Developing strong management and finding the right

  • Liberty University
  • BUS 690
  • anna.rae.of.sunshine
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developing strong management and finding the right employees for the organization implementing sound structure within the organization installing information systems that support strategy execution activities Reason: 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 execution When crafting and executing strategy, good managers need to put 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 action agenda that serves as a recipe for successful strategy execution. True Reason:
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. False Correct Answer False Which 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 strategy execution 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 who have experience delivering results. come from similar backgrounds. are clear thinkers. are reluctant to make decisions. Some regularly used methods of capability building include developing 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 executives outside consultants with experience in the industry Reason: 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 employees newly hired graduates from top-notch universities A skilled manager needs to ensure that training involves employees at all levels. occurs only during a company's normal operating hours. is effective and adequately funded. focuses primarily on underachieving employees. Correct Answer involves 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.

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