Question 1

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

Question 2

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)   objectivesE) A) and C)
F) A) and B)

Question 3

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 D)
F) None of the above

Question 4

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 5

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

Question 6

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.E) None of the above
F) C) and D)

Question 7

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

Accepted Answer

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

Question 8

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 plansE) A) and B)
F) A) and C)

Question 9

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 B)
F) B) and C)

Question 10

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 11

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

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

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 leadersE) A) and C)
F) A) and D)

Question 15

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

Question 16

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 onlyE) A) and C)
F) A) and B)

Question 17

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.E) A) and D)
F) A) and C)

Question 18

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) A) and D)
F) C) and D)

Question 19

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

Question 20

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

Exam 1: Strategic Management Creating Competitive Advantages

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.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Netflix inculcates a strategic management perspective by

Correct AnswerverifiedShow Answer

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

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

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

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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

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

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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