16. The challenge posed by a strategic purpose is to close the gap between the f
ID: 464600 • Letter: 1
Question
16. The challenge posed by a strategic purpose is to close the gap between the firm's aspirations and its current ________.
A.) capabilities and market positions
B.) productivity level
C) personnel numbers
D) return on invested capital (ROIC)
17.) The symmetrical coalignment of the five elements of a firm's strategy diamond contributes to ________.
A) a firm's complexity
B) future balance
C) strategic purpose
D) strategic coherence
18.) Most strategic decisions require a tradeoff between ________.
A) vision and mission
B) efficiency and effectiveness
C) strategic purpose and strategic coherence
D) short-term and long-term goals
19.) Which of the following is not one of the five elements of the strategy diamond?
A) vision
B) vehicles
C) staging
D) economic logic
20.) The stakeholder group composed of the CEO and the members of the top-management team is important for which of the following reasons?
A) its responsibility for formulating a strategy that realizes the vision and mission
B) its influence over the shareholders and board of directors
C) its role in environmental scanning
D) its responsibility for encouraging teamwork
21.) Product-market stakeholders include all of the following except ________.
A) suppliers
B) customers
C) shareholders
D) distributors
Explanation / Answer
The challenge posed by a strategic purpose is to close the gap between the firm's aspirations and its current capabilities and market positions.
The symmetrical coalignment of the five elements of a firm's strategy diamond contributes to strategic coherence.
Most strategic decisions require a tradeoff between short-term and long-term goals. Strategic decisions are mainly discussion for sacrificing short term goals for long term benefits and the value derived from the decision made.
Which of the following is not one of the five elements of the strategy diamond - vision. Five diamonds are Arenas, Staging, Vehicles, Economic Logic and Differentiation.
The stakeholder group composed of the CEO and the members of the top-management team is important for which of the following reasons - its responsibility for formulating a strategy that realizes the vision and mission. The CEO and the top management are considered the think tank of any organization hence its main function is to create a strategy that the employees adhere to for achievement of organizational objectives.
Product-market stakeholders include all of the following except shareholders. They are not concerned with product but the return on their investments.
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