Back to Module Strategic Business Partner Assessment 2 0% Complete 0/0 Steps Quiz 1 of 0 Strategic Business Partner Assessment 2 Well done! You have completed the topic. Let’s review your learning The pass mark is 70%. If you score less than this, please review your answers and restart the quiz. Time limit: 0 Quiz Summary 0 of 5 Questions completed Questions: Information You have already completed the quiz before. Hence you can not start it again. Quiz is loading… You must sign in or sign up to start the quiz. You must first complete the following: Results Quiz complete. Results are being recorded. Results 0 of 5 Questions answered correctly Your time: Time has elapsed You have reached 0 of 0 point(s), (0) Earned Point(s): 0 of 0, (0) 0 Essay(s) Pending (Possible Point(s): 0) Categories Not categorized 0% Show Question 1 Show Question 2 Show Question 3 Show Question 4 Show Question 5 Review Answered Correct Incorrect Question 1 of 5 1. Question What key capabilities does Patrick Dunne say boards need to have in place for the new “Sat-Nav” decision-making approach? Robust data that can be efficiently analyzed, the ability to test assumptions, and an agile mindset Correct Incorrect Correct answer Detailed annual budgets, clear long-term strategic plans, and a risk-averse decision-making process Correct Incorrect Correct answer Experienced board members with deep industry knowledge, access to external consultants, and formal voting procedures Correct Incorrect Correct answer Frequent communication with shareholders, a focus on short-term earnings growth, and the willingness to make bold moves Correct Incorrect Correct answer Correct Incorrect Question 2 of 5 2. Question Why must finance leaders carefully gather all relevant facts before contributing to decision-making? To avoid making hasty decisions that could lead to financial commitments going wrong Correct Incorrect Correct answer To demonstrate their financial expertise and justify the importance of the finance function Correct Incorrect Correct answer To uncover new opportunities for cost savings and revenue growth in the business Correct Incorrect Correct answer To align with the CEO's strategic vision and ensure finance is supporting the overall plan Correct Incorrect Correct answer Correct Incorrect Question 3 of 5 3. Question What are the key characteristics of a truly “data-savvy” board? Ability to understand the data presented and put it in context Correct Incorrect Correct answer Capacity to interrogate data, assess its reliability, and recognize biases Correct Incorrect Correct answer Understanding the difference between correlation and causation Correct Incorrect Correct answer All of the above Correct Incorrect Correct answer Correct Incorrect Question 4 of 5 4. Question What should finance leaders do to ensure the data they provide is useful and in the right format? Centralize all data into a single finance system for easier reporting Correct Incorrect Correct answer Ask the target audience what format and level of detail they would like Correct Incorrect Correct answer Hire a team of data analysts to interpret the data for decision-makers Correct Incorrect Correct answer Benchmark the data against industry peers to validate its accuracy Correct Incorrect Correct answer Correct Incorrect Question 5 of 5 5. Question What does the “FIDO” mnemonic recommend as a key step in responding to potential conflict situations? Focus on the facts and avoid making assumptions Correct Incorrect Correct answer Identify the potential outcomes and decide on a course of action Correct Incorrect Correct answer Discuss the issue openly to improve mutual understanding Correct Incorrect Correct answer All of the above Correct Incorrect Correct answer Correct Incorrect
