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Which of the following are the key considerations when determining which performance measure to apply to a strategic objective?

A.

Is easy to track, reports on outcomes soon after the fact, and is accepted by industry leaders

B.

Compares performance against competitors, communicates a positive message to shareholders, is tracked without creating new processes, and is predictive

C.

Is valid and verifiable and helps to balance a mix of both leading and lagging performance indicators

D.

Is linked to financial performance, is requested by the board of directors, gives insight as to what customers are thinking, and is predictive

In developing a strategic plan, key performance measures should be developed for

A.

the organization's financial goals.

B.

the organization's desired outcomes.

C.

each step of the final action plan.

D.

employee satisfaction.

Continuous improvement of strategic plans is needed because it keeps

A.

senior executives employed.

B.

strategic planners employed.

C.

an organization viable.

D.

stakeholders informed.

Which of the following should be done FIRST in developing a strategic plan?

A.

Identify action plans

B.

Develop performance measures

C.

Conduct a broad environmental scan

D.

Complete an enterprise-wide strategy map

Which of the following can be used as an organization-wide system for strategic and operational integration?

A.

Quality management

B.

Lean manufacturing

C.

Balanced Scorecard

D.

Business Process Reengineering

Employee commitment should be secured at what point in the strategic management process?

A.

As early as possible

B.

Once key analysis has been completed

C.

After senior managers have made asset allocation decisions

D.

Not until the vision has been approved

The Strategic Planning Professional should know and/or understand how to set up a monitoring and (1) _______ processes and various (2) _______ systems to track key success factors, S.M.A.R.T. goals and implementation of changes anticipated in the strategy.

A.

(1) Human capital management; (2) communications

B.

(1) Accountability; (2) Information

C.

(1) Customer communications; (2) Data analysis

D.

(1) Meeting minutes recording; (2) Progress reporting

Which of the following stages comprise the PDCA cycle?

A.

Prepare, design, change, assess

B.

Plan, do, check, act

C.

Plan, deliver, collaborate, apply

D.

Propose, describe, consult, approve

Benchmarking is most useful when comparing

A.

different departments within the organization.

B.

the organization's process to a similar process in other organizations.

C.

best practices to worst practices.

D.

current processes to past processes.

Cost reduction can be MOST consistently achieved by

A.

Pressuring suppliers to cut corners

B.

Reducing unnecessary processes

C.

Investing heavily in information technology

D.

Reducing staff to minimum essential levels