Question 1

Employee stakeholders are concerned with

Accepted Answer

A) taxes,warranties,and regulations. 
B) wages,benefits,and job security. 
C) good citizenship behavior. 
D) dividends. 
A) taxes,warranties,and regulations. 
B) wages,benefits,and job security. 
C) good citizenship behavior. 
D) dividends.

Question 2

Procter and Gamble has perfected a technique for compacting cleaning powder into a liquid concentration.Consumers,retailers,shipping and wholesalers,and environmentalists all have benefited from the resulting change in consumer shopping habits and the revolution in industry supply-chain economics.According to the text,this is an example of

Accepted Answer

A) zero-sum relationship among stakeholders. 
B) stakeholder symbiosis. 
C) rewarding stakeholders. 
D) emphasizing financial returns. 
A) zero-sum relationship among stakeholders. 
B) stakeholder symbiosis. 
C) rewarding stakeholders. 
D) emphasizing financial returns.

Question 3

Local line leaders have ________ responsibility.

Accepted Answer

A) local 
B) executive 
C) profit-and-loss 
D) no 
A) local 
B) executive 
C) profit-and-loss 
D) no

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

Strategy analysis is the starting point of the strategic management process and consists of the

Accepted Answer

A) analysis only of the vision,mission,and objectives of the firm. 
B) analysis of the relevant internal and external environmental factors only. 
C) analysis of relevant competitors only. 
D) matching of vision,mission,and objectives with the relevant internal and external environmental factors. 
A) analysis only of the vision,mission,and objectives of the firm. 
B) analysis of the relevant internal and external environmental factors only. 
C) analysis of relevant competitors only. 
D) matching of vision,mission,and objectives with the relevant internal and external environmental factors.

Question 6

Richard Branson,the founder of the Virgin Group,is well known for creating an inclusive organizational structure in which anybody in the organization can be involved in generating and acting on new business ideas.

Accepted Answer

A) True 
 B)False

Question 7

Shell,NEC,and Procter and Gamble have been measuring their performance according to what has been called a triple bottom line.This technique involves an assessment of financial,social,and environmental performance.

Accepted Answer

A) True 
 B)False

Question 8

Ensuring effective corporate governance requires an effective and engaged board of directors,uninvolved shareholders,and proper managerial rewards and incentives.

Accepted Answer

A) True 
 B)False

Question 9

Why do organizations need three types of leaders (local line leaders,executive leaders,internal networkers)? Use industry examples to support your answer.

Accepted Answer

Organizations need three types of leader

Question 10

Using Apple,Alphabet,or Microsoft,explain how strategic management has led the company to industry dominance.Discuss the vision/mission of the company,its corporate objectives,and the leadership qualities that support this company's strategy.Be sure to use specific numerical outcomes as proof of your evaluation.

Accepted Answer

Apple has achieved industry dominance th

Question 11

According to the external control view of leadership,which of the following factors would not be considered an external factor that might positively or negatively affect a firm's success?

Accepted Answer

A) economic downturns 
B) governmental legislation 
C) outbreak of war 
D) company employee morale 
A) economic downturns 
B) governmental legislation 
C) outbreak of war 
D) company employee morale

Question 12

Entering foreign markets requires firms to ascertain foremost how they will attain

Accepted Answer

A) market share. 
B) low costs. 
C) competitive advantage. 
D) low returns on investment. 
A) market share. 
B) low costs. 
C) competitive advantage. 
D) low returns on investment.

Question 13

New value creation is a major engine for economic growth and is the main focus of ________ strategy.

Accepted Answer

A) portfolio 
B) corporate-level 
C) business-level 
D) entrepreneurial 
A) portfolio 
B) corporate-level 
C) business-level 
D) entrepreneurial

Question 14

Managers should do more than 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.

Question 15

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

Question 16

The hierarchy of organizational goals is in the following order (least specific to most specific):

Accepted Answer

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

Question 17

There are several perspectives of competition.One perspective is zero-sum thinking.Zero-sum thinking means that

Accepted Answer

A) all parts of the organization gain at no loss. 
B) in order for someone to gain others must experience no gain or benefit. 
C) one can only gain at the expense of someone else. 
D) everyone in the organization shares gains and losses equally. 
A) all parts of the organization gain at no loss. 
B) in order for someone to gain others must experience no gain or benefit. 
C) one can only gain at the expense of someone else. 
D) everyone in the organization shares gains and losses equally.

Question 18

Strategy formulation and implementation is a challenging ongoing process.To be effective,it should not involve

Accepted Answer

A) the CEO and the board of directors. 
B) the board of directors,CEO,and CFO. 
C) rivals. 
D) line and staff managers. 
A) the CEO and the board of directors. 
B) the board of directors,CEO,and CFO. 
C) rivals. 
D) line and staff managers.

Question 19

In large organizations,the potential exists for different parts of an organization to pursue its own goals rather than the overall company goals.Proper ________ can help to resolve conflicts when they arise.

Accepted Answer

A) mission statements 
B) vision statements 
C) organization structure 
D) objectives 
A) mission statements 
B) vision statements 
C) organization structure 
D) objectives

Question 20

Strategic management involves the recognition of trade-offs between effectiveness and

Accepted Answer

A) cost. 
B) value. 
C) return on investment. 
D) efficiency. 
A) cost. 
B) value. 
C) return on investment. 
D) efficiency.

Employee stakeholders are concerned with

Local line leaders have ________ responsibility.

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

Strategy analysis is the starting point of the strategic management process and consists of the

Richard Branson,the founder of the Virgin Group,is well known for creating an inclusive organizational structure in which anybody in the organization can be involved in generating and acting on new business ideas.

Shell,NEC,and Procter and Gamble have been measuring their performance according to what has been called a triple bottom line.This technique involves an assessment of financial,social,and environmental performance.

Ensuring effective corporate governance requires an effective and engaged board of directors,uninvolved shareholders,and proper managerial rewards and incentives.

Why do organizations need three types of leaders (local line leaders,executive leaders,internal networkers)? Use industry examples to support your answer.

According to the external control view of leadership,which of the following factors would not be considered an external factor that might positively or negatively affect a firm's success?

Entering foreign markets requires firms to ascertain foremost how they will attain

New value creation is a major engine for economic growth and is the main focus of ________ strategy.

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

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

The hierarchy of organizational goals is in the following order (least specific to most specific):

There are several perspectives of competition.One perspective is zero-sum thinking.Zero-sum thinking means that

Strategy formulation and implementation is a challenging ongoing process.To be effective,it should not involve

In large organizations,the potential exists for different parts of an organization to pursue its own goals rather than the overall company goals.Proper ________ can help to resolve conflicts when they arise.

Strategic management involves the recognition of trade-offs between effectiveness and

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

Exam 1: Strategic Management: Creating Competitive Advantages

Employee stakeholders are concerned with

Local line leaders have ________ responsibility.

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

Strategy analysis is the starting point of the strategic management process and consists of the

Richard Branson,the founder of the Virgin Group,is well known for creating an inclusive organizational structure in which anybody in the organization can be involved in generating and acting on new business ideas.

Shell,NEC,and Procter and Gamble have been measuring their performance according to what has been called a triple bottom line.This technique involves an assessment of financial,social,and environmental performance.

Ensuring effective corporate governance requires an effective and engaged board of directors,uninvolved shareholders,and proper managerial rewards and incentives.

Why do organizations need three types of leaders (local line leaders,executive leaders,internal networkers)? Use industry examples to support your answer.

According to the external control view of leadership,which of the following factors would not be considered an external factor that might positively or negatively affect a firm's success?

Entering foreign markets requires firms to ascertain foremost how they will attain

New value creation is a major engine for economic growth and is the main focus of ________ strategy.

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

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

The hierarchy of organizational goals is in the following order (least specific to most specific):

There are several perspectives of competition.One perspective is zero-sum thinking.Zero-sum thinking means that

Strategy formulation and implementation is a challenging ongoing process.To be effective,it should not involve

In large organizations,the potential exists for different parts of an organization to pursue its own goals rather than the overall company goals.Proper ________ can help to resolve conflicts when they arise.

Strategic management involves the recognition of trade-offs between effectiveness and

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