CME Strategic Planning & Execution 3

Question 1

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

Accepted Answer

Objectives and Key Results

Answer

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

Question 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?

Accepted Answer

PESTLE Analysis

Answer

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

Question 3

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

Accepted Answer

An aspirational target that requires significant change and innovation to achieve

Answer

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

Question 4

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

Accepted Answer

Developing multiple plausible future narratives to stress-test strategy

Answer

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

Question 5

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

Accepted Answer

Market Development

Answer

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

(CME) Certified Management Executive Practice Test

(CME) Certified Management Executive Practice Test

CME Strategic Planning & Execution 3