Business Performance Management Strategic Planning and Goal Setting 2

Question 1

What is the primary purpose of a 'strategic review meeting'?

Accepted Answer

To assess progress on strategic objectives and make course corrections

Answer

Strategic review meetings evaluate progress against strategic objectives and allow leadership to adjust strategy based on performance data and changing conditions.

Question 2

In goal setting, what does 'goal alignment' mean within an organization?

Accepted Answer

Individual and team goals are directly connected to and support organizational strategic goals

Answer

Goal alignment ensures that what teams and individuals work toward directly contributes to the organization's strategic priorities.

Question 3

Which approach to strategy execution emphasizes breaking long-term goals into 90-day planning cycles?

Accepted Answer

OKR quarterly cycles

Answer

OKRs are typically set and reviewed quarterly, creating 90-day cycles that maintain urgency while allowing flexibility to adapt.

Question 4

What is 'Hoshin Kanri' in strategic planning?

Accepted Answer

A strategic policy deployment method that aligns organizational activities with strategic direction

Answer

Hoshin Kanri is a strategic planning methodology that deploys organizational goals from top leadership down through all levels using a structured catchball process.

Question 5

What distinguishes a 'leading strategy' from a 'lagging strategy' in competitive positioning?

Accepted Answer

Leading strategies focus on being first to market; lagging strategies follow after market validation

Answer

A leading strategy pursues first-mover advantage through innovation, while a lagging (or fast-follower) strategy waits for market proof before entering.

Business Performance Management Practice Test

Business Performance Management Practice Test

Business Performance Management Strategic Planning and Goal Setting 2