Strategic Management Final Exam Chapters 10,11,&12 Questions & Answers(RATED A+)
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Course
Strategic Management F
Institution
Strategic Management F
(CH 10) Building an Organization Capable of Good Strategy Execution: Three Key Actions: Staffing the organization - ANSWERputting together a strong management team, and recruiting and retaining employees with the needed experience, technical skills, and intellectual capital
-putting together a str...
Strategic Management Final Exam
Chapters 10,11,&12 Questions &
Answers(RATED A+)
(CH 10) Building an Organization Capable of Good Strategy Execution: Three Key Actions: Staffing the
organization - ANSWERputting together a strong management team, and recruiting and retaining
employees with the needed experience, technical skills, and intellectual capital
-putting together a strong management team
-recruiting and retaining talented employees
(CH 10) The two best signs of good strategy execution are: - ANSWER-whether a company is meeting
its performance targets
-whether it is performing value chain activities in a manner that is conducive to company wide
operating excellence
(CH 10) Capability Building - ANSWERThe process of developing the ability to do something, however
imperfectly or inefficiently, and molding these efforts into an organizational ability, and as experience
grows and personnel perform the activity consistently well and at an acceptable cost, it is
transformed into a tried-and-true competence and as they continue to polish and refine their know-
how into further improvements, they then create a real competitive capability.
(CH 10) Executing Strategy: Strategy Execution - ANSWER•Is operations-driven, involving
management of both people and business processes
•Is a job for the whole management team, not just a few senior managers
•Can take many more years to develop as a real proficiency than implementing strategy
•Requires a determined commitment to change, action, and performance
(CH 10) A Framework for Executing Strategy: Committing to executing a strategy: - ANSWER•Entails
figuring out the specific techniques, actions, and behaviors necessary for a smooth strategy-
supportive operation
•Following through to get things done and deliver results
•Making things happen (leadership) and making them happen right (management)
,(CH 10) Building an Organization Capable of Good Strategy Execution: Three Key Actions: Acquiring,
developing, and strengthening the resources and capabilities require for good strategy execution -
ANSWERaccumulating the required resources, developing proficiencies in performing strategy-critical
value chain activities, and updating the company's capabilities to match changing market conditions
and customer expectations
Three Types of Paramount Actions:
-developing a set of resources and capabilities suited to the current strategy
-updating resources and capabilities as external conditions and the firm's strategy change
-training and retaining company personnel to maintain knowledge-based and skills-base capabilities
(CH 10) Building an Organization Capable of Good Strategy Execution: Three Key Actions: Structuring
the Organization and work effort - ANSWERorganizing value chain activities and business processes,
establishing lines of authority and reporting relationships, and deciding how much decision-making
authority to delegate to lower-level managers and frontline employees
Three Types of Paramount Actions:
-instituting organizational arrangements that facilitate good strategy execution
-establishing lines of authority and reporting relationships
-deciding how much decision-making authority to delegate
(CH 10) FIGURE 10.2 Building an Organization Capable of Proficient Strategy Execution: Three Types
of Paramount Actions: Staffing the Organization - ANSWERThree Types of Paramount Actions:
-putting together a strong management team
-recruiting and retaining talented employees
(CH 10) Staffing the Organization: Putting together a strong management team - ANSWER•Planners
who ask tough questions and figure out what needs to be done
•Implementers who can select, manage, and lead the right people
•Executors who turn decisions into actions that drive the changes that produce sustainable
competitive advantage
-the most important consideration is to fill key managerial slots with smart people who are clear
thinkers, good at figuring out what needs to be done, skilled in managing people, and accomplished
in delivering good results.
-The task of implementing challenging strategic initiatives must be assigned to executives who have
the skills and talents to handle them and who can be counted on to get the job done well
-managers with strong strategy implementation capabilities have a talent for asking tough, incisive
decisions and know enough about the details of the business to ensure the soundness of the
, decisions of the people around them-they can discern whether the resources people are asking for
to put the strategy in place make sense. They are good at getting things done through others, partly
by making sure they have the right people around them, assigned to the right jobs and partly
because they know how to motivate and inspire people.
Key takeaway
• A critical mass of talented activist managers
-the overriding aim in building a management team should be to assemble a critical mass of talented
managers who can function as agents of change and spear-head excellent strategy execution
(CH 10) Staffing the Organization: Recruiting, Training, and Retaining Capable Employees: Companies
have instituted a number of practices aimed at staffing jobs with the best people they can find -
ANSWER•Intensively screen and evaluate applicants to ensure selecting those who are best-suited
and best-fitted.
•Provide training programs throughout employee careers.
•Offer challenging, interesting, and skill-stretching assignments.
•Rotate people through jobs that span functional or geographic boundaries. Providing people with
opportunities to gain experience in a variety of international settings is increasingly considered an
essential part of career development in multinational companies.
•Make the work environment stimulating and engaging so that the firm is considered a great place to
work.
•Encourage employees to propose creative ways of operating better and to push ideas for new
products or businesses.
•Use assorted financial incentives and perks to retain employees.
•Coach average performers to improve their skills and capabilities, while weeding out
underperformers.
CH 10) Developing and Building Critical Resources and Capabilities (Acquiring, developing, and
strengthening the resources and capabilities require for good strategy execution): Approaches to
Building and Strengthening Capabilities - ANSWER1.)Develop capabilities internally
2.)Acquire capabilities through mergers and acquisitions
3.)Access capabilities via collaborative partnerships
CH 10) Developing and Building Critical Resources and Capabilities (Acquiring, developing, and
strengthening the resources and capabilities require for good strategy execution): Approaches to
Building and Strengthening Capabilities: Developing Capabilities Internally - ANSWERManagerial
Actions to Develop Competencies and Capabilities Generally Take One of Two Forms:
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