Question 1

According to Henry Mintzberg, the final realized strategy of a firm is

Accepted Answer

A)  a combination of deliberate and emergent strategies. 
B)  a combination of deliberate and differentiation strategies. 
C)  not deliberate. 
D)  a result of unrealized intended strategy.

Question 2

Trade-off decisions between effectiveness and efficiency are important in the practice of strategic management.

Accepted Answer

A) True 
 B)False

Question 3

Peter Senge, of MIT, recognized three types of leaders. Which of the following describes individuals who champion and guide ideas, create learning infrastructure, and establish a domain for taking action?

Accepted Answer

A)  local line leaders 
B)  executive leaders 
C)  internal networkers 
D)  shop floor leaders

Question 4

Shell, NEC, and Procter and Gamble have been measuring their performance according to what has been called a triple bottom line. This technique involves an assessment of financial, social,and environmental performance.

Accepted Answer

A) True 
 B)False

Question 5

Ms) Frederica Marchionni became CEO of Land's End in February 2015 when the company showed a 73.8 million-dollar profit. By mid-June of 2016, the company had lost 27.2 million dollars.What went wrong?

Accepted Answer

A)  The new leadership did not understand the corporate culture and image. 
B)  The marketplace liked the new image. 
C)  The founder undermined the new CEO in her ability to bring about change. 
D)  The new goals and objectives were coherent with the company mission statement.

Question 6

In large organizations, conflicts can arise between functional areas. In order to resolve these conflicts, strategic objectives

Accepted Answer

A)  put financial objectives above human considerations. 
B)  align departments toward departmental goals. 
C)  help resolve conflicts through their common purpose. 
D)  cause debate and increase conflict.

Question 7

Vision statements are used to create a better understanding of the overall purpose and direction of the organization. Vision statements

Accepted Answer

A)  are very specific. 
B)  provide specific objectives. 
C)  set organizational structure. 
D)  are massively inspiring.

Question 8

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.

Question 9

In choosing to focus on stakeholders, which of the following will not lead to success for a manager?

Accepted Answer

A)  shareholders and employees 
B)  employees and suppliers 
C)  customers and the community at large 
D)  customers only

Question 10

Strategy formulation and implementation is a challenging ongoing process. To be effective, it should not involve

Accepted Answer

A)  the CEO and the board of directors. 
B)  the board of directors, CEO, and CFO. 
C)  rivals. 
D)  line and staff managers.

Question 11

Peter Senge, of MIT, recognized three types of leaders. ________ are individuals that, although having little positional power and formal authority, generate their power through the conviction and clarity of their ideas.

Accepted Answer

A)  Local line leaders 
B)  Executive leaders 
C)  Internal networkers 
D)  Shop floor leaders

Question 12

Netflix inculcates a strategic management perspective by

Accepted Answer

A)  emphasizing transparency. 
B)  creating an environment of non-sharing. 
C)  obliging a top-down management style. 
D)  training only high potential employees.

Question 13

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.

Question 14

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

Accepted Answer

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

Question 15

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 resolveconflicts when they arise.

Accepted Answer

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

Question 16

The strategic management process should be addressed only by top-level executives. Mid-level and low-level employees are best equipped to implement the strategies of the organization.

Accepted Answer

A) True 
 B)False

Question 17

Strategy analysis is the study of only the big picture external environments of the firm.

Accepted Answer

A) True 
 B)False

Question 18

Successful organizations are effective in motivating people. Employees work best when

Accepted Answer

A)  they are asked to do their best. 
B)  work requirements are vague and unclear. 
C)  they are striving toward specific goals. 
D)  they are guided by an abstract mission statement.

Question 19

Decisions by boards of directors are always consistent with shareholder interests.

Accepted Answer

A) True 
 B)False

Question 20

Effective organizational design means that firms must have ________ that are consistent with their strategy.

Accepted Answer

A)  designs and plans 
B)  organizational structures and designs 
C)  adopters and designs 
D)  adopters and plans

Exam 1: Strategic Management Creating Competitive Advantages

According to Henry Mintzberg, the final realized strategy of a firm is

Trade-off decisions between effectiveness and efficiency are important in the practice of strategic management.

Peter Senge, of MIT, recognized three types of leaders. Which of the following describes individuals who champion and guide ideas, create learning infrastructure, and establish a domain for taking action?

Shell, NEC, and Procter and Gamble have been measuring their performance according to what has been called a triple bottom line. This technique involves an assessment of financial, social,and environmental performance.

Ms) Frederica Marchionni became CEO of Land's End in February 2015 when the company showed a 73.8 million-dollar profit. By mid-June of 2016, the company had lost 27.2 million dollars.What went wrong?

In large organizations, conflicts can arise between functional areas. In order to resolve these conflicts, strategic objectives

Vision statements are used to create a better understanding of the overall purpose and direction of the organization. Vision statements

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

In choosing to focus on stakeholders, which of the following will not lead to success for a manager?

Strategy formulation and implementation is a challenging ongoing process. To be effective, it should not involve

Peter Senge, of MIT, recognized three types of leaders. ________ are individuals that, although having little positional power and formal authority, generate their power through the conviction and clarity of their ideas.

Netflix inculcates a strategic management perspective by

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.

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 resolveconflicts when they arise.

The strategic management process should be addressed only by top-level executives. Mid-level and low-level employees are best equipped to implement the strategies of the organization.

Strategy analysis is the study of only the big picture external environments of the firm.

Successful organizations are effective in motivating people. Employees work best when

Decisions by boards of directors are always consistent with shareholder interests.

Effective organizational design means that firms must have ________ that are consistent with their strategy.