Exam 11: Change Management and Strategic Leadership

As leaders make strategic decisions, they must balance the interests of various stakeholders-employees, customers, shareholders, suppliers, unions/activists, and the community. Describe the best approach for doing this.

The loss of market focus is a leading cause of business failures.

Effective change leaders:

Survival anxiety is a sufficient but not necessary stimulus to change.

Resistance to change as a(n) ____ state focuses on the frustration of those affected by the change because of the fear of loss and a fear of the unknown.

Strategic ____ is the set of decisions and actions used to formulate and implement specific strategies that will achieve a competitively superior fit between the organization and its environment, so as to achieve organizational goals.

What is the difference between a strategic vision and a mission statement?

Based on the business you selected to start in Skill-Development Exercise 1, as part of the strategy formulation, identify your business's core competencies. Be sure to answer the questions, "What will your business do better or different than your competitors? Why should someone do business with you rather than your competitors?"

Competitive advantage is improved when a firm's:

To reduce or eliminate resistance to change, effective leaders communicate the need and urgency for change to just top management.

Discuss how an organization's objectives may affect its search for opportunities.

Learning anxiety is the feeling that unless an organization makes a change, it is going to be out of business or fail to achieve some important goals.

Core competencies are a source of competitive advantage when they are:

All of the following are strategies that leaders can use to effectively manage change EXCEPT:

Think of your college or university. Prepare a SWOT analysis that identifies one opportunity and one threat facing your institution in the next five years. Also identify a strength and weakness that you think your institution has.

Strategy evaluation has been described as the most important and most difficult part of the strategic management process.