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

Mintzberg's model suggests a company's realized strategy is the product of whatever strategies are actually put into action¾intended and emergent.

The vision of a company lays out some desired future state and articulates what the company would like to achieve.

The fit model of strategy formulation and implementation

Devil's advocacy

The primary goal of a SWOT analysis is to

Competition from industry to industry

In the typical scenario planning exercise,

Profit growth is best measured

The role of corporate-level managers is to

Functional managers

Feelings of personal responsibility for a project are most likely to lead to

Using informal and unconventional ways to gather information is an unwise practice for an organization.

General managers bear responsibility for the overall performance of the company or for one of its major self-contained subunits or divisions.

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.

SWOT analysis concerns identifying strengths,weaknesses,options,and threats.

SWOT analysis is implemented to fine-tune strategies.

Aaron planned to cut prices at his bicycle shop,but when a competing shop began to offer free repairs,Aaron decided to copy them.Aaron's new strategy (offer free repairs)is an example of a(n)

Values are personal and have little to do with organizational culture or competitive advantage.

Jeffrey Pfeffer believes that a manager's political power comes from his or her control over

Sam Walton wanted Walmart to keep costs low.Therefore,as an example to others,he drove his own car and furnished his office with plain,steel desks.In this case,Mr.Walton was displaying his