Chapter 10

4) Which of these is a basic activity of strategy evaluation?

A) Examining the underlying bases of current strategies B) Measuring organizational performance C) Taking corrective actions D) Choices B and C only E) All of the above Answer: E

1) What is the cornerstone of effective strategy evaluation?

Adequate and timely feedback

5) A revised ________ should focus on changes in the organization's management, marketing, finance and accounting, production and operations, research and development (R&D), and management information systems (MIS) strengths and weaknesses.,

B) IFE Matrix

10) ________ plans can be defined as alternative plans that can be put into effect if certain key events do not occur as expected.

Contingency

3) Which of the following is NOT a way that companies can help create an ethical culture in their organization?

Discouraging whistle-blowing

12) What challenge facing all organizations requires managers to formulate strategies that preserve and conserve natural resources and control pollution?

Ecological

4) Good ethics is not a prerequisite for good strategic management.

FALSE

5) A well written code of ethics ensures ethical business behavior.

FALSE

8) In order to be considered bribery the gift offered must be either money or a physical item

FALSE

2) Which of the following business actions is considered to be unethical?

Misleading labeling

11) Which of the following statements about contingency plans is NOT true?

Strategists should plan for all possible contingencies

3) Evaluating strategies on a continuous rather than on a periodic basis allows benchmarks of progress to be established and more effectively monitored.

TRUE

8) What aims to balance long-term with short-term concerns & financial with nonfinancial concerns and internal with external concerns?

The Balanced Scorecard approach

6) ________ refers to refers to employees reporting any unethical violations they discover or see in the firm.

Whistle-blowing

7) Most quantitative criteria are geared to ________ objectives rather than to ________objectives.

annual ; long-term

7) Bribery involves

bestowing a gift to influence the recipient's conduct.

Bad ethics can ________ strategic plans.

derail even the best

9) The strategy-evaluation process should

foster mutual understanding and trust

11) It is ________ for a business to provide a sustainability report annually to the public.

good business

10) If a firm has a bad sustainability record this will

increase investor scrutiny of the firm.

2) Strategy-evaluation activities should ideally be performed

on a continuous basis

12) Mintzberg's notion of "crafting" strategies

suggests that strategic decision making be based primarily on holistic thinking, intuition

6) Financial ratios are used to compare a firm's performance over different time periods

the performance of competitors

9) Social policy can best be defined as

the responsibilities a firm has to employees, consumers, environmentalists, minorities, communities, shareholders, and other groups.