Question 1

Richard Branson,founder of the Virgin Group,empowers his companies through a(n) _______ structure in which anyone can bring forth new ideas.

Accepted Answer

A)   formal
B)   hierarchal
C)   multi-level
D)   informalE) B) and C)
F) A) and B)

Question 2

Sustainability is being increasingly recognized as a source of cost efficiencies and revenue growth.

Accepted Answer

A) True 
 B)False

Question 3

Corporate-level strategy looks at how to manage the ______ of its businesses to create synergies.

Accepted Answer

A)   portfolio
B)   stock prices
C)   competitors
D)   market pricingE) None of the above
F) A) and B)

Question 4

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 D)
F) All of the above

Question 5

According to Peter Senge,a leading strategic management author,creative tension results from the need to incorporate both short-term and long-term perspectives in strategic management.

Accepted Answer

A) True 
 B)False

Question 6

Strategic management requires managers at all levels of the organization to take a segregated view of the organization.

Accepted Answer

A) True 
 B)False

Question 7

Strategic management is only concerned with short-term perspectives.

Accepted Answer

A) True 
 B)False

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 D)
F) A) and D)

Question 9

Successful organizations are effective in motivating people.Employees work best when

Accepted Answer

A)   they are asked to do their best.
B)   work requirements are vague and unclear.
C)   they are striving toward specific goals.
D)   they are guided by an abstract mission statement.E) None of the above
F) All of the above

Question 10

In the Mintzberg model,organizational decisions determined only by analysis are intended strategy.

Accepted Answer

A) True 
 B)False

Question 11

In choosing to focus on stakeholders,which of the following will not lead to success for a manager?

Accepted Answer

A)   shareholders and employees
B)   employees and suppliers
C)   customers and the community at large
D)   customers onlyE) C) and D)
F) A) and D)

Question 12

The four key attributes of strategic management include the idea that strategy must

Accepted Answer

A)   be directed toward overall organizational goals and objectives.
B)   be focused only on long-term objectives.
C)   be focused on only one specific area of an organization.
D)   focus only on competitor strengths.E) A) and B)
F) A) and C)

Question 13

Whirlpool's transformation under corporate vice president Nancy Snyder included financial investments in

Accepted Answer

A)   shareholder dividends.
B)   capital spending.
C)   community development.
D)   paying down borrowed debt.E) A) and B)
F) A) and C)

Question 14

According to the text,the strategic management process entails three ongoing processes.They are

Accepted Answer

A)   analyses, actions, and synthesis.
B)   analyses, decisions, and actions.
C)   analyses, evaluation, and critique.
D)   analyses, synthesis, and decisions.E) B) and C)
F) A) and B)

Question 15

To inculcate a strategic management perspective,managers must often make a major effort to effect transformational change.

Accepted Answer

A) True 
 B)False

Question 16

Stockholders as a stakeholder group are interested primarily by

Accepted Answer

A)   payment of interest and repayment of principal.
B)   value and warranties.
C)   dividends and capital appreciation.
D)   taxes and compliance with regulations.E) B) and C)
F) A) and D)

Question 17

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) A) and C)
F) C) and D)

Question 18

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) A) and B)
F) B) and D)

Question 19

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 20

Showing interest in learning what others are thinking is a leadership weakness.

Accepted Answer

A) True 
 B)False

Exam 1: Strategic Management: Creating Competitive Advantages

The four key attributes of strategic management include the idea that strategy must

Correct AnswerverifiedShow Answer

According to Peter Senge,a leading strategic management author,creative tension results from the need to incorporate both short-term and long-term perspectives in strategic management.

Correct AnswerverifiedShow Answer

Whirlpool's transformation under corporate vice president Nancy Snyder included financial investments in

Correct AnswerverifiedShow Answer

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

According to the text,the strategic management process entails three ongoing processes.They are

Correct AnswerverifiedShow Answer

To inculcate a strategic management perspective,managers must often make a major effort to effect transformational change.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Strategic management requires managers at all levels of the organization to take a segregated view of the organization.

Correct AnswerverifiedShow Answer

Showing interest in learning what others are thinking is a leadership weakness.

Correct AnswerverifiedShow Answer

In the Mintzberg model,organizational decisions determined only by analysis are intended strategy.

Correct AnswerverifiedShow Answer

In choosing to focus on stakeholders,which of the following will not lead to success for a manager?

Correct AnswerverifiedShow Answer

Richard Branson,founder of the Virgin Group,empowers his companies through a(n) _______ structure in which anyone can bring forth new ideas.

Correct AnswerverifiedShow Answer

Corporate-level strategy looks at how to manage the ______ of its businesses to create synergies.

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

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

Correct AnswerverifiedShow Answer

Sustainability is being increasingly recognized as a source of cost efficiencies and revenue growth.

Correct AnswerverifiedShow Answer

Successful organizations are effective in motivating people.Employees work best when

Correct AnswerverifiedShow Answer

Stockholders as a stakeholder group are interested primarily by

Correct AnswerverifiedShow Answer

Strategic management is only concerned with short-term perspectives.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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