HPA 455 EXAM 3 UPDATED QUESTIONS AND ANSWERS
phases of strategic change - CORRECT ANSWER✅✅pre-change preparation
implementation/execution
sustainment/maintenance
Problems with balanced scorecards - CORRECT ANSWER✅✅- Lack of accurate data
- Expensive to obtain and maintain
- Management too rigid; scorecard as only
one indicator of the status of strategic achievement
- Provides a snapshot of the firm'sactions
- Not tied to and driven by the organization's strategic
efforts
pre-change preparation - CORRECT ANSWER✅✅key stakeholders must perceive an appropriate
rationale for the change
key stakeholders should be dissatisfied with the status quo and perceive the proposed changes as
necessary to address challenges
Balanced Financial Scorecard Metric Examples - CORRECT ANSWER✅✅profits, revenue growth,
returnon investment, expense reductions
coalitions - CORRECT ANSWER✅✅facilitate employee empowerment and delegation of authority,
important to, should include top executive and other influential stakeholders
Balanced Customer/ Stake Holder Metic Examples - CORRECT ANSWER✅✅customer acquisition,
retention, and satisfaction
alignment of participant opinions - CORRECT ANSWER✅✅efforts should be made to align
organizational stakeholders before and during strategic change efforts
, Balanced Internal Business Metric Examples - CORRECT ANSWER✅✅production costs and volumes
implementation - CORRECT ANSWER✅✅more important than having a stragety
Balanced Learning Growth Metric Examples - CORRECT ANSWER✅✅new services, employee
satisfaction and retention
methods of implementation - CORRECT ANSWER✅✅identifying resistance and removing obstacles
achieving short-term wins
identify resistance - CORRECT ANSWER✅✅by identifying and understanding the source of resistance,
organizations can target communications to those at the source, engage stakeholders to build their trust
and eliminate obstacles to change
performance audit - CORRECT ANSWER✅✅identify what key aspects of the changes are continuing
identify problematic issues that need to be addressed
creates data that can keep the attention of managers and engage employees
strategic leadership - CORRECT ANSWER✅✅the ability to influence others to voluntarily make day-to-
day decisions that enhance the long-term viability of the organization, while at the same time
maintaining its short term financial stability
components of strategic leadership - CORRECT ANSWER✅✅strategic management
strategic thinking
strategic thinking - CORRECT ANSWER✅✅involves collecting, collating, and assembling disparate pieces
of information to make decisions
leader don'ts - CORRECT ANSWER✅✅don't - say things like "since i'm the boss..."
- think you have to always be right
phases of strategic change - CORRECT ANSWER✅✅pre-change preparation
implementation/execution
sustainment/maintenance
Problems with balanced scorecards - CORRECT ANSWER✅✅- Lack of accurate data
- Expensive to obtain and maintain
- Management too rigid; scorecard as only
one indicator of the status of strategic achievement
- Provides a snapshot of the firm'sactions
- Not tied to and driven by the organization's strategic
efforts
pre-change preparation - CORRECT ANSWER✅✅key stakeholders must perceive an appropriate
rationale for the change
key stakeholders should be dissatisfied with the status quo and perceive the proposed changes as
necessary to address challenges
Balanced Financial Scorecard Metric Examples - CORRECT ANSWER✅✅profits, revenue growth,
returnon investment, expense reductions
coalitions - CORRECT ANSWER✅✅facilitate employee empowerment and delegation of authority,
important to, should include top executive and other influential stakeholders
Balanced Customer/ Stake Holder Metic Examples - CORRECT ANSWER✅✅customer acquisition,
retention, and satisfaction
alignment of participant opinions - CORRECT ANSWER✅✅efforts should be made to align
organizational stakeholders before and during strategic change efforts
, Balanced Internal Business Metric Examples - CORRECT ANSWER✅✅production costs and volumes
implementation - CORRECT ANSWER✅✅more important than having a stragety
Balanced Learning Growth Metric Examples - CORRECT ANSWER✅✅new services, employee
satisfaction and retention
methods of implementation - CORRECT ANSWER✅✅identifying resistance and removing obstacles
achieving short-term wins
identify resistance - CORRECT ANSWER✅✅by identifying and understanding the source of resistance,
organizations can target communications to those at the source, engage stakeholders to build their trust
and eliminate obstacles to change
performance audit - CORRECT ANSWER✅✅identify what key aspects of the changes are continuing
identify problematic issues that need to be addressed
creates data that can keep the attention of managers and engage employees
strategic leadership - CORRECT ANSWER✅✅the ability to influence others to voluntarily make day-to-
day decisions that enhance the long-term viability of the organization, while at the same time
maintaining its short term financial stability
components of strategic leadership - CORRECT ANSWER✅✅strategic management
strategic thinking
strategic thinking - CORRECT ANSWER✅✅involves collecting, collating, and assembling disparate pieces
of information to make decisions
leader don'ts - CORRECT ANSWER✅✅don't - say things like "since i'm the boss..."
- think you have to always be right
