Once company managers have decided on a strategy, the emphasis turns to a. empowering employees to revise and reorganize value chain activities to match the strategy.
Once company managers have decided on a strategy, the emphasis turns to
a. empowering employees to revise and reorganize value chain activities to match the strategy.
b. establishing policies and procedures that instruct company personnel in the ways and means of executing the strategy.
c. converting the strategy into actions and good results.
d. building the core competencies and competitive capabilities needed to execute the strategy.
e.
developing a detailed implementation plan that sets forth exactly what every department and every manager needs to do to proficiently execute the company’s strategy.
2. Strategy execution
a. requires revamping the value chain in order to maximize operating efficiency.
b. depends on management’s ability to direct organizational change.
c. involves selecting a capable management team.
d. requires deciding which core competencies and value chain activities to leave as is and which ones to overhaul and improve.
e.
consists of choosing among broad or narrow low-cost and differentiation strategies to compete against rivals.
3. The managerial approach to implementing and executing a strategy should always
a. involve only minor changes to the existing strategy.
b. rely on the active support of frontline employees.
c. be customized to fit the particulars of a company’s situation.
d. require radical strategy changes for successful execution.
e. focus on market conditions and the company’s resources and capabilities.
4. What does a good strategy execution require?
a. additional investments in capital projects rather than adding to a company’s talent base and building intellectual capital
b. a team effort with all managers having strategy executing responsibility in their areas of authority, and making all employees active participants in the strategy execution process
c. the strategy-critical value chain activities to be simplified so that all company personnel can be cognizant of the benefits of the execution parameters
d. incremental changes to current operating practices be implemented to ensure existing resource capabilities are not impacted too severely
e. little consensus building, despite the magnitude of the proposed changes, because employees know the benefits gained from the planning process
5. The three components of building a capable organization are
a. making periodic changes in the firm’s internal organization to keep people from getting into a comfortable rut, instituting a decentralized approach to decision-making, and developing the appropriate competencies and capabilities.
b. optimizing the number of core competencies and competitive capabilities, making sure that all managers and employees are empowered, and maximizing internal operating efficiency.
c. putting a centralized decision-making structure in place, determining who should have responsibility for each value chain activity, and aligning the corporate culture with key policies, procedures, and operating practices.
d. hiring a capable top management team, empowering employees, and establishing a strategy-supportive corporate culture.
e. staffing the organization, building core competencies and competitive capabilities, and structuring the organization and work effort.
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