A particularly important twenty-first-century challenge facing all strategists today is

A particularly important twenty-first-century challenge facing all strategists today is

A) deciding whether the process should be more an art or a science.
B) deciding whether strategies should be visible or hidden from stakeholders.
C) deciding whether the process should be more top-down or bottom-up in their firm.
D) all of the above
E) none of the above


Answer: D) all of the above

Proponents of the top-down approach contend that ________ are the only persons in the firm with the collective experience, acumen, and fiduciary responsibility to make key strategy decisions.

Proponents of the top-down approach contend that ________ are the only persons in the firm with the collective experience, acumen, and fiduciary responsibility to make key strategy decisions. 

A) top executives
B) divisional managers
C) middle-level managers
D) lower-level managers
E) non-management employees


Answer: A) top executives

Which of the following statements about contingency plans is NOT true?

Which of the following statements about contingency plans is NOT true? 

A) Contingency plans should be as simple as possible.
B) Only high-priority areas require the insurance of contingency plans.
C) Contingency plans should be developed for favorable and unfavorable events.
D) Strategists should plan for all possible contingencies.
E) Contingency plans minimize the impact of potential threats


Answer: B) Only high-priority areas require the insurance of contingency plans.

What activity is defined as having alternative plans that can be put into effect if certain key events do not occur as expected?

What activity is defined as having alternative plans that can be put into effect if certain key events do not occur as expected? 

A) Corporate agility
B) Scenario planning
C) Strategy evaluation
D) Contingency planning
E) Forecasting


Answer: D) Contingency planning

________ organizations require more elaborate and detailed strategy-evaluation systems than ________ ones because it is more difficult to coordinate efforts among different divisions and functional areas.

________ organizations require more elaborate and detailed strategy-evaluation systems than ________ ones because it is more difficult to coordinate efforts among different divisions and functional areas. 

A) Non-profit; for-profit
B) For-profit; non-profit
C) Large; small
D) Small; large
E) Foreign; domestic


Answer: C) Large; small

Which of the following is true regarding the design of a firm's strategy-evaluation system?

Which of the following is true regarding the design of a firm's strategy-evaluation system? 

A) There is a one-size-fits-all system that works for all companies.
B) It does not need to take into account the organization's size.
C) The management style of a firm has no bearing on the design.
D) It should be determined based on the unique characteristics of a company.
E) There is one ideal system


Answer: D) It should be determined based on the unique characteristics of a company.