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Terms in this set (100)What three key actions are required to build an organization capable of good strategy execution? implementing sound structure within the organization developing strong management and finding the right employees for the organization finding and growing the needed resources and skills necessary for strong strategy execution Which of the following statements accurately describe the process of executing a business strategy? Executing a business strategy is an action-driven activity. Executing a business strategy requires managers who work effectively with colleagues. When implementing a business strategy, a manager needs the skill to integrate the work of different groups into a cohesive whole. build a consensus and keep projects moving. Which of the following groups are involved in executing a new business strategy? senior managers When executing strategy, managers make use of a basic action agenda that serves as a recipe for successful strategy execution. False Staffing the organization of a company involves assembling a management team and hiring employees. Which of the following statements best describes the process of crafting a business strategy? Crafting business strategy is based on the analysis of market conditions and the company's resources. When implementing a new strategic initiative, business managers rarely encounter resistance to change. False The process of executing strategy usually involves all value chain activities. Which of the following statements regarding the execution of a strategy are true? Many of the policies and procedures in a business strategy need to be customized to fit the particulars of a company's situation. Some managers have more success than other managers with certain approaches to implementing strategy. Which of the following statements about executing business strategy is the most accurate? Certain managerial tasks must always be carried out in order to execute strategy effectively. When devising an action agenda, each manager within an organization needs to determine what needs to be accomplished in his or her area of responsibility in order to carry out the strategy. how to accomplish the various things that must get done in order to execute the strategy. The bigger the corporation, the more strategy execution depends on operating managers who direct the implementation of changes at the lower levels of the company. Which of the following are basic managerial tasks associated with executing business strategy? creating a culture within the organization that promotes effective strategy execution. linking incentives to achieving the financial goals of the strategy. installing systems that allow personnel to carry out their roles in the strategy execution process. When assembling a strong management team, it is crucial to fill positions with people who are clear thinkers. have experience delivering results. Managers who possess the skill required to implement strategy are not afraid to ask incisive questions. When setting an action agenda for implementing a business strategy, a business manager should begin by assessing what the organization needs to do differently in order to carry out the strategy. In small organizations, top managers are typically required to establish action steps and interact directly with frontline managers and employees. A substandard management team is likely to waste the effort of the people working under them. Obtaining a critical mass of managerial talent is important because a highly capable managerial team is likely to exchange ideas and propose sound operational improvements. Which of the following is an action that is likely to be taken by a strong manager? scheduling a weekly meeting with mid-level managers to check on the progress of frontline employees Deloitte has been recognized on lists of the best companies to work for due to its close attention to finding, keeping, and developing skilled employees. When devising an action agenda, each manager within an organization needs to determine what needs to be accomplished in his or her area of responsibility in order to carry out the strategy. how to accomplish the various things that must get done in order to execute the strategy. What is a company's best source of creative ideas for ground-level improvements that lead to operating excellence? knowledgeable and engaged employees Which of the following statements about the benefits of assembling a highly capable management team is correct? Managers who work well together can produce better results than one or two managers working on their own. Many high-tech companies are seeking employees who are imaginative and bring positive energy to the work environment. To help find, retain, and develop talented employees, Deloitte offers which of the following programs? guidance in the form of close mentoring relationships or sponsorships a definitive and clearly communicated route through the firm's hierarchy incentives for top performers, including fellowships and coaching training programs for all employees as they are promoted through the ranks Many progressive companies looking to find talented and energetic employees discourage new hires from challenging existing ways of thinking False What strategies do leading companies use to attempt to staff their companies with the right kinds of personnel? Recruit the most qualified people. When crafting and executing strategy, good managers need to upgrade resources and capabilities as necessary. put the resources and capabilities in place that will enable the strategy to succeed. In order to get the mix of characteristics that suit their business strategy and work environment, many of the industry-leading tech firms focus on hiring people in their 20s and 30s. Firms can become proficient at developing capabilities through regular practice. Managers can accelerate the process of capability building by developing "stretch objectives." In order to maintain a talented and energetic workforce, many companies provide training opportunities for employees throughout their careers. offer opportunities for employees to work internationally. During the early period of capability building, progress is often fitful and delayed by mistakes. Which of the following statements about developing resources and capabilities is true? If a company is relying on a strategy that has succeeded in the past, managers may still need to refresh the company's resources and capabilities. Some regularly used methods of capability building include merging with other companies. developing capabilities within the company. establishing partnerships with other companies. Developing an organizational capability into a tried-and-true competence requires mastering the ability through repetition and sustained time on task. maintaining appropriate levels of resource investment. Which of the following is an example of a company that augmented an existing capability? Canon repurposing technology in calculators to improve camera production Which of the following statements about the process of developing capabilities internally is correct? Developing capabilities internally is a collaborative process that often happens through the combined efforts of different departments. Acquiring capabilities through a merger or an acquisition often allows a company to add capabilities more quickly than developing new capabilities internally. The first step to developing an organizational ability involves identifying the right people to lead the process. shaping the work of individuals into a collaborative effort. Capability transfer through a merger or an acquisition can be challenging because capabilities are developed and sustained through routines that often cannot be transferred readily from one company to another. As individual and team experience grows, the process of capability building can be accelerated by motivating individuals and teams through incentives. In general, companies seeking to update and remodel existing capabilities find it less time-consuming to begin the process by doing which of the following? working from an established template Which of the following are ways that a company can access a capability through a collaborative partnership? by engaging in a joint venture with another firm that has a complementary set of capabilities by collaborating with a company, internalizing its methods, and acquiring its capabilities by outsourcing the value chain activity in which the company's capabilities are substandard t can be preferable to obtain new capabilities through a merger or an acquisition when market conditions are evolving quickly and the company needs fast capability development to keep pace. a company lacks the capacity to develop the capability internally. Which of the following are risks for a company that transfers capabilities through mergers or acquisitions? Correct Answer Incompatibilities between the two formerly separate companies may disrupt the transfer process. Which of the following are common measures that companies have taken to demonstrate their commitment to ongoing training? establishing internal universities
When attempting to collaborate through a joint venture or strategic alliance, a company should select a partner based on the degree of compatibility between the two companies. Excellence in strategy execution can provide competitive advantage by allowing a firm to get products to market faster than competitors. A skilled manager needs to ensure that training involves employees at all levels. is effective and adequately funded. The structural organization of a firm is, in part, a product of executive judgments. reflects prior organizational patterns and internal circumstances. Which of the following is an example of outsourcing a value chain activity? A winery contracts farmers to produce grapes. It can be preferable to obtain new capabilities through a merger or an acquisition when market conditions are evolving quickly and the company needs fast capability development to keep pace. a company lacks the capacity to develop the capability internally.
Effective strategy execution can allow a company to control a new market for a period of time. In addition to helping companies develop strategy-critical competencies, outsourcing can also help a company adapt to changes in the market quickly. Which of the following statements about the organizational structure of a business is true? It is a hard-and-fast rule that a firm's organizational structure should be matched to the particular requirements of its strategy implementation. A company may choose to outsource certain value chain activities because outsourcing an activity may allow a company to concentrate its efforts on activities that are at the core of its strategy. another company may have the capability to perform those activities more efficiently. Fast-food enterprises can rely on effective partnerships with local franchises to maintain proper levels of cleanliness and staff courtesy toward customers. ensure consistency across locations. ensure that food products meet corporate standards for quality. To limit the risk associated with outsourcing, many companies outsource strategically less important activities. Outsourcing can help consumer electronics companies get next-generation products to market ahead of the competition. car companies produce new models more quickly. A
company's formal and informal arrangements of tasks, responsibilities, and lines of authority and communications make up the company's organizational, organization, or organisational Partnerships can give a company a competitive advantage in local markets. True A company that enters into an outsourcing relationship runs the risk of becoming overly reliant on outside suppliers. Which of the following statements about the relationship between value chain activities are true? Some value chain activities are more critical than others for effective strategy execution. Companies should make critical value chain activities the centerpieces of their organizational structure. A company's organizational structure has significant impact on management's capacity to coordinate activities. The type of organizational structure that best suits a firm depends on which of the following? firm's size and complexity A simple organizational structure is a structure in which a central executive handles all major decisions and oversees organizational operations. What are the four basic types of organizational structure? multidivisional structure matrix structure simple structure functional structure A multidivisional organizational structure is a decentralized structure consisting of a set of operating divisions with a central headquarters that monitors divisional activities. Characteristics of the simple structure include minimal use of training. Which of following are advantages of a multidivisional organizational structure? a hierarchical structure that allows executives to oversee a diverse set of operations improved decision-making within each division Which of the following statements about a functional organizational structure are true? Functional structures are known as departmental structures. The main advantage of functional structure over simple structure is greater task specialization. Which of the following statements regarding the matrix organizational structure is true? An employee in a matrix structure may be required to report to several different managers. Which of the following statements about multidivisional organizational structures are true? Each division within a multidivisional structure is essentially a business. The individual divisions within a multidivisional organization often operate as independent profit centers. Which of the following is a disadvantage of matrix organizational structures? The matrix structure can increase internal costs by adding a layer of management to oversee business operations. The main disadvantage of a multidivisional business structure is that it can inhibit cross-business collaboration. A matrix organizational structure is a combination structure in which the organization is organized along two or more dimensions at once. Which of the following statements about delegating authority in a company is most accurate? Top managers have a variety of options when considering how much authority to delegate to people at lower levels of the organization. Which of the following are advantages of the matrix organizational structure? Matrix structures facilitate collaboration and allow for sharing key resources. Matrix structures can help companies realize economies of scope. Which of the following scenarios best reflects an advantage of a centralized organizational structure? A top-level executive is able to identify the accountable parties when a company fails to meet a production quota. Which of the following correctly describe the two extremes in organizational decision making? to centralize decision making, which gives top executives considerable control over daily operations to decentralize decision making, which can gives mid-level managers more authority to make decisions Which of the following statements accurately identifies a disadvantage of centralized decision making? A business with a centralized decision-making structure may be slow to respond to changing market conditions. Which of the following scenarios best corresponds to characteristics of decentralized organizational system? A company experiences a sustained period of high morale because people feel empowered to direct their own work. Which of the following statements identify key advantages of central decision making? Centralized decision making reduces the likelihood of conflicting decisions among mid-level managers. Centralized decision making can give top leaders the power to act effectively in a crisis. Which of the following statements are true concerning a centralized organizational system? Top-level managers have difficulty in obtaining all the information they need in an efficient manner. Top-level managers may have difficulty interpreting technical information that is key to operations in lower levels of the company. Which of the following statements concerning the disadvantages of a decentralized system are true? Managers and employees can more readily make decisions that undermine the interests of other areas of the company. Top-level executives may experience difficulty monitoring the actions of personnel under their supervision. Which of the following statements is true about decentralized organizational structures? Mid-level managers and frontline employees are inclined to show initiative and be more productive in decentralized systems. Cross-business strategic fit can be defined as the efficient coordination of individual business units in a corporation. Which of the following scenarios best corresponds to the disadvantages of decentralized organizational systems? Quarterly profits fall because of minimal collaboration among different units in the company. The many roles of a relationship manager include which of the following? getting the right people together for an initiative facilitating communication and cooperation
In a diversified company, the corporate parent may need to centralize certain operations to achieve a cross-business strategic fit among its separate businesses. Which of the following statements are true concerning a centralized organizational system? Top-level managers may have difficulty interpreting technical information that is key to operations in lower levels of the company. Top-level managers have difficulty in obtaining all the information they need in an efficient manner. Which of the following are characteristic of a well-managed business network structure? It encourages cooperation and collaboration among partners. The main task of a relationship manager is to build bridges with external partners so that business ventures achieve their goals. To match structure to strategy effectively, a strategy implementer does which of the following? supplements the organizational designs with task forces and teams to facilitate coordination picks an organizational design and alters the design appropriately to meet the company's needs sets up the communication and reporting mechanisms that will best help the company execute its strategy A business network structure is the relationship between several independent organizations involved in a shared objective. Some companies avoid establishing ideal organizational relationships in order to keep existing reporting relationships intact. To match structure to strategy effectively, a strategy implementer does which of the following? supplements the organizational designs with task forces and teams to facilitate coordination picks an organizational design and alters the design appropriately to meet the company's needs sets up the communication and reporting mechanisms that will best help the company execute its strategy Sets found in the same folderGEB 4890 - Business Strategy Chapter 8100 terms Unmortal_Being Chapter 11 MGMT 400950 terms tressie_frith_jobe GEB 4890 - Business Strategy Chapter 1288 terms Unmortal_Being GEB 4890 - Business Strategy Chapter 695 terms Unmortal_Being Other sets by this creatorhuman resource final20 terms tressie_frith_jobe chapter 1290 terms tressie_frith_jobe Human Resource Quiz 3,4,510 terms tressie_frith_jobe human resourse19 terms tressie_frith_jobe Other Quizlet setsMGMT105 WEEK 3 QUIZ25 terms NunceA Principles of Supervision DSST Part 250 terms ryan13c88 acct 311 exam 174 terms Allisonclaire147 Chapter 2 Learnsmart38 terms georgiecarrico Related questionsQUESTION the strategy - making process begins with : 7 answers QUESTION When information concerning an employee's mental or physical health is relevant, the supervisor shall not request information from the CISM program or Corporate Care Works EAP representative. Those requests are to be forwarded to the ------------ 2 answers QUESTION Which act applied the unfair labor practice provisions to unions, as well as to employers, and prohibited a union from forcing management to fire anti-union or non-union workers? 3 answers QUESTION The size of a hospitality property has an impact on its physical plan management strategy. 5 answers |
What is a companys best source of creative ideas for ground level improvements that lead to operational excellence?
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