Question 1

One benefit of short-term objectives and action plans is that they provide a __________.They can provide clear,measurable mechanisms for developing budgets,schedules and trigger points,which help control the implementation of strategy.

Accepted Answer

Short-term objectives and action plans provide a basis for strategic control by providing clear and measurable mechanisms for developing budgets, schedules, and trigger points that help control the implementation of strategy. This helps to ensure that the actions taken are in line with the overall strategy and goals of the organization, and allows for adjustments to be made as needed to stay on track. While they may also have benefits for strategy evaluation, motivation, and implementation, the primary benefit of short-term objectives and action plans is their role in strategic control.

Question 2

A benefit of functional tactics is that the ____ of developing them,when done right,can be a forum for raising and resolving conflicts between strategic intent and operational realities due to operational issues not immediately known to higher management.

Accepted Answer

Functional tactics involve the development of specific action plans that aim to operationalize the overall strategy set by higher management. During this process, conflicts between the strategic intent and operational realities can arise due to operational issues that may not have been immediately apparent to higher management. Therefore, functional tactics provide a forum for identifying and resolving such conflicts, facilitating smoother implementation of the overall strategy.

Question 3

__________ obtaining work previously done by employees inside the companies from sources outside the company.

Accepted Answer

Outsourcing refers to obtaining work previously done by employees inside the company from sources outside the company. Specialization refers to focusing on a particular type of activity or function, fragmentation refers to breaking a task into smaller parts, and acquisition or merging refers to buying or joining another company.

Question 4

Which is NOT one of the differences between business strategies and functional tactics?

Accepted Answer

Reinforcement of the strategy is not a difference between business strategies and functional tactics; both are designed to support and reinforce the overarching goals of an organization. Business strategies are broad, long-term plans, while functional tactics are more specific, short-term actions within those strategies.

Question 5

________ are key,routine activities that must be undertaken in each functional area.

Accepted Answer

Functional tactics are essential, routine activities that must be carried out in each functional area to support the overall strategy of a company. These tactics involve plans and actions that focus on issues specific to each functional area within a company, such as marketing, operations, finance, human resources, and so on. Examples of functional tactics include developing marketing campaigns, implementing quality control processes in operations, managing cash flow in finance, and recruiting and training employees in human resources.

Question 6

Functional tactics translate thought (______)into action designed to accomplish specific short-term objectives.

Accepted Answer

Functional tactics are specific methods used to implement the broader grand strategy of an organization, translating strategic plans into actionable steps to achieve short-term objectives.

Question 7

Operating managers must establish short-term objectives and operating strategies that contribute to:

Accepted Answer

Operating managers must establish short-term objectives and operating strategies that contribute to achieving the organization's business-level goals, which are specific to each business unit and support the overall corporate-level goals. Diversification and specialization may be part of the business-level strategy but are not the primary focus of operating managers in the short term.

Question 8

The link between short-term and long-term objectives should resemble ________ through the firm from basic long-term objectives to specific short-term objectives in key operation areas.

Accepted Answer

The term "cascades" implies a flow that starts from a higher point and progresses downwards in a logical sequence, which is similar to how long-term objectives should flow into specific short-term objectives in different areas of the business. Building blocks imply a step-by-step approach to achieving objectives, but it doesn't convey the idea of a sequence or flow. Small barriers and fences are terms that imply obstacles or limitations, which is not the intended meaning here. Therefore, A is the best choice.

Question 9

Functional tactics are more _________ than business strategies.

Accepted Answer

Functional tactics are specific actions and plans implemented to achieve the objectives set by business strategies. They are more detailed and specific than business strategies, which are focused on the general direction of the firm. Functional tactics are typically short-term and focus on the implementation of specific actions, while business strategies are long-term and focused on the overall direction of the organization.

Question 10

The ___________ of functional tactics allows functional managers to adjust to changing current conditions.

Accepted Answer

Shorter time horizons in functional tactics allow managers to quickly adapt to changing conditions and make necessary adjustments to meet objectives.

Question 11

__________ identify activities to be undertaken now or in the immediate future.

Accepted Answer

Functional tactics refer to specific actions, plans, or initiatives geared towards achieving short-term objectives. They are generally associated with day-to-day operations and are meant to be implemented immediately or in the near future to support the overall business strategy. Long-term tactics refer to high-level plans that are part of the company's overall strategy, and corporate and business strategies are broader and include long-term planning, organizational structure, and resource allocation.

Question 12

One benefit of short-term objectives and action plans is its _________,which clarify personal and group roles in a firm's strategies and help realistically challenge managers to perform well.These objectives are particularly effective when linked to the firm's reward structure.

Accepted Answer

Short-term objectives and action plans can provide a motivational payoff for employees as they can see tangible progress towards achieving a goal. By clarifying personal and group roles, employees are better equipped to contribute to the firm's strategies, and can be realistically challenged to perform well. Linking these objectives to the firm's reward structure can further motivate employees to work towards achieving these goals.

Question 13

Every ________ in a company executes functional tactics that support the business's strategy and help accomplish strategic objectives.

Accepted Answer

Value chain activities are the actions and processes that a company performs to deliver valuable products or services to its customers. Each activity in the value chain contributes to the company's overall strategic objectives and supports the execution of its business strategy. Competitive rivalry and supplier/customer relationships are external factors that can influence a company's strategy, while business unit managers may oversee the execution of these activities but are not themselves the activities.

Question 14

Functional tactics translate _______ into action designed to accomplish specific short-term objectives.

Accepted Answer

Functional tactics translate grand strategy into specific actions to achieve short-term objectives, aligning with the broader strategic goals.

Question 15

Short-term objectives and action plans give operating personnel a better understanding of their role in the firm's ______.

Accepted Answer

The answer of Short-term objectives and action plans give operating...

Question 16

Which of the following is NOT a way that specificity in functional tactics contributes to successful implementation?

Accepted Answer

Specificity in functional tactics does not limit the need for top management's confidence in and sense of control over the business strategy. In fact, it may even increase the need for top management to have confidence in the functional tactics being implemented. The other options all represent ways that specificity in functional tactics can contribute to successful implementation.

Question 17

Some firms assign ____ to establish and communicate the relative priority of objectives.

Accepted Answer

Weights are assigned to establish the relative priority of objectives. This helps the firm to focus on the most important objectives and allocate resources accordingly. Rewards are used to incentivize the achievement of objectives, objectives are the desired outcomes, and policies are guidelines for decision-making.

Question 18

Business strategies provide _______ direction.

Accepted Answer

Business strategies provide a general direction as they outline the overall approach and long-term goals of an organization, guiding decision-making and resource allocation.

Question 19

Involving operating managers can increase the __________ of operating managers to the strategies developed.

Accepted Answer

Involving operating managers in the development of strategies can lead to an increase in their commitment to those strategies. This can be achieved by allowing operating managers to provide input, feedback and suggestions which can ultimately lead to the development of more effective strategies that are aligned with operational realities. Involving operating managers can also increase their ownership of the strategies and increase their motivation to implement them. Resistance and limitations are less likely outcomes of involving operating managers. Evaluation is a separate step that comes after the strategies have been developed and implemented.

Question 20

Outsourcing starts for most firms with:

Accepted Answer

Payroll production is usually the first function that firms outsource as it is a non-core activity and involves repetitive tasks that can be easily handled by third-party providers. This allows the firm to focus on its core competencies and save time and resources.

Quiz 10: Implementation