BUSI 4940
Simplified Exam Questions with 100% Correct Answers
Strategy - Decision makers, general priorities, medium term, declaring, stable, direction
Tactics - Operational executors, specific actions, short-term, doing, changing, map
Vision, mission and values - Are very useful, but also very general leadership tools. Properly
developed, they will inspire an organization and give it a basic sense of direction and broad
guidelines for getting there.
Strategic Planning - The approach to undertaking strategic analysis on a recurring basis and it
deals with who develops the strategy, how it happens and when it takes place.
Strategy - A concrete expression of how an organization intends to compete and win in its
marketplace.
Strategy is the definitive tool for - Building, communicating, and maintaining the direction of a
business.
The intention of strategy - Is to take the basic ideas of a business, such as those reflected in the
vision, mission, and values, and to express them in operational terms - in terms that are directly
useful for analysis and action.
The nature of strategic actions - They involve major investments; They have long-term
implications, often in multiple areas; They often involve a significant amount of risk/uncertainty.
We define a firm's strategy as encompassing - 1) A Product & Market Focus, 2) Goals, 3) A
Value Proposition, and 4) A description of Core Activities.
, Strategy provides a vehicle for you - To translate general ideas about direction and performance
into more explicit, actionable terms.
Strategy provides a touchstone for - Continuous improvement. It puts your interpretation of
vision, mission, and values into a testable framework that an be used to reinforce continuity
where appropriate and to drive change where necessary.
Strategy provides general managers with - An everyday tool to help keep their organizations on
track and to put their effort where it really counts.
Business level strategy differs from corporate strategy in that - Business level strategy focuses on
how an organization will create value within a particular line of business, whereas corporate
strategy deals with the portfolio of business strategies and how they relate to each other.
Strategic Goals - An expression, in measurable terms, of what a business intends to achieve -
absolutely and relative to competition.
Hard Goals - Focus on the aims and performance of the business as a classic competitive entity.
They identify financial and marketplace targets and time frames, and are relatively easy to
express in measurable terms.
Soft Goals - Set out targets for the social conduct of the business. They focus on the intentions of
the business with respect to its managers, employees, and in the community at large. May be
overlooked in strategic analyses that focus too narrowly on a faceless economic conception of a
business. They are also more difficult to state in measurable terms.
Two things are worth keeping in mind when evaluating and/or establishing the goals of a
company. - First, the goals need to be stated in terms that can be measured. Second, goals need to
work together and, in most instances, be developed into a structure that identifies which goals
take priority.
Simplified Exam Questions with 100% Correct Answers
Strategy - Decision makers, general priorities, medium term, declaring, stable, direction
Tactics - Operational executors, specific actions, short-term, doing, changing, map
Vision, mission and values - Are very useful, but also very general leadership tools. Properly
developed, they will inspire an organization and give it a basic sense of direction and broad
guidelines for getting there.
Strategic Planning - The approach to undertaking strategic analysis on a recurring basis and it
deals with who develops the strategy, how it happens and when it takes place.
Strategy - A concrete expression of how an organization intends to compete and win in its
marketplace.
Strategy is the definitive tool for - Building, communicating, and maintaining the direction of a
business.
The intention of strategy - Is to take the basic ideas of a business, such as those reflected in the
vision, mission, and values, and to express them in operational terms - in terms that are directly
useful for analysis and action.
The nature of strategic actions - They involve major investments; They have long-term
implications, often in multiple areas; They often involve a significant amount of risk/uncertainty.
We define a firm's strategy as encompassing - 1) A Product & Market Focus, 2) Goals, 3) A
Value Proposition, and 4) A description of Core Activities.
, Strategy provides a vehicle for you - To translate general ideas about direction and performance
into more explicit, actionable terms.
Strategy provides a touchstone for - Continuous improvement. It puts your interpretation of
vision, mission, and values into a testable framework that an be used to reinforce continuity
where appropriate and to drive change where necessary.
Strategy provides general managers with - An everyday tool to help keep their organizations on
track and to put their effort where it really counts.
Business level strategy differs from corporate strategy in that - Business level strategy focuses on
how an organization will create value within a particular line of business, whereas corporate
strategy deals with the portfolio of business strategies and how they relate to each other.
Strategic Goals - An expression, in measurable terms, of what a business intends to achieve -
absolutely and relative to competition.
Hard Goals - Focus on the aims and performance of the business as a classic competitive entity.
They identify financial and marketplace targets and time frames, and are relatively easy to
express in measurable terms.
Soft Goals - Set out targets for the social conduct of the business. They focus on the intentions of
the business with respect to its managers, employees, and in the community at large. May be
overlooked in strategic analyses that focus too narrowly on a faceless economic conception of a
business. They are also more difficult to state in measurable terms.
Two things are worth keeping in mind when evaluating and/or establishing the goals of a
company. - First, the goals need to be stated in terms that can be measured. Second, goals need to
work together and, in most instances, be developed into a structure that identifies which goals
take priority.
