Question 1

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 2

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

Accepted Answer

A)  companies that have implemented these techniques have lost money. 
B)  there is no proof that these techniques work. 
C)  they cost too much money and effort to implement. 
D)  every company is trying to implement them. 
A)  companies that have implemented these techniques have lost money. 
B)  there is no proof that these techniques work. 
C)  they cost too much money and effort to implement. 
D)  every company is trying to implement them.

Question 3

A good mission statement,by addressing each principal theme,must communicate why an organization is special and different.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

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 6

According to a recent study involving 41 business units in 10 multinational companies,one ambidextrous behavior exhibited by managers is that of being brokers who are always looking to build internal networks.

Accepted Answer

A) True 
 B)False

Question 7

Symbiosis is the ability to recognize interdependencies among the interests of multiple stakeholders within and outside an organization.

Accepted Answer

A) True 
 B)False

Question 8

Firms must exercise either informational control or behavioral control in order to assure proper strategy implementation.

Accepted Answer

A) True 
 B)False

Question 9

In contrast to the vision of an organization,its mission should

Accepted Answer

A)  be shorter in length. 
B)  encompass both the purpose of the company as well as the basis of competition. 
C)  encompass all the major rules and regulations of the corporate work force. 
D)  be less detailed. 
A)  be shorter in length. 
B)  encompass both the purpose of the company as well as the basis of competition. 
C)  encompass all the major rules and regulations of the corporate work force. 
D)  be less detailed.

Question 10

There are few benefits to having broad investment throughout the organization in the strategic management process.

Accepted Answer

A) True 
 B)False

Question 11

Leaders are responsible for creating a learning organization so that the entire organization can benefit only from the individual talents.

Accepted Answer

A) True 
 B)False

Question 12

The final realized strategy of a firm is a combination of deliberate and emergent strategies.

Accepted Answer

A) True 
 B)False

Question 13

Melvin Alexander,executive director of Principled Solutions Enterprise,a management consulting firm specializing in health care,suggests that environmental changes oblige firms to make strategic changes in order to survive.Which of the following is one of the strategic changes he foresees will occur in the next three to five years?

Accepted Answer

A)  changes in the behavior of the health care consumers 
B)  reduction in the number of available medical doctors 
C)  increases in the number of locations of health care facilities 
D)  decreases in information technology investment 
A)  changes in the behavior of the health care consumers 
B)  reduction in the number of available medical doctors 
C)  increases in the number of locations of health care facilities 
D)  decreases in information technology investment

Question 14

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

Accepted Answer

A)  portfolio 
B)  corporate-level 
C)  business-level 
D)  entrepreneurial 
A)  portfolio 
B)  corporate-level 
C)  business-level 
D)  entrepreneurial

Question 15

Managers should do more than focus on short-term financial performance.One concept that helps managers do this is stakeholder symbiosis.This means that

Accepted Answer

A)  stakeholders are dependent on each other for their success. 
B)  stakeholders look out for their individual interests. 
C)  one can only gain at the expense of someone else. 
D)  all stakeholders want to maximize shareholder returns. 
A)  stakeholders are dependent on each other for their success. 
B)  stakeholders look out for their individual interests. 
C)  one can only gain at the expense of someone else. 
D)  all stakeholders want to maximize shareholder returns.

Question 16

Strategies should be formulated that enhance foremost the ____________ capacity of a firm.

Accepted Answer

A)  innovative 
B)  learning 
C)  implementation 
D)  business-level 
A)  innovative 
B)  learning 
C)  implementation 
D)  business-level

Question 17

One of the reasons a vision fails is that too much focus can lead to missed opportunities.

Accepted Answer

A) True 
 B)False

Question 18

In large organizations,the potential exists for different parts of an organization to pursue its own goals rather than the overall company goals.Proper _______ can help to resolve conflicts when they arise.

Accepted Answer

A)  mission statements 
B)  vision statements 
C)  organization structure 
D)  objectives 
A)  mission statements 
B)  vision statements 
C)  organization structure 
D)  objectives

Question 19

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 20

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

Accepted Answer

A)  romantic and unromantic. 
B)  romantic and internal control. 
C)  external control and unromantic. 
D)  romantic and external control. 
A)  romantic and unromantic. 
B)  romantic and internal control. 
C)  external control and unromantic. 
D)  romantic and external control.

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

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

A good mission statement,by addressing each principal theme,must communicate why an organization is special and different.

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

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

According to a recent study involving 41 business units in 10 multinational companies,one ambidextrous behavior exhibited by managers is that of being brokers who are always looking to build internal networks.

Symbiosis is the ability to recognize interdependencies among the interests of multiple stakeholders within and outside an organization.

Firms must exercise either informational control or behavioral control in order to assure proper strategy implementation.

In contrast to the vision of an organization,its mission should

There are few benefits to having broad investment throughout the organization in the strategic management process.

Leaders are responsible for creating a learning organization so that the entire organization can benefit only from the individual talents.

The final realized strategy of a firm is a combination of deliberate and emergent strategies.

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

Managers should do more than focus on short-term financial performance.One concept that helps managers do this is stakeholder symbiosis.This means that

Strategies should be formulated that enhance foremost the ____________ capacity of a firm.

One of the reasons a vision fails is that too much focus can lead to missed opportunities.

In large organizations,the potential exists for different parts of an organization to pursue its own goals rather than the overall company goals.Proper _______ can help to resolve conflicts when they arise.

The ROI on sustainability efforts can be difficult to quantify because

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

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

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

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

A good mission statement,by addressing each principal theme,must communicate why an organization is special and different.

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

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

According to a recent study involving 41 business units in 10 multinational companies,one ambidextrous behavior exhibited by managers is that of being brokers who are always looking to build internal networks.

Symbiosis is the ability to recognize interdependencies among the interests of multiple stakeholders within and outside an organization.

Firms must exercise either informational control or behavioral control in order to assure proper strategy implementation.

In contrast to the vision of an organization,its mission should

There are few benefits to having broad investment throughout the organization in the strategic management process.

Leaders are responsible for creating a learning organization so that the entire organization can benefit only from the individual talents.

The final realized strategy of a firm is a combination of deliberate and emergent strategies.

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

Managers should do more than focus on short-term financial performance.One concept that helps managers do this is stakeholder symbiosis.This means that

Strategies should be formulated that enhance foremost the ____________ capacity of a firm.

One of the reasons a vision fails is that too much focus can lead to missed opportunities.

In large organizations,the potential exists for different parts of an organization to pursue its own goals rather than the overall company goals.Proper _______ can help to resolve conflicts when they arise.

The ROI on sustainability efforts can be difficult to quantify because

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

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