Question 45 Research has demonstrated a \"knowing-doing gap\" that affects both

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Question 45

Research has demonstrated a "knowing-doing gap" that affects both organizations and individuals, i.e., we are always so busy doing stuff, so frenetically caught up in activity at work and in life, that we fail to learn the knowledge we need truly to be successful. The same is true with regard to the three stages of strategic management, viz., strategy formulation (knowing), strategy implementation (doing), and strategy evaluation (getting feedback and using it to improve); we put too much focus and importance upon implementing (doing) and fail to invest sufficient time, energy, and thought in coming up with a great strategy, which is undeniably the most important thing!

Select one:

True

False

Question 46

Things change constantly, often more quickly that we can anticipate. Also, the best laid plans of mice and men often go awry as we seek to implement them. Therefore, good strategic management includes detailed plans, overseen at the mid-management and the executive level, to monitor and evaluate how well the strategy is being implemented and to address problems and make adjustments when things aren't going well.

Select one:

True

False

Question 47

No matter how smart and great a strategy is, it will not succeed if the people of the organization do not get behind it and make it work. Therefore, it is imperative to enlist the support and involvement of key people in the implementation of the strategy. And actually, the best way to get people to share a commitment to the strategy and its success is to involve them in all phases of the strategic management process, i.e., formulation, implementation, and evaluation, in ways that also help them to learn, grow, and find meaning in their work.

Select one:

True

False

Explanation / Answer

(a) True: The Strartegic Formulation is the strategic thinking which involves intution and creativity.It is analytical process which aimed at carrying out strategies.It produces stimuli from exiernal and internal environment to integrate the business plans. strategic thinking posses intent focussed, long term oriented, opportunistic, hypothesis driven, built in past and present data etc. It is a complex process, without which the implementation stage consumes time and money.so sufficient amount of time is required in knowing same as in doing strategy.

(b). True: Strategic management controls at the executive levels and functional levels that lead to adjustments in strategic direction, strategies, or the implementation plan, when necessary. Thus, Information is collected that leads to believe that the organizational mission is no longer appropriate or that its strategies are not leading to the desired outcomes. A strategic evaluation system may conversely tell that the mission and strategies are appropriate, but that they have not been properly executed. In such cases, adjustments should be made to the implementation process.

(c) True: The involvement of key people in inplementation of strartegies is important as certain policies are worked out in group discussion with employees and with the acceptance of employees. Decision making by the employees , sharing of power by allowing the group to make decisions . Participative manager decentralize managerial authority which increases the morale and cooperation and improve the attitude of Employees towards job and in achieving goals.

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