SOLVED

11A technique known as a gap analysis is used to evaluate the a.strategy-resources linkage b.resources-organization linkage c.strategy-management preferences linkage d.resources-environment linkage 12The strategic preferences of the management team need to be considered to a.avoid conflict b.develop an appropriate strategy c.counter environmental threats d.leverage internal capabilities 13An organization’s capabilities are influenced by its a.financial resources and employee development program b.leadership and the priorities of the Board of Directors c.structure and management processes d.culture and corporate governance 14Strategic tension refers to the constraints that exist between what an organization a.has done in the past and what it could do in the future b.could do and how the management team wants to proceed c.should do and its product/market focus d.should do and what it can do 15The organization’s external environment suggests what the organization a.needs to do given the competitive landscape b.has the capabilities to competently execute c.should have done in the past d.should implement immediately 16Strategic reviews are typically undertaken a.as part of the annual financial audit b.every December 31 c.in preparation for filing the corporate tax return d.on a periodic basis, such as once a year 17Organizations that engage in informal strategic reviews on an on-going basis are a.concerned about their organization’s financial stability b.having misgivings about their organization’s strategic direction c.in a position to respond in a timely manner to strategic possibilities d.following the lead of their major competitors 18The first step in the process of strategic analysis is to a.develop a set of mutually exclusive options b.establish the need for action c.evaluate the competitive environment d.undertake a gap analysis 19One of the key activities associated with the development of the base case is a careful analysis of the a.capabilities of the management team b.priorities of the Board of Directors c.strengths of the organization’s major competitors d.current performance of the organization 20One approach that can be used to evaluate the performance of the organization is to a.forecast future performance based on the current strategy b.measure performance against the level of competition in the industry c.compare the budget forecast to actual expenditures for the current period d.measure performance against an external standard 21If organizational performance is not in keeping with expectations, the recommended strategic approach is to a.check vulnerabilities b.develop new core competencies c.introduce cost cutting measures d.problem solve and undertake remedial action 22One of the key activities associated with the strategy formulation stage of strategic analysis is to a.generate strategic proposals b.assess past performance c.forecast future performance based on current strategy d.establish need for change 23When reviewing an organization’s strategic proposals, one of the considerations should be the a.uniqueness of the proposals b.cost of retraining the workforce c.regulatory reporting requirements d.level of risk given the nature of the opportunity 24Hidden assets can be identified from the a.organization’s financial statements b.minutes of the Board of Directors’ meetings c.organization’s internal capabilities d.organization’s external analysis 25Good strategies sometimes fail because the a.competition moved ahead b.industry outlook was negative c.government called an election d.implementation was challenging