Question 1

Greenleaf Property Management has been earning below-average returns for the last three years. Which one of the following statements is true?

Accepted Answer

A)  Greenleaf will be able to satisfy its multiple stakeholders easily as long as the stakeholders are committed to the strategic mission of the firm. 
B)  Greenleaf will be able to minimally satisfy the demands of each stakeholder. 
C)  Greenleaf will need to prioritize the demands of its stakeholders based on the political influence each wields. 
D)  Greenleaf will not be able to minimally satisfy all stakeholders. 
A)  Greenleaf will be able to satisfy its multiple stakeholders easily as long as the stakeholders are committed to the strategic mission of the firm. 
B)  Greenleaf will be able to minimally satisfy the demands of each stakeholder. 
C)  Greenleaf will need to prioritize the demands of its stakeholders based on the political influence each wields. 
D)  Greenleaf will not be able to minimally satisfy all stakeholders.

Question 2

Strategic competitiveness is achieved when a firm successfully formulates and implements a value-creating strategy.

Accepted Answer

A) True 
 B)False

Question 3

An effective vision statement must specify the industry in which a company will operate.

Accepted Answer

A) True 
 B)False

Question 4

An organization's willingness to tolerate or encourage unethical behavior is a reflection of its core values.

Accepted Answer

A) True 
 B)False

Question 5

The CEO of Ridgeway, Inc., realizes that the company's survival depends on developing and acquiring knowledge. Which of the following actions by the CEO would be most consistent with this need?

Accepted Answer

A)  Ensuring that all current unique knowledge of the firm is protected by patents 
B)  Planning extensive employee training and hiring educated and experienced employees 
C)  Investing in sophisticated databases in relevant knowledge areas 
D)  Establishing a system of organizational intelligence gathering 
A)  Ensuring that all current unique knowledge of the firm is protected by patents 
B)  Planning extensive employee training and hiring educated and experienced employees 
C)  Investing in sophisticated databases in relevant knowledge areas 
D)  Establishing a system of organizational intelligence gathering

Question 6

The I/O model is grounded in:

Accepted Answer

A)  anthropology. 
B)  psychology. 
C)  economics. 
D)  accounting. 
A)  anthropology. 
B)  psychology. 
C)  economics. 
D)  accounting.

Question 7

______ is a capacity for a set of resources to perform a task or an activity in an integrative manner.

Accepted Answer

A)  A capability 
B)  A core competence 
C)  Sustainable competitive advantage 
D)  Organizational intelligence 
A)  A capability 
B)  A core competence 
C)  Sustainable competitive advantage 
D)  Organizational intelligence

Question 8

In a diversified firm, corporate-level strategy is concerned with:

Accepted Answer

A)  operating each individual business under the corporate umbrella. 
B)  determining how each functional department of the firm will operate. 
C)  determining in which businesses to compete and how resources will be allocated between businesses. 
D)  coordinating the vision and mission of each subsidiary firm. 
A)  operating each individual business under the corporate umbrella. 
B)  determining how each functional department of the firm will operate. 
C)  determining in which businesses to compete and how resources will be allocated between businesses. 
D)  coordinating the vision and mission of each subsidiary firm.

Question 9

Describe the industrial organization (I/O) model of above-average returns. What are its main assumptions? What is the key to success according to the I/O model?

Accepted Answer

The I/O model of above-average returns a

Question 10

Strategic leaders must have a strong strategic orientation while embracing change in the dynamic competitive landscape.

Accepted Answer

A) True 
 B)False

Question 11

Define strategic competitiveness and above-average returns. What is the relationship between strategic competitiveness and returns on investment?

Accepted Answer

Strategic competitiveness is achieved wh

Question 12

:A business-level strategy describes

Accepted Answer

A)  the businesses in which the company intends to compete. 
B)  all policies and procedures used in functional departments. 
C)  the business unit's actions to exploit its competitive advantage over rivals. 
D)  a firm's resources, intent, and mission. 
A)  the businesses in which the company intends to compete. 
B)  all policies and procedures used in functional departments. 
C)  the business unit's actions to exploit its competitive advantage over rivals. 
D)  a firm's resources, intent, and mission.

Question 13

The assumptions of the industrial organization model and the resource-based model are contradictory. Therefore, organizational strategists must choose one or the other model as the basis for developing a strategic plan.

Accepted Answer

A) True 
 B)False

Question 14

Firms use the five forces model of competition to identify the ______ of the industry.  It is measured by its _______.

Accepted Answer

A)  size; number of competitors. 
B)  globalization; export percentages. 
C)  hypercompetition; technology diffusion. 
D)  attractiveness; profitability. 
A)  size; number of competitors. 
B)  globalization; export percentages. 
C)  hypercompetition; technology diffusion. 
D)  attractiveness; profitability.

Question 15

What are the primary aspects of the strategic management process? You may reference specific chapters from the text in formulating your response.

Accepted Answer

This is a roadmap question for the entir

Question 16

A company competing in a single product market has

Accepted Answer

A)  one corporate-level strategy. 
B)  one business-level strategy. 
C)  one business-level strategy for failure.  It should seek to diversify. 
D)  one business-level strategy and one corporate-level strategy. 
A)  one corporate-level strategy. 
B)  one business-level strategy. 
C)  one business-level strategy for failure.  It should seek to diversify. 
D)  one business-level strategy and one corporate-level strategy.

Question 17

Strategic leaders, ______, often work long hours, and their work is filled with ambiguous decision situations.

Accepted Answer

A)  at the top of the organization 
B)  regardless of their location in the organization 
C)  in the finance area 
D)  in the operations area 
A)  at the top of the organization 
B)  regardless of their location in the organization 
C)  in the finance area 
D)  in the operations area

Question 18

The rate of technological diffusion is increasing. Which of the following was fastest in penetrating 25 percent of homes in the U.S. market?

Accepted Answer

A)  Mobile Phone 
B)  Television 
C)  Personal Computer 
D)  Internet 
A)  Mobile Phone 
B)  Television 
C)  Personal Computer 
D)  Internet

Question 19

Above-average returns are;

Accepted Answer

A)  higher profits than the firm earned the previous year. 
B)  higher profits than the industry averaged over the last 10 years. 
C)  profits in excess of what an investor expects to earn from a historical pattern of performance of the firm. 
D)  returns in excess of what an investor expects to earn from other investments with a similar level of risk. 
A)  higher profits than the firm earned the previous year. 
B)  higher profits than the industry averaged over the last 10 years. 
C)  profits in excess of what an investor expects to earn from a historical pattern of performance of the firm. 
D)  returns in excess of what an investor expects to earn from other investments with a similar level of risk.

Question 20

A firm's mission:

Accepted Answer

A)  is a statement of a firm's business in which it intends to compete and the customers it intends to serve. 
B)  is an internally focused affirmation of the organization's financial, social, and ethical goals. 
C)  is mainly intended to emotionally inspire employees and other stakeholders. 
D)  is developed by a firm before the firm develops its vision. 
A)  is a statement of a firm's business in which it intends to compete and the customers it intends to serve. 
B)  is an internally focused affirmation of the organization's financial, social, and ethical goals. 
C)  is mainly intended to emotionally inspire employees and other stakeholders. 
D)  is developed by a firm before the firm develops its vision.

Greenleaf Property Management has been earning below-average returns for the last three years. Which one of the following statements is true?

Strategic competitiveness is achieved when a firm successfully formulates and implements a value-creating strategy.

An effective vision statement must specify the industry in which a company will operate.

An organization's willingness to tolerate or encourage unethical behavior is a reflection of its core values.

The CEO of Ridgeway, Inc., realizes that the company's survival depends on developing and acquiring knowledge. Which of the following actions by the CEO would be most consistent with this need?

The I/O model is grounded in:

______ is a capacity for a set of resources to perform a task or an activity in an integrative manner.

In a diversified firm, corporate-level strategy is concerned with:

Describe the industrial organization (I/O) model of above-average returns. What are its main assumptions? What is the key to success according to the I/O model?

Strategic leaders must have a strong strategic orientation while embracing change in the dynamic competitive landscape.

Define strategic competitiveness and above-average returns. What is the relationship between strategic competitiveness and returns on investment?

:A business-level strategy describes

The assumptions of the industrial organization model and the resource-based model are contradictory. Therefore, organizational strategists must choose one or the other model as the basis for developing a strategic plan.

Firms use the five forces model of competition to identify the of the industry. It is measured by its _.

What are the primary aspects of the strategic management process? You may reference specific chapters from the text in formulating your response.

A company competing in a single product market has

Strategic leaders, ______, often work long hours, and their work is filled with ambiguous decision situations.

The rate of technological diffusion is increasing. Which of the following was fastest in penetrating 25 percent of homes in the U.S. market?

Above-average returns are;

A firm's mission:

The External Environment: Opportunities, Threats, Industry Competition, and Competitor Analysis

The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages

Business-Level Strategy

Competitive Rivalry and Competitive Dynamics

Corporate-Level Strategy

Merger and Acquisition Strategies

International Strategy

Cooperative Strategy

Corporate Governance

Organizational Structure and Controls

Strategic Leadership

Strategic Entrepreneurship

Filters

Exam 1: Strategic Management and Strategic Competitiveness

Greenleaf Property Management has been earning below-average returns for the last three years. Which one of the following statements is true?

Strategic competitiveness is achieved when a firm successfully formulates and implements a value-creating strategy.

An effective vision statement must specify the industry in which a company will operate.

An organization's willingness to tolerate or encourage unethical behavior is a reflection of its core values.

The CEO of Ridgeway, Inc., realizes that the company's survival depends on developing and acquiring knowledge. Which of the following actions by the CEO would be most consistent with this need?

The I/O model is grounded in:

______ is a capacity for a set of resources to perform a task or an activity in an integrative manner.

In a diversified firm, corporate-level strategy is concerned with:

Describe the industrial organization (I/O) model of above-average returns. What are its main assumptions? What is the key to success according to the I/O model?

Strategic leaders must have a strong strategic orientation while embracing change in the dynamic competitive landscape.

Define strategic competitiveness and above-average returns. What is the relationship between strategic competitiveness and returns on investment?

:A business-level strategy describes

The assumptions of the industrial organization model and the resource-based model are contradictory. Therefore, organizational strategists must choose one or the other model as the basis for developing a strategic plan.

Firms use the five forces model of competition to identify the ______ of the industry. It is measured by its _______.

What are the primary aspects of the strategic management process? You may reference specific chapters from the text in formulating your response.

A company competing in a single product market has

Strategic leaders, ______, often work long hours, and their work is filled with ambiguous decision situations.

The rate of technological diffusion is increasing. Which of the following was fastest in penetrating 25 percent of homes in the U.S. market?

Above-average returns are;

A firm's mission:

The External Environment: Opportunities, Threats, Industry Competition, and Competitor Analysis

The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages

Business-Level Strategy

Competitive Rivalry and Competitive Dynamics

Corporate-Level Strategy

Merger and Acquisition Strategies

International Strategy

Cooperative Strategy

Corporate Governance

Organizational Structure and Controls

Strategic Leadership

Strategic Entrepreneurship

Filters

Firms use the five forces model of competition to identify the of the industry. It is measured by its _.