445 1st Exam Sample Questions TSG17

445 1st Exam Sample Questions TSG17 - 1st Exam Sample...

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1 st Exam Sample Questions TSG17 Answers at end ---------------------------------------------------------------------------------------------------------------------------------------------------------------- 1. What a company's top executives are saying about where the company is headed and about what the company's future product-customer-market-technology will be A) indicates what the company's long-term strategic plan is. B) indicates what kind of business model the company is going to have in the future. C) constitutes their strategic vision for the company. D) serves to define the company's mission. E) signals what the firm's strategy will be. 2. The difference between the concept of a company mission statement and the concept of a strategic vision is that A) a mission concerns what to do to achieve short-run objectives and a strategic vision concerns what to do to achieve long-run performance targets. B) a mission statement typically concerns a company's present business scope ("who we are and what we do") whereas the principal concern of a strategic vision is with the company's long term direction and future product-market-customer- technology focus. C) a mission statement deals with "where we are headed " whereas a strategic vision provides the critical answer to "how will we get there?" D) the mission is to make a profit, whereas a strategic vision concerns what business model to employ in striving to make a profit. E) a mission statement deals with what to accomplish on behalf of shareholders and a strategic vision concerns what to accomplish on behalf of customers. 3. Breaking down resistance to a new strategic vision typically requires that top management A) frequently reiterate the basis for the new direction at company gatherings, address employee concerns and fears head- on, try to lift the spirits of employees, and provide updates and progress reports as events unfold (particularly information that confirms the wisdom of the new direction). B) institute a balanced scorecard approach to measuring company performance, with the "balance" including a mixture of old performance measures (that company personnel are familiar and comfortable with) and new performance measures (that indicate the progress being made in achieving the new vision). C) keep company personnel well-informed about forthcoming changes in the company's strategy. D) raise wages and salaries to win the support of company personnel for the company's new direction. E) move promptly to update the company's business model and hold meetings with company personnel to explain the merits of the new business model. 1
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4. A set of "stretch" financial and strategic objectives A) is an effective tool for avoiding ho-hum results. B)
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This note was uploaded on 02/23/2012 for the course MGMT 6359 taught by Professor Wang during the Fall '11 term at University of Houston-Victoria.

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445 1st Exam Sample Questions TSG17 - 1st Exam Sample...

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