LESSON 4 FINALS

Question 1

refers to the need for strategists to examine sets of trends, as
well as individual trends, in evaluating strategies.

Answer 1

Consonance

Question 2

He offered four criteria that could be used to evaluate a
strategy: consistency, consonance, feasibility, and advantage.

Answer 2

Richard Rumelt

Question 3

should focus on changes in the organization’s
management, marketing, finance and accounting, production and
operations, research and development (R&D), and management
information systems (MIS) strengths and weaknesses.

Answer 3

revised IFE Matrix

Question 4

should indicate how effective a firm’s strategies
have been in response to key opportunities and threats.

Answer 4

revised EFE Matrix

Question 5

This activity includes comparing expected results to actual results,
investigating deviations from plans, evaluating individual
performance, and examining progress being made toward meeting
stated objectives.

Answer 5

measuring
organizational performance.

Question 6

is a strategy evaluation and control technique derives its name from the perceived need of firms to
“balance” financial measures that are oftentimes used exclusively in
strategy evaluation and control with nonfinancial measures such as
product quality and customer service.

Answer 6

The Balanced Scorecard

Question 7

can be defined as alternative plans that can be put
into effect if certain key events do not occur as expected.

Answer 7

Contingency plans

Question 8

a systematic process of objectively obtaining and evaluating
evidence regarding assertions about economic actions and events to
ascertain the degree of correspondence between these assertions
and established criteria, and communicating the results to interested
users

Answer 8

Auditing