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Topic: The Strategic Management Perspective: An Imperative throughout the Organization
72.
Nancy Snyder, corporate vice president of Whirlpool, shifted the reputation of the firm to that of an
innovator by investing financially in capital spending.
73.
Successful executives do not reward honesty and input and do not show their interest in learning what
others are thinking.
74.
According to the CEO of IDEO, Tim Brown, spotting and promoting at any level in the firm is
important.
75.
There are few benefits to having broad investment throughout the organization in the strategic
management process.
76.
Showing interest in learning what others are thinking is a leadership weakness.
77.
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.
78.
Strategic objectives are more specific than vision statements.
79.
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.
80.
A mission statement encompasses both the purpose of the organization as well as its basis of
competition, and the basis of its competitive advantage.
81.
Strategic objectives should be measurable, specific, appropriate, and realistic, but not constrained by
time deadlines.
82.
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.
83.
Objectives in organizations should be clear, stated, and known by employees throughout the
organization.
84.
Strategic management should only include short-term objectives. Long-term objectives are covered in
the vision statement of the organization.
85.
Organizational goals and objectives should be vague in order to allow for changes in strategy.
86.
An idealistic vision can arouse employee enthusiasm and therefore is a good vision.
87.
One of the reasons a vision fails is that too much focus can lead to missed opportunities.
88.
Visions need to be anchored in reality in order to be successful.
89.
Effective mission statements incorporate the concept of stakeholder management, suggesting that
organizations must respond to a single constituency.
90.
A good mission statement, by addressing each principal theme, must communicate why an organization
is special and different.
91.
When formulating strategic objectives, managers need to remember that too many objectives can result
in a lack of focus and diminished results.
Multiple Choice Questions
92.
The text addresses two perspectives of leadership as well as their implications. These two perspectives
are
93.
A CEO made a lot of mistakes in assessing the market and the competitive conditions and improperly
redesigning the organization into numerous business units. Such errors led to significant performance
declines. According to the text, this example illustrates the __________ perspective of leadership.
94.
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?
95.
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?
96.
According to the text, the strategic management process entails three ongoing processes. They are
97.
Management innovations such as total quality, benchmarking, and business process reengineering
cannot lead to sustainable competitive advantage because
98.
The organizational versus the individual rationality perspective suggests that objectives that are
99.
The four key attributes of strategic management include the idea that strategy must
100.
The four key attributes of strategic management include all of the following except
101.
Effectiveness is often defined as
102.
In choosing to focus on stakeholders, which of the following will not lead to success for a manager?
103.
In strategic management, both the short-term and long-term perspectives need to be considered because
104.
Strategic management involves the recognition of trade-offs between effectiveness and
105.
All of the following are ambidextrous behaviors except
106.
Ambidextrous behaviors in individuals illustrate how a dual capacity for _______ can be woven into the
fabric of an organization at the individual level.
107.
According to Henry Mintzberg, the final realized strategy of a firm is
108.
__________ may be considered the advance work that must be done in order to effectively formulate
and implement strategies.
109.
Strategy analysis is the starting point of the strategic management process and consists of the
110.
Strategy formulation at the business level addresses best how to compete in a given business:
111.
Corporate level strategy focuses on what businesses to compete in and
112.
Corporate-level strategy looks at how to manage the ______ of its businesses to create synergies.
113.
Entering foreign markets requires firms to ascertain foremost how they will attain
114.
New value creation is a major engine for economic growth and is the main focus of _______________
strategy.
115.
Two types of strategic control that firms must exercise for good strategy implementation are
116.
Effective organizational design means that firms must have ________ that are consistent with their
strategy.
117.
Learning organizations permit the entire organization to benefit from ____________ talents.
118.
Effective leaders set a direction and develop an organization so that it is committed to excellence and
___________ behavior.
119.
Strategies should be formulated that enhance foremost the ____________ capacity of a firm.
120.
The three participants in corporate governance are the shareholders,
121.
While working to prioritize and fulfill their responsibilities, members of the board of directors of an
organization should
122.
Members of boards of directors are
123.
An organization is responsible to many different entities. In order to meet the demands of these groups,
organizations must participate in stakeholder management. Stakeholder management means that
124.
Stakeholders are
125.
Procter and Gamble has perfected a technique for compacting cleaning powder into a liquid
concentration. Consumers, retailers, shipping and wholesalers, and environmentalists all have benefited
from the resulting change in consumer shopping habits and the revolution in industry supply-chain
economics. According to the text, this is an example of
126.
There are several perspectives of competition. One perspective is zero-sum thinking. Zero-sum thinking
means that
127.
Managers should do more than focus on short-term financial performance. One concept that helps
managers do this is stakeholder symbiosis. This means that
128.
Employee stakeholders are concerned with
