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UWEC MGMT 449 Exam 3 well answered to pass
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UWEC MGMT 449 Exam 3 well answered to pass
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UWEC MGMT 449 Exam 3Strategy Execution - correct answer ✔✔1. operations driven
2. involves management of people and business process
3. requires whole management team
4. can take years to develop as a real proficiency
5. requires determined, committed to change, actions and performance
10 basic tasks of strategy execution - correct answer ✔✔1. Staff the org with the right people
2. Develop the resources and capabilities
3. Establish a strategy-supportive org structure
4. Exercise strong leadership
5. Instill corporate culture that promotes good strategy execution
6. Allocate sufficient resources
7. Institute policies and procedures
8. Adopt best practices and business processes
9. Install information and operating systems that support strategy
10. Tie rewards and incentives directly to achievement of strategy
Why does strategy typically fail? - correct answer ✔✔Poor execution
2 Best Signs of a good strategy - correct answer ✔✔Meeting/Beating performance targets and value
chain activities operating at excellence
3 Key Actions - correct answer ✔✔Staffing
Developing
Structuring
, Staffing - correct answer ✔✔Assembling a strong management team
Developing - correct answer ✔✔Renew, upgrade, and revise resources and capabilities to match chosen
strategy
Structuring - correct answer ✔✔create strategy-supportive organization capable of good strategy
execution
Actions for Staffing the Organization - correct answer ✔✔Putting together a strong management team of
talented activist
Strong Management Team - correct answer ✔✔Planners
Implementers
Executers
Planners - correct answer ✔✔ask tough questions and figure out what needs to be done
Implementers - correct answer ✔✔select, manage, and lead the right people
Executors - correct answer ✔✔turn decisions into actions that drive the changes that produce
sustainable competitive advantage
Approaches to building and strengthening capabilities - correct answer ✔✔1. Develop capabilities
internally
2. Acquire capabilities through mergers and acquisitions
3. Access capabilities via collaborative partnerships
Organizational Structure - correct answer ✔✔Comprises the formal and informal arrangement of tasks,
responsibilities, lines of authority, and reporting relationships for the firm
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