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developing strong management and finding the right employees for the organizationimplementing sound structure within the organizationinstalling information systems that support strategy execution activitiesReason:Installing information systems may be necessary in some cases, but it is not a required action for good strategy execution.finding and growing the needed resources and skills necessary for strong strategy executionWhen crafting and executing strategy, good managers need toput the resources and capabilities in place that will enable the strategy to succeed.rely on top frontline employees to put the appropriate resources in place.upgrade resources and capabilities as necessary.resist modifying resources and capabilities when market conditions evolve.True or false: When executing strategy, managers make use of a basic actionagenda that serves as a recipe for successful strategy execution.TrueReason:
There is no definitive managerial "to do" list that applies in all circumstances. Instead, management must rely on its judgment about how to proceed when executing strategy.FalseCorrect AnswerFalseWhich of the following are basic managerial tasks associated with executing business strategy?creating a culture within the organization that promotes effective strategy execution.installing systems that allow personnel to carry out their roles in the strategyexecution process.linking incentives to achieving the financial goals of the strategy.establishing cooperative relationships with competitors.When assembling a strong management team, it is crucial to fill positions with people whohave experience delivering results.come from similar backgrounds.are clear thinkers.are reluctant to make decisions.Some regularly used methods of capability building includedeveloping capabilities within the company.
merging with other companies.selling shares of the company.establishing partnerships with other companies.What is a company's best source of creative ideas for ground-level improvements that lead to operating excellence?senior executivesoutside consultants with experience in the industryReason:While this may be a source of creative ideas in some cases, in terms of ground-level improvements, there is a better source of creative ideas that lead to operating excellence.knowledgeable and engaged employeesnewly hired graduates from top-notch universitiesA skilled manager needs to ensure that traininginvolves employees at all levels.occurs only during a company's normal operating hours.is effective and adequately funded.focuses primarily on underachieving employees.Correct Answerinvolves employees at all levels.is effective and adequately funded.Which of the following statements about developing resources and capabilities is true?
Successful companies rarely adopt strategies that require the addition of new resources and capabilities.