Question 1

The text argues that a strategic perspective in an organization should be emphasized

Accepted Answer

A)  at the top of the organization.
B)  at the middle of the organization.
C)  throughout the organization.
D)  from the bottom up.E) B) and C)
F) A) and D)

Question 2

Corporate level strategy focuses on what businesses to compete in and

Accepted Answer

A)  how business can be managed to achieve synergy.
B)  how business can be managed to reduce synergy.
C)  how the firm can work as a stand-alone entity.
D)  how the firm can create more value by operating alone.E) A) and D)
F) B) and D)

Question 3

Supplier stakeholders are concerned with

Accepted Answer

A)  assurance of a continued relationship with the firm.
B)  employee benefits.
C)  safe working conditions.
D)  capital appreciation.E) All of the above
F) B) and C)

Question 4

Sustainability initiatives rarely have difficulty making it through the conventional approval process within corporations because managers are not concerned about their return on investment.

Accepted Answer

A) True 
 B)False

Question 5

According to a recent study involving 41 business units in 10 multinational companies, one ambidextrous behavior exhibited by managers is that of being brokers who are always looking to build internal networks.

Accepted Answer

A) True 
 B)False

Question 6

WellPoint Health Network states: WellPoint will redefine our industry: through a new generation of consumer-friendly products that put individuals back in control of their future. This is an example of a

Accepted Answer

A)  strategic objective.
B)  vision statement.
C)  vague statement of direction.
D)  line manager's individual goal.E) A) and B)
F) All of the above

Question 7

Many organizations have a large number of functional areas with very diverse and sometimes competing interests. Such organizations will be most effective if

Accepted Answer

A)  each functional area focuses on achieving their own goals.
B)  goals are defined at the bottom and implemented at the top.
C)  functional areas work together to attain overall goals.
D)  management and employees have separate goals.E) A) and D)
F) A) and C)

Question 8

Learning organizations permit the entire organization to benefit from ____________ talents.

Accepted Answer

A)  internal and external
B)  individual and collective
C)  internal and collective
D)  external and individualE) B) and C)
F) None of the above

Question 9

Strategies should be formulated that enhance foremost the ____________ capacity of a firm.

Accepted Answer

A)  innovative
B)  learning
C)  implementation
D)  business-levelE) A) and C)
F) All of the above

Question 10

Strategy analysis is the study of the external environments of the firm.

Accepted Answer

A) True 
 B)False

Question 11

Focusing on a single stakeholder is a good strategic principle for managers to follow.

Accepted Answer

A) True 
 B)False

Question 12

According to Henry Mintzberg, the final realized strategy of a firm is

Accepted Answer

A)  a combination of deliberate and emergent strategies.
B)  a combination of deliberate and differentiation strategies.
C)  not deliberate.
D)  a result of unrealized intended strategy.E) A) and B)
F) A) and C)

Question 13

Strategy analysis is the starting point of the strategic management process and consists of the

Accepted Answer

A)  analysis only of the vision, mission, and objectives of the firm.
B)  analysis of the relevant internal and external environmental factors only.
C)  analysis of relevant competitors only.
D)  matching of vision, mission, and objectives with the relevant internal and external environmental factors.E) B) and C)
F) A) and C)

Question 14

Northrup Grumman saved $2 million in energy costs at a single facility by installing reflective roofs and fluorescent lighting, replacing old equipment, and making minor temperature and humidity-level adjustments. This is an example of the benefit of

Accepted Answer

A)  increasing revenue efforts.
B)  marketing programs.
C)  sustainability efforts.
D)  process management.E) None of the above
F) C) and D)

Question 15

As a stakeholder group, communities are interested in good citizenship behavior.

Accepted Answer

A) True 
 B)False

Question 16

Environmental sustainability is a value embraced by the most competitive and successful multinational companies.

Accepted Answer

A) True 
 B)False

Question 17

There is a positive influence of CSR on the consumer evaluation of companies and their purchasing decisions, according to recent studies.

Accepted Answer

A) True 
 B)False

Question 18

Management innovations such as total quality, just-in-time, benchmarking, business process reengineering, and outsourcing are important, but not enough for building sustainable competitive advantage.

Accepted Answer

A) True 
 B)False

Question 19

Vision statements are used to create a better understanding of the overall purpose and direction of the organization. Vision statements

Accepted Answer

A)  are very specific.
B)  provide specific objectives.
C)  set organizational structure.
D)  evoke powerful and compelling mental images.E) All of the above
F) A) and C)

Question 20

Although such visions cannot be accurately measured by a specific indicator of how well they are being achieved, they do provide a fundamental statement of the __________ of an organization.

Accepted Answer

A)  values, aspirations, and goals
B)  expected returns and limitations
C)  outstanding debt
D)  credibilityE) B) and C)
F) None of the above

Exam 1: Strategic Management: Creating Competitive Advantages

Northrup Grumman saved $2 million in energy costs at a single facility by installing reflective roofs and fluorescent lighting, replacing old equipment, and making minor temperature and humidity-level adjustments. This is an example of the benefit of

Correct AnswerverifiedShow Answer

Strategy analysis is the study of the external environments of the firm.

Correct AnswerverifiedShow Answer

Management innovations such as total quality, just-in-time, benchmarking, business process reengineering, and outsourcing are important, but not enough for building sustainable competitive advantage.

Correct AnswerverifiedShow Answer

Although such visions cannot be accurately measured by a specific indicator of how well they are being achieved, they do provide a fundamental statement of the __________ of an organization.

Correct AnswerverifiedShow Answer

According to Henry Mintzberg, the final realized strategy of a firm is

Correct AnswerverifiedShow Answer

Learning organizations permit the entire organization to benefit from ____________ talents.

Correct AnswerverifiedShow Answer

There is a positive influence of CSR on the consumer evaluation of companies and their purchasing decisions, according to recent studies.

Correct AnswerverifiedShow Answer

According to a recent study involving 41 business units in 10 multinational companies, one ambidextrous behavior exhibited by managers is that of being brokers who are always looking to build internal networks.

Correct AnswerverifiedShow Answer

Focusing on a single stakeholder is a good strategic principle for managers to follow.

Correct AnswerverifiedShow Answer

As a stakeholder group, communities are interested in good citizenship behavior.

Correct AnswerverifiedShow Answer

Strategy analysis is the starting point of the strategic management process and consists of the

Correct AnswerverifiedShow Answer

Vision statements are used to create a better understanding of the overall purpose and direction of the organization. Vision statements

Correct AnswerverifiedShow Answer

WellPoint Health Network states: WellPoint will redefine our industry: through a new generation of consumer-friendly products that put individuals back in control of their future. This is an example of a

Correct AnswerverifiedShow Answer

The text argues that a strategic perspective in an organization should be emphasized

Correct AnswerverifiedShow Answer

Environmental sustainability is a value embraced by the most competitive and successful multinational companies.

Correct AnswerverifiedShow Answer

Supplier stakeholders are concerned with

Correct AnswerverifiedShow Answer

Many organizations have a large number of functional areas with very diverse and sometimes competing interests. Such organizations will be most effective if

Correct AnswerverifiedShow Answer

Sustainability initiatives rarely have difficulty making it through the conventional approval process within corporations because managers are not concerned about their return on investment.

Correct AnswerverifiedShow Answer

Corporate level strategy focuses on what businesses to compete in and

Correct AnswerverifiedShow Answer

Strategies should be formulated that enhance foremost the ____________ capacity of a firm.

Correct AnswerverifiedShow Answer

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