Strategy Implementation Quiz

<p>Need, efficiency, and return on investment. (A)</p> Signup and view all the answers

<p>To create necessary conditions and facilities for the strategy implementation. (B)</p> Signup and view all the answers

<p>Without following the procedure, no implementation can be effective. (A)</p> Signup and view all the answers

<p>Money to different departments is provided through formal budgets. (A)</p> Signup and view all the answers

<p>Which would make the best use of those funds in achieving the company’s objective. (C)</p> Signup and view all the answers

<p>Ensuring political activities align with organizational goals. (B)</p> Signup and view all the answers

<p>Poor strategy implementation due to different perceptions. (A)</p> Signup and view all the answers

<p>Reluctance to actively engage with the strategy. (C)</p> Signup and view all the answers

<p>People will naturally prioritize long-term goals. (D)</p> Signup and view all the answers

<p>Formulating strategy and overseeing subordinate execution. (D)</p> Signup and view all the answers

<p>Adapting strategies to reflect changes within the organization. (D)</p> Signup and view all the answers

<p>Collaborative Approach (A)</p> Signup and view all the answers

<p>Empowering them to align with the organization's mission by designing their own work activities. (B)</p> Signup and view all the answers

<p>Subordinates are given the authority to formulate and execute their own strategies. (D)</p> Signup and view all the answers

<p>The procurement strategy of the organization. (B)</p> Signup and view all the answers

<p>Planning while considering the future impact of current decisions. (D)</p> Signup and view all the answers

<p>Risk increases with the time taken to recover costs due to inherent uncertainties. (C)</p> Signup and view all the answers

<p>Focusing resources where they are expected to yield the highest impact. (D)</p> Signup and view all the answers

<p>It provides a framework for planning and allocating resources to different units. (B)</p> Signup and view all the answers

<p>The organization takes on a higher level of risk due to the extended time horizon for cost recovery. (B)</p> Signup and view all the answers

<p>By providing data for objective evaluation of resource needs across units, enhancing strategic allocation. (C)</p> Signup and view all the answers

<p>Capital budgeting (C)</p> Signup and view all the answers

<p>Zero-base budgeting (A)</p> Signup and view all the answers

<p>Identifying activities and assignments for which a manager is accountable. (C)</p> Signup and view all the answers

<p>Performance budgeting (B)</p> Signup and view all the answers

<p>It does not adequately address human resource allocation. (A)</p> Signup and view all the answers

<p>Allocating resources to strategic business units. (B)</p> Signup and view all the answers

<p>It eliminates unnecessary activities and focuses on organizational objectives. (B)</p> Signup and view all the answers

<p>What performance and results are to be generated, and what key activities are required to obtain these results? (D)</p> Signup and view all the answers

<p>To provide guidelines for budget preparation at the SBU level. (D)</p> Signup and view all the answers

<p>Corporate policies are established and communicated to SBU heads for budget preparation. (D)</p> Signup and view all the answers

<p>To inform the creation of SBU objectives and strategies. (A)</p> Signup and view all the answers

<p>It considers both financial and non-financial resources for allocation. (C)</p> Signup and view all the answers

<p>The call for budgets from the corporate level. (D)</p> Signup and view all the answers

<p>Preparing preliminary budgets and proposing changes in resource needs. (C)</p> Signup and view all the answers

<p>Corporate objectives guide the development of SBU objectives and strategies. (D)</p> Signup and view all the answers

<p>To ensure resources have maximum contribution where these are really required. (C)</p> Signup and view all the answers

<p>Return on investment (A)</p> Signup and view all the answers

<p>Qualified human resources (B)</p> Signup and view all the answers

<p>Financial and human resources are wasted (B)</p> Signup and view all the answers

<p>Changes in corporate strategy (C)</p> Signup and view all the answers

<p>Structure follows strategy (D)</p> Signup and view all the answers

<p>Strategy innovation (C)</p> Signup and view all the answers

<p>Defining the business on the basis of potential areas of market opportunities (A)</p> Signup and view all the answers

<p>To provide short-term plans to accomplish the annual plan (C)</p> Signup and view all the answers

The process of executing a specific, time-limited project to achieve defined goals.

Following required procedures is critical for effective strategy implementation.

Distributing physical, financial, and human resources effectively among departments.

Monetary resources deemed vital for a business's smooth operation and procurement of materials.

A financial plan for allocating funds to capital goods, labor, and expenses.

Budgets that outline expected operational costs within departments.

A metric used to evaluate the efficiency of an investment by comparing gains to costs.

Structured financial plans that dictate how resources are allocated across departments.

Subordinates create and implement strategies independently instead of top management.

Procurement of necessary resources to implement a strategy, based on strategy type and need.

Ways to acquire resources, such as buying, renting, or leasing depending on viability.

Planning today for the future impact of decisions; involves risk assessment.

Steps to distribute resources to various units based on need or contribution potential.

Planning expenditures in advance for resources like money, time, and performance.

A method of allocating financial and other resources to different organizational units.

Budgeting and evaluation methods that work together for effective resource distribution.

Financial, human, and physical resources are linked and essential for success.

The process of organizing staffing and activities to align with business strategy.

An organizational approach that prioritizes outcomes and market opportunities.

Strategies applied in key functional areas like finance and marketing to inform short-term plans.

Identifying potential markets to inform business strategies and objectives.

Identifying skills needed to achieve business objectives and strategize successfully.

Deciding the level of decision-making power within an organization to streamline operations.

Having qualified personnel is crucial for utilizing financial and physical resources efficiently.

The interlinked power relationships that influence strategy implementation.

The duty of strategists to align organizational politics with goals.

A top-down method where management devises and delegates strategy.

Implementing strategy while considering organizational changes and new priorities.

A collective strategy development that includes input from all managers.

Empowering employees to align their work with organizational mission and vision.

A bottom-up strategy development approach originating from lower management.

Factors that hinder effective execution of strategies, including differing perspectives.

A plan for deploying financial resources to maximize long-term profitability.

Methods used to evaluate potential investments, like NPV and ROI.

A method emphasizing non-financial measurements for evaluating performance.

A budgeting method requiring justification of all expenses from a zero base.

Four steps: identify activities, analyze units, rank units, allocate resources.

Allocating resources based on performance and key activities of business units.

Evaluates outcomes beyond just finances in performance budgeting.

Resource allocation should align with organizational objectives and unit contributions.

Documents outlining environmental and resource issues for budget preparation.

Budgets prepared by Strategic Business Units based on corporate guidelines.

Goals and strategies set at the top level of an organization.