Question 1

As the dynamics of competition accelerate, people are perhaps the only truly sustainable source of competitive advantage.

Accepted Answer

A) True 
 B)False  True

Question 2

What is strategic leadership, who has primary responsibility for strategic leadership, and what are the five key strategic leadership actions?

Accepted Answer

Strategic leadership is the ability to anticipate, envision, maintain flexibility, and empower others to create strategic change. The CEO has primary responsibility for strategic leadership, which is shared with the Board of Directors, the top management team and divisional general managers. The five key strategic leadership actions are: determining a strategic direction, effectively managing the firm's resource portfolio, sustaining an effective organizational culture, emphasizing ethical practices, and establishing balanced organizational controls.

Question 3

Financial controls provide feedback about the outcomes of the firm's past actions and predictions about the results of the firm's future actions.

Accepted Answer

A) True 
 B)False  False

Question 4

____ capital increases cooperation among individuals inside and outside the firm.

Accepted Answer

A)  Human 
B)  Social 
C)  Visionary 
D)  Cultural 
A)  Human 
B)  Social 
C)  Visionary 
D)  Cultural

Question 5

Effectively managing the firm's resource portfolio (financial, human, social, and organizational capital) may be the most important strategic leadership task.

Accepted Answer

A) True 
 B)False

Question 6

Faced with declining enrollment and increased competition from not-for-profit organizations offering inexpensive art courses for new hobbyists, the for-profit Delta Academy of Art has steadfastly stayed true to its mission of offering high-quality classical art instruction for both beginners and advanced artists at high tuition. Delta has been noted for the excellence of its artistic training for decades. This is an example of:

Accepted Answer

A)  adhesion to the status quo. 
B)  lack of an envisioned future. 
C)  competence becoming a liability. 
D)  failure to have a clear core ideology. 
A)  adhesion to the status quo. 
B)  lack of an envisioned future. 
C)  competence becoming a liability. 
D)  failure to have a clear core ideology.

Question 7

Typically, a vice president would NOT be considered to hold a high enough position to be included in the top management team of an organization.

Accepted Answer

A) True 
 B)False

Question 8

Christina is evaluating Maximum Brands as an investment opportunity. She is very concerned about future financial performance by Maximum Brands. Christina does not believe that the CEO can act as a steward. Christina will probably be most concerned if:

Accepted Answer

A)  there is CEO duality. 
B)  many of the members of the Board of Directors are outsiders. 
C)  the positions of chairman of the Board and CEO are held by different persons. 
D)  there is an independent Board leadership structure. 
A)  there is CEO duality. 
B)  many of the members of the Board of Directors are outsiders. 
C)  the positions of chairman of the Board and CEO are held by different persons. 
D)  there is an independent Board leadership structure.

Question 9

Managerial actions that support development of an ethical organizational culture include all of the following EXCEPT:

Accepted Answer

A)  establishing a code of conduct. 
B)  disseminating the code of conduct to all stakeholders to inform them of the firm's ethical standards and practices. 
C)  creating a work environment in which people are treated with dignity. 
D)  disciplining whistle-blowers. 
A)  establishing a code of conduct. 
B)  disseminating the code of conduct to all stakeholders to inform them of the firm's ethical standards and practices. 
C)  creating a work environment in which people are treated with dignity. 
D)  disciplining whistle-blowers.

Question 10

Sony previously selected Sir Howard Stringer as CEO. Sir Howard was not Japanese and he was not a Sony employee before his selection. Which of the following statements is FALSE?

Accepted Answer

A)  Sony's top management team will be more heterogeneous with the addition of Sir Howard. 
B)  Sir Howard will have a broader perspective of the firm and its competitive environment than would a Sony insider. 
C)  If Sony's top management team is homogeneous, Sir Howard's future impact on Sony's strategy is ambiguous. 
D)  The decision-making process on Sony's top management team will be smoother and faster with the addition of Sir Howard. 
A)  Sony's top management team will be more heterogeneous with the addition of Sir Howard. 
B)  Sir Howard will have a broader perspective of the firm and its competitive environment than would a Sony insider. 
C)  If Sony's top management team is homogeneous, Sir Howard's future impact on Sony's strategy is ambiguous. 
D)  The decision-making process on Sony's top management team will be smoother and faster with the addition of Sir Howard.

Question 11

The balanced scorecard's perspective on learning and growth is intended to improve the firm's ability to innovate.

Accepted Answer

A) True 
 B)False

Question 12

External social capital is increasingly critical to firm success as few if any companies have all the resources to successfully compete against their rivals.

Accepted Answer

A) True 
 B)False

Question 13

Define human capital and its importance to the firm's success.

Accepted Answer

Human capital represents the knowledge a

Question 14

The CEO of CLEO, Inc., in all her communications to employees consistently refers to her dream of CLEO becoming the company of choice for employee assistance programs. She keeps this theme uppermost and it is reflected in the firm's motto, the title of its Web newsletter, and even on the company t-shirts and mugs. This is an example of the firm's:

Accepted Answer

A)  core ideology. 
B)  organizational culture. 
C)  strategy. 
D)  envisioned future. 
A)  core ideology. 
B)  organizational culture. 
C)  strategy. 
D)  envisioned future.

Question 15

Competitive aggressiveness describes a firm's:

Accepted Answer

A)  tendency to engage in new ideas and creative processes. 
B)  willingness to allow employees to take actions free of organizational constraints. 
C)  ability to be a leader in the marketplace. 
D)  propensity to take actions that allow it to outperform rivals consistently and substantially. 
A)  tendency to engage in new ideas and creative processes. 
B)  willingness to allow employees to take actions free of organizational constraints. 
C)  ability to be a leader in the marketplace. 
D)  propensity to take actions that allow it to outperform rivals consistently and substantially.

Question 16

The top management team is composed of the:

Accepted Answer

A)  heterogeneous group of advisors selected by the CEO. 
B)  CEO and chairperson of the Board. 
C)  key individuals who are responsible for selecting and implementing a firm's strategy. 
D)  officers listed in a firm's annual report and the Board of Directors. 
A)  heterogeneous group of advisors selected by the CEO. 
B)  CEO and chairperson of the Board. 
C)  key individuals who are responsible for selecting and implementing a firm's strategy. 
D)  officers listed in a firm's annual report and the Board of Directors.

Question 17

What is a top management team, and how does it affect a firm's performance and its abilities to innovate and design and implement effective strategic changes?

Accepted Answer

The top management team is composed of t

Question 18

The Enron employee who reported the financial manipulations at the company to her superiors can be considered to have engaged in:

Accepted Answer

A)  managerial opportunism. 
B)  white-collar crime. 
C)  vindictive disloyalty. 
D)  an act of courage. 
A)  managerial opportunism. 
B)  white-collar crime. 
C)  vindictive disloyalty. 
D)  an act of courage.

Question 19

The ____ is a framework firms can use to verify that they have established both strategic and financial controls to assess their performance.

Accepted Answer

A)  managerial model 
B)  holistic control system 
C)  balanced scorecard 
D)  internal auditing system 
A)  managerial model 
B)  holistic control system 
C)  balanced scorecard 
D)  internal auditing system

Question 20

Which of the following is NOT a factor that determines the amount of a manager's decision discretion?

Accepted Answer

A)  Characteristics of the manager 
B)  Characteristics of the organization 
C)  Cohesiveness of the Board of Directors 
D)  The external environmental 
A)  Characteristics of the manager 
B)  Characteristics of the organization 
C)  Cohesiveness of the Board of Directors 
D)  The external environmental

As the dynamics of competition accelerate, people are perhaps the only truly sustainable source of competitive advantage.

What is strategic leadership, who has primary responsibility for strategic leadership, and what are the five key strategic leadership actions?

Financial controls provide feedback about the outcomes of the firm's past actions and predictions about the results of the firm's future actions.

____ capital increases cooperation among individuals inside and outside the firm.

Effectively managing the firm's resource portfolio (financial, human, social, and organizational capital) may be the most important strategic leadership task.

Typically, a vice president would NOT be considered to hold a high enough position to be included in the top management team of an organization.

Christina is evaluating Maximum Brands as an investment opportunity. She is very concerned about future financial performance by Maximum Brands. Christina does not believe that the CEO can act as a steward. Christina will probably be most concerned if:

Managerial actions that support development of an ethical organizational culture include all of the following EXCEPT:

Sony previously selected Sir Howard Stringer as CEO. Sir Howard was not Japanese and he was not a Sony employee before his selection. Which of the following statements is FALSE?

The balanced scorecard's perspective on learning and growth is intended to improve the firm's ability to innovate.

External social capital is increasingly critical to firm success as few if any companies have all the resources to successfully compete against their rivals.

Define human capital and its importance to the firm's success.

Competitive aggressiveness describes a firm's:

The top management team is composed of the:

What is a top management team, and how does it affect a firm's performance and its abilities to innovate and design and implement effective strategic changes?

The Enron employee who reported the financial manipulations at the company to her superiors can be considered to have engaged in:

The ____ is a framework firms can use to verify that they have established both strategic and financial controls to assess their performance.

Which of the following is NOT a factor that determines the amount of a manager's decision discretion?

Strategic Management and Strategic Competitiveness

The External Environment: Opportunities, Threats, Industry Competition, and Competitor Analysis

The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages

Business-Level Strategy

Competitive Rivalry and Competitive Dynamics

Corporate-Level Strategy

Merger and Acquisition Strategies

International Strategy

Cooperative Strategy

Corporate Governance

Organizational Structure and Controls

Strategic Entrepreneurship

Filters

Exam 12: Strategic Leadership

As the dynamics of competition accelerate, people are perhaps the only truly sustainable source of competitive advantage.

What is strategic leadership, who has primary responsibility for strategic leadership, and what are the five key strategic leadership actions?

Financial controls provide feedback about the outcomes of the firm's past actions and predictions about the results of the firm's future actions.

____ capital increases cooperation among individuals inside and outside the firm.

Effectively managing the firm's resource portfolio (financial, human, social, and organizational capital) may be the most important strategic leadership task.

Typically, a vice president would NOT be considered to hold a high enough position to be included in the top management team of an organization.

Christina is evaluating Maximum Brands as an investment opportunity. She is very concerned about future financial performance by Maximum Brands. Christina does not believe that the CEO can act as a steward. Christina will probably be most concerned if:

Managerial actions that support development of an ethical organizational culture include all of the following EXCEPT:

Sony previously selected Sir Howard Stringer as CEO. Sir Howard was not Japanese and he was not a Sony employee before his selection. Which of the following statements is FALSE?

The balanced scorecard's perspective on learning and growth is intended to improve the firm's ability to innovate.

External social capital is increasingly critical to firm success as few if any companies have all the resources to successfully compete against their rivals.

Define human capital and its importance to the firm's success.

Competitive aggressiveness describes a firm's:

The top management team is composed of the:

What is a top management team, and how does it affect a firm's performance and its abilities to innovate and design and implement effective strategic changes?

The Enron employee who reported the financial manipulations at the company to her superiors can be considered to have engaged in:

The ____ is a framework firms can use to verify that they have established both strategic and financial controls to assess their performance.

Which of the following is NOT a factor that determines the amount of a manager's decision discretion?

Strategic Management and Strategic Competitiveness

The External Environment: Opportunities, Threats, Industry Competition, and Competitor Analysis

The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages

Business-Level Strategy

Competitive Rivalry and Competitive Dynamics

Corporate-Level Strategy

Merger and Acquisition Strategies

International Strategy

Cooperative Strategy

Corporate Governance

Organizational Structure and Controls

Strategic Entrepreneurship

Filters