Strategic Planning & Implementation Flashcards
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Read the first 7 Strategic Planning & Implementation flashcards as text
A regional bank's leadership wants to translate its strategy into measurable objectives across financial, customer, internal process, and learning and growth perspectives. Which tool fits best?
Answer: Balanced Scorecard
Kaplan and Norton's Balanced Scorecard links strategy to measures across exactly these four perspectives.
In a strategy map, which relationship is typically shown between the perspectives?
Answer: Cause-and-effect links from learning and growth up to financial outcomes
Strategy maps show how improvements in people and processes drive customer results and, in turn, financial results.
A company decides to sell its existing products in a new international market. Under the Ansoff Matrix, this growth strategy is called:
Answer: Market development
Market development means taking existing products into new markets.
Which statement best distinguishes a lagging indicator from a leading indicator?
Answer: Lagging indicators measure outcomes already achieved; leading indicators signal likely future performance
Revenue or profit are lagging outcomes, while metrics like pipeline volume or training hours tend to lead them.
During implementation, a manager notices that departmental budgets fund activities unrelated to the new strategic priorities. What is the most likely root issue?
Answer: Resource allocation is not aligned with strategy
Strategy execution fails when money and people keep flowing to legacy priorities instead of strategic ones.
Which of Porter's Five Forces is strongest when there are few suppliers of a critical input and switching costs are high?
Answer: Bargaining power of suppliers
Concentrated suppliers with high switching costs can raise prices or reduce quality with little consequence.
An organization reviews its strategic plan quarterly and adjusts initiatives based on new market data while keeping its long-term vision. This approach is best described as:
Answer: Adaptive or rolling strategic planning
Rolling or adaptive planning updates tactics on a regular cadence while preserving the strategic direction.
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