Question 1

Each year, Fortune publishes strategy evaluation research on both the United States and other countries.

Accepted Answer

This statement is true. Fortune publishes strategy evaluation research on not only the United States, but also on other countries every year.

Question 2

The test of an effective evaluation system is its usefulness and complexity.

Accepted Answer

The test of an effective evaluation system is its usefulness, not its complexity. Complexity can actually hinder the effectiveness of an evaluation system by making it difficult to understand and use.

Question 3

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.

Accepted Answer

Measuring organizational performance involves all of these actions.

Question 4

Taking corrective actions does not necessarily mean that existing strategies will be abandoned, or even that new strategies must be formulated.

Accepted Answer

Taking corrective actions means adjusting or improving existing strategies, it does not necessarily mean completely abandoning them or formulating new ones.

Question 5

Future shock occurs when the type and speed of changes overpower an individual or organization's ability and capacity to adapt.

Accepted Answer

Future shock is a term coined by Alvin Toffler in his book "Future Shock" and refers to the feeling of disorientation and anxiety caused by rapid and unexpected change. It occurs when individuals or organizations are unable to cope with the pace and magnitude of change, leading to feelings of overwhelm and inability to adapt.

Question 6

Intuitive judgments are almost always involved in deriving quantitative criteria.

Accepted Answer

Intuitive judgments are often used as a starting point to develop quantitative criteria, such as the values to assign to certain variables in a mathematical equation. However, it is important to refine and test these criteria to ensure they are valid and reliable.

Question 7

The Balanced Scorecard Approach deals with the question, "How satisfied are the firm's customers."

Accepted Answer

The Balanced Scorecard approach does assess customer satisfaction, along with other measures of financial, internal business, and learning/growth performance.

Question 8

Most quantitative evaluation criteria are geared to long-term objectives rather than annual objectives.

Accepted Answer

The answer of Most quantitative evaluation criteria are geared to...

Question 9

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

Accepted Answer

The answer of Measuring organizational performance requires making changes to...

Question 10

Strategy-evaluation activities must be meaningful, i.e., they should specifically relate to a firm's objectives.

Accepted Answer

Strategy-evaluation activities are conducted to assess whether the adopted strategies are achieving the firm's goals and objectives. Therefore, to be effective, they must be relevant and meaningful in relation to the firm's objectives.

Question 11

The basic form of a Balanced Scorecard is the same for all organizations and industries.

Accepted Answer

While the basic concept of the Balanced Scorecard (BSC) is the same for all organizations and industries, the specific measures, targets, and initiatives used in implementing the BSC can vary depending on the company's strategy, goals, and unique circumstances.

Question 12

Small organizations require a more elaborate and detailed strategy-evaluation system because they are still evolving.

Accepted Answer

The answer of Small organizations require a more elaborate and...

Question 13

The most admired company in the world in 2007 was Apple.

Accepted Answer

The answer of The most admired company in the world...

Question 14

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

This is a statement from Alvin Toffler's books Future Shock and The Third Wave.

Question 15

Timely approximate information is generally more desirable as a basis for strategy evaluation than accurate information that does not depict the present.

Accepted Answer

Timely approximate information is more relevant to the present situation and allows for quicker decision-making and course corrections, whereas accurate but outdated information can be misleading and irrelevant to the current scenario.

Question 16

According to research, participation in strategy-evaluation activities is one of the best ways to overcome individuals' resistance to change.

Accepted Answer

Research suggests that when individuals are involved in the process of evaluating and creating strategies for change, they are more likely to support and implement those changes. This is because it helps to address their concerns, provides opportunities for input and ownership, and can build a shared understanding of the need for change.

Question 17

Contingency plans are alternative plans that can be put into effect if certain key events do not occur as expected.

Accepted Answer

Contingency plans are meant to provide an alternative course of action in case the anticipated events do not happen as planned.

Question 18

There is no one ideal strategy-evaluation system for all organizations.

Accepted Answer

Each organization has their own unique goals, objectives, and challenges, so their strategy-evaluation system should be tailored to their specific needs and circumstances.

Question 19

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

Accepted Answer

Corrective action is a means of adjusting an organization's strategy when necessary to ensure that it remains on course toward achieving its stated goals and objectives. Without corrective action, an organization can easily stray from its intended path and fail to achieve its desired outcomes. Therefore, corrective action is an essential component of strategy evaluation, helping organizations to quickly identify and address any problems that may arise and keep themselves on track to success.

Question 20

Organizations should prepare contingency plans just for unfavorable events.

Accepted Answer

The answer of Organizations should prepare contingency plans just for...

Quiz 9: Strategy Review, Evaluation, and Control