Exam 1: Strategic Management: Creating Competitive Advantages

All successful firms compete and outperform their rivals by developing bases for competitive advantage,which can be achieved only through cost leadership.

Explain how corporate governance mechanisms are used in the strategic management process.Illustrate the role of each stakeholder with industry examples.

Successful organizations are effective in motivating people.Employees work best when

Strategy analysis is the study of only the big picture external environments of the firm.

Peter Senge,of MIT,recognized three types of leaders.________ are individuals that,although having little positional power and formal authority,generate their power through the conviction and clarity of their ideas.

The text addresses two perspectives of leadership as well as their implications.These two perspectives are

To inculcate a strategic management perspective,managers must create management ________ to foster change.

Wall Street executives have received excessive bonus pay in the past.This concerns which of the following stakeholder groups most directly?

The innovation paradox implies that consistency in products and services provokes a tension with the need for new products.This results in a conflict between

Much research has supported the notion that individuals work much harder when they are asked to do their best rather than when they are striving toward a specific goal.

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

Social responsibility is the idea that organizations are only accountable to stockholders.

While working to prioritize and fulfill their responsibilities,members of the board of directors of an organization should

In large organizations,conflicts can arise between functional areas.In order to resolve these conflicts,strategic objectives

Effectiveness is often defined as

Stockholders as a stakeholder group are interested primarily in

Strategic coherence is an essential element for assuring that a company's mission/vision is realized.Describe the factors that are involved in creating strategic coherence.Use an industry example to support your description and explain how the objectives meet the SMART criteria (Specific,Measurable,Appropriate,Realistic,Timely).

Ambidextrous behaviors in individuals illustrate how a dual capacity for ________ can be woven into the fabric of an organization at the individual level.

The vision of an organization is at the top level of its hierarchy of organizational goals.The vision statement should be massively inspiring,overarching,and long term.

The case for sustainability projects needs to be made on the basis of a more holistic and comprehensive understanding of all the ________ benefits.