Question 1

Traditional financial models are built around relatively easy-to-measure,monetized results; whereas,the benefits of sustainability projects involve

Accepted Answer

A)   clear tangibles.
B)   clear intangibles.
C)   fuzzy tangibles.
D)   fuzzy intangibles.E) A) and D)
F) C) and D)

Question 2

Stockholders as a stakeholder group are interested primarily in

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) All of the above
F) A) and B)

Question 3

Effective leaders set a direction and develop an organization so that it is committed to excellence and ________ behavior.

Accepted Answer

A)   performant
B)   strategic
C)   ethical
D)   positiveE) B) and C)
F) A) and C)

Question 4

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

Question 5

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) B) and C)
F) All of the above

Question 6

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 B)
F) All of the above

Question 7

According to the Corporate Citizenship poll conducted by Cone Communications,most Americans say they would be likely to switch brands to one associated with a good cause,if there are similarities between

Accepted Answer

A)   price and availability.
B)   availability and quality.
C)   price and quality.
D)   price and durability.E) B) and C)
F) None of the above

Question 8

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) All of the above
F) C) and D)

Question 9

The strategic management process should be addressed only by top-level executives.Mid-level and low-level employees are best equipped to implement the strategies of the organization.

Accepted Answer

A) True 
 B)False

Question 10

Stakeholders are

Accepted Answer

A)   a new way to describe stockholders.
B)   individuals, groups, and organizations who have a stake in the success of the organization.
C)   creditors who hold a lien on the assets of the organization.
D)   attorneys and their clients who sue the organization.E) None of the above
F) A) and C)

Question 11

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) C) and D)

Question 12

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

Accepted Answer

A)   innovative
B)   learning
C)   implementation
D)   business-levelE) None of the above
F) A) and C)

Question 13

Much research has supported the notion that individuals work much harder when they are asked to do their best rather than when they are striving toward a specific goal.

Accepted Answer

A) True 
 B)False

Question 14

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

Question 15

Shell,NEC,and Procter and Gamble have been measuring their performance according to what has been called a triple bottom line.This technique involves an assessment of financial,social,and environmental performance.

Accepted Answer

A) True 
 B)False

Question 16

________ may be considered the advance work that must be done in order to effectively formulate and implement strategies.

Accepted Answer

A)   Goal setting
B)   Corporate entrepreneurship
C)   Strategy analysis
D)   Organizational designE) None of the above
F) B) and C)

Question 17

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 18

The organizational versus the individual rationality perspective suggests that objectives that are

Accepted Answer

A)   good for a functional area are always good for the overall organization.
B)   good for the overall organization are always best for a functional area.
C)   best for a functional area may not be best for the overall organization.
D)   best for one functional area will never be best for all functional areas.E) A) and B)
F) B) and D)

Question 19

Peter Senge,of MIT,recognized three types of leaders.Which of the following describes individuals who champion and guide ideas,create 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) A) and B)
F) All of the above

Question 20

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

Accepted Answer

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

Exam 1: Strategic Management: Creating Competitive Advantages

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Shell,NEC,and Procter and Gamble have been measuring their performance according to what has been called a triple bottom line.This technique involves an assessment of financial,social,and environmental performance.

Correct AnswerverifiedShow Answer

The strategic management process should be addressed only by top-level executives.Mid-level and low-level employees are best equipped to implement the strategies of the organization.

Correct AnswerverifiedShow Answer

Much research has supported the notion that individuals work much harder when they are asked to do their best rather than when they are striving toward a specific goal.

Correct AnswerverifiedShow Answer

Effective leaders set a direction and develop an organization so that it is committed to excellence and ________ behavior.

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

Stockholders as a stakeholder group are interested primarily in

Correct AnswerverifiedShow Answer

________ may be considered the advance work that must be done in order to effectively formulate and implement strategies.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Peter Senge,of MIT,recognized three types of leaders.Which of the following describes individuals who champion and guide ideas,create learning infrastructure,and establish a domain for taking action?

Correct AnswerverifiedShow Answer

Members of boards of directors are

Correct AnswerverifiedShow Answer

Traditional financial models are built around relatively easy-to-measure,monetized results; whereas,the benefits of sustainability projects involve

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Stakeholders are

Correct AnswerverifiedShow Answer

According to the Corporate Citizenship poll conducted by Cone Communications,most Americans say they would be likely to switch brands to one associated with a good cause,if there are similarities between

Correct AnswerverifiedShow Answer

The organizational versus the individual rationality perspective suggests that objectives that are

Correct AnswerverifiedShow Answer

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