Question 1

Strategy formulation at the business level addresses best how to compete in a given business

Accepted Answer

A)   to attain competitive advantage.
B)   to reduce costs.
C)   to decrease buyer power.
D)   to thwart entry of new rivals.E) A) and B)
F) A) and C)

Question 2

Which of the following is not an example of a financial strategic objective?

Accepted Answer

A)   Increase sales growth 6 percent to 8 percent and accelerate core net earnings growth from 13 percent to 15 percent per share in each of the next 5 years. (Procter & Gamble) 
B)   Reduce volatile air emissions 15 percent by 2015 from 2010 base year, indexed to net sales. (3M) 
C)   Generate Internet-related revenue of $1.5 billion. (AutoNation) 
D)   Cut corporate overhead costs by $30 million per year. (Fortune Brands) E) None of the above
F) All of the above

Question 3

Strategic management consists of the analyses,decisions,and actions an organization undertakes in order to create and sustain competitive advantages.

Accepted Answer

A) True 
 B)False

Question 4

The three participants in corporate governance are the shareholders,

Accepted Answer

A)   board of directors, and employees.
B)   labor unions, and employees.
C)   board of directors, and management.
D)   banks and lending institutions, and management.E) B) and D)
F) All of the above

Question 5

An idealistic vision can arouse employee enthusiasm and therefore is a good vision.

Accepted Answer

A) True 
 B)False

Question 6

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

Question 7

Local line leaders have ________ responsibility.

Accepted Answer

A)   local
B)   executive
C)   profit-and-loss
D)   noE) None of the above
F) A) and D)

Question 8

Strategic coherence is an essential element for assuring that a company's mission/vision is realized.Describe the factors that are involved in creating strategic coherence.Use an industry example to support your description and explain how the objectives meet the SMART criteria (Specific,Measurable,Appropriate,Realistic,Timely).

Accepted Answer

Strategic coherence refers to the alignm...

Question 9

Strategy implementation can be the most difficult part of the strategic management process.Which of the following is not likely to be a cause of implementation failure?

Accepted Answer

A)   leadership
B)   competition
C)   coordination and integration of activities within and outside of the firm
D)   organizational commitment to excellenceE) B) and D)
F) B) and C)

Question 10

All the following are ambidextrous behaviors except

Accepted Answer

A)   taking initiative and being alert to opportunities beyond the job description.
B)   being cooperative and seeking opportunities to combine personal efforts with that of 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 linkages.E) A) and D)
F) None of the above

Question 11

Ms.Frederica Marchionni became CEO of Land's End in February 2015 when the company showed a 73.8 million-dollar profit.By mid-June of 2016,the company had lost 27.2 million dollars.What went wrong?

Accepted Answer

A)   The new leadership did not understand the corporate culture and image.
B)   The marketplace liked the new image.
C)   The founder undermined the new CEO in her ability to bring about change.
D)   The new goals and objectives were coherent with the company mission statement.E) B) and D)
F) B) and C)

Question 12

Entering foreign markets requires firms to ascertain foremost how they will attain

Accepted Answer

A)   market share.
B)   low costs.
C)   competitive advantage.
D)   low returns on investment.E) None of the above
F) C) and D)

Question 13

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

Accepted Answer

A)   portfolio
B)   corporate-level
C)   business-level
D)   entrepreneurialE) B) and C)
F) A) and D)

Question 14

Effectiveness is often defined as

Accepted Answer

A)   doing things right.
B)   stakeholder satisfaction.
C)   doing the right thing.
D)   productivity enhancement.E) A) and B)
F) A) and C)

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

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

Accepted Answer

A)   stakeholders are dependent on each other for their success.
B)   stakeholders look out for their individual interests.
C)   one can only gain at the expense of someone else.
D)   all stakeholders want to maximize shareholder returns.E) A) and B)
F) A) and C)

Question 17

Effective organizational design means that firms must have ________ that are consistent with their strategy.

Accepted Answer

A)   designs and plans
B)   organizational structures and designs
C)   adopters and designs
D)   adopters and plansE) None of the above
F) A) and B)

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)   are massively inspiring.E) A) and C)
F) B) and C)

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

The case for sustainability projects needs to be made on the basis of a more holistic and comprehensive understanding of all the ________ benefits.

Accepted Answer

A)   measurable and unmeasurable
B)   financial and physical
C)   tangible and intangible
D)   measurable and physicalE) None of the above
F) A) and B)

Exam 1: Strategic Management: Creating Competitive Advantages

Supplier stakeholders are concerned with

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

Correct Answer
verified

Strategic management consists of the analyses,decisions,and actions an organization undertakes in order to create and sustain competitive advantages.

Correct Answer
verified

Ms.Frederica Marchionni became CEO of Land's End in February 2015 when the company showed a 73.8 million-dollar profit.By mid-June of 2016,the company had lost 27.2 million dollars.What went wrong?

Correct Answer
verified

Effectiveness is often defined as

Correct Answer
verified

The three participants in corporate governance are the shareholders,

Correct Answer
verified

Strategy formulation at the business level addresses best how to compete in a given business

Correct Answer
verified

Effective organizational design means that firms must have ________ that are consistent with their strategy.

Correct Answer
verified

Which of the following is not an example of a financial strategic objective?

Correct Answer
verified

The case for sustainability projects needs to be made on the basis of a more holistic and comprehensive understanding of all the ________ benefits.

Correct Answer
verified

All the following are ambidextrous behaviors except

Correct Answer
verified

Correct Answer
Answered by ExamLex AI
Strategic coherence refers to the alignm...
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Local line leaders have ________ responsibility.

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

Correct Answer
verified

An idealistic vision can arouse employee enthusiasm and therefore is a good vision.

Correct Answer
verified

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

Correct Answer
verified

Strategy implementation can be the most difficult part of the strategic management process.Which of the following is not likely to be a cause of implementation failure?

Correct Answer
verified

Entering foreign markets requires firms to ascertain foremost how they will attain

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

Exam 1: Strategic Management: Creating Competitive Advantages

Supplier stakeholders are concerned with

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Strategic management consists of the analyses,decisions,and actions an organization undertakes in order to create and sustain competitive advantages.

Correct AnswerverifiedShow Answer

Ms.Frederica Marchionni became CEO of Land's End in February 2015 when the company showed a 73.8 million-dollar profit.By mid-June of 2016,the company had lost 27.2 million dollars.What went wrong?

Correct AnswerverifiedShow Answer

Effectiveness is often defined as

Correct AnswerverifiedShow Answer

The three participants in corporate governance are the shareholders,

Correct AnswerverifiedShow Answer

Strategy formulation at the business level addresses best how to compete in a given business

Correct AnswerverifiedShow Answer

Effective organizational design means that firms must have ________ that are consistent with their strategy.

Correct AnswerverifiedShow Answer

Which of the following is not an example of a financial strategic objective?

Correct AnswerverifiedShow Answer

The case for sustainability projects needs to be made on the basis of a more holistic and comprehensive understanding of all the ________ benefits.

Correct AnswerverifiedShow Answer

All the following are ambidextrous behaviors except

Correct AnswerverifiedShow Answer

Correct AnswerAnswered by ExamLex AIStrategic coherence refers to the alignm...View AnswerShow Answer

Local line leaders have ________ responsibility.

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

An idealistic vision can arouse employee enthusiasm and therefore is a good vision.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Strategy implementation can be the most difficult part of the strategic management process.Which of the following is not likely to be a cause of implementation failure?

Correct AnswerverifiedShow Answer

Entering foreign markets requires firms to ascertain foremost how they will attain

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
Answered by ExamLex AI
Strategic coherence refers to the alignm...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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