Question 1

The first component of the strategic management process is:

Accepted Answer

A) crafting the organization's mission statement. 
B) corning up with a damage control plan. 
C) analyzing the macroenvironment. 
D) determining the firm's employee turnover rate. 
E) deciding on a fit between the organization's strengths and weaknesses and the environment's opportunities and threats. 
A) crafting the organization's mission statement. 
B) corning up with a damage control plan. 
C) analyzing the macroenvironment. 
D) determining the firm's employee turnover rate. 
E) deciding on a fit between the organization's strengths and weaknesses and the environment's opportunities and threats.

Question 2

Which of the following statements is true about the feedback loop in the context of strategy implementation?

Accepted Answer

A) It provides managers the input for the next round of strategy formulation and implementation. 
B) It emerges within an organization without prior planning, and in response to unforeseen circumstances. 
C) It cannot reveal whether or not a business model is working. 
D) It carries information from the corporate level to the functional level management.. 
E) It indicates that the strategy implementation process has ended. 
A) It provides managers the input for the next round of strategy formulation and implementation. 
B) It emerges within an organization without prior planning, and in response to unforeseen circumstances. 
C) It cannot reveal whether or not a business model is working. 
D) It carries information from the corporate level to the functional level management.. 
E) It indicates that the strategy implementation process has ended.

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

Karen, a manager at Libra Inc, had noticed that her subordinates were experiencing a lot of stress.After conducting a meeting with her subordinates, Karen realized that they were extremely overworked and daunted by close deadlines.Determined to reduce their stress, she introduced a new process that eliminated time-consuming activities and gave them more flexibility with regard to work timings.The action taken by Karen demonstrates which of the following aspects of emotional intelligence?

Accepted Answer

A) Availability error 
B) Self-awareness 
C) Self-regulation 
D) Motivation 
E) Empathy 
A) Availability error 
B) Self-awareness 
C) Self-regulation 
D) Motivation 
E) Empathy

Question 5

Emergent strategies are the unplanned responses to unforeseen circumstances.

Accepted Answer

A) True 
 B)False

Question 6

Holly owns a landscape company and is thinking about expanding her services to include outdoor water features (waterfalls, streams, ponds).If, before making this decision, she looks at the experience of similar fmns that have added outdoor water features, she is employing:

Accepted Answer

A) cognitive bias. 
B) illusion of control. 
C) devil's advocacy. 
D) outside view. 
E) dialectic inquiry. 
A) cognitive bias. 
B) illusion of control. 
C) devil's advocacy. 
D) outside view. 
E) dialectic inquiry.

Question 7

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

Accepted Answer

A) What is our budget for advertising? 
B) What are the government regulations that are most likely to impact our business? 
C) What is our business? 
D) How do we persuade shareholders to provide risk capital? 
E) How many employees should we hire? 
A) What is our budget for advertising? 
B) What are the government regulations that are most likely to impact our business? 
C) What is our business? 
D) How do we persuade shareholders to provide risk capital? 
E) How many employees should we hire?

Question 8

refers to the investment that shareholders make in a company that cannot be recovered if the company fails and goes bankrupt.

Accepted Answer

A) Profitability 
B) Shareholder value 
C) Debt 
D) Risk capital 
E) Dividend payments 
A) Profitability 
B) Shareholder value 
C) Debt 
D) Risk capital 
E) Dividend payments

Question 9

More people seem to fear a snake bite than a dog bite, and yet statistically one is more likely to be bitten by a dog than by a snake.This is because people tend to estimate the probability of an outcome based on how easy the outcome is to imagine.This represents which of the following cognitive biases?

Accepted Answer

A) Escalating commitment 
B) Hypothesis bias 
C) Availability error 
D) Representativeness 
E) Illusion of control 
A) Escalating commitment 
B) Hypothesis bias 
C) Availability error 
D) Representativeness 
E) Illusion of control

Question 10

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 11

A firm obtains competitive advantage when its strategy results in superior performance compared to its competitors.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following statements is true about functional-level managers?

Accepted Answer

A) They oversee the operation of an entire company or division. 
B) Their sphere of responsibility is generally confined to one organizational activity. 
C) Their activities and roles have no importance in realizing the strategic goals of an organization. 
D) They provide a link between the people who oversee the strategic development of a firm and those who own it. 
E) They occupy the apex of decision making within an organization. 
A) They oversee the operation of an entire company or division. 
B) Their sphere of responsibility is generally confined to one organizational activity. 
C) Their activities and roles have no importance in realizing the strategic goals of an organization. 
D) They provide a link between the people who oversee the strategic development of a firm and those who own it. 
E) They occupy the apex of decision making within an organization.

Question 13

Jeffrey Ffeffer believes that a manager's power comes from his or her:

Accepted Answer

A) ability to prioritize the well-being of the company over personal well-being. 
B) ability to be unemphatic toward the feelings and emotions of the subordinates. 
C) control over the important organizational resources. 
D) ability to cut overhead costs. 
E) personal rapport with the senior management. 
A) ability to prioritize the well-being of the company over personal well-being. 
B) ability to be unemphatic toward the feelings and emotions of the subordinates. 
C) control over the important organizational resources. 
D) ability to cut overhead costs. 
E) personal rapport with the senior management.

Question 14

Daryl works for Delta Corp.He is involved in all the important decision-making processes of the company and is also responsible for the overall performance of the company.In the context of strategic management, Daryl is most likely to be a .

Accepted Answer

A) line manager 
B) functional manager 
C) general manager 
D) production supervisor 
E) project manager 
A) line manager 
B) functional manager 
C) general manager 
D) production supervisor 
E) project manager

Question 15

The profit growth of a company can be measured by the increase in net profit over time.

Accepted Answer

A) True 
 B)False

Question 16

Good strategic leaders:

Accepted Answer

A) possess a willingness to delegate and empower subordinates. 
B) control all facets of decision making. 
C) make decisions without consulting others. 
D) ensure uniformity of purpose through the authoritarian exercise of power. 
E) are usually inconsistent in their approach. 
A) possess a willingness to delegate and empower subordinates. 
B) control all facets of decision making. 
C) make decisions without consulting others. 
D) ensure uniformity of purpose through the authoritarian exercise of power. 
E) are usually inconsistent in their approach.

Question 17

To increase shareholder value, managers must try to venture into new markets whether the results are profitable or not.

Accepted Answer

A) True 
 B)False

The first component of the strategic management process is:

Which of the following statements is true about the feedback loop in the context of strategy implementation?

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

Emergent strategies are the unplanned responses to unforeseen circumstances.

Holly owns a landscape company and is thinking about expanding her services to include outdoor water features (waterfalls, streams, ponds).If, before making this decision, she looks at the experience of similar fmns that have added outdoor water features, she is employing:

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

refers to the investment that shareholders make in a company that cannot be recovered if the company fails and goes bankrupt.

Which of the following is not a cognitive bias?

A firm obtains competitive advantage when its strategy results in superior performance compared to its competitors.

Which of the following statements is true about functional-level managers?

Jeffrey Ffeffer believes that a manager's power comes from his or her:

Daryl works for Delta Corp.He is involved in all the important decision-making processes of the company and is also responsible for the overall performance of the company.In the context of strategic management, Daryl is most likely to be a .

The profit growth of a company can be measured by the increase in net profit over time.

Good strategic leaders:

To increase shareholder value, managers must try to venture into new markets whether the results are profitable or not.

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 Analysis

The first component of the strategic management process is:

Which of the following statements is true about the feedback loop in the context of strategy implementation?

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

Emergent strategies are the unplanned responses to unforeseen circumstances.

Holly owns a landscape company and is thinking about expanding her services to include outdoor water features (waterfalls, streams, ponds).If, before making this decision, she looks at the experience of similar fmns that have added outdoor water features, she is employing:

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

refers to the investment that shareholders make in a company that cannot be recovered if the company fails and goes bankrupt.

Which of the following is not a cognitive bias?

A firm obtains competitive advantage when its strategy results in superior performance compared to its competitors.

Which of the following statements is true about functional-level managers?

Jeffrey Ffeffer believes that a manager's power comes from his or her:

Daryl works for Delta Corp.He is involved in all the important decision-making processes of the company and is also responsible for the overall performance of the company.In the context of strategic management, Daryl is most likely to be a .

The profit growth of a company can be measured by the increase in net profit over time.

Good strategic leaders:

To increase shareholder value, managers must try to venture into new markets whether the results are profitable or not.

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