DOWNLOAD THE Test Bank for Crafting and Executing Strategy Concepts and Cases
y y y y y y y y y y y y
22nd Edition Thompson
y y
CraftingyandyExecutingyStrategy,y22ey(Thompson)y
Chaptery2 ChartingyayCompany'syDirection
1) Theyfiveybasicytasksyofytheystrategy-making,ystrategy-executingyprocessyDOyNOTyinclude
A) developingyaystrategicyvisionyofywhereytheycompanyyneedsytoyheadyandywhatyitsyfutureybusinessy
makeupywillybe.
B) strategicymanagementytoyconvertytheystrategicyvisionyintoyspecificystrategicyandyfinancialy
performanceyoutcomesyforytheycompanyytoyachieve.
C) craftingyaystrategyytoyachieveytheyobjectivesyandygetytheycompanyywhereyitywantsytoygo.
D) developingyayprofitableybusinessymodel.
E) executingytheychosenystrategyyefficientlyyandyeffectively.
Answer:y y D
Explanation:y Theyprocessyofycraftingyandyexecutingyaycompany'systrategyyisyanyongoing,ycontinuo
usyprocessyconsistingyofyfiveyinterrelatedystages:ydevelopingyaystrategicyvisionythatychartsytheycomp
any'sylong-
termydirection;ystrategicymanagementyforymeasuringytheycompany'syperformanceyandytrackingyitsypr
ogressyinymovingyinytheyintendedylong-
termydirection;ycraftingyaystrategyyforyadvancingytheycompanyyalongytheypathymanagementyhasychar
tedyandyachievingyitsyperformanceyobjectives;yexecutingytheychosenystrategyyefficientlyyandyeffectiv
ely;yandymonitoringydevelopments,yevaluatingyperformance,yandyinitiatingycorrectiveyadjustmentsyi
nytheycompany'syvisionyandymissionystatement,yobjectives,ystrategy,yoryapproachytoystrategyyexecuti
onyinylightyofyactualyexperience,ychangingyconditions,ynewyideas,yandynewyopportunities.
Difficulty:y1yEasy
Topic:y TheyRolesyofyVision,yMission,yandyValuesyinytheyStrategicyManagementyProcessyLearning
yObjective: y 02-
01yWhyyityisycriticalyforymanagersytoyhaveyayclearystrategicyvisionyofywhereytheycompanyyneedsytoyh
ead.
Bloom's:y y Remember
AACSB:y KnowledgeyApplicationyAccessib
ility:y KeyboardyNavigation
1
Copyrighty©y2020yMcGraw-HillyEducation.yAllyrightsyreserved.
NoyreproductionyorydistributionywithoutytheypriorywrittenyonsentyofyMcGraw-HillyEducation.
mynursytest.store
,DOWNLOAD THE Test Bank for Crafting and Executing Strategy Concepts and Cases
y y y y y y y y y y y y
22nd Edition Thompson
y y
2) Aycompany'systrategicyplan
A) mapsyoutytheycompany'syhistory.
B) linksytheycompany'syfinancialytargetsytoycontrolymechanisms.
C) outlinesytheycompetitiveymovesyandyapproachesytoybeyusedyinyachievingytheydesiredybusinessyr
esults.
D) focusesyonyofferingyaymoreyappealingyproductythanyrivals.
E) listsymethodsyofymakingymoneyyinyitsychosenybusiness.
Answer:y y C
Explanation:y Aystrategicyplanymapsyoutywhereyaycompanyyisyheaded,yestablishesystrategicyandyfin
ancialytargets,yandyoutlinesytheycompetitiveymovesyandyapproachesytoybeyusedyinyachievingytheydesi
redybusinessyresults.
Difficulty:y1yEasy
Topic:y y StrategyyandytheyStrategicyManagementyProcess
LearningyObjective:y 02-
01yWhyyityisycriticalyforymanagersytoyhaveyayclearystrategicyvisionyofywhereytheycompanyyneedsytoyh
ead.
Bloom's:y y Remember
AACSB:y KnowledgeyApplicationyAccessib
ility:y KeyboardyNavigation
3) Anyintegralypartyofytheymanagerialyprocessyofycraftingyandyexecutingystrategyyincludes
A) developingyayprovenybusinessymodel.
B) decidingyhowymuchyofytheycompany'syresourcesytoyemployyinytheypursuityofysustainableyc
ompetitiveyadvantage.
C) developingyaystrategicyvision.
D) communicatingytheycompany'syvaluesyandycodeyofyconductytoyallyemployees.
E) decidingyonytheycompany'systrategicyintent.
Answer:y y C
Explanation:y Theyprocessyofycraftingyandyexecutingyaycompany'systrategyyisyanyongoing,ycontinuo
usyprocessyconsistingyofyfiveyinterrelatedystages:ydevelopingyaystrategicyvisionythatychartsytheycomp
any'sylong-
termydirection;yutilizingystrategicymanagementyforymeasuringytheycompany'syperformanceyandytrac
kingyitsyprogressyinymovingyinytheyintendedylong-
termydirection;ycraftingyaystrategyyforyadvancingytheycompanyyalongytheypathymanagementyhasychar
tedyandyachievingyitsyperformanceyobjectives;yexecutingytheychosenystrategyyefficientlyyandyeffectiv
ely;yandymonitoringydevelopments,yevaluatingyperformance,yandyinitiatingycorrectiveyadjustmentsyi
nytheycompany'syvisionyandymissionystatement,yobjectives,ystrategy,yoryapproachytoystrategyyexecuti
onyinylightyofyactualyexperience,ychangingyconditions,ynewyideas,yandynewyopportunities.
Difficulty:y1yEasy
Topic:y y StrategyyandytheyStrategicyManagementyProcess
LearningyObjective:y 02-
01yWhyyityisycriticalyforymanagersytoyhaveyayclearystrategicyvisionyofywhereytheycompanyyneedsytoyh
ead.
Bloom's:y y Remember
AACSB:y KnowledgeyApplicationyAccessib
2
Copyrighty©y2020yMcGraw-HillyEducation.yAllyrightsyreserved.
NoyreproductionyorydistributionywithoutytheypriorywrittenyonsentyofyMcGraw-HillyEducation.
mynursytest.store
,DOWNLOAD THE Test Bank for Crafting and Executing Strategy Concepts and Cases
y y y y y y y y y y y y
22nd Edition Thompson
y y
ility:y KeyboardyNavigation
3
Copyrighty©y2020yMcGraw-HillyEducation.yAllyrightsyreserved.
NoyreproductionyorydistributionywithoutytheypriorywrittenyonsentyofyMcGraw-HillyEducation.
mynursytest.store
, DOWNLOAD THE Test Bank for Crafting and Executing Strategy Concepts and Cases
y y y y y y y y y y y y
22nd Edition Thompson y y
4) Integralypartsyofytheymanagerialyprocessyofycraftingyandyexecutingystrategyyinclude
A) developingyaystrategicyvision,ystrategicymanagement,yandycraftingyaystrategy.
B) developingyayprovenybusinessymodel,ydecidingyonytheycompany'systrategicyintent,yandycraftingya
ystrategy.
C) strategicymanagement,ycraftingyaystrategy,yimplementingyandyexecutingytheychosenystrategy,y
andydecidingyhowymuchyofytheycompany'syresourcesytoyemployyinytheypursuityofysustainableycom
petitiveyadvantage.
D) comingyupywithyaystatementyofytheycompany'symissionyandypurpose,ystrategicymanagement,yc
hoosingywhatybusinessyapproachesytoyemploy,yselectingyaybusinessymodel,yandymonitoringydev
elopments.
E) decidingyonytheycompany'systrategicyintent,ysettingyfinancialyobjectives,ycraftingyaystrategy,yandyc
hoosingywhatybusinessyapproachesyandyoperatingypracticesytoyemploy.
Answer:y y A
Explanation:y Theyprocessyofycraftingyandyexecutingyaycompany'systrategyyisyanyongoing,ycontinuou
syprocessyconsistingyofyfiveyinterrelatedystages:ydevelopingyaystrategicyvisionythatychartsytheycompa
ny'sylong-
termydirection;yutilizingystrategicymanagementyforymeasuringytheycompany'syperformanceyandytrac
kingyitsyprogressyinymovingyinytheyintendedylong-
termydirection;ycraftingyaystrategyyforyadvancingytheycompanyyalongytheypathymanagementyhasychar
tedyandyachievingyitsyperformanceyobjectives;yexecutingytheychosenystrategyyefficientlyyandyeffectiv
ely;yandymonitoringydevelopments,yevaluatingyperformance,yandyinitiatingycorrectiveyadjustmentsyi
nytheycompany'syvisionyandymissionystatement,yobjectives,ystrategy,yoryapproachytoystrategyyexecuti
onyinylightyofyactualyexperience,ychangingyconditions,ynewyideas,yandynewyopportunities.
Difficulty:y1yEasy
Topic:y TheyRolesyofyVision,yMission,yandyValuesyinytheyStrategicyManagementyProcessyLearning
yObjective: y 02-
01yWhyyityisycriticalyforymanagersytoyhaveyayclearystrategicyvisionyofywhereytheycompanyyneedsytoyh
ead.
Bloom's:y y Remember
AACSB:y KnowledgeyApplicationyAccessib
ility:y KeyboardyNavigation
4
Copyrighty©y2020yMcGraw-HillyEducation.yAllyrightsyreserved.
NoyreproductionyorydistributionywithoutytheypriorywrittenyonsentyofyMcGraw-HillyEducation.
mynursytest.store
y y y y y y y y y y y y
22nd Edition Thompson
y y
CraftingyandyExecutingyStrategy,y22ey(Thompson)y
Chaptery2 ChartingyayCompany'syDirection
1) Theyfiveybasicytasksyofytheystrategy-making,ystrategy-executingyprocessyDOyNOTyinclude
A) developingyaystrategicyvisionyofywhereytheycompanyyneedsytoyheadyandywhatyitsyfutureybusinessy
makeupywillybe.
B) strategicymanagementytoyconvertytheystrategicyvisionyintoyspecificystrategicyandyfinancialy
performanceyoutcomesyforytheycompanyytoyachieve.
C) craftingyaystrategyytoyachieveytheyobjectivesyandygetytheycompanyywhereyitywantsytoygo.
D) developingyayprofitableybusinessymodel.
E) executingytheychosenystrategyyefficientlyyandyeffectively.
Answer:y y D
Explanation:y Theyprocessyofycraftingyandyexecutingyaycompany'systrategyyisyanyongoing,ycontinuo
usyprocessyconsistingyofyfiveyinterrelatedystages:ydevelopingyaystrategicyvisionythatychartsytheycomp
any'sylong-
termydirection;ystrategicymanagementyforymeasuringytheycompany'syperformanceyandytrackingyitsypr
ogressyinymovingyinytheyintendedylong-
termydirection;ycraftingyaystrategyyforyadvancingytheycompanyyalongytheypathymanagementyhasychar
tedyandyachievingyitsyperformanceyobjectives;yexecutingytheychosenystrategyyefficientlyyandyeffectiv
ely;yandymonitoringydevelopments,yevaluatingyperformance,yandyinitiatingycorrectiveyadjustmentsyi
nytheycompany'syvisionyandymissionystatement,yobjectives,ystrategy,yoryapproachytoystrategyyexecuti
onyinylightyofyactualyexperience,ychangingyconditions,ynewyideas,yandynewyopportunities.
Difficulty:y1yEasy
Topic:y TheyRolesyofyVision,yMission,yandyValuesyinytheyStrategicyManagementyProcessyLearning
yObjective: y 02-
01yWhyyityisycriticalyforymanagersytoyhaveyayclearystrategicyvisionyofywhereytheycompanyyneedsytoyh
ead.
Bloom's:y y Remember
AACSB:y KnowledgeyApplicationyAccessib
ility:y KeyboardyNavigation
1
Copyrighty©y2020yMcGraw-HillyEducation.yAllyrightsyreserved.
NoyreproductionyorydistributionywithoutytheypriorywrittenyonsentyofyMcGraw-HillyEducation.
mynursytest.store
,DOWNLOAD THE Test Bank for Crafting and Executing Strategy Concepts and Cases
y y y y y y y y y y y y
22nd Edition Thompson
y y
2) Aycompany'systrategicyplan
A) mapsyoutytheycompany'syhistory.
B) linksytheycompany'syfinancialytargetsytoycontrolymechanisms.
C) outlinesytheycompetitiveymovesyandyapproachesytoybeyusedyinyachievingytheydesiredybusinessyr
esults.
D) focusesyonyofferingyaymoreyappealingyproductythanyrivals.
E) listsymethodsyofymakingymoneyyinyitsychosenybusiness.
Answer:y y C
Explanation:y Aystrategicyplanymapsyoutywhereyaycompanyyisyheaded,yestablishesystrategicyandyfin
ancialytargets,yandyoutlinesytheycompetitiveymovesyandyapproachesytoybeyusedyinyachievingytheydesi
redybusinessyresults.
Difficulty:y1yEasy
Topic:y y StrategyyandytheyStrategicyManagementyProcess
LearningyObjective:y 02-
01yWhyyityisycriticalyforymanagersytoyhaveyayclearystrategicyvisionyofywhereytheycompanyyneedsytoyh
ead.
Bloom's:y y Remember
AACSB:y KnowledgeyApplicationyAccessib
ility:y KeyboardyNavigation
3) Anyintegralypartyofytheymanagerialyprocessyofycraftingyandyexecutingystrategyyincludes
A) developingyayprovenybusinessymodel.
B) decidingyhowymuchyofytheycompany'syresourcesytoyemployyinytheypursuityofysustainableyc
ompetitiveyadvantage.
C) developingyaystrategicyvision.
D) communicatingytheycompany'syvaluesyandycodeyofyconductytoyallyemployees.
E) decidingyonytheycompany'systrategicyintent.
Answer:y y C
Explanation:y Theyprocessyofycraftingyandyexecutingyaycompany'systrategyyisyanyongoing,ycontinuo
usyprocessyconsistingyofyfiveyinterrelatedystages:ydevelopingyaystrategicyvisionythatychartsytheycomp
any'sylong-
termydirection;yutilizingystrategicymanagementyforymeasuringytheycompany'syperformanceyandytrac
kingyitsyprogressyinymovingyinytheyintendedylong-
termydirection;ycraftingyaystrategyyforyadvancingytheycompanyyalongytheypathymanagementyhasychar
tedyandyachievingyitsyperformanceyobjectives;yexecutingytheychosenystrategyyefficientlyyandyeffectiv
ely;yandymonitoringydevelopments,yevaluatingyperformance,yandyinitiatingycorrectiveyadjustmentsyi
nytheycompany'syvisionyandymissionystatement,yobjectives,ystrategy,yoryapproachytoystrategyyexecuti
onyinylightyofyactualyexperience,ychangingyconditions,ynewyideas,yandynewyopportunities.
Difficulty:y1yEasy
Topic:y y StrategyyandytheyStrategicyManagementyProcess
LearningyObjective:y 02-
01yWhyyityisycriticalyforymanagersytoyhaveyayclearystrategicyvisionyofywhereytheycompanyyneedsytoyh
ead.
Bloom's:y y Remember
AACSB:y KnowledgeyApplicationyAccessib
2
Copyrighty©y2020yMcGraw-HillyEducation.yAllyrightsyreserved.
NoyreproductionyorydistributionywithoutytheypriorywrittenyonsentyofyMcGraw-HillyEducation.
mynursytest.store
,DOWNLOAD THE Test Bank for Crafting and Executing Strategy Concepts and Cases
y y y y y y y y y y y y
22nd Edition Thompson
y y
ility:y KeyboardyNavigation
3
Copyrighty©y2020yMcGraw-HillyEducation.yAllyrightsyreserved.
NoyreproductionyorydistributionywithoutytheypriorywrittenyonsentyofyMcGraw-HillyEducation.
mynursytest.store
, DOWNLOAD THE Test Bank for Crafting and Executing Strategy Concepts and Cases
y y y y y y y y y y y y
22nd Edition Thompson y y
4) Integralypartsyofytheymanagerialyprocessyofycraftingyandyexecutingystrategyyinclude
A) developingyaystrategicyvision,ystrategicymanagement,yandycraftingyaystrategy.
B) developingyayprovenybusinessymodel,ydecidingyonytheycompany'systrategicyintent,yandycraftingya
ystrategy.
C) strategicymanagement,ycraftingyaystrategy,yimplementingyandyexecutingytheychosenystrategy,y
andydecidingyhowymuchyofytheycompany'syresourcesytoyemployyinytheypursuityofysustainableycom
petitiveyadvantage.
D) comingyupywithyaystatementyofytheycompany'symissionyandypurpose,ystrategicymanagement,yc
hoosingywhatybusinessyapproachesytoyemploy,yselectingyaybusinessymodel,yandymonitoringydev
elopments.
E) decidingyonytheycompany'systrategicyintent,ysettingyfinancialyobjectives,ycraftingyaystrategy,yandyc
hoosingywhatybusinessyapproachesyandyoperatingypracticesytoyemploy.
Answer:y y A
Explanation:y Theyprocessyofycraftingyandyexecutingyaycompany'systrategyyisyanyongoing,ycontinuou
syprocessyconsistingyofyfiveyinterrelatedystages:ydevelopingyaystrategicyvisionythatychartsytheycompa
ny'sylong-
termydirection;yutilizingystrategicymanagementyforymeasuringytheycompany'syperformanceyandytrac
kingyitsyprogressyinymovingyinytheyintendedylong-
termydirection;ycraftingyaystrategyyforyadvancingytheycompanyyalongytheypathymanagementyhasychar
tedyandyachievingyitsyperformanceyobjectives;yexecutingytheychosenystrategyyefficientlyyandyeffectiv
ely;yandymonitoringydevelopments,yevaluatingyperformance,yandyinitiatingycorrectiveyadjustmentsyi
nytheycompany'syvisionyandymissionystatement,yobjectives,ystrategy,yoryapproachytoystrategyyexecuti
onyinylightyofyactualyexperience,ychangingyconditions,ynewyideas,yandynewyopportunities.
Difficulty:y1yEasy
Topic:y TheyRolesyofyVision,yMission,yandyValuesyinytheyStrategicyManagementyProcessyLearning
yObjective: y 02-
01yWhyyityisycriticalyforymanagersytoyhaveyayclearystrategicyvisionyofywhereytheycompanyyneedsytoyh
ead.
Bloom's:y y Remember
AACSB:y KnowledgeyApplicationyAccessib
ility:y KeyboardyNavigation
4
Copyrighty©y2020yMcGraw-HillyEducation.yAllyrightsyreserved.
NoyreproductionyorydistributionywithoutytheypriorywrittenyonsentyofyMcGraw-HillyEducation.
mynursytest.store
