Practice Test Geeks(CME) Certified Management Executive Practice Test
← All CME Flashcard Decks

Strategic Planning & Execution Flashcards

7 cards from real CME practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Strategic Planning & Execution flashcards as text

  1. What does the acronym 'OKR' stand for in the context of strategic goal-setting frameworks?

    Answer: Objectives and Key Results

    OKR stands for Objectives and Key Results, a goal-setting framework that pairs ambitious qualitative objectives with measurable quantitative key results.

  2. A strategic plan identifies an opportunity to enter a new geographic market. Which analytical tool would BEST help assess the macro-environmental factors of that market?

    Answer: PESTLE Analysis

    PESTLE Analysis examines Political, Economic, Social, Technological, Legal, and Environmental factors, making it ideal for assessing macro-environmental conditions in a new market.

  3. In strategic planning, a 'stretch goal' is best characterized as:

    Answer: An aspirational target that requires significant change and innovation to achieve

    Stretch goals are ambitious targets set significantly beyond current performance levels, designed to drive breakthrough thinking and transformational change.

  4. Which of the following BEST describes the role of scenario planning in strategic management?

    Answer: Developing multiple plausible future narratives to stress-test strategy

    Scenario planning develops several plausible alternative futures to help organizations test the robustness of their strategy and prepare contingency responses.

  5. The Ansoff Matrix suggests that a company selling existing products to new customer segments is pursuing which growth strategy?

    Answer: Market Development

    Market Development involves taking existing products into new markets or customer segments, which carries moderate risk compared to diversification.

  6. A company's strategy execution fails primarily because employees do not understand their role in achieving strategic goals. This failure is MOST attributed to a breakdown in:

    Answer: Strategic communication and cascading

    Effective strategy execution requires clear communication that cascades strategic priorities down through all organizational levels so employees understand how their work contributes.

  7. Which of the following BEST describes 'core competency' as used in strategic planning?

    Answer: A unique bundle of skills and technologies that provides competitive advantage

    A core competency, as defined by Prahalad and Hamel, is a unique combination of skills and technologies that competitors cannot easily replicate and that creates value for customers.