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Exam 1: Strategic Management: Creating Competitiveadvantages

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Question 21

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According to Henry Mintzberg,decisions following from the strategic analysis of the firm are its:

A) emergent strategy
B) deliberate strategy
C) intended strategy
D) realized strategy

E) A) and B)
F) A) and C)

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Question 22

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__________ involves ensuring proper strategic controls and organizational designs.

A) Corporate governance
B) Corporate-level strategy
C) Strategy implementation
D) Business-level strategy

E) A) and B)
F) A) and C)

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Question 23

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According to Henry Mintzberg,a management scholar,most firms realize their original intended strategy.

Strategic management recognizes the trade-offs between effectiveness and efficiency.

A mission statement encompasses both the purpose of the organization as well as its basis of competition,and the basis of its competitive advantage.

Decisions by boards of directors are always consistent with shareholder interests.

Symbiosis is the ability to recognize interdependencies among the interests of multiple stakeholders within and outside an organization.

The vision and mission statements of a company set the overall direction of the organization.Strategic objectives serve what role?

In contrast to the vision of an organization,its mission should:

According to the text,formulating strategy includes taking into consideration strategy at the business,corporate,and international levels.

The vision of an organization is the top level of its hierarchy of organizational goals.The vision statement should be massively inspiring,overarching,and long term.

Peter Senge,of MIT,recognized three types of leaders.__________ champion and guide ideas,create a learning infrastructure,and establish a domain for taking action.

Leadership is a necessary (but not sufficient) condition for organizational success.Leaders should emerge at which level(s) of an organization?

Procter and Gamble has perfected a technique for compacting cleaning powder into a liquid concentration.Consumers,retailers,shipping and wholesalers,and environmentalists all have benefited from the resulting change in consumer shopping habits and the revolution in industry supply-chain economics.According to the text,this is an example of __________.

Stockholders in a company are the only individuals with an interest in the financial performance of the company.

A CEO made a lot of mistakes in assessing the market and the competitive conditions and improperly redesigning the organization into numerous business units.Such errors led to significant performance declines.According to the text,this example illustrates the __________ perspective of leadership.

The three participants in corporate governance are:

According to the text,a mission statement is an overarching statement that is massively inspiring,long term,and only discusses the purpose of the company.

According to the text,the triple bottom line approach to corporate accounting includes three components:

The four key attributes of strategic management include the idea that: