A firm’s strategy includes which of the following:Question 10Select one:a.Captures how vision and mission will be achievedb.Communicates to stakeholders the hierarchical corporate structure.c.Sets specific operating procedures to be followed by front line managers.d.Establoshes systems and processes used to implement the goals and objectives
Question
A firm’s strategy includes which of the following:Question 10Select one:a.Captures how vision and mission will be achievedb.Communicates to stakeholders the hierarchical corporate structure.c.Sets specific operating procedures to be followed by front line managers.d.Establoshes systems and processes used to implement the goals and objectives
Solution
A firm's strategy includes:
a. Captures how vision and mission will be achieved
A firm's strategy is a plan of action designed to achieve a long-term or overall aim. It includes the formulation of the company's vision and mission and how these will be achieved. This involves setting objectives, determining actions to achieve the objectives, and mobilizing resources to execute the actions.
b. Communicates to stakeholders the hierarchical corporate structure
While a firm's strategy may indirectly communicate the hierarchical corporate structure, it is not its primary purpose. The main aim of a strategy is to set the direction for the company and not to communicate the company's structure.
c. Sets specific operating procedures to be followed by front line managers
A firm's strategy does
Similar Questions
The stage of strategic management that involves the planning and decision making that lead to the establishment of the organisation’s goals and of a specific strategic plan is termed:Question 3Answera.strategy initiationb.strategy implementationc.strategy executiond.strategy formulatione.none of these choices
A strategy is the set of decisions that managers make to assist the organization in attaining its goals. Group startsTrue or FalseTrue, unselectedFalse, unselected
While there are different schools of thought about how strategy comes about, researchers generally agree the common characteristic across successful organizations is: Question 3Answer a. Strategy trade-off b. Strategic focus c. Strategic process d. Strategy discipline
The primary mechanisms through which companies translate strategic plans into action are:Group of answer choicesStatements of vision and mission.Operating plans and capital expenditure budgets.CEO leadership.Resolutions by the board of directors.
Which of the following are steps in the planning process?Multiple select question.Implementing organizational strategyDetermining the firm's mission and goalsFormulating strategies to achieve the goalsPerforming SWOT analysesEstablishing the organizational controls
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.