Which of the following is not a characteristic of an effective strategic vision?

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Test 1 Ch- 1-4
Which of the following are characteristics of an effectively worded strategic vision?
What are the three elements of strategic vision?
What are the key elements of a strategic vision?
What are characteristics of effective vision statements quizlet?

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Test 1 Ch- 1-4

Question	Answer
In crafting a strategy, management is in effect saying	Among all the many different ways of competing we could have chosen, we have decided to employ this combination of competitive and operating approaches to move the company in the intended direction, strengthen its market position and competitiveness, and
The heart and soul of any company's strategy is the actions and moves in the marketplace that managers are taking to	Gain a competitive edge over rivals.
A company's strategy is a "work in progress" and evolves over time because of	Changing circumstances and ongoing management efforts to improve strategy.
Which of the following statements about a company's strategy is true?	Consists of the competitive moves and business approaches that managers employ to attract and please customers, compete successfully, capitalize on opportunities to grow the business, respond to changing market conditions, conduct operations, and achi
A company's strategy can be considered "ethical"	a strategy must entail actions that can pass moral scrutiny in the sense of not being shady, unconscionable, or injurious to others.
A company's business model	Sets forth how its strategy and operating approaches will create value for customers while at the same time generating sample revenues to cover costs and realize a profit.
A winning strategy is one that	Must fit the enterprise's external and internal situation, build sustainable competitive advantage, and improve company performance.
The most trustworthy signs of a well-managed company are	Good Strategy and Good strategy execution
Which one of the following is not one of the five basic tasks of the strategy-making, strategy-executing process?	Developing a Strategic Vision, Mission, and Core Values, Setting Objectives, Crafting a Strategy, Implementing and Executing the Strategy, Evaluating Performance and Initiating Corrective Adjustments
A company's strategic vision concerns	Describes the route a company intends to take in developing and strengthening its business. It lays lays out the company's strategic course in preparing for the future.
Which of the following are characteristics of an effectively-worded strategic vision statement?	Graphic, directional and focused
A company's mission statement addresses which of the following questions?	Who we are, what we do, and why we are here
The distinction between a company mission statement and a strategic vision is that	Strategic Vision sets forth a company's future direction ("where we are going"). Mission Statement describes its present business scope and purpose ("who we are, what we do, and why we are here")
A company's values or core values concern	Are the beliefs, traits, and behavioral norms that company personnel are expected to display in conduction the company's business and pursuing its strategic vision and mission.
The managerial purpose of setting objectives is to	Convert the strategiv vision and mission into specificperformance targets
Strategic objectives	relate to targeted outcomes that indicate the firm is strengthening its market standing, competitive vitality, and future business prospects.
Which of the following is the best example of a well-stated financial objective?	Increase earnings per share by 15% annually
A company exhibits strategic intent when	It relentlessly pursues an ambitious strategic objective, concentration the full force of its resources and competitive actions on achieving that objective.
Strategy-making is	More of a collaborative group effort that involves, to some degree, all managers and sometimes key employees, as opposed to being the function and responsibility of a few high-level executives
In a diversified company, the strategy-making hierarchy consists of	Corporate Strategy, Business Strategy, Functional Area strategies within each business and operating strategies within each business
Which one of the following is not part of a company's macroenvironment?	General economic conditions and global factors Political, Regulatory, and Legal factors Population Demographics Societal values and lifestyles Technological and environmental factors
Which one of the following is not part of the five-forces model of competition?	Firms in other industries offering subtitle products Buyers, Potential new entrants, Suppliers of raw materials, parts, or other resource inputs, Rivalry among competing sellers.
Factors that cause the rivalry among competing sellers to be weak include	Buyer demand is growing rapidly, the products of rival sellers are strongly differentiated and customer loyalty is high, buyers incur high costs in switching to a different brand, there are fewer than five sellers, industry members don't screw each other
Potential entrants are more likely to be deterred from actually entering an industry when	Pool of entry candidates is small, entry barriers are high, people in the industry are struggling, industry outlook is uncertain, buyer demands growing slowly, industry members will contest to new entries
The competitive pressures from substitute products tend to be stronger when	Good subs are readily available, subs are attractively priced, better performance, buyers have low cost in switching, growing buyers for subs.
Whether buyers are able to exert strong competitive pressures on industry members depends on	Buyers have low cost in switching to competing brands, buyer demand is weak or decline, large volume purchases, quantity and quality of information available to buyers improves, some buyers may become the competition.
A competitive environment is conducive to industry members earning attractive profits when	Both suppliers and customers are in weak bargaining positions, there are no good subs, high barriers block further entry, and rivalry among present sellers generates only moderate competitive pressure
The "driving forces" in an industry	Are major underlying causes of changing industry and competitive conditions and have the biggest influences in reshaping the industry landscape and altering competitive conditions
A strategic group	Is a cluster of industry rivals that have similar competitive approaches and market positions
An industry's key success factors	Can be determined from an analysis of an industry's dominant economic characteristics, what competition is like, the impacts of the driving forces, the comparative market positions of industry members and the likely next moves of industry rivals
Which of the following are the five questions that comprise the task of evaluating a company's resources and ability to compete successfully?	How well is a firm's present strategy working? Are the firm's resourses and capabilities attratitive and well matched to its market oportunities? Prices and cost competiptive Firm Competitively Stronger or Weaker than competitiors? What Strategic Iss
A simple and powerful tool for evaluating the competitive power of a company's resources and capabilities is widely known as	SWOT
The difference between a company competence and a core competence is that	Company competence is performing and activity when, over time, it gains the experiences and know-how to perform an activity consistently. Core competence an activity that a company performs quite well
A company resource weakness, or competitive deficiency,	is something a company lacks or does poorly in comparison to others or a condition that puts it at a disadvantage in the marketplace.
Which of the following best describes the market opportunities that tend to be most relevant to a particular company?	Those market opportunities that match up well with the firm's financial resources and competitive capabilities, offer the best growth and profitability and present the most potential for competitive advantage
Which of the following is an example of an external threat to a company's future profitability?	The lack of a distinctive competence B. New legislation that entails burdensome and costly government regulations C. Slowdowns in market growth
The two most important parts of SWOT analysis are	drawing conclusions about what story the compilation of strengths, weaknesses, opportunities, and threats tells about the company's overall situation, and (2) acting on those conclusions to better match the company's strategy
The three steps of SWOT analysis are	identifying the company's resource strengths and weaknesses and its opportunities and threats, drawing conclusions about the company's overall situation, and translating the conclusions into strategic action to improve the company's strategy.
A company's value chain identifies	the primary activities it performs that create customer value and the related support activities.
Benchmarking involves	Comparing how different companies perform various value chain activities and then making cross-company comparisons of the costs of these activities

Which of the following are characteristics of an effectively worded strategic vision?

Which of the following are characteristics of an effectively worded strategic vision statement? From Table 2.2, it is evident that an effectively worded vision statement is graphic, directional, focused, flexible, feasible, desirable, and easy to communicate.

What are the three elements of strategic vision?

Without these elements firmly established, it will be difficult to establish a sustainable business strategy..

Creating the mission statement. ... .

Crafting a vision statement. ... .

Setting the organization's values..

What are the key elements of a strategic vision?

While there is no perfect formula, based upon over 25 years of strategic clarity facilitation with high growth companies, here are five key components of an effective Strategic Vision statement to consider..

Future Oriented. ... .

Inspiring and Challenging. ... .

Motivating and Memorable. ... .

Purpose-driven. ... .

Unique..

What are characteristics of effective vision statements quizlet?

An effect vision statement has the following characteristics: brevity, clarity, abstractness and stability, future orientation, challenge, desirability or ability to inspire, and identification of intended products, markets, and strategy.

Which of the following is not a characteristic of an effective strategic vision?

Test 1 Ch- 1-4

Which of the following are characteristics of an effectively worded strategic vision?

What are the three elements of strategic vision?

What are the key elements of a strategic vision?

What are characteristics of effective vision statements quizlet?

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