Globus Final Exam Latest Questions with 100%
Correct Answers
Which of the following are key tasks in the strategy-making, strategy-executing process? -
✔️✔️Developing a strategic vision, mission, and core values; setting objectives; and crafting a
strategy to achieve the objectives and move the company along the path to accomplishing the
mission and vision
In a single-business company, the strategy-making hierarchy (as shown in Figure 2-2) consists of
- ✔️✔️Business strategy, functional area strategies, and operating strategies
Which of the following is the best example of a well-stated strategic objective? - ✔️✔️Reduce
production costs per unit by 10% within 12 months
The surest path to boosting company profitability quarter after quarter and year after year is
for company managers to - ✔️✔️relentlessly pursue strategic outcomes that strengthen the
company's market position with buyers and, ideally, produce a growing competitive advantage
over rivals
A set of "stretch" financial and strategic objectives - ✔️✔️helps a company avoid ho-hum results
A company's strategic vision concerns - ✔️✔️a company's long-term direction and what product-
customer-market-business mix seems optimal for the road ahead
Corporate strategy for a diversified or multi-business enterprise - ✔️✔️concerns strategy
initiatives to establish business positions in different industries, whether to hold or divest
existing businesses, strategic actions to boost the combined performance if the set of
businesses the company has diversified into and how to capture cross-business synergies and
turn them into a competitive advantage
, Effectively communicating the strategic vision to lower-level managers and employees is a
valuable tool for - ✔️✔️enlisting the commitment of company personnel to actions that get the
company moving in the intended direction
Which of the following is not among the principal managerial tasks associated with
implementing and executing a company's strategy? - ✔️✔️Pushing employees to work hard, do
their very best, and meet or beat the established performance targets--- employees that fall
short on these criteria must be quickly weeded out
The difference between the concept of a company mission statement and the concept of a
strategic vision is that - ✔️✔️a mission statement typically concerns a company's present
business scope and purpose ("who we are, what we do, and why we are here") whereas the
principal concern of a strategic vision is with the company's future direction and "where we are
going"
Which of the following is not a common shortcoming of company vision statements? - ✔️✔️Too
focused on long-term revenue growth and profitability
A company's strategic plan consists of - ✔️✔️a vision of where it is headed, a set of performance
targets, and a strategy to achieve them
A company with strategic intent is one that - ✔️✔️has an unshakable commitment to a particular
vision
While doing the necessary detective work can be tedious and time-consuming, studying the
strategies and situations of rival companies (most especially close rivals) well enough to be able
to anticipate many of their next moves has the big advantage of - ✔️✔️enabling managers to
prepare effective countermoves (perhaps to even beat a rival to the punch) and to take rivals
probable actions into account in crafting their own best course of action
Factors that weaken the rivalry among competing sellers include - ✔️✔️high buyer costs to
switch brands, so many industry rivals that any one company's actions have little impact on
rivals' businesses, and rapid growth in buyer demand
Correct Answers
Which of the following are key tasks in the strategy-making, strategy-executing process? -
✔️✔️Developing a strategic vision, mission, and core values; setting objectives; and crafting a
strategy to achieve the objectives and move the company along the path to accomplishing the
mission and vision
In a single-business company, the strategy-making hierarchy (as shown in Figure 2-2) consists of
- ✔️✔️Business strategy, functional area strategies, and operating strategies
Which of the following is the best example of a well-stated strategic objective? - ✔️✔️Reduce
production costs per unit by 10% within 12 months
The surest path to boosting company profitability quarter after quarter and year after year is
for company managers to - ✔️✔️relentlessly pursue strategic outcomes that strengthen the
company's market position with buyers and, ideally, produce a growing competitive advantage
over rivals
A set of "stretch" financial and strategic objectives - ✔️✔️helps a company avoid ho-hum results
A company's strategic vision concerns - ✔️✔️a company's long-term direction and what product-
customer-market-business mix seems optimal for the road ahead
Corporate strategy for a diversified or multi-business enterprise - ✔️✔️concerns strategy
initiatives to establish business positions in different industries, whether to hold or divest
existing businesses, strategic actions to boost the combined performance if the set of
businesses the company has diversified into and how to capture cross-business synergies and
turn them into a competitive advantage
, Effectively communicating the strategic vision to lower-level managers and employees is a
valuable tool for - ✔️✔️enlisting the commitment of company personnel to actions that get the
company moving in the intended direction
Which of the following is not among the principal managerial tasks associated with
implementing and executing a company's strategy? - ✔️✔️Pushing employees to work hard, do
their very best, and meet or beat the established performance targets--- employees that fall
short on these criteria must be quickly weeded out
The difference between the concept of a company mission statement and the concept of a
strategic vision is that - ✔️✔️a mission statement typically concerns a company's present
business scope and purpose ("who we are, what we do, and why we are here") whereas the
principal concern of a strategic vision is with the company's future direction and "where we are
going"
Which of the following is not a common shortcoming of company vision statements? - ✔️✔️Too
focused on long-term revenue growth and profitability
A company's strategic plan consists of - ✔️✔️a vision of where it is headed, a set of performance
targets, and a strategy to achieve them
A company with strategic intent is one that - ✔️✔️has an unshakable commitment to a particular
vision
While doing the necessary detective work can be tedious and time-consuming, studying the
strategies and situations of rival companies (most especially close rivals) well enough to be able
to anticipate many of their next moves has the big advantage of - ✔️✔️enabling managers to
prepare effective countermoves (perhaps to even beat a rival to the punch) and to take rivals
probable actions into account in crafting their own best course of action
Factors that weaken the rivalry among competing sellers include - ✔️✔️high buyer costs to
switch brands, so many industry rivals that any one company's actions have little impact on
rivals' businesses, and rapid growth in buyer demand
