Question 1

Richard Branson, the founder of the Virgin Group, is well known for creating an inclusive organizational structure in which anybody in the organization can be involved in generating and activating upon new business ideas.

Accepted Answer

A) True 
 B)False

Question 2

All of 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) None of the above
F) A) and B)

Question 3

Strategy formulation and implementation is a challenging ongoing process. To be effective, it should not involve

Accepted Answer

A)  the CEO and the board of directors.
B)  the board of directors, CEO, and CFO.
C)  rivals.
D)  line and staff managers.E) A) and B)
F) A) and C)

Question 4

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 D)
F) A) and D)

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

According to the external control view of leadership, which of the following factors would not be considered an external factor that might positively or negatively affect a firm's success?

Accepted Answer

A)  economic downturns
B)  governmental legislation
C)  outbreak of war
D)  company employee moraleE) A) and D)
F) A) and B)

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

In large organizations, conflicts can arise between functional areas. In order to resolve these conflicts, strategic objectives

Accepted Answer

A)  put financial objectives above human considerations.
B)  align departments toward departmental goals.
C)  help resolve conflicts through their common purpose.
D)  cause debate and increase conflict.E) B) and D)
F) None of the above

Question 9

Local line leaders have little profit-and-loss responsibility.

Accepted Answer

A) True 
 B)False

Question 10

Stockholders, employees, and the community-at-large are among the stakeholders of a firm.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A)  only at the top
B)  in the middle
C)  throughout the organization
D)  only during times of changeE) None of the above
F) B) and D)

Question 12

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

Accepted Answer

A)  local line leaders
B)  executive leaders
C)  internal networkers
D)  shop floor leadersE) All of the above
F) B) and D)

Question 13

The three interrelated and principal activities of strategic management are: strategy analysis, strategy formulation, and strategy implementation.

Accepted Answer

A) True 
 B)False

Question 14

Ambidextrous behaviors in individuals illustrate how a dual capacity for _______ can be woven into the fabric of an organization at the individual level.

Accepted Answer

A)  alignment and adaptability
B)  alignment and transparency
C)  alignment and internal linkages
D)  alignment and efficiencyE) B) and C)
F) None of the above

Question 15

Nancy Snyder, corporate vice president of Whirlpool, shifted the reputation of the firm to that of an innovator by investing financially in capital spending.

Accepted Answer

A) True 
 B)False

Question 16

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.

Accepted Answer

A) True 
 B)False

Question 17

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) A) and D)
F) None of the above

Question 18

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.

Accepted Answer

A) True 
 B)False

Question 19

Members of boards of directors are

Accepted Answer

A)  appointed by the Securities and Exchange Commission.
B)  elected by the shareholders as their representatives.
C)  elected by the public.
D)  only allowed to serve one term of four years.E) B) and D)
F) B) and C)

Question 20

Visions need to be anchored in reality in order to be successful.

Accepted Answer

A) True 
 B)False

Exam 1: Strategic Management: Creating Competitive Advantages

Stockholders, employees, and the community-at-large are among the stakeholders of a firm.

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

Strategy formulation and implementation is a challenging ongoing process. To be effective, it should not involve

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Members of boards of directors are

Correct AnswerverifiedShow Answer

Ambidextrous behaviors in individuals illustrate how a dual capacity for _______ can be woven into the fabric of an organization at the individual level.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Nancy Snyder, corporate vice president of Whirlpool, shifted the reputation of the firm to that of an innovator by investing financially in capital spending.

Correct AnswerverifiedShow Answer

Visions need to be anchored in reality in order to be successful.

Correct AnswerverifiedShow Answer

The three interrelated and principal activities of strategic management are: strategy analysis, strategy formulation, and strategy implementation.

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In large organizations, conflicts can arise between functional areas. In order to resolve these conflicts, strategic objectives

Correct AnswerverifiedShow Answer

All of the following are ambidextrous behaviors except

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

According to the external control view of leadership, which of the following factors would not be considered an external factor that might positively or negatively affect a firm's success?

Correct AnswerverifiedShow Answer

Local line leaders have little profit-and-loss responsibility.

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

Richard Branson, the founder of the Virgin Group, is well known for creating an inclusive organizational structure in which anybody in the organization can be involved in generating and activating upon new business ideas.

Correct AnswerverifiedShow Answer

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