Question 1

Emergent strategies

Accepted Answer

A)  are often a result of unplanned action taken in response to unforeseen circumstances. 
B)  are the result of rational planning. 
C)  are the product of intended strategies 
D)  always begin at the top level of an organization. 
E)  lead to deliberate strategies. 
A)  are often a result of unplanned action taken in response to unforeseen circumstances. 
B)  are the result of rational planning. 
C)  are the product of intended strategies 
D)  always begin at the top level of an organization. 
E)  lead to deliberate strategies.

Question 2

Explain the formal strategic planning process, naming each step in the process, and describing the specific activities included in each step and the relationship between the steps.

Accepted Answer

The strategy formulation portion of the

Question 3

If a company's strategy does result in superior performance, it is said to have a competitive advantage.

Accepted Answer

A) True 
 B)False

Question 4

Some organizations use an annual strategic planning process as input into the budgetary process for the coming year.

Accepted Answer

A) True 
 B)False

Question 5

Analyzing the industry environment requires an assessment of the competitive structure of the company's industry, including the competitive position of the company and its major rivals.

Accepted Answer

A) True 
 B)False

Question 6

The essential purpose of the external analysis is to identify strategic opportunities and threats in the organization's operating environment that will affect how it pursues its mission.

Accepted Answer

A) True 
 B)False

Question 7

The corporate-level of management consists of the chief executive officer (CEO), other senior executives, the board of directors, and corporate staff.

Accepted Answer

A) True 
 B)False

Question 8

Aaron planned to cut prices at his bicycle shop, but when a competing shop began to offer free repairs, Aaron decided to copy them. Aaron's new strategy (offer free repairs) is an example of a(n)

Accepted Answer

A)  mistake. 
B)  intended strategy 
C)  deliberate strategy. 
D)  emergent strategy 
E)  unrealized strategy. 
A)  mistake. 
B)  intended strategy 
C)  deliberate strategy. 
D)  emergent strategy 
E)  unrealized strategy.

Question 9

Functional managers

Accepted Answer

A)  have no strategic role in the organization. 
B)  look at the overall picture of a corporation. 
C)  are responsible for the specific business functions or operations that constitute a company or one of its divisions 
D)  formulate generic strategies. 
E)  execute business-level decisions. 
A)  have no strategic role in the organization. 
B)  look at the overall picture of a corporation. 
C)  are responsible for the specific business functions or operations that constitute a company or one of its divisions 
D)  formulate generic strategies. 
E)  execute business-level decisions.

Question 10

A global strategy addresses how to expand operations outside the home country to grow and prosper in a world where competitive advantage is determined at a global level.

Accepted Answer

A) True 
 B)False

Question 11

The formal strategic planning process has four main steps.

Accepted Answer

A) True 
 B)False

Question 12

The comparison of strengths, weaknesses, opportunities, and threats is normally referred to as a/an

Accepted Answer

A)  business-level strategy 
B)  global strategy 
C)  SWOT analysis. 
D)  emergent strategy 
E)  autonomous action 
A)  business-level strategy 
B)  global strategy 
C)  SWOT analysis. 
D)  emergent strategy 
E)  autonomous action

Question 13

Strategy implementation involves taking actions at the functional, business and corporate level to execute a strategic plan.

Accepted Answer

A) True 
 B)False

Question 14

Managers compare and contrast the various alternative possible strategies against each other with respect to their ability to achieve a competitive advantage.

Accepted Answer

A) True 
 B)False

Question 15

Describe at least three of the cognitive biases that individual decision makers experience. Then, describe a real or hypothetical situation for each of the three biases, explaining how the bias was evident in the situation.

Accepted Answer

The prior hypothesis bias claims that in

Question 16

General managers bear responsibility for specific departments within the company.

Accepted Answer

A) True 
 B)False

Question 17

The feedback loop suggests that strategic planning is ongoing; it never ends.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is not a cognitive bias?

Accepted Answer

A)  Ivory tower thinking 
B)  Reasoning by analogy 
C)  Escalating commitment 
D)  Representativeness 
E)  Illusion of control 
A)  Ivory tower thinking 
B)  Reasoning by analogy 
C)  Escalating commitment 
D)  Representativeness 
E)  Illusion of control

Question 19

Which of the following cognitive biases refers to the fact that decision makers who have strong prior beliefs about the relationship between two variables tend to make decisions on the basis of these beliefs, even when presented with evidence that their beliefs are wrong?

Accepted Answer

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

Question 20

The CEO is a company's principal general manager.

Accepted Answer

A) True 
 B)False

Emergent strategies

Explain the formal strategic planning process, naming each step in the process, and describing the specific activities included in each step and the relationship between the steps.

If a company's strategy does result in superior performance, it is said to have a competitive advantage.

Some organizations use an annual strategic planning process as input into the budgetary process for the coming year.

Analyzing the industry environment requires an assessment of the competitive structure of the company's industry, including the competitive position of the company and its major rivals.

The essential purpose of the external analysis is to identify strategic opportunities and threats in the organization's operating environment that will affect how it pursues its mission.

The corporate-level of management consists of the chief executive officer (CEO), other senior executives, the board of directors, and corporate staff.

Aaron planned to cut prices at his bicycle shop, but when a competing shop began to offer free repairs, Aaron decided to copy them. Aaron's new strategy (offer free repairs) is an example of a(n)

Functional managers

A global strategy addresses how to expand operations outside the home country to grow and prosper in a world where competitive advantage is determined at a global level.

The formal strategic planning process has four main steps.

The comparison of strengths, weaknesses, opportunities, and threats is normally referred to as a/an

Strategy implementation involves taking actions at the functional, business and corporate level to execute a strategic plan.

Managers compare and contrast the various alternative possible strategies against each other with respect to their ability to achieve a competitive advantage.

Describe at least three of the cognitive biases that individual decision makers experience. Then, describe a real or hypothetical situation for each of the three biases, explaining how the bias was evident in the situation.

General managers bear responsibility for specific departments within the company.

The feedback loop suggests that strategic planning is ongoing; it never ends.

Which of the following is not a cognitive bias?

Which of the following cognitive biases refers to the fact that decision makers who have strong prior beliefs about the relationship between two variables tend to make decisions on the basis of these beliefs, even when presented with evidence that their beliefs are wrong?

The CEO is a company's principal general manager.

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

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Exam 1: The Strategy-Making Process

Emergent strategies

Explain the formal strategic planning process, naming each step in the process, and describing the specific activities included in each step and the relationship between the steps.

If a company's strategy does result in superior performance, it is said to have a competitive advantage.

Some organizations use an annual strategic planning process as input into the budgetary process for the coming year.

Analyzing the industry environment requires an assessment of the competitive structure of the company's industry, including the competitive position of the company and its major rivals.

The essential purpose of the external analysis is to identify strategic opportunities and threats in the organization's operating environment that will affect how it pursues its mission.

The corporate-level of management consists of the chief executive officer (CEO), other senior executives, the board of directors, and corporate staff.

Aaron planned to cut prices at his bicycle shop, but when a competing shop began to offer free repairs, Aaron decided to copy them. Aaron's new strategy (offer free repairs) is an example of a(n)

Functional managers

A global strategy addresses how to expand operations outside the home country to grow and prosper in a world where competitive advantage is determined at a global level.

The formal strategic planning process has four main steps.

The comparison of strengths, weaknesses, opportunities, and threats is normally referred to as a/an

Strategy implementation involves taking actions at the functional, business and corporate level to execute a strategic plan.

Managers compare and contrast the various alternative possible strategies against each other with respect to their ability to achieve a competitive advantage.

Describe at least three of the cognitive biases that individual decision makers experience. Then, describe a real or hypothetical situation for each of the three biases, explaining how the bias was evident in the situation.

General managers bear responsibility for specific departments within the company.

The feedback loop suggests that strategic planning is ongoing; it never ends.

Which of the following is not a cognitive bias?

Which of the following cognitive biases refers to the fact that decision makers who have strong prior beliefs about the relationship between two variables tend to make decisions on the basis of these beliefs, even when presented with evidence that their beliefs are wrong?

The CEO is a company's principal general manager.

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