Chapter 1, 2, 3 Summary

A longer mission statement is better than a short one. True or False?

• True

• False

Substitute Products refers to…

• A) Identifying any new trends

• B) How easily can suppliers raise prices?

• C) How much power can your consumers exert by switching?

• D) Both A and B

It is better if a consultant or facilitator has a detailed knowledge of an organization opposed to a broad knowledge. True or False?

• True

• False

Balanced Scorecards are only useful for large corporations. True or False?

• True

• False

CEOs are soley responsible for motivating staff to make their own decision and actions. True or False?

• True

• False

Your company undergoing a merger is an example of an external pressure. True or False?

• True

• False

The combination of the ideas of Strategy Map and Balanced Scorecard has built a strategic management system which is an important part of modern business management.

• True

• False

Which of these situations may cause a balanced scorecard to fail?

• Poorly designed

• Not long enough

• Not followed correctly

• Both A and C

• None of the Above

Using SWOT is meant to comparing your strengths, weaknesses, opportunities, and threats. True or False?

• True

• False