Question 1

Functional managers bear responsibility for the overall performance of the company or one of its major self-contained subunits or divisions.

Accepted Answer

A) True 
 B)False

Question 2

The first component of the strategic management process is

Accepted Answer

A)  deciding on a fit between the organization's strengths and weaknesses, and the environments opportunities and threats. 
B)  analyzing the macro-environment. 
C)  analyzing the industry environment. 
D)  determining the firm's strengths and weaknesses. 
E)  crafting the organization's mission statement, which provides the framework or context within which strategies are formulated. 
A)  deciding on a fit between the organization's strengths and weaknesses, and the environments opportunities and threats. 
B)  analyzing the macro-environment. 
C)  analyzing the industry environment. 
D)  determining the firm's strengths and weaknesses. 
E)  crafting the organization's mission statement, which provides the framework or context within which strategies are formulated.

Question 3

Which of the following is the organization's principal general manager?

Accepted Answer

A)  Board of Directors 
B)  Division head 
C)  CEO 
D)  CFO 
E)  Controller 
A)  Board of Directors 
B)  Division head 
C)  CEO 
D)  CFO 
E)  Controller

Question 4

Superior performance is typically thought of in terms of one company's profitability relative to that of other companies in the same or a similar kind of business or industry.

Accepted Answer

A) True 
 B)False

Question 5

A company is said to have a competitive advantage over its rivals when its profitability is greater than the average profitability for all firms in its industry.

Accepted Answer

A) True 
 B)False

Question 6

An emergent strategy is formulated through a top-down approach.

Accepted Answer

A) True 
 B)False

Question 7

Describe at least three characteristics of strong strategic leaders. Explain how each of the three characteristics would help motivate and lead an organization's personnel.

Accepted Answer

Strong leaders have a clear vision of wh

Question 8

Within a diversified company, the responsibilities of corporate-level strategic managers include

Accepted Answer

A)  translating the corporate mission statement into concrete strategies for individual business units. 
B)  closely supervising the formulation of strategies at the functional level that support the company's business- and corporate-level strategies. 
C)  allocating resources to functions within business units. 
D)  identifying and establishing relationships with supplier firms. 
E)  overseeing the development of strategies for the total organization and allocating resources among its different businesses. 
A)  translating the corporate mission statement into concrete strategies for individual business units. 
B)  closely supervising the formulation of strategies at the functional level that support the company's business- and corporate-level strategies. 
C)  allocating resources to functions within business units. 
D)  identifying and establishing relationships with supplier firms. 
E)  overseeing the development of strategies for the total organization and allocating resources among its different businesses.

Question 9

The ___________ of a company refers to some desired future state.

Accepted Answer

A)  vision 
B)  values 
C)  goals 
D)  mission statement 
E)  stakeholders 
A)  vision 
B)  values 
C)  goals 
D)  mission statement 
E)  stakeholders

Question 10

Which of the following is not considered a part of corporate-level management?

Accepted Answer

A)  Head of R&D 
B)  The Board of Directors 
C)  Senior executives 
D)  The CEO 
E)  All of these are considered part of corporate-level management. 
A)  Head of R&D 
B)  The Board of Directors 
C)  Senior executives 
D)  The CEO 
E)  All of these are considered part of corporate-level management.

Question 11

The first component of the strategic management process is crafting the organization's mission statement, which provides the framework or context within which strategies are formulated.

Accepted Answer

A) True 
 B)False

Question 12

Scenario planning involves formulating plans that are based upon "what if" scenarios about the future.

Accepted Answer

A) True 
 B)False

Question 13

Corporate-level managers, and particularly the CEO, can be viewed as the agents of the shareholders.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is not true with regard to individuals with emotional intelligence?

Accepted Answer

A)  They are aware of their own limitations. 
B)  They make decisions by relying on their emotions. 
C)  They think before acting. 
D)  They get along well with others. 
E)  They are passionate in pursuing their goals. 
A)  They are aware of their own limitations. 
B)  They make decisions by relying on their emotions. 
C)  They think before acting. 
D)  They get along well with others. 
E)  They are passionate in pursuing their goals.

Question 15

The task of analyzing the organization's external and internal environment and then selecting appropriate strategies is known as strategy implementation.

Accepted Answer

A) True 
 B)False

Question 16

A multi-divisional company is a company that competes in several different businesses and has created a separate, self-contained division to manage each of them.

Accepted Answer

A) True 
 B)False

Question 17

Effective _________________ develop a network of formal and informal sources who keep them well informed about what is going on within their company

Accepted Answer

A)  functional managers 
B)  divisional managers 
C)  strategic leaders 
D)  business-level managers 
E)  none of the above 
A)  functional managers 
B)  divisional managers 
C)  strategic leaders 
D)  business-level managers 
E)  none of the above

Question 18

Feelings of personal responsibility for a project are most likely to lead to

Accepted Answer

A)  prior hypothesis biases. 
B)  group-think 
C)  reasoning by analogy. 
D)  representativeness. 
E)  escalating commitment 
A)  prior hypothesis biases. 
B)  group-think 
C)  reasoning by analogy. 
D)  representativeness. 
E)  escalating commitment

Question 19

The third component of the strategic management planning process, serves to pinpoint the strengths and weaknesses of the organization.

Accepted Answer

A) True 
 B)False

Question 20

Strategy formulation involves putting the strategies (or plan) into action.

Accepted Answer

A) True 
 B)False

Functional managers bear responsibility for the overall performance of the company or one of its major self-contained subunits or divisions.

The first component of the strategic management process is

Which of the following is the organization's principal general manager?

Superior performance is typically thought of in terms of one company's profitability relative to that of other companies in the same or a similar kind of business or industry.

A company is said to have a competitive advantage over its rivals when its profitability is greater than the average profitability for all firms in its industry.

An emergent strategy is formulated through a top-down approach.

Describe at least three characteristics of strong strategic leaders. Explain how each of the three characteristics would help motivate and lead an organization's personnel.

Within a diversified company, the responsibilities of corporate-level strategic managers include

The ___________ of a company refers to some desired future state.

Which of the following is not considered a part of corporate-level management?

The first component of the strategic management process is crafting the organization's mission statement, which provides the framework or context within which strategies are formulated.

Scenario planning involves formulating plans that are based upon "what if" scenarios about the future.

Corporate-level managers, and particularly the CEO, can be viewed as the agents of the shareholders.

Which of the following is not true with regard to individuals with emotional intelligence?

The task of analyzing the organization's external and internal environment and then selecting appropriate strategies is known as strategy implementation.

A multi-divisional company is a company that competes in several different businesses and has created a separate, self-contained division to manage each of them.

Effective _________________ develop a network of formal and informal sources who keep them well informed about what is going on within their company

Feelings of personal responsibility for a project are most likely to lead to

The third component of the strategic management planning process, serves to pinpoint the strengths and weaknesses of the organization.

Strategy formulation involves putting the strategies (or plan) into action.

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

Functional managers bear responsibility for the overall performance of the company or one of its major self-contained subunits or divisions.

The first component of the strategic management process is

Which of the following is the organization's principal general manager?

Superior performance is typically thought of in terms of one company's profitability relative to that of other companies in the same or a similar kind of business or industry.

A company is said to have a competitive advantage over its rivals when its profitability is greater than the average profitability for all firms in its industry.

An emergent strategy is formulated through a top-down approach.

Describe at least three characteristics of strong strategic leaders. Explain how each of the three characteristics would help motivate and lead an organization's personnel.

Within a diversified company, the responsibilities of corporate-level strategic managers include

The ___________ of a company refers to some desired future state.

Which of the following is not considered a part of corporate-level management?

The first component of the strategic management process is crafting the organization's mission statement, which provides the framework or context within which strategies are formulated.

Scenario planning involves formulating plans that are based upon "what if" scenarios about the future.

Corporate-level managers, and particularly the CEO, can be viewed as the agents of the shareholders.

Which of the following is not true with regard to individuals with emotional intelligence?

The task of analyzing the organization's external and internal environment and then selecting appropriate strategies is known as strategy implementation.

A multi-divisional company is a company that competes in several different businesses and has created a separate, self-contained division to manage each of them.

Effective _________________ develop a network of formal and informal sources who keep them well informed about what is going on within their company

Feelings of personal responsibility for a project are most likely to lead to

The third component of the strategic management planning process, serves to pinpoint the strengths and weaknesses of the organization.

Strategy formulation involves putting the strategies (or plan) into action.

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