Deck 13: Strategy Reconsidered

Question 1

Economic neo-liberalism sees ______ as the defining characteristic of human relations.

A) competition
B) monopoly
C) price-fixing
D) all of these

Answer 1

A

Question 2

Adam Smith saw the theory of ______ as central to the study of economy and society.

A) pricing goods
B) transaction efficiency
C) moral sentiments
D) custom and practice

Answer 2

C

Question 3

What was the name of the first strategy journal?

A) strategic organization
B) organization studies
C) monthly planning review
D) long range planning

Answer 3

D

Question 4

Jensen and Meckling made what theory popular in corporate circles?

A) contingency theory
B) agency theory
C) social theory
D) none of these

Question 5

Your textbook says of the 'patchwork quilt' of strategy theories that they are ______.

A) devices that help induce empirical states of affairs that correspond to their theoretical objects
B) rational accounts that correspond to objective realities
C) too abstract to be of much practical use
D) all of these

Question 6

According to your textbook, strategy is an essential part of any serious senior managers' ______.

A) tool box
B) locker
C) lunch box
D) repertoire

Question 7

The antithesis of Keynesianism is ______.

A) neo-economic liberalism
B) Marxist economics
C) autarchy
D) none of the above

Question 8

The number of American companies listed on the stock market dropped by what percentage between 1996 and 2012?

A) 25%
B) 10%
C) 50%
D) 5%

Question 9

The upshot of the political and economic changes that occurred from 1980 onwards was a significant shift in the ______ share of the economy.

A) wages/profit
B) corporate/non-profit
C) dynamic/static
D) market/non-market

Question 10

Research by Davis and Mishel showed that CEO compensation (inflation-adjusted) increased by what percentage between 1978 and 2013?

A) 37%
B) 337%
C) 637%
D) 937%

Question 11

Research by Davis and Mishel showed that the average worker's compensation (inflation-adjusted) increased by what percentage between 1978 and 2013?

A) 10.2%
B) 52%
C) 102%
D) 502%

Question 12

In 2014, the richest 1% of people in the world owned what percentage of global wealth?

A) 10%
B) 22%
C) 36%
D) 48%

Question 13

According to 2015 data, how many people own as much as the poorest half of the world's population?

A) 1,000,000
B) 100,000
C) 587
D) 62

Question 14

The practice of billing costs from an entity in a higher tax regime to an entity in a lower tax regime is called:

A) transfer pricing
B) arbitrage
C) tax evasion
D) none of these

Question 15

What do Chakravarty and Downing argue created and sustained 'the reckless and myopic culture of risk and unhinged speculation associated with global financial markets' associated with the Global Financial Crisis?

A) digital technologies
B) management consultancy firms
C) accountants
D) regulators

Question 16

______ and ______ were two early theorists of the contemporary capitalist crisis.

A) Phil Everly, Don Everly
B) John Donne,A.E. Houseman
C) Jurgen Habermas, James O'Connor
D) Bent Flybvjerg, Lars von Trier

Question 17

According to O'Connor, the state in a capitalist society exhibits contradictions in trying to fulfil which two roles?

A) supporting capital accumulation and the legitimization of capitalist society
B) balancing stakeholder and shareholder value
C) ensuring democracy and responding to lobbyists
D) maintaining social welfare and raising tax income

Question 18

According to O'Connor, the 'structural gap' refers to:

A) The gap in tax revenue between geographic regions
B) the gap in tax revenue between high-income and low-income individuals
C) the gap in tax revenue between large and small firms
D) the gap between the demands for state activity and the state's ability to raise revenue to pay for these demands

Question 19

Financialization means:

A) the processes through which the performance of financial capital becomes the key measure of economic worth in the corporate world and civil society more generally
B) a highly indebted situation in the economy due to the burden of national debt
C) becoming a cash-rich and high net-worth individual
D) none of these

Question 20

As well as The Wealth of Nations, Adam Smith also wrote a book called ______.

A) The Birth of the State
B) The Birth of Financial Capitalism
C) The Theory of the Firm
D) The Theory of Moral Sentiments

Question 21

When an abstract concept takes on seemingly lifelike properties, we can refer to it as ______.

A) nom de plume
B) a priori
C) reification
D) none of these

Question 22

According to your textbook, which of the following became increasingly institutionalized after the new economic liberalism of the Reagan/Thatcher era of the 1980s?

A) sociology
B) political science
C) business ethics
D) cultural studies

Question 23

Powell draws on Bowne's (1908) contrast between ______ and ______ theorizing.

A) liberal/fascist
B) mechanical/organic
C) abstract/concrete
D) humanistic/economic

Question 24

Rather than seeing markets as anonymous interactions of exchange, through which actors exercise rational choice so as to maximize their utility, the new economic sociology focuses instead on ______.

A) socially embedded structural dimensions
B) socially embedded cultural dimensions
C) socially embedded cognitive dimensions
D) all of these

Question 25

In order for any market to function properly, market actors must embed the market in a network structure that produces the necessary ______ among market participants for them to engage in economic exchange.

A) faith
B) beliefs
C) trust
D) stimulus

Question 26

What corporate scandal does the textbook feature to illustrate the role of moral sentiments and shared cognitive structures in contemporary strategy?

A) BP Deepwater Horizon pollution scandal
B) FIFA corruption scandal
C) Toshiba accounting scandal
D) VW emissions scandal

Question 27

What futures does your textbook see as important for future strategy?

A) digital futures
B) speculative futures
C) financial futures
D) all of these

Question 28

According to Perrey (2016), what 'must be tempered so that organizational actions do not degrade or damage the environment in ways that would inhibit future generations being able to share those same environmental resources'?

A) sustainable economic growth
B) sustainable competitive advantage
C) significant economic growth
D) all of these

Question 29

An example of a non-sustainable business practice is:

A) a car company that pursues short-term profits by misleading regulators and customers as to the levels of emission that its vehicles create
B) mineral exploitation that leaves the environment despoiled
C) regarding emissions and effluents as externalities that the community must bear
D) all of these

Question 30

In the concept of sustainable competitive advantage (SCA), the term 'sustainable' refers to:

A) sustainability measures included in the Human Development Index (HDI)
B) the triple bottom line
C) sustainability of a strategic advantage vis-à-vis competitors
D) all of these

Question 31

The UN framework for Teaching and Learning for a Sustainable Future suggests that the dimensions of sustainable development should include:

A) social dimensions
B) social and ecological dimensions
C) social, ecological and economic dimensions
D) social, ecological, economic and political dimensions

Question 32

What is a weakness of Pareto type efficiency measures of sustainability?

A) intra-nationally focused
B) ignores distributional differences between nations
C) both intra-nationally focused and ignores distributional differences between nations
D) none of these

Question 33

What model of the state does Giddens advocate to develop a more sustainable strategy for the future?

A) an assuring state
B) an interventionist state
C) an ensuring state
D) an insuring state

Question 34

Which of the following is an essential part of sustainability, according to your textbook?

A) a carbon tax
B) a value added tax
C) a goods and services tax
D) all of these

Question 35

Perrey argued that ______ is in large part formed through ______.

A) moral action/aesthetic sensibilities
B) moral action/politics
C) moral action/economics
D) all of these

Question 36

The power of corporations to act as sovereign agents in the context of the free market jeopardizes ______ that depend on the deliberation and equivalence of powers between individuals, according to your textbook.

A) economic values
B) democratic values
C) social values
D) all of these