Question 1

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)   functional areas work together to attain overall goals
C)   goals are defined at the bottom and implemented at the top
D)   management and employees have separate goalsE) None of the above
F) All of the above

Question 2

The hierarchy of organizational goals is in this order (least specific to most specific) :

Accepted Answer

A)   vision statements, strategic objectives, mission statements
B)   mission statements, strategic objectives, vision statements
C)   vision statements, mission statements, strategic objectives
D)   mission statements, vision statements, strategic objectivesE) A) and D)
F) A) and C)

Question 3

According to Henry Mintzberg,the realized strategies of a firm:

Accepted Answer

A)   are a combination of deliberate and emergent strategies
B)   are a combination of deliberate and differentiation strategies
C)   must be based on the strategic plan of the company
D)   must be kept confidential for competitive reasonsE) A) and D)
F) B) and D)

Question 4

__________ may be considered the advance work that must be done in order to effectively formulate and implement strategies.

Accepted Answer

A)   Goal setting
B)   Corporate entrepreneurship
C)   Strategy analysis
D)   Organizational designE) B) and D)
F) All of the above

Question 5

Firms must be aware of goals other than short-term profit maximization.One area of concern should be social responsibility which is:

Accepted Answer

A)   the expectation that business will strive to improve the overall welfare of society
B)   the idea that organizations are solely responsible to local citizens
C)   the fact that court costs could impact the financial bottom line
D)   the idea that businesses are responsible to maintain a healthy social climate for their employeesE) B) and C)
F) A) and D)

Question 6

Effectiveness is often defined as:

Accepted Answer

A)   doing things right
B)   stakeholder satisfaction
C)   doing the right thing
D)   productivity enhancementE) None of the above
F) A) and B)

Question 7

Some excellent examples of mission statements are: To be the happiest place on earth (Disneyland)and Restoring patients to full life (Medtronic).

Accepted Answer

A) True 
 B)False

Question 8

The success Apple,Inc.achieved over the past decade was a direct result of the creative and forceful leadership of its late CEO,Steve Jobs.According to the text,this would be an example of the "romantic" perspective of leadership.

Accepted Answer

A) True 
 B)False

Question 9

Effective vision statements include:

Accepted Answer

A)   all strategic directions of the organization
B)   a brief statement of the company's direction
C)   strategic posturing and future objectives
D)   financial objectives and projected figuresE) B) and D)
F) None of the above B

Question 10

All of the following are ambidextrous behaviors EXCEPT:

Accepted Answer

A)   taking initiative and being alert to opportunities beyond the confines of one's own job
B)   being cooperative and seeking opportunities to combine one's efforts with others
C)   intensely focusing on the responsibilities of one individual and maximizing the output of the department in the organization in which that individual works
D)   being brokers, always looking to build internal linkagesE) A) and C)
F) A) and B)

Question 11

Organizations must focus on financial and nonfinancial objectives.Select an organization and discuss possible financial and nonfinancial objectives the organization may have.

Accepted Answer

One organization that must focus on both...

Question 12

The text addresses two perspectives of leadership as well as their implications.These two perspectives are:

Accepted Answer

A)   romantic and unromantic
B)   romantic and internal control
C)   external control and unromantic
D)   romantic and external controlE) B) and C)
F) C) and D)

Question 13

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 upE) All of the above
F) A) and D) C

Question 14

Strategic management should only include short-term objectives.Long-term objectives are covered in the vision statement of the organization.

Accepted Answer

A) True 
 B)False

Question 15

A mission statement encompasses the purpose of the company as well as the basis of competition and competitive advantage.Compare the purpose of a mission statement to that of a vision statement and a strategic objective.

Accepted Answer

Mission Statement: A mission statement o...

Question 16

Business-level strategy focuses on (1)what businesses to compete in,and (2)the management of the business portfolio to create synergy among its businesses.

Accepted Answer

A) True 
 B)False

Question 17

Much research has supported the notion that individuals work much harder when they are asked to do their best rather than when they are striving toward a specific goal.

Accepted Answer

A) True 
 B)False

Question 18

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 imagesE) A) and B)
F) A) and C)

Question 19

Examples of __________ include: To be the happiest place on earth (Disneyland) ,and Restoring patients to full life (Medtronic) .

Accepted Answer

A)   vision statements
B)   mission statements
C)   strategic objectives
D)   operational objectivesE) A) and B)
F) C) and D)

Question 20

The concept of shared value redefines the purpose of the corporation as creating shared value in order to create a more even distribution of the profits to all employees,not just top level executives.

Accepted Answer

A) True 
 B)False  False

Exam 1: Strategic Management: Creating Competitiveadvantages

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

The hierarchy of organizational goals is in this order (least specific to most specific) :

Correct AnswerverifiedShow Answer

According to Henry Mintzberg,the realized strategies of a firm:

Correct AnswerverifiedShow Answer

__________ may be considered the advance work that must be done in order to effectively formulate and implement strategies.

Correct AnswerverifiedShow Answer

Firms must be aware of goals other than short-term profit maximization.One area of concern should be social responsibility which is:

Correct AnswerverifiedShow Answer

Effectiveness is often defined as:

Correct AnswerverifiedShow Answer

Some excellent examples of mission statements are: To be the happiest place on earth (Disneyland)and Restoring patients to full life (Medtronic).

Correct AnswerverifiedShow Answer

The success Apple,Inc.achieved over the past decade was a direct result of the creative and forceful leadership of its late CEO,Steve Jobs.According to the text,this would be an example of the "romantic" perspective of leadership.

Correct AnswerverifiedShow Answer

Effective vision statements include:

Correct AnswerverifiedB

All of the following are ambidextrous behaviors EXCEPT:

Correct AnswerverifiedShow Answer

Organizations must focus on financial and nonfinancial objectives.Select an organization and discuss possible financial and nonfinancial objectives the organization may have.

Correct AnswerAnswered by ExamLex AIOne organization that must focus on both...View AnswerShow Answer

The text addresses two perspectives of leadership as well as their implications.These two perspectives are:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedC

Strategic management should only include short-term objectives.Long-term objectives are covered in the vision statement of the organization.

Correct AnswerverifiedShow Answer

A mission statement encompasses the purpose of the company as well as the basis of competition and competitive advantage.Compare the purpose of a mission statement to that of a vision statement and a strategic objective.

Correct AnswerAnswered by ExamLex AIMission Statement: A mission statement o...View AnswerShow Answer

Business-level strategy focuses on (1)what businesses to compete in,and (2)the management of the business portfolio to create synergy among its businesses.

Correct AnswerverifiedShow Answer

Much research has supported the notion that individuals work much harder when they are asked to do their best rather than when they are striving toward a specific goal.

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

Examples of __________ include: To be the happiest place on earth (Disneyland) ,and Restoring patients to full life (Medtronic) .

Correct AnswerverifiedShow Answer

The concept of shared value redefines the purpose of the corporation as creating shared value in order to create a more even distribution of the profits to all employees,not just top level executives.

Correct AnswerverifiedFalse

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Answered by ExamLex AI
One organization that must focus on both...
View Answer

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C

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Answered by ExamLex AI
Mission Statement: A mission statement o...
View Answer

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