Question 1

Maximizing shareholder value is

Accepted Answer

A)  a byproduct of a company's cost reduction programs. 
B)  not generally a viable goal for a company. 
C)  not the responsibility of a company's managers. 
D)  the ultimate goal of profit-making companies. 
E)  not required to attract risk capital. 
A)  a byproduct of a company's cost reduction programs. 
B)  not generally a viable goal for a company. 
C)  not the responsibility of a company's managers. 
D)  the ultimate goal of profit-making companies. 
E)  not required to attract risk capital.

Question 2

Which of the following is the organization's principal general manager?

Accepted Answer

A)  The Board of Director 
B)  Marketing division head 
C)  CFO 
D)  CEO 
E)  Controller 
A)  The Board of Director 
B)  Marketing division head 
C)  CFO 
D)  CEO 
E)  Controller

Question 3

Honda redefined the U.S.motorcycle industry with a brilliantly conceived intented strategy.

Accepted Answer

A) True 
 B)False

Question 4

Well-constructed goals provide a means by which the performance of managers can be evaluated.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following dimension(s)is (are)encompassed by a company's business model?

Accepted Answer

A)  Selecting customers 
B)  Defining and differentiating its product offerings 
C)  Determining how it will produce goods and services 
D)  Determining how it will grow the business over time 
E)  All of these. 
A)  Selecting customers 
B)  Defining and differentiating its product offerings 
C)  Determining how it will produce goods and services 
D)  Determining how it will grow the business over time 
E)  All of these.

Question 6

The final component of the strategic management process is crafting the organization's mission statement,which provides the framework or context within which strategies are formulated.

Accepted Answer

A) True 
 B)False

Question 7

Good strategic leaders

Accepted Answer

A)  possess a willingness to delegate and empower subordinates. 
B)  control all facets of decision making. 
C)  are confident in their ability to make sound decisions without consulting others. 
D)  assure uniformity of purpose through the exercise of power. 
E)  have the ability to be inconsistent when the situation requires inconsistency. 
A)  possess a willingness to delegate and empower subordinates. 
B)  control all facets of decision making. 
C)  are confident in their ability to make sound decisions without consulting others. 
D)  assure uniformity of purpose through the exercise of power. 
E)  have the ability to be inconsistent when the situation requires inconsistency.

Question 8

A strategy can be defined as a set of related actions that managers take to increase their company's performance.

Accepted Answer

A) True 
 B)False

Question 9

Identify and discuss the criticisms of the traditional strategic planning process and why it is useful to view strategy as an emergent process.

Accepted Answer

The traditional planning process is view

Question 10

Profit growth is best measured

Accepted Answer

A)  by the increase in share price. 
B)  by the return on investment. 
C)  by the increase in net sales. 
D)  over time. 
E)  by increases in liquidity. 
A)  by the increase in share price. 
B)  by the return on investment. 
C)  by the increase in net sales. 
D)  over time. 
E)  by increases in liquidity.

Question 11

A competitive advantage is considered to be a sustained competitive advantage when the

Accepted Answer

A)  advantage endures for a number of years. 
B)  firm is able to spread the advantage to all of its business units. 
C)  advantage is very large. 
D)  advantage was gained at a low cost. 
E)  managers who developed the advantage are still employed at the firm. 
A)  advantage endures for a number of years. 
B)  firm is able to spread the advantage to all of its business units. 
C)  advantage is very large. 
D)  advantage was gained at a low cost. 
E)  managers who developed the advantage are still employed at the firm.

Question 12

Which of the following cognitive biases refers to the fact that decision makers who have strong prior beliefs about the relationship between two variables tend to make decisions on the basis of these beliefs,even when presented with evidence that their beliefs are wrong?

Accepted Answer

A)  Prior hypothesis bias 
B)  Reasoning by analogy 
C)  Illusion of control 
D)  Escalating commitment 
E)  Representativeness 
A)  Prior hypothesis bias 
B)  Reasoning by analogy 
C)  Illusion of control 
D)  Escalating commitment 
E)  Representativeness

Question 13

Which of the following is not a characteristic of well-constructed goals?

Accepted Answer

A)  They are precise and measurable. 
B)  They are the result of a group decision process. 
C)  They specify a time period. 
D)  They are challenging but realistic. 
E)  They address critical issues. 
A)  They are precise and measurable. 
B)  They are the result of a group decision process. 
C)  They specify a time period. 
D)  They are challenging but realistic. 
E)  They address critical issues.

Question 14

A company's mission

Accepted Answer

A)  lays out the desired future state of the company. 
B)  outlines the manner in which employees and managers should conduct themselves. 
C)  defines the manner in which strategies will be developed and attained. 
D)  describes what the company does. 
E)  answers the question, "What will our business become?" 
A)  lays out the desired future state of the company. 
B)  outlines the manner in which employees and managers should conduct themselves. 
C)  defines the manner in which strategies will be developed and attained. 
D)  describes what the company does. 
E)  answers the question, "What will our business become?"

Question 15

Explain the formal strategic planning process.Name each step in the process and describe the specific activities included in each step and the relationship between the steps.

Accepted Answer

The strategy formulation portion of the

Question 16

Which of the following cognitive biases occurs when decision makers commit even more resources if they receive feedback that the project is failing?

Accepted Answer

A)  Prior hypothesis bias 
B)  Reasoning by analogy 
C)  Illusion of control 
D)  Escalating commitment 
E)  Representativeness 
A)  Prior hypothesis bias 
B)  Reasoning by analogy 
C)  Illusion of control 
D)  Escalating commitment 
E)  Representativeness

Question 17

One of the factors that distinguishes organizations in the nonprofit sector from for-profit businesses is the lack of concern for strategic management.

Accepted Answer

A) True 
 B)False

Question 18

A business model is managers' conception of how the set of strategies their company pursues should mesh together into a congruent whole,thus enabling the company to gain a competitive advantage and achieve superior profitability and profit growth.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is not a cognitive bias?

Accepted Answer

A)  Escalating commitment 
B)  Reasoning by analogy 
C)  Ivory tower thinking 
D)  Representativeness 
E)  Illusion of control 
A)  Escalating commitment 
B)  Reasoning by analogy 
C)  Ivory tower thinking 
D)  Representativeness 
E)  Illusion of control

Question 20

Strategic leadership is concerned with how to most effectively manage a company's strategy-making process to create competitive advantage.

Accepted Answer

A) True 
 B)False

Maximizing shareholder value is

Which of the following is the organization's principal general manager?

Honda redefined the U.S.motorcycle industry with a brilliantly conceived intented strategy.

Well-constructed goals provide a means by which the performance of managers can be evaluated.

Which of the following dimension(s)is (are)encompassed by a company's business model?

The final component of the strategic management process is crafting the organization's mission statement,which provides the framework or context within which strategies are formulated.

Good strategic leaders

A strategy can be defined as a set of related actions that managers take to increase their company's performance.

Identify and discuss the criticisms of the traditional strategic planning process and why it is useful to view strategy as an emergent process.

Profit growth is best measured

A competitive advantage is considered to be a sustained competitive advantage when the

Which of the following cognitive biases refers to the fact that decision makers who have strong prior beliefs about the relationship between two variables tend to make decisions on the basis of these beliefs,even when presented with evidence that their beliefs are wrong?

Which of the following is not a characteristic of well-constructed goals?

A company's mission

Explain the formal strategic planning process.Name each step in the process and describe the specific activities included in each step and the relationship between the steps.

Which of the following cognitive biases occurs when decision makers commit even more resources if they receive feedback that the project is failing?

One of the factors that distinguishes organizations in the nonprofit sector from for-profit businesses is the lack of concern for strategic management.

A business model is managers' conception of how the set of strategies their company pursues should mesh together into a congruent whole,thus enabling the company to gain a competitive advantage and achieve superior profitability and profit growth.

Which of the following is not a cognitive bias?

Strategic leadership is concerned with how to most effectively manage a company's strategy-making process to create competitive advantage.

External Analysis: The Identification of Opportunities and Threats

Internal Analysis: Distinctive Competencies, Competitive Advantage, and Profitability

Building Competitive Advantage Through Functional-Level Strategy

Building Competitive Advantage Through Business-Level Strategy

Business-Level Strategy and the Industry Environment

Strategy and Technology

Strategy in the Global Environment

Corporate-Level Strategy: Horizontal Integration, Vertical Integration, and Strategic Outsourcing

Corporate-Level Strategy: Related and Unrelated Diversification

Corporate Performance, Governance, and Business Ethics

Implementing Strategy in Companies That Compete in a Single Industry

Implementing Strategy in Companies That Compete Across Industries and Countries

Filters

Exam 1: Strategic Leadership: Managing the Strategy-Making Process for Competitive Advantage

Maximizing shareholder value is

Which of the following is the organization's principal general manager?

Honda redefined the U.S.motorcycle industry with a brilliantly conceived intented strategy.

Well-constructed goals provide a means by which the performance of managers can be evaluated.

Which of the following dimension(s)is (are)encompassed by a company's business model?

The final component of the strategic management process is crafting the organization's mission statement,which provides the framework or context within which strategies are formulated.

Good strategic leaders

A strategy can be defined as a set of related actions that managers take to increase their company's performance.

Identify and discuss the criticisms of the traditional strategic planning process and why it is useful to view strategy as an emergent process.

Profit growth is best measured

A competitive advantage is considered to be a sustained competitive advantage when the

Which of the following cognitive biases refers to the fact that decision makers who have strong prior beliefs about the relationship between two variables tend to make decisions on the basis of these beliefs,even when presented with evidence that their beliefs are wrong?

Which of the following is not a characteristic of well-constructed goals?

A company's mission

Explain the formal strategic planning process.Name each step in the process and describe the specific activities included in each step and the relationship between the steps.

Which of the following cognitive biases occurs when decision makers commit even more resources if they receive feedback that the project is failing?

One of the factors that distinguishes organizations in the nonprofit sector from for-profit businesses is the lack of concern for strategic management.

A business model is managers' conception of how the set of strategies their company pursues should mesh together into a congruent whole,thus enabling the company to gain a competitive advantage and achieve superior profitability and profit growth.

Which of the following is not a cognitive bias?

Strategic leadership is concerned with how to most effectively manage a company's strategy-making process to create competitive advantage.

External Analysis: The Identification of Opportunities and Threats

Internal Analysis: Distinctive Competencies, Competitive Advantage, and Profitability

Building Competitive Advantage Through Functional-Level Strategy

Building Competitive Advantage Through Business-Level Strategy

Business-Level Strategy and the Industry Environment

Strategy and Technology

Strategy in the Global Environment

Corporate-Level Strategy: Horizontal Integration, Vertical Integration, and Strategic Outsourcing

Corporate-Level Strategy: Related and Unrelated Diversification

Corporate Performance, Governance, and Business Ethics

Implementing Strategy in Companies That Compete in a Single Industry

Implementing Strategy in Companies That Compete Across Industries and Countries

Filters