Question 1

The scenario approach to strategic planning involves

Accepted Answer

A)  devising plans for coping with a number of different possible future states of the world.
B)  homing in on a single prediction of future demand conditions using an iterative planning process.
C)  functional managers setting key corporate objectives.
D)  using computers to build virtual worlds for top-level managers.
E)  making planning the exclusive domain of top-level managers.

Question 2

In practice,the strategies of most organizations are probably a combination of the intended and emergent strategies.

Accepted Answer

A) True 
 B)False

Question 3

Walmart's business model focused on urban and suburban locations.

Accepted Answer

A) True 
 B)False

Question 4

Strategy formulation refers to the

Accepted Answer

A)  task of designing organizational structures and control systems.
B)  process by which strategies are put into action.
C)  top-down planning process that gives rise to the implementation of emergent strategies.
D)  task of analyzing an organization's external and internal environment and then selecting an appropriate strategy.
E)  process of choosing a realized strategy.

Question 5

A business model is managers' conception of how the set of strategies their company pursues should mesh together into a congruent whole,thus enabling the company to gain a competitive advantage and achieve superior profitability and profit growth.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following dimensions are encompassed by a company's business model?

Accepted Answer

A)  Selecting customers
B)  Defining and differentiating its product offerings
C)  Determining how it will produce goods and services
D)  Determining how it will grow the business over time
E)  All of these choices.

Question 7

Identify the levels of strategic managers and discuss their role in the strategic management process.

Accepted Answer

The three levels of strategic managers a...

Question 8

Emergent strategies arise in a company with careful long-term planning.

Accepted Answer

A) True 
 B)False

Question 9

To increase shareholder value,managers must pursue strategies that increase revenue and market share,whether the results are profitable or not.

Accepted Answer

A) True 
 B)False

Question 10

Describe at least three characteristics of strong strategic leaders.Explain how each of the three characteristics would help motivate and lead an organization's personnel.

Accepted Answer

Strong leaders have a clear vision of wh...

Question 11

Good strategic leaders

Accepted Answer

A)  possess a willingness to delegate and empower subordinates.
B)  control all facets of decision making.
C)  are confident in their ability to make sound decisions without consulting others.
D)  assure uniformity of purpose through the exercise of power.
E)  have the ability to be inconsistent when the situation requires inconsistency.

Question 12

Holly owns a landscape company and is thinking about expanding her services to include outdoor water features (waterfalls,streams,ponds) .If,before making this decision,she looks at the experience of similar firms that have added outdoor water features,she is employing

Accepted Answer

A)  wishful thinking.
B)  aqua-evaluation.
C)  devil's advocacy.
D)  outside view.
E)  dialectic inquiry.

Question 13

Edward Wrapp's ideas about the astuteness of political power suggest that successful strategic managers

Accepted Answer

A)  are skilled organizational politicians who can build consensus and get their ideas pushed through.
B)  are unwilling to live with less than total acceptance of their programs.
C)  maintain tight control over as many decisions as possible.
D)  publicly commit themselves to bold strategic agendas.
E)  recognize the futility of pursuing intended strategies.

Question 14

A firm obtains competitive advantage when its strategy results in superior performance relative to its competitors.

Accepted Answer

A) True 
 B)False

Question 15

The concepts vision and mission can be used interchangeably.

Accepted Answer

A) True 
 B)False

Question 16

A company's mission

Accepted Answer

A)  lays out the desired future state of the company.
B)  outlines the manner in which employees and managers should conduct themselves.
C)  defines the manner in which strategies will be developed and attained.
D)  describes what the company does.
E)  answers the question,"What will our business become?"

Question 17

ROIC is a measure of how efficiently and effectively managers use the capital at their disposal to produce profitability.

Accepted Answer

A) True 
 B)False

Question 18

Well-constructed goals provide a means by which the performance of managers can be evaluated.

Accepted Answer

A) True 
 B)False

Question 19

Betsy Holden is the head of Kraft Foods,a division of the Philip Morris Company.Which of the following is not likely to be one of Ms.Holden's responsibilities?

Accepted Answer

A)  Turning corporate-level strategy into action
B)  Defining Philip Morris's mission
C)  Deciding how to compete in the foods industry
D)  Supervising functional-level managers
E)  Developing a business-level strategy

Question 20

Time Inc.experienced an increase in its subscriber base because of early entry into Web publishing.

Accepted Answer

A) True 
 B)False

Exam 1: Strategic Leadership: Managing the Strategy-Making Process for Competitive Advantage

Strategy formulation refers to the

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A company's mission

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Emergent strategies arise in a company with careful long-term planning.

Correct AnswerverifiedShow Answer

Which of the following dimensions are encompassed by a company's business model?

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A firm obtains competitive advantage when its strategy results in superior performance relative to its competitors.

Correct AnswerverifiedShow Answer

Edward Wrapp's ideas about the astuteness of political power suggest that successful strategic managers

Correct AnswerverifiedShow Answer

Describe at least three characteristics of strong strategic leaders.Explain how each of the three characteristics would help motivate and lead an organization's personnel.

Correct AnswerverifiedStrong leaders have a clear vision of wh...View AnswerShow Answer

Well-constructed goals provide a means by which the performance of managers can be evaluated.

Correct AnswerverifiedShow Answer

To increase shareholder value,managers must pursue strategies that increase revenue and market share,whether the results are profitable or not.

Correct AnswerverifiedShow Answer

Walmart's business model focused on urban and suburban locations.

Correct AnswerverifiedShow Answer

Good strategic leaders

Correct AnswerverifiedShow Answer

In practice,the strategies of most organizations are probably a combination of the intended and emergent strategies.

Correct AnswerverifiedShow Answer

Identify the levels of strategic managers and discuss their role in the strategic management process.

Correct AnswerverifiedThe three levels of strategic managers a...View AnswerShow Answer

The concepts vision and mission can be used interchangeably.

Correct AnswerverifiedShow Answer

Time Inc.experienced an increase in its subscriber base because of early entry into Web publishing.

Correct AnswerverifiedShow Answer

Holly owns a landscape company and is thinking about expanding her services to include outdoor water features (waterfalls,streams,ponds) .If,before making this decision,she looks at the experience of similar firms that have added outdoor water features,she is employing

Correct AnswerverifiedShow Answer

A business model is managers' conception of how the set of strategies their company pursues should mesh together into a congruent whole,thus enabling the company to gain a competitive advantage and achieve superior profitability and profit growth.

Correct AnswerverifiedShow Answer

The scenario approach to strategic planning involves

Correct AnswerverifiedShow Answer

ROIC is a measure of how efficiently and effectively managers use the capital at their disposal to produce profitability.

Correct AnswerverifiedShow Answer

Betsy Holden is the head of Kraft Foods,a division of the Philip Morris Company.Which of the following is not likely to be one of Ms.Holden's responsibilities?

Correct AnswerverifiedShow Answer

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Strong leaders have a clear vision of wh...
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The three levels of strategic managers a...
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