Deck 5: Partnering

Question 1

Which of the following are common managerial decision-making biases?

A) a long run view
B) inertia
C) information anchoring
D) all of the above

Answer 1

information anchoring

Question 2

Which of the following is not an element of a business-level strategic plan?

A) industry analysis
B) operating goals
C) SWOT analysis
D) specific programs

Answer 2

SWOT analysis

Question 3

Competitor analysis typically deals with:

A) forecasts of the strategic behavior of rivals
B) industry disruption
C) understanding the industry's key value and cost drivers
D) all of the above

Answer 3

all of the above

Question 4

Goal setting is a more effective tool for planning than SWOT analysis because:

A) goal setting starts where SWOT ends
B) the SWOT process delays decision making
C) a SWOT analysis offers no direction to a firm
D) all of the above

Question 5

Which of the following are key benchmarks for setting financial goals?

A) the firm's historical performance
B) the performance of competitors
C) neither of the above
D) both of the above

Question 6

Which of the following is not a general category for strategic initiatives?

A) termination or turnaround of underperforming operations
B) top management compensation
C) investments in growth
D) development of risk management and compliance initiatives

Question 7

The Marakon profitability matrix is appropriate for:

A) comparing programs in the strategic plan
B) comparing competitors in terms of their market positions
C) comparing business units in terms of their economic performance
D) comparing countries in terms of their economic performance

Question 8

Which of the following should not be an element in the corporate strategic plan?

A) portfolio management activities
B) infrastructure initiatives
C) centralization initiatives
D) none of the above

Question 9

The typical time period for goal setting in a strategic plan is:

A) five years
B) three years
C) eight years
D) none of the above

Question 10

Which of the following is a useful question for competitor analysis?

A) What are the key macroeconomic forces that affect profits in the industry?
B) Has the industry passed through a shakeout?
C) Where is the firm located in the competitive landscape in terms of is value and cost drivers?
D) all of the above

Question 11

Strategic planning is more a line activity than a staff activity.

Question 12

Strategic execution is the same as strategy planning.

Question 13

Two standard methods for evaluating the economic value of a project include DCF analysis (and, in turn, NPV) and Real Options. When would it make sense to use a Real Options analysis instead of a DCF based analysis?

Question 14

The benefit of stretch goals lies in stimulating a level of innovation beyond what management has already imagined.

Question 15

A vision statement is typically medium long and describes the long term goals of the firm.

Question 16

Managers shy away from setting long-term goals because they are unwilling to identify the strategic consequences of their actions in a larger time frame.

Question 17

Goals are the basic units though which strategy is executed.

Question 18

Strategic initiatives are useful for assessing how well a plan is being executed.

Question 19

Execution is compromised when programs lack a lead manager and a specific time frame for completion.

Question 20

Program performance is tied to the business metrics included in a plan's goals.

Question 21

Why is problem solving a critical part of a firm's strategic planning process?