Exam 1: Strategic Management Creating Competitive Advantages

Management innovations such as total quality, benchmarking, and business process reengineering cannot lead to sustainable competitive advantage because

Corporate level strategy focuses on what businesses to compete in and

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

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

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

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

Procter and Gamble has perfected a technique for compacting cleaning powder into a liquid concentration. Consumers, retailers, shipping and wholesalers, and environmentalists all havebenefited 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

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.

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

The final realized strategy of a firm is a combination of deliberate and time-tested strategies only.

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

Stockholders as a stakeholder group are interested primarily in

Which of the following is not an example of a financial strategic objective?

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

Effective vision statements include

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?

The four key attributes of strategic management include all of the following except

Supplier stakeholders are concerned with

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