Strategic Control And Corporate Governance

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Question 1
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Strategic control systems, both informational and behavioral, are used to correct the performance and ultimate strategy of a firm.

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Question 2
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Informational controls involve the balance and alignment of the culture, rewards, and boundaries of a firm.

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Question 3
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The traditional approach to strategic control is interactive, while the contemporary approach to strategic control is sequential.

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Question 4
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The traditional approach to strategic control relies on feedback from performance measurement to formulate strategy.

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Question 5
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For firms competing in highly unstable and turbulent industries, traditional strategic controls are most appropriate.

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Question 6
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Sales quotas, operating budgets, and production schedules are examples of traditional controls.

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Question 7
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In single-loop learning, the assumptions, premises, goals, and strategies of the organization are continuously monitored, tested, and reviewed.

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Question 8
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Contemporary strategic controls involve comparing actual performance to predetermined goals.

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Question 9
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Informational control is primarily concerned with whether the organization is doing the right things.

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Question 10
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Double-loop learning in the contemporary approach to strategic control means that the organizational assumptions, premises, goals and strategies are occasionally monitored, tested, andreviewed.

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Question 11
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In contemporary control systems, data and information generated are best interpreted and discussed in online forums, in order to have traceability of the discussion.

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Question 12
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As firms downsize, a control system based on rewards and culture becomes dysfunctional.

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Question 13
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For young managers who see themselves as free agents, behavioral controls such as rewards and culture can be an effective way to enhance organizational loyalty.

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Question 14
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Once a strong and healthy organizational culture has been established, it becomes self-sustaining.

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Question 15
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The primary participants in corporate governance, according to Monks and Minow, are the shareholders, board of directors, and employees.

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Question 16
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Central to agency theory is the relationship between two primary players, the principals (stockholders) and agents (management).

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Question 17
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Research has shown that executives who have large holdings of stock in their firm are more likely to have diversification strategies more consistent with shareholder interests, like increasing long-term returns.

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Question 18
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One of the most critical roles of the board of directors is to create incentives that align the interests of the CEO and top executives with the interests of shareholders.

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Question 19
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According to the Business Roundtable, representing the largest U.S. corporations, the most important quality of a good board of directors is that they do not get involved in critiquingcompany strategies.

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Question 20
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In order to have effective board operations, firms need to cultivate engaged and committed boards.

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