Executive Leadership IIBM

Strategic management primarily focuses on:

• Short-term profits

• Employee satisfaction

• Long-term organizational success

• Operational cost-cutting

The first step in the strategic management process is:

• Evaluation

• Environmental scanning

• Strategy implementation

• Marketing

A mission statement answers:

• What the organization dreams of becoming

• Why the organization exists

• Who is the CEO

• How competitors behave

Which of the following is NOT a characteristic of a good vision statement?

• Inspirational

• Future-oriented

• Time-bound

• Broad

Strategic intent was coined by:

• Michael Porter

• Henry Mintzberg

• Gary Hamel and C.K. Prahalad

• Peter Drucker

SMART objectives are:

• Strategic, Measurable, Accurate, Realistic, Time-bound

• Specific, Measurable, Achievable, Relevant, Time-bound

• Simple, Measurable, Actionable, Reliable, Tested

• Structured, Measured, Applied, Reasonable, Timed

Vision focuses on the:

• Past

• Present

• Immediate issues

• Future

An example of a vision statement is:

• To offer the best discounts

• To innovate through culture

• To create a better everyday life for the many people

• To sell fast food quickly

The strategic management process is:

• Linear

• Static

• Cyclical

• Non-repetitive

Goals are:

• Always vague

• General long-term targets

• Time-specific

• Measured weekly