Question 1

An emergent strategy is

Accepted Answer

A) the result of a planned strategy. 
B) an unplanned response to unforeseen circumstances. 
C) the product of careful top-down planning mechanisms. 
D) the same as a realized strategy. 
E) a group response to a problem area. 
A) the result of a planned strategy. 
B) an unplanned response to unforeseen circumstances. 
C) the product of careful top-down planning mechanisms. 
D) the same as a realized strategy. 
E) a group response to a problem area.

Question 2

Leaders who exhibit a high degree of emotional intelligence tend to be more effective than those who do not.

Accepted Answer

A) True 
 B)False

Question 3

Within a diversified company,the responsibilities of corporate-level strategic managers include

Accepted Answer

A) translating the corporate mission statement into concrete strategies for individual business units. 
B) closely supervising the formulation of strategies at the functional level that support the company's business- and corporate-level strategies. 
C) allocating resources to functions within business units. 
D) overseeing the development of strategies for the total organization and allocating resources among its different business areas. 
E) identifying and establishing relationships with supplier firms. 
A) translating the corporate mission statement into concrete strategies for individual business units. 
B) closely supervising the formulation of strategies at the functional level that support the company's business- and corporate-level strategies. 
C) allocating resources to functions within business units. 
D) overseeing the development of strategies for the total organization and allocating resources among its different business areas. 
E) identifying and establishing relationships with supplier firms.

Question 4

The feedback loop in the model of the strategic management process indicates that the process is ongoing; it never ends.

Accepted Answer

A) True 
 B)False

Question 5

The first step in the strategic management process is

Accepted Answer

A) defining the mission and major goals of the organization. 
B) analyzing the macroenvironment. 
C) analyzing the industry environment. 
D) determining the firm's strengths and weaknesses. 
E) deciding on a fit between the organization's strengths and weaknesses and the environment's opportunities and threats. 
A) defining the mission and major goals of the organization. 
B) analyzing the macroenvironment. 
C) analyzing the industry environment. 
D) determining the firm's strengths and weaknesses. 
E) deciding on a fit between the organization's strengths and weaknesses and the environment's opportunities and threats.

Question 6

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

Accepted Answer

A) advantage endures for a long time. 
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 long time. 
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 7

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 8

Matching an organization's structure and control systems to the requirements of a company's strategy is

Accepted Answer

A) part of the strategy making process. 
B) part of the SWOT analysis. 
C) facilitated through the feedback loop. 
D) part of internal analysis. 
E) all of these choices. 
A) part of the strategy making process. 
B) part of the SWOT analysis. 
C) facilitated through the feedback loop. 
D) part of internal analysis. 
E) all of these choices.

Question 9

An important first step in the process of formulating a company's mission is to

Accepted Answer

A) describe the technological processor. 
B) identify the customer segment served by the company. 
C) answer the question,"What is our business?" 
D) decide what the company will be like ten years from now. 
E) evaluate the company's most recent performance. 
A) describe the technological processor. 
B) identify the customer segment served by the company. 
C) answer the question,"What is our business?" 
D) decide what the company will be like ten years from now. 
E) evaluate the company's most recent performance.

Question 10

Systematic errors in the decision-making process are caused by

Accepted Answer

A) inadequate information. 
B) information overload. 
C) cognitive biases on the part of decision makers. 
D) poor data collection procedures. 
E) all of these choices. 
A) inadequate information. 
B) information overload. 
C) cognitive biases on the part of decision makers. 
D) poor data collection procedures. 
E) all of these choices.

Question 11

The traditional planning model suggests that a company's strategies are the result of a plan from a highly structured process orchestrated by top management.

Accepted Answer

A) True 
 B)False

Question 12

When considering emergent strategies,it is important for a firm's managers to

Accepted Answer

A) ensure that the chosen strategies are the result of deliberate plans. 
B) ignore strategies that are not the result of a formal planning process. 
C) evaluate each one carefully,using only those that show the most promise. 
D) substitute emergent strategies for formal plans whenever possible. 
E) develop the emergent strategies themselves. 
A) ensure that the chosen strategies are the result of deliberate plans. 
B) ignore strategies that are not the result of a formal planning process. 
C) evaluate each one carefully,using only those that show the most promise. 
D) substitute emergent strategies for formal plans whenever possible. 
E) develop the emergent strategies themselves.

Question 13

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 14

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

Question 15

General managers are found

Accepted Answer

A) only at the corporate level. 
B) only at the business level. 
C) only at the functional and business levels. 
D) at the functional,business,and corporate levels. 
E) only at the corporate and business levels. 
A) only at the corporate level. 
B) only at the business level. 
C) only at the functional and business levels. 
D) at the functional,business,and corporate levels. 
E) only at the corporate and business levels.

Question 16

The first step in the strategic management process is to

Accepted Answer

A) analyze the competitive environment. 
B) examine the organizational structure to see what changes may be required. 
C) analyze internal strengths. 
D) analyze internal weaknesses. 
E) select the corporate mission and major corporate goals. 
A) analyze the competitive environment. 
B) examine the organizational structure to see what changes may be required. 
C) analyze internal strengths. 
D) analyze internal weaknesses. 
E) select the corporate mission and major corporate goals.

Question 17

The principal driver(s)of shareholder value is (are)

Accepted Answer

A) profitability. 
B) profit growth. 
C) market share. 
D) profitability and profit growth. 
E) all of these choices. 
A) profitability. 
B) profit growth. 
C) market share. 
D) profitability and profit growth. 
E) all of these choices.

Question 18

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

Accepted Answer

A) Chairman of the Board of Directors 
B) Division head 
C) CFO 
D) CEO 
E) Controller 
A) Chairman of the Board of Directors 
B) Division head 
C) CFO 
D) CEO 
E) Controller

Question 19

Strategic leadership is about

Accepted Answer

A) strategy formulation. 
B) strategy implementation. 
C) how to effectively manage a company's strategy and create competitive advantage. 
D) establishing effective contract processes. 
E) reducing a company's operating costs. 
A) strategy formulation. 
B) strategy implementation. 
C) how to effectively manage a company's strategy and create competitive advantage. 
D) establishing effective contract processes. 
E) reducing a company's operating costs.

Question 20

Rules of thumb rarely if ever lead to severe errors in the decision making process.

Accepted Answer

A) True 
 B)False

An emergent strategy is

Leaders who exhibit a high degree of emotional intelligence tend to be more effective than those who do not.

Within a diversified company,the responsibilities of corporate-level strategic managers include

The feedback loop in the model of the strategic management process indicates that the process is ongoing; it never ends.

The first step in the strategic management process is

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

Maximizing shareholder value is

Matching an organization's structure and control systems to the requirements of a company's strategy is

An important first step in the process of formulating a company's mission is to

Systematic errors in the decision-making process are caused by

The traditional planning model suggests that a company's strategies are the result of a plan from a highly structured process orchestrated by top management.

When considering emergent strategies,it is important for a firm's managers to

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

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

General managers are found

The first step in the strategic management process is to

The principal driver(s)of shareholder value is (are)

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

Strategic leadership is about

Rules of thumb rarely if ever lead to severe errors in the decision making process.

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

An emergent strategy is

Leaders who exhibit a high degree of emotional intelligence tend to be more effective than those who do not.

Within a diversified company,the responsibilities of corporate-level strategic managers include

The feedback loop in the model of the strategic management process indicates that the process is ongoing; it never ends.

The first step in the strategic management process is

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

Maximizing shareholder value is

Matching an organization's structure and control systems to the requirements of a company's strategy is

An important first step in the process of formulating a company's mission is to

Systematic errors in the decision-making process are caused by

The traditional planning model suggests that a company's strategies are the result of a plan from a highly structured process orchestrated by top management.

When considering emergent strategies,it is important for a firm's managers to

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

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

General managers are found

The first step in the strategic management process is to

The principal driver(s)of shareholder value is (are)

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

Strategic leadership is about

Rules of thumb rarely if ever lead to severe errors in the decision making process.

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