer

The answer of ___________ track the uncertainties that keep senior...

Question 11

In the "Beliefs Systems," the primary organizational block is ___________.
A) Uncertainty about purpose
B) Pressure or temptation
C) Lack of focus or of resources
D) None of the above

Accepted Answer

The answer of In the "Beliefs Systems," the primary organizational...

Question 12

"Specify and enforce rules of the game" is the main managerial solution to ___________.
A) Interactive control systems
B) Diagnostic control systems
C) Beliefs systems
D) Boundary systems

Accepted Answer

"Specify and enforce rules of the game" is a solution to create and maintain effective boundary systems which helps a company define and communicate the limits of acceptable behavior, actions, and decisions.

Question 13

In a strategy evaluation, corrective actions are almost always needed, except when ___________.
(i) External and internal factors have not significantly changed;
(ii) External factors have significantly changed, but internal ones have not:
(iii) The firm is progressing satisfactorily toward achieving stated objectives;
(iv) Internal factors have significantly changed, but external ones have not.
A) iii and iv
B) only ii
C) i and iii
D) None of the above
E) All of the above

Accepted Answer

The statement "In a strategy evaluation, corrective actions are almost always needed, except when the firm is progressing satisfactorily toward achieving stated objectives" indicates that option (iii) is a valid answer. Option (i) is also valid since it states that there has been no significant change. However, options (ii) and (iv) both involve changes in either internal or external factors, which would likely require corrective action. Therefore, the best choice is C (i and iii).

Question 14

Numerous external factors that can prohibit firms from achieving annual and long-term objectives include all except ___________.
A) Actions by competitors
B) Changes in demand
C) Ineffective competitors' strategies
D) Demographic shifts

Accepted Answer

Ineffective competitors' strategies would actually benefit the firm as it would give them an advantage in the market. Therefore, the factor that doesn't belong on this list is C.

Question 15

______________ includes comparing expected results to actual results, investigating deviations from plans, evaluating individual performance, and examining progress being made toward meeting stated objectives.
A) A strategy-evaluation framework
B) Measuring organizational performance
C) Managerial communication
D) Taking corrective actions

Accepted Answer

Measuring organizational performance includes comparing expected results to actual results, investigating deviations from plans, evaluating individual performance, and examining progress being made toward meeting stated objectives. Options A, C, and D may be part of the process, but measuring organizational performance is the most suitable answer.

Question 16

Potential problems associated with using quantitative criteria for evaluating strategies include all of the following but ______________.
A) Different accounting methods can provide different results on many quantitative criteria
B) Most quantitative criteria are geared to long-term objectives rather than annual objectives
C) Intuitive judgments are almost always involved in deriving quantitative criteria
D) Both (a) and (c)
E) (a), (b), (c)

Accepted Answer

Most quantitative criteria are actually geared towards short-term or immediate results rather than long-term objectives, making option B incorrect in the context of being a problem associated with using quantitative criteria for evaluating strategies.

Question 17

The final strategy-evaluation activity is _________.
A) Measuring performance
B) Comparing performance to standards
C) Determining the reasons for the deviations
D) Taking corrective actions

Accepted Answer

Taking corrective actions is the final step in strategy evaluation, as it involves implementing changes to address any deviations from the desired performance standards.

Question 18

An organizational objectives should be _________.
A) Specific
B) Measurable
C) Time-phased
D) Achievable
E) All of the above

Accepted Answer

All of the above are important characteristics of a well-defined organizational objective. Specific objectives provide clarity and focus. Measurable objectives enable progress tracking. Time-phased objectives provide a timeline for achievement. Achievable objectives motivate employees and ensure that success is attainable.

Question 19

In setting the control standards, which of the following is not a necessary step taken by the organization _________?
A) Identify the targets
B) Identify employee satisfaction
C) Determine the tolerances around the targets
D) Specify the timing of specific standards

Accepted Answer

While employee satisfaction is an important aspect of organizational management, it is not a necessary step in setting control standards. The other options listed (identifying targets, determining tolerances, specifying timing) are all essential steps in the process of setting standards for monitoring and regulating organizational performance.

Question 20

_________ are often thought as statistical confidence intervals.
A) Tolerances
B) Objectives
C) Strategy evaluation
D) Quantitative evaluation techniques

Accepted Answer

Tolerances are commonly used as statistical confidence intervals, which indicate the level of uncertainty around a measurement or estimate. They specify the range within which the true value of a parameter is expected to lie with a certain degree of confidence.

Quiz 8: Evaluation and Control in Strategic Planning

If changes in the external environment are so severe that revising the objectives or even the corporate mission are mandated, then the changes can be directly implemented.

High-performing employees are not facilitators of the implementation of the organization's strategies.

The strategic planning process stops only when an organization ceases to exist.

Strategic evaluation and control needs to be a continuous monitoring process throughout the and _ stages of the SPP.

_____________ is the process of evaluating strategic plans and monitoring organizational performance.

Different types of strategies are proposed by Henry Mintzberg except _____________.

Intended strategies that do not get realized may be called _____________.

The intended and realized strategies may differ due to _____________.

___________ track the uncertainties that keep senior managers awake at night.

In the "Beliefs Systems," the primary organizational block is ___________.

"Specify and enforce rules of the game" is the main managerial solution to ___________.

Numerous external factors that can prohibit firms from achieving annual and long-term objectives include all except ___________.

______________ includes comparing expected results to actual results, investigating deviations from plans, evaluating individual performance, and examining progress being made toward meeting stated objectives.

Potential problems associated with using quantitative criteria for evaluating strategies include all of the following but ______________.

The final strategy-evaluation activity is _________.

An organizational objectives should be _________.

In setting the control standards, which of the following is not a necessary step taken by the organization _________?

_________ are often thought as statistical confidence intervals.