Question 1

Members of boards of directors are

Accepted Answer

A)  appointed by the Securities and Exchange Commission. 
B)  elected by the shareholders as their representatives. 
C)  elected by the public. 
D)  only allowed to serve one term of four years. 
A)  appointed by the Securities and Exchange Commission. 
B)  elected by the shareholders as their representatives. 
C)  elected by the public. 
D)  only allowed to serve one term of four years.

Question 2

The strategic management process includes strategy analysis, strategy formulation, and strategy implementation. Discuss each of these steps.

Accepted Answer

The strategic management process is a se

Question 3

According to the text, the "triple bottom line" approach to corporate accounting includes which three components

Accepted Answer

A)  financial, environmental, and customer. 
B)  financial, organizational, and customer. 
C)  financial, environmental, and social. 
D)  financial, organizational, and psychological. 
A)  financial, environmental, and customer. 
B)  financial, organizational, and customer. 
C)  financial, environmental, and social. 
D)  financial, organizational, and psychological.

Question 4

The text argues that a strategic perspective in an organization should be emphasized

Accepted Answer

A)  at the top of the organization. 
B)  at the middle of the organization. 
C)  throughout the organization. 
D)  from the bottom up. 
A)  at the top of the organization. 
B)  at the middle of the organization. 
C)  throughout the organization. 
D)  from the bottom up.

Question 5

Intellectual capital is becoming increasingly important in today's economy. It is a concern of managers throughout organizations.

Accepted Answer

A) True 
 B)False

Question 6

An organization is responsible to many different entities. In order to meet the demands of these groups, organizations must participate in stakeholder management. Stakeholder management means that

Accepted Answer

A)  interests of the shareholders are not the only interests that matter. 
B)  stakeholders are second in importance to the shareholders. 
C)  stakeholders and managers inevitably work at cross-purposes. 
D)  all stakeholders receive financial rewards. 
A)  interests of the shareholders are not the only interests that matter. 
B)  stakeholders are second in importance to the shareholders. 
C)  stakeholders and managers inevitably work at cross-purposes. 
D)  all stakeholders receive financial rewards.

Question 7

Fortune Brands states they will "cut corporate costs by $30 million a year." This is an example of a

Accepted Answer

A)  nonfinancial strategic objective. 
B)  financial strategic objective. 
C)  vision statement. 
D)  mission statement. 
A)  nonfinancial strategic objective. 
B)  financial strategic objective. 
C)  vision statement. 
D)  mission statement.

Question 8

Stakeholders are

Accepted Answer

A)  a new way to describe shareholders. 
B)  individuals, groups, and organizations who have a stake in the success of the organization. 
C)  creditors who hold a lien on the assets of the organization. 
D)  attorneys and their clients who sue the organization. 
A)  a new way to describe shareholders. 
B)  individuals, groups, and organizations who have a stake in the success of the organization. 
C)  creditors who hold a lien on the assets of the organization. 
D)  attorneys and their clients who sue the organization.

Question 9

In terms of strategy analysis, the textbook describes Roth, CEO of Nortel, as having

Accepted Answer

A)  set low targets. 
B)  ignored the experiences of competitors and set unrealistically high growth targets. 
C)  focused on the economic landscape. 
D)  all of these are correct 
A)  set low targets. 
B)  ignored the experiences of competitors and set unrealistically high growth targets. 
C)  focused on the economic landscape. 
D)  all of these are correct

Question 10

Many organizations have a large number of functional areas with very diverse, and sometimes competing, interests. Such organizations will be most effective if

Accepted Answer

A)  each functional area focuses on achieving their own goals. 
B)  functional areas work together to attain overall goals. 
C)  goals are defined at the bottom and implemented at the top. 
D)  management and employees have separate goals. 
A)  each functional area focuses on achieving their own goals. 
B)  functional areas work together to attain overall goals. 
C)  goals are defined at the bottom and implemented at the top. 
D)  management and employees have separate goals.

Question 11

Organizational vision statements are the beginning point for the hierarchy of goals throughout the organization. An organization's vision statement should be massively inspiring, overarching, and long-term.

Accepted Answer

A) True 
 B)False

Question 12

Operational effectiveness includes all except

Accepted Answer

A)  benchmarking. 
B)  performing different activities than rivals. 
C)  business process re-engineering. 
D)  just-in-time. 
A)  benchmarking. 
B)  performing different activities than rivals. 
C)  business process re-engineering. 
D)  just-in-time.

Question 13

Firms must be concerned with many types of capital. In the broader sense, these could include

Accepted Answer

A)  employee goals. 
B)  organizational vision. 
C)  mission statements. 
D)  ecological, material, and social. 
A)  employee goals. 
B)  organizational vision. 
C)  mission statements. 
D)  ecological, material, and social.

Question 14

The hierarchy of organizational goals is in this order (least specific to most specific)

Accepted Answer

A)  vision statements, strategic objectives, and mission statements. 
B)  mission statements, strategic objectives, and vision statements. 
C)  vision statements, mission statements, and strategic objectives. 
D)  mission statements, vision statements, and strategic objectives. 
A)  vision statements, strategic objectives, and mission statements. 
B)  mission statements, strategic objectives, and vision statements. 
C)  vision statements, mission statements, and strategic objectives. 
D)  mission statements, vision statements, and strategic objectives.

Question 15

A mission statement encompasses both the purpose of the company as well as the basis of competition and competitive advantage.

Accepted Answer

A) True 
 B)False

Question 16

Managers should do more than just focus on short-term financial performance. One concept that helps managers do this is stakeholder symbiosis. This means that

Accepted Answer

A)  stakeholders are dependent on each other for their success. 
B)  stakeholders look out for their individual interests. 
C)  one can only gain at the expense of someone else. 
D)  all stakeholders want to maximize shareholder returns. 
A)  stakeholders are dependent on each other for their success. 
B)  stakeholders look out for their individual interests. 
C)  one can only gain at the expense of someone else. 
D)  all stakeholders want to maximize shareholder returns.

Members of boards of directors are

The strategic management process includes strategy analysis, strategy formulation, and strategy implementation. Discuss each of these steps.

According to the text, the "triple bottom line" approach to corporate accounting includes which three components

The text argues that a strategic perspective in an organization should be emphasized

Intellectual capital is becoming increasingly important in today's economy. It is a concern of managers throughout organizations.

An organization is responsible to many different entities. In order to meet the demands of these groups, organizations must participate in stakeholder management. Stakeholder management means that

Fortune Brands states they will "cut corporate costs by $30 million a year." This is an example of a

Stakeholders are

In terms of strategy analysis, the textbook describes Roth, CEO of Nortel, as having

Many organizations have a large number of functional areas with very diverse, and sometimes competing, interests. Such organizations will be most effective if

Organizational vision statements are the beginning point for the hierarchy of goals throughout the organization. An organization's vision statement should be massively inspiring, overarching, and long-term.

Operational effectiveness includes all except

Firms must be concerned with many types of capital. In the broader sense, these could include

The hierarchy of organizational goals is in this order (least specific to most specific)

A mission statement encompasses both the purpose of the company as well as the basis of competition and competitive advantage.

Managers should do more than just focus on short-term financial performance. One concept that helps managers do this is stakeholder symbiosis. This means that

Analyzing the External Environment of the Firm: Creating Competitive Advantages

Assessing the Internal Environment of the Firm

Recognizing a Firms Intellectual Assets: Moving Beyond a Firms Tangible Resources

Business-Level Strategy: Creating and Sustaining Competitive Advantages

Corporate-Level Strategy: Creating Value Through Diversification

International Strategy: Creating Value in Global Markets

Entrepreneurial Strategy and Competitive Dynamics

Strategic Control and Corporate Governance

Creating Effective Organizational Designs

Strategic Leadership: Creating a Learning Organization and an Ethical Organization

Managing Innovation and Fostering Corporate Entrepreneurship

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Exam 1: Strategic Management: Creating Competitive Advantages

Members of boards of directors are

The strategic management process includes strategy analysis, strategy formulation, and strategy implementation. Discuss each of these steps.

According to the text, the "triple bottom line" approach to corporate accounting includes which three components

The text argues that a strategic perspective in an organization should be emphasized

Intellectual capital is becoming increasingly important in today's economy. It is a concern of managers throughout organizations.

An organization is responsible to many different entities. In order to meet the demands of these groups, organizations must participate in stakeholder management. Stakeholder management means that

Fortune Brands states they will "cut corporate costs by $30 million a year." This is an example of a

Stakeholders are

In terms of strategy analysis, the textbook describes Roth, CEO of Nortel, as having

Many organizations have a large number of functional areas with very diverse, and sometimes competing, interests. Such organizations will be most effective if

Organizational vision statements are the beginning point for the hierarchy of goals throughout the organization. An organization's vision statement should be massively inspiring, overarching, and long-term.

Operational effectiveness includes all except

Firms must be concerned with many types of capital. In the broader sense, these could include

The hierarchy of organizational goals is in this order (least specific to most specific)

A mission statement encompasses both the purpose of the company as well as the basis of competition and competitive advantage.

Managers should do more than just focus on short-term financial performance. One concept that helps managers do this is stakeholder symbiosis. This means that

Analyzing the External Environment of the Firm: Creating Competitive Advantages

Assessing the Internal Environment of the Firm

Recognizing a Firms Intellectual Assets: Moving Beyond a Firms Tangible Resources

Business-Level Strategy: Creating and Sustaining Competitive Advantages

Corporate-Level Strategy: Creating Value Through Diversification

International Strategy: Creating Value in Global Markets

Entrepreneurial Strategy and Competitive Dynamics

Strategic Control and Corporate Governance

Creating Effective Organizational Designs

Strategic Leadership: Creating a Learning Organization and an Ethical Organization

Managing Innovation and Fostering Corporate Entrepreneurship

Filters