Multiple Choice Answers

Which of the following is not a good reason to use the Criteria Matrix? It helps decide the “winning” alternative It provides grist for arguments to sell the “winning” alternative It allows opportunities to explore different criteria and ratings It enables negatively and positively correlated criteria to be used together It can be used to support an alternative you have favored from the outset

Which of the following is not a criterion for a strategic-planning process: Key company managers must understand it The complexity of the process must be commensurate with the culture The schedule of the process must fit with that of the participants Participants must take it seriously and commit to it Involve both top managers and key operational managers

Often, companies fall behind their competitors in an industry. For precisely that reason, companies should try to “catch up” and benchmark themselves with the best. True False

The three benefits under “Think” (shared understanding of external changes, ability to anticipate future external changes, and ability to search for a better strategy or business model) are independent of each other. True False

Strategies without objectives, like objectives without strategies, cannot be properly evaluated. True False

One cannot judge a strategy without knowing the objectives—and vice versa. True False

Which of the following statements is false? If objectives are met, the true heroes are the workers in the trenches The strategy should be changed the moment things aren’t going well Checking for unrealistic objectives after exhausting operational fixes Questioning whether the company is competing in the right industry is the last step if every other solution has failed The best execution is doing both planning and implementation seamlessly

Implementation is a straightforward process of implementing the chosen strategy. True False

What is a contingency? A trend An operational response to a trigger An operational plan An objective Something that could go wrong

Good strategy execution is one of the ten benefits of effective strategic planning. True False