Question 1

Devil's advocacy, dialectic inquiry, and the outside view are techniques for enhancing the effectiveness of ______________________.

Accepted Answer

A)  the willingness to delegate responsibilities. 
B)  emotional intelligence. 
C)  strategic decision-making. 
D)  the strategic direction of the organization. 
E)  none of the above. 
A)  the willingness to delegate responsibilities. 
B)  emotional intelligence. 
C)  strategic decision-making. 
D)  the strategic direction of the organization. 
E)  none of the above.

Question 2

Devil's advocacy is a technique in which three members of a decision-making group acts as the devil's advocate, bringing out all the considerations that might make the proposal unacceptable.

Accepted Answer

A) True 
 B)False

Question 3

A strategy can be defined as a set of related actions that managers take to increase their company's performance relative to rivals.

Accepted Answer

A) True 
 B)False

Question 4

A mission statement has five main components.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following cognitive biases occurs when decision makers commit even more resources if they receive feedback that the project is failing?

Accepted Answer

A)  Prior hypothesis bias 
B)  Escalating commitment 
C)  Illusion of control 
D)  Reasoning by analogy 
E)  Representativeness 
A)  Prior hypothesis bias 
B)  Escalating commitment 
C)  Illusion of control 
D)  Reasoning by analogy 
E)  Representativeness

Question 6

Discuss the elements of the external operating environment, including the industry environment, the national environment, and macro-environment.

Accepted Answer

The essential purpose is to identify str

Question 7

Managers are the lynch pin in the strategy-making process.

Accepted Answer

A) True 
 B)False

Question 8

Vice President James E. Small is responsible for executing decisions about human resources. Mr. Small is

Accepted Answer

A)  a functional manager 
B)  both a corporate- and business-level general manager. 
C)  a business-level general manager. 
D)  a corporate-level general manager 
E)  a corporate-level, business-level, and functional manager. 
A)  a functional manager 
B)  both a corporate- and business-level general manager. 
C)  a business-level general manager. 
D)  a corporate-level general manager 
E)  a corporate-level, business-level, and functional manager.

Question 9

Strategy formulation refers to the

Accepted Answer

A)  task of analyzing the organization's external and internal environment and then selecting an appropriate strategy. 
B)  process by which strategies are put into action. 
C)  top-down planning process that gives rise to the implementation of emergent strategies. 
D)  task of analyzing an organization's external and internal environment and then selecting an appropriate strategy. 
E)  process of choosing a realized strategy. 
A)  task of analyzing the organization's external and internal environment and then selecting an appropriate strategy. 
B)  process by which strategies are put into action. 
C)  top-down planning process that gives rise to the implementation of emergent strategies. 
D)  task of analyzing an organization's external and internal environment and then selecting an appropriate strategy. 
E)  process of choosing a realized strategy.

Question 10

Jeffrey Pfeffer believes that a manager's political power comes from his or her control over

Accepted Answer

A)  employee's paychecks. 
B)  the firm's strategic vision. 
C)  the company's website. 
D)  internal communication channels. 
E)  organizational resources. 
A)  employee's paychecks. 
B)  the firm's strategic vision. 
C)  the company's website. 
D)  internal communication channels. 
E)  organizational resources.

Question 11

Corporate-level managers provide a link between the people who oversee the strategic development of a firm and those who own it (the shareholders).

Accepted Answer

A) True 
 B)False

Question 12

Critics of formal planning systems argue that we live in a world in which uncertainty, complexity, and ambiguity dominate, and in which small chance events can have a large and unpredictable impact on outcomes.

Accepted Answer

A) True 
 B)False

Question 13

A company is said to have a sustained competitive advantage when it is able to maintain above-average profitability for at least two quarters.

Accepted Answer

A) True 
 B)False

Question 14

Betsy Holden is the head of Kraft Foods, a division of the Philip Morris Company. Which of the following is not likely to be one of Ms. Holden's responsibilities?

Accepted Answer

A)  Turning corporate-level strategy into action 
B)  Supervising functional-level managers 
C)  Deciding how to compete in the foods industry 
D)  Defining Philip Morris' mission 
E)  Developing a business-level strategy 
A)  Turning corporate-level strategy into action 
B)  Supervising functional-level managers 
C)  Deciding how to compete in the foods industry 
D)  Defining Philip Morris' mission 
E)  Developing a business-level strategy

Question 15

The central purpose of a SWOT analysis is to identify strategies which create a company-specific business model that best aligns or matches the company's resources and capabilities to its environment.

Accepted Answer

A) True 
 B)False

Question 16

According to Mintzberg, emergent strategies are

Accepted Answer

A)  most useful when the future is certain. 
B)  less likely to be successful than other types of strategies. 
C)  usually developed by the firm's CEO and top managers. 
D)  exactly the same as deliberate strategies. 
E)  often successful and may be more appropriate than intended strategies. 
A)  most useful when the future is certain. 
B)  less likely to be successful than other types of strategies. 
C)  usually developed by the firm's CEO and top managers. 
D)  exactly the same as deliberate strategies. 
E)  often successful and may be more appropriate than intended strategies.

Question 17

The scenario approach to strategic planning involves

Accepted Answer

A)  using computers to build virtual worlds for top-level managers. 
B)  honing in on a single prediction of future demand conditions using an iterative planning process. 
C)  functional managers setting key corporate objectives. 
D)  formulating plans that are based upon "what if" scenarios about the future. 
E)  making planning the exclusive domain of top-level managers. 
A)  using computers to build virtual worlds for top-level managers. 
B)  honing in on a single prediction of future demand conditions using an iterative planning process. 
C)  functional managers setting key corporate objectives. 
D)  formulating plans that are based upon "what if" scenarios about the future. 
E)  making planning the exclusive domain of top-level managers.

Question 18

One important way in which managers can make better use of their knowledge and information is to understand and manage their _____________ during the course of decision-making

Accepted Answer

A)  dialectic inquiry 
B)  illusion of control 
C)  commitment 
D)  emotions 
E)  use of power 
A)  dialectic inquiry 
B)  illusion of control 
C)  commitment 
D)  emotions 
E)  use of power

Question 19

Action taken by lower-level managers who, on their own initiative, formulate new strategies and work to persuade top-level managers to alter the strategic priorities of a company is considered a business-level strategy.

Accepted Answer

A) True 
 B)False

Question 20

A mission statement has ____________ main components

Accepted Answer

A)  three 
B)  five 
C)  two 
D)  four 
E)  six 
A)  three 
B)  five 
C)  two 
D)  four 
E)  six

Devil's advocacy, dialectic inquiry, and the outside view are techniques for enhancing the effectiveness of ______________________.

Devil's advocacy is a technique in which three members of a decision-making group acts as the devil's advocate, bringing out all the considerations that might make the proposal unacceptable.

A strategy can be defined as a set of related actions that managers take to increase their company's performance relative to rivals.

A mission statement has five main components.

Which of the following cognitive biases occurs when decision makers commit even more resources if they receive feedback that the project is failing?

Discuss the elements of the external operating environment, including the industry environment, the national environment, and macro-environment.

Managers are the lynch pin in the strategy-making process.

Vice President James E. Small is responsible for executing decisions about human resources. Mr. Small is

Strategy formulation refers to the

Jeffrey Pfeffer believes that a manager's political power comes from his or her control over

Corporate-level managers provide a link between the people who oversee the strategic development of a firm and those who own it (the shareholders).

Critics of formal planning systems argue that we live in a world in which uncertainty, complexity, and ambiguity dominate, and in which small chance events can have a large and unpredictable impact on outcomes.

A company is said to have a sustained competitive advantage when it is able to maintain above-average profitability for at least two quarters.

Betsy Holden is the head of Kraft Foods, a division of the Philip Morris Company. Which of the following is not likely to be one of Ms. Holden's responsibilities?

The central purpose of a SWOT analysis is to identify strategies which create a company-specific business model that best aligns or matches the company's resources and capabilities to its environment.

According to Mintzberg, emergent strategies are

The scenario approach to strategic planning involves

One important way in which managers can make better use of their knowledge and information is to understand and manage their _____________ during the course of decision-making

Action taken by lower-level managers who, on their own initiative, formulate new strategies and work to persuade top-level managers to alter the strategic priorities of a company is considered a business-level strategy.

A mission statement has ____________ main components

The Mission, Governance, and Business Ethics

External Analysis: the Identification of Opportunities and Threats

Building Competitive Advantage

Business-Level Strategy and Competitive Positioning

Strategy in the Global Environment

Corporate-Level Strategy and Long-Run Profitability

Strategic Change: Implementing Strategies to Build and Develop a Company

Implementing Strategy Through Organizational Design

Filters

Exam 1: The Strategy-Making Process

Devil's advocacy, dialectic inquiry, and the outside view are techniques for enhancing the effectiveness of ______________________.

Devil's advocacy is a technique in which three members of a decision-making group acts as the devil's advocate, bringing out all the considerations that might make the proposal unacceptable.

A strategy can be defined as a set of related actions that managers take to increase their company's performance relative to rivals.

A mission statement has five main components.

Which of the following cognitive biases occurs when decision makers commit even more resources if they receive feedback that the project is failing?

Discuss the elements of the external operating environment, including the industry environment, the national environment, and macro-environment.

Managers are the lynch pin in the strategy-making process.

Vice President James E. Small is responsible for executing decisions about human resources. Mr. Small is

Strategy formulation refers to the

Jeffrey Pfeffer believes that a manager's political power comes from his or her control over

Corporate-level managers provide a link between the people who oversee the strategic development of a firm and those who own it (the shareholders).

Critics of formal planning systems argue that we live in a world in which uncertainty, complexity, and ambiguity dominate, and in which small chance events can have a large and unpredictable impact on outcomes.

A company is said to have a sustained competitive advantage when it is able to maintain above-average profitability for at least two quarters.

Betsy Holden is the head of Kraft Foods, a division of the Philip Morris Company. Which of the following is not likely to be one of Ms. Holden's responsibilities?

The central purpose of a SWOT analysis is to identify strategies which create a company-specific business model that best aligns or matches the company's resources and capabilities to its environment.

According to Mintzberg, emergent strategies are

The scenario approach to strategic planning involves

One important way in which managers can make better use of their knowledge and information is to understand and manage their _____________ during the course of decision-making

Action taken by lower-level managers who, on their own initiative, formulate new strategies and work to persuade top-level managers to alter the strategic priorities of a company is considered a business-level strategy.

A mission statement has ____________ main components

The Mission, Governance, and Business Ethics

External Analysis: the Identification of Opportunities and Threats

Building Competitive Advantage

Business-Level Strategy and Competitive Positioning

Strategy in the Global Environment

Corporate-Level Strategy and Long-Run Profitability

Strategic Change: Implementing Strategies to Build and Develop a Company

Implementing Strategy Through Organizational Design

Filters