Crafting and Executing a Strategy Is a Top-Priority Managerial Task

question 17

Multiple Choice

Crafting and executing a strategy is a top-priority managerial task because

• A) it helps management create tight fits between a company's strategic vision and business model.
• B) it allows all company personnel, and especially senior executives, to know the answer to "who are we, what do we do, and where are we headed?"
• C) it is management's prescription for doing business, its roadmap to competitive advantage, a game plan for pleasing customers, and its formula for improving performance.
• D) it provides clear guidance as to what the company's business model and strategic intent are, and helps keep managerial decision-making from being rudderless.
• E) it establishes how well executives perform these tasks and are the key determinants of executive compensation.

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Definitions:

SPSS Output

The results generated by the Statistical Package for the Social Sciences, including statistical tests, tables, and graphs, after data analysis.

Test Statistic

A calculated value from sample data that is used in statistical testing to decide whether to reject the null hypothesis within the framework of a hypothesis test.

P-value

A statistical measure that indicates the probability of observing the test results, or something more extreme, if the null hypothesis is true.

Null Hypothesis

A hypothesis that suggests there is no statistical significance between the specified sets of observations, usually representing a statement of no effect or no difference.