Executing Strategy

Test Yourself 87

Test Yourself

This section offers ten multiple-choice questions to help you iden-

tify your baseline knowledge of the essentials of executing strat-

egy. Answers to the questions are given at the end of the test.

1. What is a corporate strategy?

a. A plan for clarifying who a company’s customers are and

what they value.

b. A plan describing where a company wants to be and how it

intends to get there.

c. A plan spelling out your company’s operational objectives

for the next twelve months.

2. Which of the following best describes the components of a

strategic plan?

a. Direction statement, priority issues, strategic objectives, and

action plans.

b. Mission statement, the company’s annual report, and analy-

sis of industry trends.

c. Vision statement, ...