Which of the following is not a common shortcoming of company vision statements

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Presenting common shortcomings of company vision statements ppt design. Presenting common shortcomings of company vision statements ppt design. This is a common shortcomings of company vision statements ppt design. This is a six stage process. The stages in this process are vague or incomplete, not forward looking, too broad, bland or uninspiring, not distinctive, too reliant on superlatives.

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• 1. 

  Which one of the following is not one of the five basic tasks of the strategy-making, strategy-executing process?

  • A. 

    Forming a strategic vision of where the company needs to head and what its future business make-up will be

  • B. 

    Setting objectives to convert the strategic vision into specific strategic and financial performance outcomes for the company to achieve

  • C. 

    Crafting a strategy to achieve the objectives and get the company where it wants to go

  • D. 

    Developing a profitable business model

  • E. 

    Implementing and executing the chosen strategy efficiently and effectively

• 2. 

  Which of the following is an integral part of the managerial process of crafting and executing strategy?

  • A. 

    Developing a proven business model

  • B. 

    Deciding how much of the company’s resources to employ in the pursuit of sustainable competitive advantage

  • C. 

    Setting objectives and using them as yardsticks for measuring the company’s performance and progress

  • D. 

    Communicating the company’s values and code of conduct to all employees

  • E. 

    Deciding on the company’s strategic intent

• 3. 

  Which of the following are integral parts of the managerial process of crafting and executing strategy?

  • A. 

    Developing a strategic vision, setting objectives, and crafting a strategy

  • B. 

    Developing a proven business model, deciding on the company’s strategic intent, and crafting a strategy

  • C. 

    Setting objectives, crafting a strategy, implementing and executing the chosen strategy, and deciding how much of the company’s resources to employ in the pursuit of sustainable competitive advantage

  • D. 

    Coming up with a statement of the company’s mission and purpose, setting objectives, choosing what business approaches to employ, selecting a business model, and monitoring developments

  • E. 

    Deciding on the company’s strategic intent, setting financial objectives, crafting a strategy, and choosing what business approaches and operating practices to employ

• 4. 

  The strategy-making, strategy-executing process

  • A. 

    Is usually delegated to members of a company's board of directors so as not to infringe on the time of busy executives.

  • B. 

    Includes establishing a company’s mission, developing a business model aimed at making the company an industry leader, and crafting a strategy to implement and execute the business model.

  • C. 

    Embraces the tasks of developing a strategic vision, setting objectives, crafting a strategy, implementing and executing the strategy, and then monitoring developments and initiating corrective adjustments in light of experience, changing conditions, and new opportunities.

  • D. 

    S principally concerned with sizing up an organization's internal and external situation, so as to be prepared for the challenge of developing a sound business model.

  • E. 

    Is primarily the responsibility of top executives and the board of directors; very few managers below this level are involved.

• 5. 

  A company’s strategic vision concerns

  • A. 

    Who we are and what we do.”

  • B. 

    Why the company does certain things in trying to please its customers.

  • C. 

    Management’s storyline of how it intends to make a profit with the chosen strategy.

  • D. 

    A company’s directional path and future product-market-customer-technology focus.

  • E. 

    What future actions the enterprise will likely undertake to outmaneuver rivals and achieve a sustainable competitive advantage.

• 6. 

  A company’s strategic vision

  • A. 

    S management’s story line for how it plans to implement and execute a profitable business model.

  • B. 

    Sets forth what business the company is presently in and why it uses particular operating practices in trying to please customers.

  • C. 

    Delineates management’s aspirations for the business, providing a panoramic view of “where we are going” and a convincing rationale for why this makes good business sense.

  • D. 

    Defines “who we are and what we do.”

  • E. 

    Spells out a company’s strategic intent, its strategic and financial objectives, and the business approaches and operating practices that will underpin its efforts to achieve sustainable competitive advantage.

• 7. 

  Developing a strategic vision for a company entails

  • A. 

    Prescribing a strategic direction for the company to pursue and a rationale for why this strategic path makes good business sense.

  • B. 

    Describing its business model and the kind of value that it is trying to deliver to customers.

  • C. 

    Putting together a story line of why the business will be a moneymaker.

  • D. 

    Describing "who we are and what we do."

  • E. 

    Coming up with a long-term plan for outcompeting rivals and achieving a competitive advantage.

• 8. 

  The managerial task of developing a strategic vision for a company

  • A. 

    Concerns deciding what approach the company should take to implement and execute its business model.

  • B. 

    Entails coming up with a fairly specific answer to "who are we, what do we do, and why are we here?"

  • C. 

    Is chiefly concerned with addressing what a company needs to do to successfully outcompete rivals in the marketplace.

  • D. 

    Involves deciding upon what strategic course a company should pursue in preparing for the future and why this directional path makes good business sense.

  • E. 

    Entails coming up with a persuasive storyline of how the company intends to make money.

• 9. 

  Which one of the following is not an accurate attribute of an organization's strategic vision?

  • A. 

    Providing a panoramic view of "where we are going"

  • B. 

    Outlining how the company intends to implement and execute its business model

  • C. 

    Pointing an organization in a particular direction and charting a strategic path for it to follow

  • D. 

    Helping mold an organization's character and identity

  • E. 

    Describing the company’s future product-market-customer-technology focus

• 10. 

  Management’s strategic vision for an organization

  • A. 

    Charts a strategic course for the organization (“where we are going”) and provides a rationale for why this directional path makes good sense.

  • B. 

    Describes in fairly specific terms the organization’s strategic intent, strategic objectives, and strategy.

  • C. 

    Spells out how the company will become a big moneymaker and boost shareholder value.

  • D. 

    Addresses the critical issue of “why our business model needs to change and how we plan to change it.”

  • E. 

    Spells out the organization’s strategic intent and the actions and moves that will be undertaken to achieve it.

• 11. 

  What a company’s top executives are saying about where the company is headed and about what the company’s future product-customer-market-technology will be

  • A. 

    Indicates what kind of business model the company is going to have in the future.

  • B. 

    Constitutes their strategic vision for the company.

  • C. 

    Signals what the firm's strategy will be.

  • D. 

    Serves to define the company’s mission.

  • E. 

    Indicates what the company’s long-term strategic plan is.

• 12. 

  One of the important benefits of a well-conceived and well-stated strategic vision is to

  • A. 

    Clearly delineate how the company’s business model will be implemented and executed.

  • B. 

    Clearly communicate management’s aspirations for the company to stakeholders and help steer the energies of company personnel in a common direction.

  • C. 

    Set forth the firm's strategic objectives in clear and fairly precise terms.

  • D. 

    Help create a “balanced scorecard” approach to objective-setting and not stretch the company’s resources too thin across different products, technologies, and geographic markets.

  • E. 

    Indicate what kind of sustainable competitive advantage the company will try to create in the course of becoming the industry leader.

• 13. 

  The defining characteristic of a well-conceived strategic vision is

  • A. 

    What it says about the company’s future strategic course—“the direction we are headed and what our future product-market-customer-technology focus will be.”

  • B. 

    That it not stretch the company’s resources too thin across different products, technologies, and geographic markets.

  • C. 

    Clarity and specificity about “who we are, what we do, and why we are here.”

  • D. 

    That it be flexible and in the mainstream.

  • E. 

    That it be within the realm of what the company can reasonably expect to achieve within 2-4 years.

• 14. 

  Which one of the following questions is not pertinent to company managers in thinking strategically about their company’s directional path and developing a strategic vision?

  • A. 

    Is the outlook for the company promising if it continues with its present product-market-technology-customer focus?

  • B. 

    Are changing market and competitive conditions acting to enhance or weaken the company’s prospects?

  • C. 

    What business approaches and operating practices should we consider in trying to implement and execute our business model?

  • D. 

    What are our ambitions for the company—what industry standing do we want the company to have?

  • E. 

    What, if any, new customer groups and/or geographic markets should the company get in position to serve?

• 15. 

  Which one of the following questions is not something that company managers should consider in choosing to pursue one strategic course or directional path versus another?

  • A. 

    Are changing market and competitive conditions acting to enhance or weaken the company’s business outlook?

  • B. 

    Is the company stretching its resources too thinly by trying to compete in too many markets or segments, some of which are unprofitable?

  • C. 

    Will our present business generate sufficient growth and profitability in the years ahead to please shareholders?

  • D. 

    What emerging market opportunities should the company pursue and which ones should not be pursued?

  • E. 

    Do we have a better business model than key rivals?

• 16. 

  Which of the following are characteristics of an effectively-worded strategic vision statement?

  • A. 

    Balanced, responsible, and rational

  • B. 

    Challenging, competitive, and “set in concrete”

  • C. 

    Graphic, directional, and focused

  • D. 

    Realistic, customer-focused, and market-driven

  • E. 

    Achievable, profitable, and ethical

• 17. 

  Which one of the following is not a characteristic of an effectively-worded strategic vision statement?

  • A. 

    Directional (is forward-looking, describes the strategic course that management has charted and the kinds of product-market-customer-technology changes that will help the company prepare for the future)

  • B. 

    Easy to communicate (is explainable in 10-15 minutes, can be reduced to a memorable slogan)

  • C. 

    Graphic (paints a picture of the kind of company management is trying to create and the market position(s) the company is striving to stake out)

  • D. 

    Consensus-driven (commits the company to a “mainstream” directional path that most all stakeholders will enthusiastically support)

  • E. 

    Focused (is specific enough to provide guidance to managers in making decisions and allocating resources)

• 18. 

  Which of the following is not a common shortcoming of company vision statements?

  • A. 

    Vague or incomplete—short on specifics

  • B. 

    Too narrow—doesn’t leave enough room for future growth

  • C. 

    Bland or uninspiring

  • D. 

    Not distinctive—could apply to most any company (or at least several others in the same industry)

  • E. 

    Too reliant on superlatives (best, most successful, recognized leader, global or worldwide leader, first choice of customers)

• 19. 

  Which of the following are common shortcomings of company vision statements?

  • A. 

    Too specific, too inflexible, and can’t be achieved in 5 years

  • B. 

    Unrealistic, unconventional, and un-businesslike

  • C. 

    Too broad, vague or incomplete, bland/uninspiring, not distinctive, and too reliant on superlatives

  • D. 

    Too broad, too narrow, and too risky

  • E. 

    Not customer-driven, out-of-step with emerging technological trends, and too ambitious

• 20. 

  A company's mission statement typically addresses which of the following questions?

  • A. 

    "Who are we and what do we do?"

  • B. 

    "What objectives and level of performance do we want to achieve?"

  • C. 

    "Where are we going and what should our strategy be?"

  • D. 

    "What approach should we take to achieve sustainable competitive advantage?"

  • E. 

    "What business model should we employ to achieve our objectives and our vision?"

Which of the following is not a common shortcomings of company vision statement?

Which of the following is not a characteristics of an effective vision statement?

Which statement is true about a company's vision?

Which of the following is not among the principal managerial tasks associated with managing the strategy execution process?