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.E) All of the above
F) None of the above

Question 2

Sustainability is being increasingly recognized as a source of cost efficiencies and revenue growth.

Accepted Answer

A) True 
 B)False

Question 3

An idealistic vision can arouse employee enthusiasm and therefore is a good vision.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

Richard Branson of the Virgin Group believes that the ________ of a person should not dictate the level of influence their ideas should be accorded.

Accepted Answer

A)  age
B)  seniority
C)  position
D)  educationE) C) and D)
F) All of the above

Question 6

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

Accepted Answer

A)  innovative
B)  learning
C)  implementation
D)  business-levelE) B) and D)
F) B) and C)

Question 7

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 significant performance declines.According to the text,this example illustrates the ________ perspective of leadership.

Accepted Answer

A)  external control
B)  romantic
C)  internal mechanism
D)  operationalE) C) and D)
F) All of the above

Question 8

WellPoint Health Network states: WellPoint will redefine our industry through a new generation of consumer-friendly products that put individuals back in control of their future.This is an example of a

Accepted Answer

A)  strategic objective.
B)  vision statement.
C)  vague statement of direction.
D)  line manager's individual goal.E) C) and D)
F) A) and B)

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.E) B) and D)
F) B) and C)

Question 10

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.E) All of the above
F) A) and B)

Question 11

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.E) All of the above
F) None of the above

Question 12

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.E) A) and C)
F) A) and B)

Question 13

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 leadersE) A) and D)
F) A) and B)

Question 14

Strategy implementation can be the most difficult part of the strategic management process.Which of the following is not likely to be a cause of implementation failure?

Accepted Answer

A)  leadership
B)  competition
C)  coordination and integration of activities within and outside of the firm
D)  organizational commitment to excellenceE) All of the above
F) A) and C)

Question 15

The final realized strategy of a firm is a combination of deliberate and time-tested strategies only.

Accepted Answer

A) True 
 B)False

Question 16

________ 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 designE) All of the above
F) B) and C)

Question 17

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.E) All of the above
F) A) and B)

Question 18

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.E) All of the above
F) C) and D)

Question 19

According to Henry Mintzberg,a management scholar,most firms do not realize their original intended strategy.

Accepted Answer

A) True 
 B)False

Question 20

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 changeE) B) and C)
F) A) and D)

Exam 1: Strategic Management: Creating Competitive Advantages

The final realized strategy of a firm is a combination of deliberate and time-tested strategies only.

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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 significant performance declines.According to the text,this example illustrates the ________ perspective of leadership.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

WellPoint Health Network states: WellPoint will redefine our industry through a new generation of consumer-friendly products that put individuals back in control of their future.This is an example of a

Correct AnswerverifiedShow Answer

Strategy implementation can be the most difficult part of the strategic management process.Which of the following is not likely to be a cause of implementation failure?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

According to Henry Mintzberg,a management scholar,most firms do not realize their original intended strategy.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Sustainability is being increasingly recognized as a source of cost efficiencies and revenue growth.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Netflix inculcates a strategic management perspective by

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Richard Branson of the Virgin Group believes that the ________ of a person should not dictate the level of influence their ideas should be accorded.

Correct AnswerverifiedShow Answer

An idealistic vision can arouse employee enthusiasm and therefore is a good vision.

Correct AnswerverifiedShow Answer

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