Question 1

The organizational versus the individual rationality perspective suggests that objectives that are

Accepted Answer

A)  good for a functional area are always good for the overall organization. 
B)  good for the overall organization are always best for a functional area. 
C)  best for a functional area may not be best for the overall organization. 
D)  best for one functional area will never be best for all functional areas. 
A)  good for a functional area are always good for the overall organization. 
B)  good for the overall organization are always best for a functional area. 
C)  best for a functional area may not be best for the overall organization. 
D)  best for one functional area will never be best for all functional areas.

Question 2

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 3

Learning organizations permit the entire organization to benefit from ________ talents.

Accepted Answer

A)  internal and external 
B)  individual and collective 
C)  internal and collective 
D)  external and individual 
A)  internal and external 
B)  individual and collective 
C)  internal and collective 
D)  external and individual

Question 4

Effective leaders set a direction and develop an organization so that it is committed to excellence and ________ behavior.

Accepted Answer

A)  performant 
B)  strategic 
C)  ethical 
D)  positive 
A)  performant 
B)  strategic 
C)  ethical 
D)  positive

Question 5

Leadership is a necessary (but not sufficient) condition for organizational success. Leaders should emerge at which level(s) of an organization?

Accepted Answer

A)  only at the top 
B)  in the middle 
C)  throughout the organization 
D)  only during times of change 
A)  only at the top 
B)  in the middle 
C)  throughout the organization 
D)  only during times of change

Question 6

Strategy formulation at the business level addresses best how to compete in a given business

Accepted Answer

A)  to attain competitive advantage. 
B)  to reduce costs. 
C)  to decrease buyer power. 
D)  to thwart entry of new rivals. 
A)  to attain competitive advantage. 
B)  to reduce costs. 
C)  to decrease buyer power. 
D)  to thwart entry of new rivals.

Question 7

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 8

Effectiveness is often defined as

Accepted Answer

A)  doing things right. 
B)  stakeholder satisfaction. 
C)  doing the right thing. 
D)  productivity enhancement. 
A)  doing things right. 
B)  stakeholder satisfaction. 
C)  doing the right thing. 
D)  productivity enhancement.

Question 9

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 10

In strategic management, both the short-term and long-term perspectives need to be considered because

Accepted Answer

A)  shareholder value is only measured by short-term returns. 
B)  shareholders only care about long-term returns. 
C)  long-term vision precludes the analysis of present operating needs. 
D)  the creative tension between the two forces managers to develop more successful strategy. 
A)  shareholder value is only measured by short-term returns. 
B)  shareholders only care about long-term returns. 
C)  long-term vision precludes the analysis of present operating needs. 
D)  the creative tension between the two forces managers to develop more successful strategy.

Question 11

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 12

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.

Question 13

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 14

A CEO made a lot of mistakes in assessing the market and the competitive conditions and improperly redesigning the organization into numerous business units. Such errors led to significantperformance declines. According to the text, this example illustrates the ________ perspective of leadership.

Accepted Answer

A)  external control 
B)  romantic 
C)  internal mechanism 
D)  operational 
A)  external control 
B)  romantic 
C)  internal mechanism 
D)  operational

Question 15

________ may be considered the advance work that must be done in order to effectively formulate and implement strategies.

Accepted Answer

A)  Goal setting 
B)  Corporate entrepreneurship 
C)  Strategy analysis 
D)  Organizational design 
A)  Goal setting 
B)  Corporate entrepreneurship 
C)  Strategy analysis 
D)  Organizational design

Question 16

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 17

Strategic management consists of the analyses, decisions, and actions an organization undertakes in order to create and sustain competitive advantages.

Accepted Answer

A) True 
 B)False

Question 18

Our goal is to help save 100,000 more lives each year. (Varian Medical Systems) 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

Members of boards of directors are

Accepted Answer

A)  appointed by the Securities and Exchange Commission. 
B)  elected by the shareholders as their representatives. 
C)  elected by the public. 
D)  only allowed to serve one term of four years. 
A)  appointed by the Securities and Exchange Commission. 
B)  elected by the shareholders as their representatives. 
C)  elected by the public. 
D)  only allowed to serve one term of four years.

Question 20

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.

The organizational versus the individual rationality perspective suggests that objectives that are

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

Learning organizations permit the entire organization to benefit from ________ talents.

Effective leaders set a direction and develop an organization so that it is committed to excellence and ________ behavior.

Leadership is a necessary (but not sufficient) condition for organizational success. Leaders should emerge at which level(s) of an organization?

Strategy formulation at the business level addresses best how to compete in a given business

Some benefits of sustainability projects include

Effectiveness is often defined as

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

In strategic management, both the short-term and long-term perspectives need to be considered because

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.

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

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

A CEO made a lot of mistakes in assessing the market and the competitive conditions and improperly redesigning the organization into numerous business units. Such errors led to significantperformance declines. According to the text, this example illustrates the ________ perspective of leadership.

________ may be considered the advance work that must be done in order to effectively formulate and implement strategies.

The ROI on sustainability efforts can be difficult to quantify because

Strategic management consists of the analyses, decisions, and actions an organization undertakes in order to create and sustain competitive advantages.

Our goal is to help save 100,000 more lives each year. (Varian Medical Systems) This is an example of a

Members of boards of directors are

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

Analyzing the External Environment of the Firm Creating Competitive Advantages

Assessing the Internal Environment of the Firm

Recognizing a Firm's Intellectual Assets Moving beyond a Firm's 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

The organizational versus the individual rationality perspective suggests that objectives that are

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

Learning organizations permit the entire organization to benefit from ________ talents.

Effective leaders set a direction and develop an organization so that it is committed to excellence and ________ behavior.

Leadership is a necessary (but not sufficient) condition for organizational success. Leaders should emerge at which level(s) of an organization?

Strategy formulation at the business level addresses best how to compete in a given business

Some benefits of sustainability projects include

Effectiveness is often defined as

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

In strategic management, both the short-term and long-term perspectives need to be considered because

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.

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

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

A CEO made a lot of mistakes in assessing the market and the competitive conditions and improperly redesigning the organization into numerous business units. Such errors led to significantperformance declines. According to the text, this example illustrates the ________ perspective of leadership.

________ may be considered the advance work that must be done in order to effectively formulate and implement strategies.

The ROI on sustainability efforts can be difficult to quantify because

Strategic management consists of the analyses, decisions, and actions an organization undertakes in order to create and sustain competitive advantages.

Our goal is to help save 100,000 more lives each year. (Varian Medical Systems) This is an example of a

Members of boards of directors are

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

Analyzing the External Environment of the Firm Creating Competitive Advantages

Assessing the Internal Environment of the Firm

Recognizing a Firm's Intellectual Assets Moving beyond a Firm's 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