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WorksheetsSTRAMA - FINALS
Total questions: 51
Worksheet time: 43mins
The ______ _________focuses on the future; it is a source of inspiration and motivation.
(a)
The ______ _________ concentrates on the present; it defines the customers, critical processes and it informs you about the desired level of performance.
(a)
talks about HOW you will get to where you want to be.
MISSION STATEMENT
VISION STATEMENT
outlines where you want to be.
MISSION STATEMENT
VISION STATEMENT
answers the question, “What do we do? What makes us different?”
MISSION STATEMENT
VISION STATEMENT
answers the question, “Where do we aim to be?”
MISSION STATEMENT
VISION STATEMENT
What is the purpose of a vision statement?
A. To identify key employees.
B. To convey what you want to accomplish
C. To talk about why you started the business
D. To develop pricing strategy
How does a mission statement differ from a vision statement?
A. A mission statement talks about where you see yourself in five years.
B. A mission statement explains how and why you started a business.
C. None of the answers are correct; the terms mission and vision statements can be used interchangeably.
How does a business aim relate to a vision statement?
A. Aims are incorporated in the mission statement.
B. Aims are measurable steps toward a vision.
C. Aims are the past achievements of your business.
It is an aspiring description of what you would like to achieve in the long-term future.
A. Vision statement
B. Mission statement
C. Business aims
An organization needs to have a mission statement to:
A. inform stakeholders
B. allocate budget
C. ensure viability
A mission statement contains an organization’s
A. deadlines and targets
B. diversity policy
C. identity and purpose
Who in an organization has responsibility for working towards the vision /mission /goals?
A. Employer
B. Suppliers
C. Everyone who works for the organization
Why is it important to have an environmental business objective?
A. To adhere to government targets
B. To be competitive
C. To keep the customer base
What is the purpose of organizational aims and objectives?
A. To provide direction to staff
B. To prevent takeovers
C. To give a brief overview of ideas
A mission statement doesn’t usually include:
A. What we do
B. Deadlines for when things will be done
C. What we serve
D. How we serve
__________ __ __________ (MBO) ) is a strategic management model that aims to improve the performance of an organization by clearly defining objectives that are agreed to by both management and employees.
(a)
The term Management by Objectives (MBO) was first outlined by management guru named:
Donald Miller, in his 2021 book, Business Made Simple
Peter Drucker in his 1954 book, The Practice of Management.
According to the practitioners, the major benefits of MBO includes:
Improved employee motivation and commitment
Better communication between management and employees
Emphasizes the setting of goals to attain objectives
Which critic of MBO argued that setting particular goals like production targets leads workers to meet those targets by any means necessary, including short-cuts that result in poor quality.
Peter Drucker
W. Edwards Demming
Igor Ansoff
__________ are the specific measurable results of the initiative, specifying how much of what will be accomplished by when.
Three basic types of objectives includes:
Behavioral Objectives
Process Objectives
Community-level outcome objectives
Tactical Objectives
This type of objective provides the groundwork or implementation necessary to achieve your other objectives.
(a)
This type of objectives look at changing the behaviors of people (what they are doing and saying) and the products (or results) of their behaviors.
Process Objectives
Behavioral Objectives
Community-level outcome objectives.
This type of objectives is often the product or result of behavior change in many people. They are focused on change at the community level instead of on an individual level.
In goal setting, SMART+C means?
Stakeholder-focused, Market-driven, Adaptive, Results-oriented, Transformative + Customer-centric
Specific, Measurable, Achievable, Realistic, Timely, Challenging
Systematic, Motivational, Accountable, Resource-efficient, Transparent + Consistent
GOOD REASONS WHY YOU SHOULD DEVELOP OBJECTIVES:
Having benchmark to show progress
Helps the organization to maintain its focus on initiatives most likely to have an impact.
Keeping members of the organization working toward the same long-term goals.
Provide a structured approach to handle uncertainties or setbacks effectively.
These are the facts and figures that tell you how big the problem is; it gives specific figures about the extent to which it exists in your community.
(a)
NOTE: THERE ARE TWO WAYS TO COLLECT BASELINE DATA
1. With the use of surveys, questionnaires, and personal interviews.
2. With the use of information that has been collected; public libraries, city government, social services agencies, local schools, or city health departments may already have the statistics that you want.
NOTE: OTHER MEMBERS OF YOUR ORG
1. Agents of change - might include teachers, business leaders, church leaders, local politicians, community members, and members of the media.
2. Targets of change - the people who experience the problem or issue on a day-to-day basis and those people whose actions contribute to the problem. Changing their behavior will become the heart of your objectives.
Which of the following does NOT primarily apply when considering outside influences?
A. Board member resumes
B. Current financial situation
C. Competitors
D. Innovations or technologies
Which of the following does NOT primarily apply when considering inside influences?
A. Investor’s and/ or funders’ opinions
B. Customers’ needs and wants
C. Advertising and promotions
D. Marketing and sales
Which strategic analysis tool is very good for analysing a complex problem?
A. Force Field Analysis
B. Business Planning
C. SWOT Matrix
D. Product-Market Mix
Which strategic tool is very good for planning to develop another product?
A. Force Field Analysis
B. Business Planning
C. SWOT Matrix
D. Product-Market Mix
Which strategic analysis tool is very good for strategizing to position an organization to thrive in the future?
A. Force Field Analysis
B. Business Planning
C. SWOT Matrix
D. Product-Market Mix
Which strategic analysis tool works very well for developing a realistic vision?
A. Brainstorming
B. Real-time Planning
C. Scenario Planning
D. Organic Planning
In the SWOT model, which of the following does the SW NOT apply to?
A. Board Operations
B. Economic Trends
C. Financial States
D. Marketing Activities
An internal assessment should look especially at which internal operations?
A. Board Operations
B. Financial Situation
C. Products, services, and programs
D. All of the above
Which of the following is NOT part of a company’s macro-environment?
A. The company’s resource strengths, weaknesses, and competitive capabilities.
B. Political and Socio-cultural Factors
C. Economic, Technological, and legal Factors
When strategically distinguishing your organization in the marketplace, which of these should you NOT primarily consider?
A. How did your organization fail in the past?
B. Which social media tool to use?
C. What is your unique value proposition?
When conducting an organizational assessment, which is often the best approach to use?
A. Use an objective assessment tool
B. Focus on all major internal operations
C. Ask the Board and staff members for their opinions
The most widely used tool for diagnosing the principal competitive pressures in a market is the:
A. SWOT
B. Five Forces Model
C. Competitor Profiling
Competitive pressures on companies within an industry come from those:
A. companies in other industries attempting to win buyers over to their substitute products
B. associated with the threat of new entrants into the marketplace
C. associated with the market maneuvering that goes on among rival firms in the industry
D. All of these
. The nature and strength of competitive forces that prevail in an industry is generally a joint product of:
A. competition from rival sellers
B. competitive pressures stemming from the bargaining power of suppliers and buyers.
C. Competition from producers of substitute products.
D. All of these
Rivalry increases when:
A. buyer demand is increasing
B. as the products of rival sellers become more strongly differentiated.
C. when there is an excess supply of unused production capacity.
D. All of these
“the heart of execution lies in three core processes":
Strategy
Operations
Technology
People
A renowned management consultant who made the case for execution as a discipline or "systematic way of exposing reality and acting on it."
Ram Charan
David P. Norton
Robert S. Kaplan
Larry Bossidy
NOTE: 10 STEPS OF STRATEGY EXECUSTION.
1. Visualize the strategy - via an illustration that shows both the important elements of the strategy and how each relates to one another in order to improve understanding to what a strategy is.
Ex: through frameworks such as Strategy Map by Kaplan and Norton
2. Measure the Strategy - through dashboard, balanced scorecard, or some other framework so the reader can determine that progress is being made toward completion of the strategy.
3. Report Progress - review the strategy regularly with an eye focused on determining if the strategy is producing results, versus controlling performance.
4. Make Decisions - as part of the regular reporting process leaders must make ongoing strategic decisions to keep the strategy current and on course
5. Identify strategy projects - the first step in improving project-oriented strategy execution is to capture and organize all projects—strategy projects in particular—that are underway throughout an organization.
6. Align strategy projects - this step entails comparing each project, either proposed or ongoing, to the strategic goals to determine if alignment exists.
7. Manage projects - Organizations must develop a capability in project management if they are to execute strategy effectively.
8. Communicate strategy - leaders must communicate their visualized strategy to the workforce in a way that will help them understand not only what needs to be done, but why.
9. Align individual roles - it’s up to senior leaders to ensure that employees at all levels can articulate and evaluate their roles toward the achievement of specific strategic goals.
10. Reward performance - in strategy execution, as in any other area of management, what gets measured gets done. Taking this one step further, what gets measured and rewarded gets done faster.
It consists of all the decisions and activities required to turn sets of strategic choices into reality
(a)
Decisions and activities you undertake to turn implemented strategy into commercial success.
(a)
The fundamental purpose for the existence of any organization is described by its?
(a)
