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Despite the need to tailor a company's s...View Answer
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A) lengthens response times by those closest to the market conditions because they must seek approval for their actions.
B) does not encourage responsibility among lower-level managers and rank-and-file employees.
C) discourages lower-level managers and rank-and-file employees from exercising any initiative.
D) diverts authority away from those closest to,and most knowledgeable about,the situation for actions.
E) results in higher-level managers being unaware of actions taken by empowered personnel under their supervision.
G) A) and E)
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A) a capable results-oriented management team is not in place.
B) the personnel have different management styles.
C) top managers start asking tough,incisive questions.
D) important details require attention.
E) an additional investment in capital projects is required.
G) B) and E)
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A) Executing strategy calls for essentially the same kinds of creative management talent and innovative thinking as does crafting strategy.
B) Executing strategy is chiefly a financially driven process aimed at squeezing the most profit out of conducting daily operations.
C) Executing strategy is a job for a company's whole management team,not just a few senior managers.
D) Executing strategy depends heavily on the caliber of a CEO's business vision,industry and competitive analysis skills,and entrepreneurial creativity.
E) Executing strategy tends to be a simpler,quicker management task to perform as compared to crafting a winning strategy.
G) C) and D)
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A) Ensure all requirements of the value chain are fulfilled.
B) Form a mission statement as a basis for managers to achieve organizational objectives.
C) Go on the offensive by employing moves to make its product offering more distinctive and appealing to buyers.
D) Put together a talented management team with the right mix of experiences,skills,and abilities to get things done.
E) Strive to be more profitable than rivals and aim for a competitive edge based on bigger profit margins.
G) C) and D)
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In executing strategy and conducting dai...View Answer
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A) making it hard to effectively empower employees.
B) making it difficult to have closely related activities report to a single executive.
C) that pieces of strategically relevant activities and capabilities often end up scattered across many departments,with each pursuing its own priorities,projects,and agendas.
D) impeding the use of outsourcing.
E) making it hard to fix managerial accountability for poor results.
G) A) and B)
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A) putting in high-incentive bonuses to reward individual employees who train hard to develop the desired capability.
B) launching an extensive training effort to develop the capability quickly with newly hired employees.
C) either acquiring a company that has already developed the capability or else acquiring the desired capability through collaborative efforts with outsiders having the requisite skills,know-how,and expertise.
D) using benchmarking and the adoption of best practices to imitate a capability that rivals have already developed.
E) empowering a team of employees to develop the capability however they best see fit.
G) C) and D)
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A) lower costs for employee training.
B) improved strategy execution and a potential for competitive advantage.
C) an increased ability to reduce total operating costs.
D) the added ease with which strategic fit and resource fit benefits can be captured.
E) the enhanced ability to avoid the perils of outsourcing.
G) C) and E)
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A) developing capabilities internally.
B) acquiring capabilities through mergers and acquisitions.
C) accessing capabilities via collaborative partnerships.
D) renewing capabilities to align with customer expectations.
E) coaching average performers to improve their skills.
G) A) and B)
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A) Providing promising employees with challenging,interesting,and skill-stretching assignments and also rotating them through jobs that not only have great content but also span functional and geographic boundaries
B) Providing employees promotions,salary increases,performance bonuses,stock options,and other perks
C) Coaching underperformers and benchwarmers to improve their skills and capabilities
D) Encouraging employees to challenge existing ways of doing things,to be creative and innovative in proposing better ways of operating,and to push their ideas for new products or businesses
E) Fostering a stimulating and engaging work environment such that employees will consider the company a great place to work
G) A) and B)
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A) less internal bureaucracy,speedier decision making,and quicker responses to changing market conditions.
B) facilitating the empowerment of employees (because there are fewer things to do internally) .
C) promoting a total quality management culture.
D) reducing the need to establish a strongly implanted corporate culture.
E) reducing the strategic importance of building valuable core competencies.
G) A) and B)
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A) updating existing capabilities.
B) establishing a new arsenal of resource capabilities by phasing out existing capabilities.
C) refreshing existing capabilities.
D) augmenting or recombining well-established capabilities with existing resources.
E) building resource capabilities from scratch so it is easy and less time-consuming.
G) A) and C)
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A) Building an organization with the competencies,capabilities,and resource strengths needed to execute strategy successfully
B) Instituting policies and procedures that facilitate rather than impede strategy execution
C) Deciding which core competencies and value chain activities to leave as is and which ones to overhaul and improve
D) Adopting best practices and pushing for continuous improvement in how value chain activities are performed
E) Tying rewards directly to the achievement of strategic and financial targets and to good strategy execution
G) A) and B)
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A) Increasing the size of the corporate bureaucracy
B) Reducing a company's response times to changing external events
C) Discouraging lower-level managers and rank-and-file employees from exercising initiative
D) Putting the organization at risk if higher-level management is unaware of their actions
E) Creating more layers of management
G) A) and D)
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A) appointing "relationship managers" and giving them responsibility for making particular strategic partnerships or alliances generate the intended benefits.
B) agreeing with allies to meet frequently and make all decisions pertaining to the alliance on the basis of mutual agreement and consensus.
C) getting each strategic ally to agree to appoint someone as head of the collaborative effort and to give that person the authority to enforce tight coordination of joint activities.
D) forming a 50-50 joint venture with each strategic partner,and then assigning people to the joint venture that has the authority and responsibility to enforce tight coordination.
E) entering into a written agreement detailing the roles and responsibilities of the company and the ally/partner,setting forth the results that are expected,establishing deadlines for achieving these results,and designating the people who are to be responsible for making the collaborative effort work successfully.
G) B) and D)
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The case for empowering down-the-line ma...View Answer
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A) resource strengths and competitive capabilities that allow it to incorporate attributes at lower costs than rivals whose products have similar attributes.
B) the formal and informal arrangement of tasks,responsibilities,lines of authority,and reporting relationships by which the firm is administered.
C) excellent marketing and sales skills to convince buyers to pay a premium price for the attributes/features incorporated in its product.
D) sustainable distinctive competencies to ensure cost reduction and competitiveness.
E) a number of independent functional units involved in some common undertaking,with one unit typically in a more central role.
G) B) and C)
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A) do a better job of empowering employees and flattening the organization structure.
B) outcompete rivals with a stronger corporate culture.
C) out execute them (beat them by performing certain value chain activities in superior fashion) .
D) beat them with a healthy corporate culture based on such core values as high ethical standards,a strong sense of corporate social responsibility,and genuine concern for customer well-being.
E) institute a more motivating and cost-efficient compensation and reward system.
G) All of the above
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A) When a company shifts to a strategy requiring different skills,competitive capabilities,managerial approaches,and operating methods
B) When an organization is striving to build skills-based competencies
C) When technical know-how is changing so rapidly that a company loses its ability to compete unless its skilled people have cutting-edge knowledge and expertise
D) When the chosen strategy calls for a deeper technological capability or building and using new capabilities
E) When the strategy execution effort is based on tried-and-true operating practices that vary little from year to year
G) A) and E)
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