1. Management is obligated to monitor new external developments, evaluate the company’s progress, and make corrective adjustments in order to?

determine what changes should be made to its strategy map.

decide whether to continue or change the company’s strategic vision, objectives, strategy and/or strategy execution methods.

determine whether the company has a balanced scorecard for judging its performance.

stay on track in achieving the company’s mission and strategic vision.

determine whether the company's business model is well matched to changing market and competitive circumstances.

2. Which of the following statements about a company’s realized strategy is true?

A company’s realized strategy generally changes very little over time unless a newly appointed CEO decides to take the company in a new direction with a new strategy.

A company’s realized strategy is developed mostly on a day-to-day basis because of the constant efforts of managers to keep rival companies at a disadvantage.

A company’s realized strategy is usually kept secret.

A company’s realized strategy is typically a blend of deliberate and planned initiatives, and emergent and unplanned reactive strategy elements.

A company’s realized strategy is typically planned well in advance and usually deviates little from the planned set of actions.