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5TECEPStrategicMngmt
Executing The Strategy
| Question | Answer |
|---|---|
| What is a corporate culture? | The character of a company’s internal work climate-as shaped by a system of shared values, beliefs, ethical standards, and traditions that in turn define behavioral norms, ingrained attitudes, accepted work practices, and styles of operating |
| Why is a company's culture important? | It influences the organization’s actions and approaches to conducting business. |
| What are core competencies and capabilities? | Proficiently performed internal activities that are central to a company's strategy and competitiveness |
| What does successfully leading the effort to foster a results-oriented, high performance culture generally entail? (answer 1-3) | Treating employees as valued partners in the drive for operating excellence, Fostering an esprit de corps that energizes organization members, Using empowerment to help create a fully engaged workforce, |
| What does successfully leading the effort to foster a results-oriented, high performance culture generally entail? (answer 4-6) | Making champions out of those who spearhead new ideas, Setting stretch objectives and clearly communicating high expectations, Using the tools of benchmarking best practices, business process reengineering, TQM, and Six Sigma to focus on improvement |
| What does successfully leading the effort to foster a results-oriented, high performance culture generally entail? (answer 7-8) | Using the full range of motivational techniques and compensation incentives to inspire company personnel, nurture a results-oriented work climate, and enforce high performance standards, Celebrating individual, group, and company success. |
| What are business ethics? | The application of general ethical principles to the actions and decisions of businesses and the conduct of their personnel. |
| What are the key features of a company's culture? (features 1-3) | he company’s values and ethical standards, its approach to managing human resources, its work atmosphere and company spirit, how its personnel interact |
| What are the key features of a company's culture? (features 4-6) | the behaviors awarded through incentives (both financial and symbolic), the traditions and oft-repeated “myth,” and its manner of dealing with stakeholders. |
| A company’s culture is grounded in and shaped by what? | Its core values and ethical standards |
| Core values and ethical principles serve what two roles in the culture building process? (thing 1) | 1. They foster a work climate in which employees share common and strongly held convictions about how company business is to be conducted |
| Core values and ethical principles serve what two roles in the culture building process? (thing 2) | 2. They serve as yardsticks for gauging the appropriateness of particular actions, decisions, and behaviors, thus helping steer company personnel toward both doing things right and doing the right thing. |
| Why do company cultures vary widely in strength and influence? | Some are strongly embedded and have a big impact on a company’s practices and behavioral norms. Others are weak and have comparatively little influence on company operations. |
| When can a company's culture be a powerful aid to strategy execution. | When it is well matched to the behavioral requirements of the company’s strategy implementation plan |
| A culture that is grounded in the types of actions and behaviors that are conducive to good strategy execution assists the effort in what three ways? (answer 1-2) | By focusing employee attention on the actions that are most important in the strategy execution effort. Through culture-induced peer pressure for employees to contribute to the success of the strategy execution effort, |
| A culture that is grounded in the types of actions and behaviors that are conducive to good strategy execution assists the effort in what three ways? (answer 3) | By energizing employees, deepening their commitment to the strategy execution effort, and increasing the productivity of their efforts. |
| When are high performance cultures and adaptive cultures particularly important? | In dynamic environments. |
| What are the five types of unhealthy cultures? (answer 1-3) | Those that are change resistant, Those that are characterized by heavily politicized decision making, Those that are insular and inwardly focused, |
| What are the five types of unhealthy cultures? (answer 4-5) | Those that are ethically unprincipled and infused with greed, and Those that are composed of incompatible subcultures. All five impede good strategy execution. |
| What does changing a culture require? | Competent leadership at the top, Making a compelling case for cultural change and employing both symbolic actions and substantive actions that unmistakably indicate serious commitment on the part of top management |
| Finish the statement: The more that culture driven actions and behaviors fit what’s needed for good strategy execution... | The less managers must depend on policies, rules, procedures, and supervision to enforce what people should and should not do |
| Leading the drive for good strategy execution and operating excellence calls for what three actions on the part of the manager in charge? (answer 1-2) | Staying on top of what is happening and closely monitoring progress. (often accomplished through managing by walking around (MBWA). Putting constructive pressure on the organization to execute the strategy well and achieve operating excellence. |
| Leading the drive for good strategy execution and operating excellence calls for what three actions on the part of the manager in charge? (answer 3) | Initiating corrective actions to improve strategy execution and achieve the targeted performance results. |
| A company’s culture is grounded in and shaped by what? | Its core values and ethical standards. |
| What do a company’s values statement and code of ethics communicate? | Expectations of how employees should conduct themselves in the workplace. |
| How can a strong company culture be described? | Deeply rooted values and norms of behavior are widely shared and regulate the conduct of the company’s business |
| A strong culture that encourages actions, behaviors, and work practices conducive to good strategy execution adds to what? | The power and effectiveness of a company’s strategy execution effort. |
| What is in management's best interests? | Dedicating considerable effort to establishing a corporate culture that encourages behaviors and work practices conducive to good strategy execution. |
| As a company's strategy evolves, what is a definite ally in the strategy implementing, strategy executing process as compared to cultures that are resistant to change? | An adaptive culture |
| What is management by walking around (MBWA)? | One of the techniques that effective leaders use to stay informed about how well the strategy execution process is progressing. |
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