Why leaders gather information through informal and unconventional means

. Why is it important for leaders to gather information through informal and unconventional means?
a. Formal channels can cause leaders to become overloaded with too much information and responsibilities.
b. Formal conventional channels can be influenced by special interests and gatekeepers who choose what information to share.
c. Formal channels can skew strategies which can result in poor performance and lack of focus.
d. Formal channels often miscommunicate the vision of the company and disrupt the organization’s culture.
e. Formal channels encourage leaders to use their authority to force ideas through in order to accomplish goals.

. Why is it important for leaders to gather information through informal and unconventional means?
a. Formal channels can cause leaders to become overloaded with too much information and responsibilities.
b. Formal conventional channels can be influenced by special interests and gatekeepers who choose what information to share.
c. Formal channels can skew strategies which can result in poor performance and lack of focus.
d. Formal channels often miscommunicate the vision of the company and disrupt the organization’s culture.
e. Formal channels encourage leaders to use their authority to force ideas through in order to accomplish goals.

. What is the return on invested capital (ROIC) defined as?
a. Net profit over the capital invested in the firm
b. Dividend payments over the number of shares outstanding
c. Total revenue over total expenses
d. Net income after tax over the cost of capital
e. Share price appreciation over the total assets of the company

  1. According to the text, what is one reason strategic planning may fail over longer time periods?
    a. Scenario planning is not utilized.
    b. Managers forget that the future is entirely unpredictable.
    c. Operating managers are always involved in the planning process.
    d. Companies only focus on the current competitive environment.
    e. Scenario planning is only used by a small percentage of companies.
  2. What is the significance of a business model in achieving a competitive advantage?
    a. It helps managers understand how various strategies can create activities that fit together to make a company unique and able to consistently outperform the competition
    b. The significance is that it provides a blueprint for acquiring more resources than the competitors
    c. It focuses on creating a single, unchanging strategy for the company
    d. It prioritizes short-term profit growth over long-term sustainability
    e. It relies on the company’s market position and industry dominance
  3. Which of the following identifies the difference between a mission and a vision statement?
    a. A mission statement describes where the company wants to be in the community while a vision statement declares the purpose the company serves to its customer.
    b. A mission statement describes the “what,” “who,” and “why” while the vision statement describes the “where.”
    c. A mission statement expresses the aspirations upon achievement of goals while a vision statement expresses functions and objectives.
    d. A mission statement illustrates results while a vision statement illustrates actions.
    e. A mission statement and a vision statement are interchangeable.
  4. Which of the following best describes the strategic role of functional-level managers within an organization?
    a. Developing strategies for individual businesses within the organization
    b. Overseeing the development of strategies for the whole organization
    c. Allocating resources among the different businesses
    d. Developing functional strategies to fulfill strategic objectives set by business- and corporate-level managers
    e. Setting overall strategic goals and monitoring the performance of the businesses
  5. Which of the following is a difference between a general manger and a functional manager?
    a. A general manager has no responsibility to the performance of the individuals of the company while the functional manager has an integral relationship with employee performance.

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The correct answers are:

  1. b. Formal conventional channels can be influenced by special interests and gatekeepers who choose what information to share.

Formal channels can be limited in scope and may not provide a complete picture of what’s happening within the organization. People might filter information to make themselves look good or protect their interests.

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  1. Net income after tax over the cost of capital.

ROIC (Return on Invested Capital) measures how efficiently a company uses its capital to generate profits.

  1. d. Companies only focus on the current competitive environment.

Strategic plans made based on current conditions might not hold true in the long run due to unforeseen changes in the market, technology, or customer preferences.

  1. a. It helps managers understand how various strategies can create activities that fit together to make a company unique and able to consistently outperform the competition

A well-defined business model clarifies how a company creates, delivers, and captures value, providing a roadmap for achieving a sustainable competitive advantage.

  1. b. A mission statement describes the “what,” “who,” and “why” while the vision statement describes the “where.”
  • A mission statement defines the company’s core purpose, what it does, who it serves, and why it exists.
  • A vision statement describes the company’s aspirations for the future, its desired future state.
  1. d. Developing functional strategies to fulfill strategic objectives set by business- and corporate-level managers

Functional-level managers translate broad organizational goals into specific action plans for their departments, such as marketing, finance, or human resources.

  1. e. Setting overall strategic goals and monitoring the performance of the businesses

General managers oversee a specific business unit or division within the organization, managing all its functional areas and taking responsibility for its overall performance. Functional managers, on the other hand, focus on a specific function like marketing or finance across the entire organization.

 

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