Question 1

A key stakeholder group that is particularly susceptible to corporate social responsibility (CSR)initiatives is

Accepted Answer

A) suppliers. 
B) rivals. 
C) government agencies. 
D) consumers. 
A) suppliers. 
B) rivals. 
C) government agencies. 
D) consumers.

Question 2

The ROI on sustainability efforts can be difficult to quantify because

Accepted Answer

A) an excess of necessary data for accurate calculation is readily available. 
B) benefits from such projects are tangible. 
C) the payback period is on a different time frame. 
D) the payback period is on the same time frame. 
A) an excess of necessary data for accurate calculation is readily available. 
B) benefits from such projects are tangible. 
C) the payback period is on a different time frame. 
D) the payback period is on the same time frame.

Question 3

Firms must be aware of goals other than short-term profit maximization.One area of concern should be social responsibility,which is the

Accepted Answer

A) expectation that business will strive to improve the overall welfare of society. 
B) idea that organizations are solely responsible to local citizens. 
C) fact that court costs could impact the financial bottom line. 
D) idea that businesses are responsible for maintaining a healthy social climate for their employees. 
A) expectation that business will strive to improve the overall welfare of society. 
B) idea that organizations are solely responsible to local citizens. 
C) fact that court costs could impact the financial bottom line. 
D) idea that businesses are responsible for maintaining a healthy social climate for their employees.

Question 4

Two types of strategic control that firms must exercise for good strategy implementation are

Accepted Answer

A) informational and confrontational. 
B) confrontational and behavioral. 
C) behavioral and financial. 
D) informational and behavioral. 
A) informational and confrontational. 
B) confrontational and behavioral. 
C) behavioral and financial. 
D) informational and behavioral.

Question 5

Corporate-level strategy looks at how to manage the ________ of its businesses to create synergies.

Accepted Answer

A) portfolio 
B) stock prices 
C) competitors 
D) market pricing 
A) portfolio 
B) stock prices 
C) competitors 
D) market pricing

Question 6

Management innovations such as total quality,just-in-time,benchmarking,business process reengineering,and outsourcing are important but not enough for building sustainable competitive advantage.

Accepted Answer

A) True 
 B)False

Question 7

Effective vision statements include

Accepted Answer

A) all strategic directions of the organization. 
B) a brief statement of the company's direction. 
C) strategic posturing and future objectives. 
D) financial objectives and projected figures. 
A) all strategic directions of the organization. 
B) a brief statement of the company's direction. 
C) strategic posturing and future objectives. 
D) financial objectives and projected figures.

Question 8

Traditional financial models are built around relatively easy-to-measure,monetized results;whereas,the benefits of sustainability projects involve

Accepted Answer

A) clear tangibles. 
B) clear intangibles. 
C) fuzzy tangibles. 
D) fuzzy intangibles. 
A) clear tangibles. 
B) clear intangibles. 
C) fuzzy tangibles. 
D) fuzzy intangibles.

Question 9

According to the text,the strategic management process entails three ongoing processes.They are

Accepted Answer

A) analyses,actions,and synthesis. 
B) analyses,decisions,and actions. 
C) analyses,evaluation,and critique. 
D) analyses,synthesis,and decisions. 
A) analyses,actions,and synthesis. 
B) analyses,decisions,and actions. 
C) analyses,evaluation,and critique. 
D) analyses,synthesis,and decisions.

Question 10

Many organizations have a large number of functional areas with very diverse and sometimes competing interests.Such organizations will be most effective if

Accepted Answer

A) each functional area focuses on achieving their own goals. 
B) goals are defined at the bottom and implemented at the top. 
C) functional areas work together to attain overall goals. 
D) management and employees have separate goals. 
A) each functional area focuses on achieving their own goals. 
B) goals are defined at the bottom and implemented at the top. 
C) functional areas work together to attain overall goals. 
D) management and employees have separate goals.

Question 11

The four key attributes of strategic management include the idea that strategy must

Accepted Answer

A) be directed toward overall organizational goals and objectives. 
B) be focused only on long-term objectives. 
C) be focused on only one specific area of an organization. 
D) focus only on competitor strengths. 
A) be directed toward overall organizational goals and objectives. 
B) be focused only on long-term objectives. 
C) be focused on only one specific area of an organization. 
D) focus only on competitor strengths.

Question 12

Do corporate mission statements really matter? Justify your response with concrete industry examples.

Accepted Answer

Yes, corporate mission statements do mat

Question 13

Some benefits of sustainability projects include

Accepted Answer

A) reducing risks. 
B) lagging behind regulations. 
C) displeasing communities. 
D) ignoring employee morale. 
A) reducing risks. 
B) lagging behind regulations. 
C) displeasing communities. 
D) ignoring employee morale.

Question 14

Sustainability programs often find their success beyond company boundaries,thus ________ systems and ________ metrics cannot capture all of the relevant numbers.

Accepted Answer

A) external;bio 
B) internal;process 
C) external;external 
D) internal;internal 
A) external;bio 
B) internal;process 
C) external;external 
D) internal;internal

Question 15

The vision and mission statements of a company set the overall direction of the organization.Strategic objectives serve what role?

Accepted Answer

A) operationalize the mission statement 
B) modify the mission statement 
C) are a shorter version of the mission statement 
D) are only clarified by the board of directors 
A) operationalize the mission statement 
B) modify the mission statement 
C) are a shorter version of the mission statement 
D) are only clarified by the board of directors

Question 16

Trade-off decisions between effectiveness and efficiency are important in the practice of strategic management.

Accepted Answer

A) True 
 B)False

Question 17

The three primary participants in corporate governance are: (1)the shareholders,(2)the management (led by the chief executive officer),and (3)the employees.

Accepted Answer

A) True 
 B)False

Question 18

Fortune Brands states they will cut corporate overhead costs by $30 million a year.This is an example of a

Accepted Answer

A) nonfinancial strategic objective. 
B) financial strategic objective. 
C) vision statement. 
D) mission statement. 
A) nonfinancial strategic objective. 
B) financial strategic objective. 
C) vision statement. 
D) mission statement.

Question 19

For strategic management to be effective in achieving organizational goals,

Accepted Answer

A) people throughout the organization must work in isolation. 
B) top managers only take an integrative,strategic perspective. 
C) leaders alone are responsible for the organizational outcome. 
D) people throughout the organization must strive toward overall goals. 
A) people throughout the organization must work in isolation. 
B) top managers only take an integrative,strategic perspective. 
C) leaders alone are responsible for the organizational outcome. 
D) people throughout the organization must strive toward overall goals.

Question 20

Strategic management requires managers at all levels of the organization to take a segregated view of the organization.

Accepted Answer

A) True 
 B)False

A key stakeholder group that is particularly susceptible to corporate social responsibility (CSR)initiatives is

The ROI on sustainability efforts can be difficult to quantify because

Firms must be aware of goals other than short-term profit maximization.One area of concern should be social responsibility,which is the

Two types of strategic control that firms must exercise for good strategy implementation are

Corporate-level strategy looks at how to manage the ________ of its businesses to create synergies.

Management innovations such as total quality,just-in-time,benchmarking,business process reengineering,and outsourcing are important but not enough for building sustainable competitive advantage.

Effective vision statements include

Traditional financial models are built around relatively easy-to-measure,monetized results;whereas,the benefits of sustainability projects involve

According to the text,the strategic management process entails three ongoing processes.They are

Many organizations have a large number of functional areas with very diverse and sometimes competing interests.Such organizations will be most effective if

The four key attributes of strategic management include the idea that strategy must

Do corporate mission statements really matter? Justify your response with concrete industry examples.

Some benefits of sustainability projects include

Sustainability programs often find their success beyond company boundaries,thus systems and metrics cannot capture all of the relevant numbers.

The vision and mission statements of a company set the overall direction of the organization.Strategic objectives serve what role?

Trade-off decisions between effectiveness and efficiency are important in the practice of strategic management.

The three primary participants in corporate governance are: (1)the shareholders,(2)the management (led by the chief executive officer),and (3)the employees.

Fortune Brands states they will cut corporate overhead costs by $30 million a year.This is an example of a

For strategic management to be effective in achieving organizational goals,

Strategic management requires managers at all levels of the organization to take a segregated view of the organization.

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

A key stakeholder group that is particularly susceptible to corporate social responsibility (CSR)initiatives is

The ROI on sustainability efforts can be difficult to quantify because

Firms must be aware of goals other than short-term profit maximization.One area of concern should be social responsibility,which is the

Two types of strategic control that firms must exercise for good strategy implementation are

Corporate-level strategy looks at how to manage the ________ of its businesses to create synergies.

Management innovations such as total quality,just-in-time,benchmarking,business process reengineering,and outsourcing are important but not enough for building sustainable competitive advantage.

Effective vision statements include

Traditional financial models are built around relatively easy-to-measure,monetized results;whereas,the benefits of sustainability projects involve

According to the text,the strategic management process entails three ongoing processes.They are

Many organizations have a large number of functional areas with very diverse and sometimes competing interests.Such organizations will be most effective if

The four key attributes of strategic management include the idea that strategy must

Do corporate mission statements really matter? Justify your response with concrete industry examples.

Some benefits of sustainability projects include

Sustainability programs often find their success beyond company boundaries,thus ________ systems and ________ metrics cannot capture all of the relevant numbers.

The vision and mission statements of a company set the overall direction of the organization.Strategic objectives serve what role?

Trade-off decisions between effectiveness and efficiency are important in the practice of strategic management.

The three primary participants in corporate governance are: (1)the shareholders,(2)the management (led by the chief executive officer),and (3)the employees.

Fortune Brands states they will cut corporate overhead costs by $30 million a year.This is an example of a

For strategic management to be effective in achieving organizational goals,

Strategic management requires managers at all levels of the organization to take a segregated view of the organization.

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

Sustainability programs often find their success beyond company boundaries,thus systems and metrics cannot capture all of the relevant numbers.