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Exam 1: Strategic Management: Creating Competitive Advantages

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Question 21

True/False

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Many of the benefits from sustainability projects are intangible, making it difficult to calculate the ROI.

A) True
B) False

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Question 22

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Procter and Gamble has perfected a technique for compacting cleaning powder into a liquid concentration. Consumers, retailers, shipping and wholesalers, and environmentalists all have benefited from the resulting change in consumer shopping habits and the revolution in industry supply-chain economics. According to the text, this is an example of

A) zero-sum relationship among stakeholders.
B) stakeholder symbiosis.
C) rewarding stakeholders.
D) emphasizing financial returns.

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

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Question 23

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Wall Street executives have received excessive bonus pay in the past. This concerns which of the following stakeholder groups most directly?

According to the text, the triple bottom line approach to corporate accounting includes which three components?

Firms must be aware of goals other than short-term profit maximization. One area of concern should be social responsibility, which is the

Business-level strategy focuses on (1) what businesses to compete in and (2) the management of the business portfolio to create synergy among its businesses.

In strategic management, both the short-term and long-term perspectives need to be considered because

The three participants in corporate governance are the shareholders,

Demands for greater corporate responsibility are decreasing today.

While working to prioritize and fulfill their responsibilities, members of the board of directors of an organization should

Ensuring effective corporate governance requires an effective and engaged board of directors, uninvolved shareholders, and proper managerial rewards and incentives.

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.

Strategic management should only include short-term objectives. Long-term objectives are covered in the vision statement of the organization.

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

Strategic management consists of the analyses, decisions, and actions an organization undertakes in order to create and sustain competitive advantages.

International strategy involves decisions concerning appropriate entry strategy and attaining competitive advantage in international markets.

The case for sustainability projects needs to be made on the basis of a more holistic and comprehensive understanding of all the _____________ benefits.

Shareholders expect only short-term value and therefore good managers should only focus on meeting short-term performance targets.

Stakeholders make various claims on a company. Their interests must be taken into account in the strategic management process.

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