Exam 1: Strategic Management and Strategic Competitiveness

In the resource-based model, which of the following factors would be considered a key to organizational success?

All of the following are resources of an organization EXCEPT:

Corporate-level strategy in a diversified organization requires a common business strategy for each component business.

What are a firm's vision and mission? What is the value to the firm of having a specified vision and mission?

Henry Ford once said, "If I had asked people what they wanted, they would have said faster horses."  The invention of the car is an early example of:

In the strategic management process ASP stands for

Risk in terms of financial returns reflects an investor's uncertainty about economic gains or losses that will result from a particular investment.

The interests of an organization's stakeholders often conflict, and the organization must prioritize its stakeholders if it cannot satisfy them all. The ______ is the most critical criterion in prioritizing stakeholders.

The rate of technology diffusion has been steadily increasing over the last two decades.

The Chambers of Commerce of cities and towns often implore citizens to buy from local businesses.  This is because the organization's role as a taxpayer is most important to ______ as stakeholders.

William Ackman is a hedge fund manager who owned a large share of J.C. Penney stock.  He was also a member of the J.C. Penney board. He tried to get the CEO fired, but the board and top management said he breached his boardroom duties when he publicly disclosed information about the CEO search and financial condition of the company.  He resigned from the board of directors.  This is an example of a contentious relationship between: 

The global economy, globalization, rapid technological change, and the increasing importance of knowledge are creating the need to:

______ has become the second-largest economy in the world.

A firm has achieved ______ when it successfully formulates and implements a value-creating strategy.

A ______ is an integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage.

The I/O (industrial organization) model assumes that the uniqueness of a firm's resources and capabilities is the main source of above-average returns.

Generally speaking, product market stakeholders are satisfied when:

Although organizational cultures vary considerably, one cannot make an objective judgment that some organizational cultures are more or less functional than others in terms of ethical considerations.

The uniqueness of a firm's resources and capabilities is the basis for a firm's strategy and determines its ability to earn above-average returns under the I/O view.

Define globalization and describe some of its consequences.