Strategic Management - Study Mode
[#256] Cross-functional teams are:
Correct Answer
(D) a small group of people from different departments who are mutually accountable to a common set of performance goals
Explanation
Solution: Cross-functional teams are a small group of people from different departments who are mutually accountable to a common set of performance goals. A cross-functional team is a group of people with different functional expertise working toward a common goal. It may include people from finance, marketing, operations, and human resources departments. Typically, it includes employees from all levels of an organization.
[#257] What is the starting point of strategic intent?
Correct Answer
(D) Vision
Explanation
Solution: Vision is the starting point of strategic intent. The fundamental purpose of strategic planning is to align a company's mission with its vision. Without mission and vision, the plan exists in a vacuum, as the mission is the starting point for planning, the vision is the destination, and the strategic plan is the roadmap that helps you navigate from one to the other.
[#258] Corporate level strategy deals with:
Correct Answer
(C) objectives of the corporate
Explanation
Solution: Corporate level strategy deals with objectives of the corporate. we can simply say that corporate level strategies are concerned with questions about what business to compete in. Corporate Strategy involves the careful analysis of the selection of businesses the company can successful compete in. Corporate level strategies affect the entire organization and are considered delicate in the strategic planning process.
[#259] From the following activity which does not comes under the primary activities of value Chain analysis:
Correct Answer
(B) Technology development
Explanation
Solution: Technology development activity does not comes under the primary activities of value Chain analysis. Value chain analysis is a strategy tool used to analyze internal firm activities. Its goal is to recognize, which activities are the most valuable (i.e. are the source of cost or differentiation advantage) to the firm and which ones could be improved to provide competitive advantage.
[#260] Which of the following can be identified as a best statement that represents a firms big picture statements, describing a desired end state, general in scope and not restrictive?
Correct Answer
(C) Vision statement
Explanation
Solution: Vision statement can be identified as a best statement that represents a firms big picture statements, describing a desired end state, general in scope and not restrictive. A vision statement is an organization's declaration of its mid-term and long-term goals, stating what they want to become in the future. Vision statements act as a goal for a company to strive toward.