Proficient Strategy Execution Requires Executive Managers to

question 43

Multiple Choice

Proficient strategy execution requires executive managers to

• A) be current with events and closely monitor progress,put constructive pressure on the organization for operating excellence,and initiate corrective action when necessary to improve performance and achieve desired results.
• B) understand all the tasks required to implement the strategy so as to ensure staff will not shortchange any strategic-critical activity.
• C) attach great importance to gathering statistics that define every task effort and ensure limited variability.
• D) initiate a problem-solving search to ensure obstacles to success are identified.
• E) All of these.

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Definitions:

Negative-Sum Game

In game theory, a game in which the gains (+) and losses (−) add up to some amount less than zero; one party’s losses exceed the other party’s gains. A strategic interaction (game) between two or more parties (players) in which the winners’ gains are less than the losers’ losses so that the gains and losses sum to a negative number.

Positive-Sum Game

A situation in game theory in which the sum of gains and losses is greater than zero, indicating that all participants can benefit from cooperation or competition.

Oligopoly

A market structure characterized by a few firms controlling a large portion of the market share, influencing prices and competition.

Competitive Ideal

An economic theory suggesting that markets perform optimally when there is a high level of competition among firms, leading to better products and services for consumers.