Anne runs a small bakery on the main street of a resort town. Though hers was the only bakery around, the business had been suffering during the economic slowdown, and she was contemplating whether she should attempt strategic planning. Anne should be aware of what research finding regarding strategic planning?
A. Only large firms show performance gains from strategic planning.
B. Only small firms show performance gains from strategic planning.
C. Performance gains from strategic planning are equal among small and large firms.
D. Both small and large firms benefit from strategic planning, but small firms get a larger boost in performance.
E. Both small and large firms benefit from strategic planning, but the small improvement in performance may not be worth the effort for small firms.
E. Both small and large firms benefit from strategic planning, but the small improvement in performance may not be worth the effort for small firms.
One analysis of several studies found that strategic planning was appropriate not just for large firms. Companies with fewer than 100 employees could benefit as well, although the improvement in financial performance was small. Nevertheless, the researchers concluded, "it may be that the small improvement in performance is not worth the effort involved in strategic planning unless a firm is in a very competitive industry where small differences in performance may affect the firm's survival potential."
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Estate Administration. Alma Zeigler, a resident of Georgia, died in June 2001. Zeigler's will named as executor her granddaughter, Stacey Hatchett. Hatchett, who was teaching and attending graduate school in Illinois, filed a petition to probate the
will in a Georgia state court, which confirmed her as executor in January 2002. The estate's main asset was a brick, three-bedroom house in Savannah. Hatchett sold the house for $65,000, without obtaining an ap-praisal, and deposited the proceeds in her personal account. Meanwhile, Zeigler's adopted son took the furnishings from the house and placed them in storage. As of August 2003, Hatchett had not inventoried these items, did not know their location, and knew only that the son lived "somewhere in Florida." Also unaccounted for was a diamond ring that had been on Zeigler's finger at the time of her death and a van that Zeigler had owned. Rita Williams, to whom the will devised certain real property, filed a petition with the court, asking that Hatchett, who had not been in Georgia since filing the petition to probate the will, be removed as executor. What are the duties of an executor, or personal representative? Did Hatchett violate these duties? Ex-plain.