PERFORMANCE MANAGEMENT SYSTEM

Watch the YT video link below. Answer the ff. questions below.

https://www.youtube.com/watch?v=QC_PGHkRvTw&t=4s

1. Briefly describe how is the video relevant to Performance Management System.

2. How was Google able to make the best managers?

3. How is the feedbacking mechanisms of their best managers?

4. According to the video, how do you improve the performances of your managers?

STRATEGIC AND SUSTAINABILITY AUDIT

True or False

1.A strategic audit is done to evaluate the functional unit of the business and grades it according to its business alignment goals.

2.Strategic Audit evaluates your current strategy by performing a Financial analysis test which reassesses the business strength and weakness and threats.

3.A strategic audit helps asses the resources of a company whereby if your goals do not match with your current resources, one has to change either the business goals or either stretch out on the supplies available

4.It is not important to perform regular strategic audits and measure implementation in order to keep on top of shifts in the environment and ensure you are always on the right path.

5.The most important requirement for the data used in the strategic review process is that they be objective. In addition, the criteria should be familiar, well-understood, and accepted measures of financial performance

6.Political variables have a significant effect onStrategy formulation and implementation

7.Accountants are most responsible for the success and failure of an organization.

8.The internalenvironmentin which a business operates can createopportunitieswhich a business can exploit, as well asthreatswhich could damage a business.

9.Value Chain Analysis describes the activities that take place in a business and relates them to an analysis of the competitive strength of the business.

10.Performance Analysis analyses the overallbalanceof the strategic business units of a business.

Multiple Choice Questions

1.A __________ is an examination and evaluation of areas affected by the operation of a strategic management process within an organization

a.strategic audit

b.sustainability reporting

c.strategy

d.systematic audit

2.The strategic audit asks you to look at how your business views itself currently in the marketplace, and where it wants to view itself. As part of this, a/an __________ will be done to ensure your current strategy is working towards success based on these.

a.SWOT Analysis

b.Resource Audit

c.Value Chain Analysis

d.Portfolio Analysis

3.Strategy evaluation at the_____________ level involves using specific performance measures-qualitative and quantitative-for each functional area.

a.organizational

b.operational

c.functional

d.production

4.What is the central purpose of strategic evaluation?

a.Evaluate effectiveness of strategy to achieve organizational objectives.

b.Evaluate effectiveness of control system to measure achievements.

c.Evaluate effectiveness of strategies to be implemented efficiently.

d.Evaluate effectiveness of the strategy implementation process.

5.Social responsibility is a critical consideration for a company's strategic decision makers since

a.Stockholders demand it

b.The mission statement must express how the company intends to contribute to the societies that sustain it

c.It increases a company's profits

d.It helps make decisions

6.Typically how many strategic decision levels are in the corporate decision-making hierarchy?

a.3

b.4

c.could be more than 5

d.2

7.Which individuals are most responsible for the success and failure of an organization?

a.Strategists

b.Financial planners

c.Personnel directors

d.Stakeholders

e.Human resource managers

8.________ analyses the overallbalanceof the strategic business units of a business.

a.Portfolio Analysis

b.Performance Analysis

c.SWOT Analysis

d.Core Competencies

9.The Following are the Qualitative Performance Indicators, Except

a.Penetration of new markets

b.Enrichment of products

c.Improvement of process

d.Market Share

10.Strategic-management audit is known as:

a.Environmental scanning

b.Strategy formulation

c.Strategy control

d.Strategy evaluation

11.Strategic issues require which level of management decisions?

a.Operative

b.Top

c.Front-line

d.Middle

12.A strategy is a company's

a.Value statement

b.Pricing policy

c.Game Plan to outsmart competitor

d.Long-term objective

13._____ refers to studying "best practice companies" to improve performance

a.Reengineering

b.Benchmarking

c.Flattening

d.Focusing

e.Bench pressing

14. __________is an important tool for auditing the overall strategic position of a business and its environment.

a.Portfolio Analysis

b.Performance Analysis

c.SWOT Analysis

d.Core Competencies

15.The strategic management process is

a.a set of activities that will assure a temporary advantage and average returns for the firm.

b.a decision-making activity concerned with a firm's internal resources, capabilities, and competencies, independent of the conditions in its external environment.

c.a process directed by top-management with input from other stakeholders that seeks to achieve above-average returns for investors through effective use of the organization's resources.

d.the full set of commitments, decisions, and actions required for the firm to achieve above-average returns and strategic competitiveness

Essay

a.Give at least 2 importance of conducting a Strategic Audit.

b.Give at least three takeaways you've learned in Strategic Audit.