Non-Financial Benefits in Organizational Strategy
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Questions and Answers

How can companies overcome hurdles fast and at low cost according to the text?

  • By focusing on empowering top executives
  • By sticking to conventional wisdom
  • By utilizing tipping point leadership (correct)
  • By increasing resources and extending timelines
  • What is the key factor in motivating key players to carry out a break from the status quo?

  • Empowering junior level employees
  • Utilizing tipping point leadership (correct)
  • Providing excessive resources
  • Implementing conventional leadership techniques
  • Why do many companies find resources in short supply despite a shift in strategy?

  • Due to the assumption that greater strategy shifts require more resources (correct)
  • Due to excessive resources being allocated elsewhere
  • Because of insufficient funding provided by stakeholders
  • Because of effective utilization of tipping point leadership
  • What is the perceived wisdom that companies need to abandon to achieve change effectively?

    <p>Conventional wisdom on effecting change</p> Signup and view all the answers

    Which leadership approach helps in winning employees’ backing in executing a break from the status quo as per the text?

    <p>Tipping point leadership</p> Signup and view all the answers

    Why can fluidity be more important than a finely tuned strategic compass in an uncertain world?

    <p>It allows for adaptation to rapid changes and ambiguity.</p> Signup and view all the answers

    What is the primary consequence of internalizing a strategy into a corporate culture?

    <p>Potential emergence of group think.</p> Signup and view all the answers

    Which term describes a short-sighted marketing approach that focuses on the company's needs over customer needs?

    <p>Marketing myopia</p> Signup and view all the answers

    What is often a consequence of survivorship bias in strategic management theories?

    <p>Failure to consider theories that have fallen out of favor</p> Signup and view all the answers

    Why might many theories in strategic management fail to build a complete corporate strategy?

    <p>They often lack focus necessary for comprehensive strategy development.</p> Signup and view all the answers

    How can populism or faddishness impact the life cycle of a particular management theory?

    <p>It may cause its application in inappropriate scenarios.</p> Signup and view all the answers

    What is a key non-financial benefit of strategic planning mentioned in the text?

    <p>Improved understanding of competitors' strategies</p> Signup and view all the answers

    Which action is NOT mentioned as a way to improve strategic planning outcomes?

    <p>Building an executive team focused on vertical hierarchy</p> Signup and view all the answers

    What could be a reason for the failure of strategic plans according to the text?

    <p>Failure to overcome organizational hurdles</p> Signup and view all the answers

    What is one aspect of strategic planning that can accelerate the implementation of core strategies?

    <p>Empowering middle managers</p> Signup and view all the answers

    In the context of strategic planning, what is meant by 'red oceans'?

    <p>Comfort zones that hinder growth</p> Signup and view all the answers

    What is a key characteristic of successful strategic planning according to the text?

    <p>'Singing from the same hymnal' organization-wide</p> Signup and view all the answers

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