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Exam 1: Strategic Management: Creating Competitive Advantages

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Question 31

Multiple Choice

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

A) romantic and unromantic.
B) romantic and internal control.
C) external control and unromantic.
D) romantic and external control.

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

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Question 32

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Management innovations such as total quality,benchmarking,and business process reengineering cannot lead to sustainable competitive advantage because

A) companies that have implemented these techniques have lost money.
B) there is no proof that these techniques work.
C) they cost too much money and effort to implement.
D) every company is trying to implement them.

E) None of the above
F) All of the above

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Question 33

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

Strategic management involves the recognition of trade-offs between effectiveness and

New value creation is a major engine for economic growth and is the main focus of _______________ strategy.

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

One of the reasons a vision fails is that too much focus can lead to missed opportunities.

Melvin Alexander,executive director of Principled Solutions Enterprise,a management consulting firm specializing in health care,suggests that environmental changes oblige firms to make strategic changes in order to survive.Which of the following is one of the strategic changes he foresees will occur in the next three to five years?

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

A good mission statement,by addressing each principal theme,must communicate why an organization is special and different.

Leaders are responsible for creating a learning organization so that the entire organization can benefit only from the individual talents.

Managers should do more than focus on short-term financial performance.One concept that helps managers do this is stakeholder symbiosis.This means that

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

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.

In large organizations,the potential exists for different parts of an organization to pursue its own goals rather than the overall company goals.Proper _______ can help to resolve conflicts when they arise.

The final realized strategy of a firm is a combination of deliberate and emergent strategies.

Firms must exercise either informational control or behavioral control in order to assure proper strategy implementation.

There are few benefits to having broad investment throughout the organization in the strategic management process.

The ROI on sustainability efforts can be difficult to quantify because

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.