Perhaps the Most Reliable Way for a Company to Improve

question 59

Multiple Choice

Perhaps the most reliable way for a company to improve its financial performance over time is to

• A) put 100% emphasis on the achievement of its short-term and long-term financial objectives.
• B) recognize that the achievement of strategic objectives fosters better long-term financial performance.
• C) substitute financial intent for strategic intent and judiciously concentrate on the mission of making a profit.
• D) not allocate any resources to the achievement of strategic objectives until it is very clear that the company can meet or beat its stretch financial performance targets.
• E) avoid use of the "balanced scorecard" philosophy since achievement of financial performance targets is obviously more important than achievement of strategic performance targets.

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Definitions:

Latent Function

The unintended, often unrecognized, consequences or effects of social structures or institutions that may influence societal behavior or outcomes.

Social System

An organized set of interrelated structures, institutions, and patterns of interaction that govern how societies operate and organize themselves.

Status

The social position or ranking an individual holds within a society or group, often determined by factors like occupation, wealth, or family background.

Role

The behavior expected of an individual who occupies a given social position or status.