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Chapter 02 Strategic Leadership: Managing the Strategy Process
Answer Key
Multiple Choice Questions
1.
The Chief Executive Officer (CEO) of Yahoo, Marissa Mayer, maintains that if a company
builds the best product possible, profits will come. Identify the phrase that represents the
new vision she developed for Yahoo.
2.
The Chief Executive Officer (CEO) of Yahoo, Marissa Mayer, established a mission by
building on her vision. Considering this, how did Mayer implement the mission of Yahoo?
3.
The first step in the strategic management process is to
4.
Strategic leadership pertains to the use of power and influence by _____ to direct the
activities of others when pursuing an organization's goals.
5.
Free Winds, Inc. is a company that manufactures a variety of generators that run on wind
power. The company wants to ensure that wind technology replaces all forms of
exhaustible energy sources in the near future. Which of the following statements will make
an accurate vision for Free Winds?
6.
True Help is a nonprofit organization that works toward rehabilitating the homeless. The
credo of the organization is "help us help you." For an organization like True Help, which of
the following statements would make an appropriate mission?
7.
Strategic commitments are actions that are
8.
Visionary companies are able to outperform their competitors because
9.
To be effective, firms need to
10.
What is the strategic management process?
11.
What is strategic leadership?
12.
Strategic commitments are actions that are
13.
Which of the following examples reflects the strongest vision?
14.
Which of the following summarizes the difference between a firm's vision and mission?
15.
Which of the following is an example of a product-oriented vision statement?
16.
A customer-oriented vision statement focuses employees to think about how best to
17.
Why is it better for firms to keep their vision statements customer-oriented rather than
product-oriented?
18.
Customer-oriented visions do
not
19.
Which of the following statements about product-oriented visions is true?
20.
Handy Pro, Inc. is a company that manufactures electric tools like drills, screwdrivers, and
saws. Which of the following best illustrates a product-oriented vision for Handy Pro?
21.
Which of the following statements is true of customer-oriented visions?
22.
Which of the following is a customer-oriented vision?
23.
Pioneer Pharma Inc. and GH Medicines Corp. are two competing firms in the
pharmaceutical industry. While Pioneer Pharma Inc.'s vision is "to be a preeminent drug
manufacturer in the industry," GH Medicines Corp.'s vision is "to make good health a
reality for everyone around the world." Which of the following is an implication of these
different visions?
24.
A positive relationship between vision statements and firm performance is more likely to
exist when
25.
Which of the following is an example of an organizational value?
26.
How do strong ethical values benefit a firm?
27.
The management of Wong Industries showed a commitment to ______ by increasing the
salary of many female employees to meet its goal of having equal pay for women and men
who perform comparable work.
28.
_____ are best described as the ethical standards and norms that govern the behavior of
individuals within a firm.
29.
Organizational values are the _____ that govern the behavior of individuals within a firm or
organization.
30.
When do employees fail to adopt the organizational values of a firm?
31.
Organizational values help individuals make choices that are
32.
Executives whose vision and actions enable their organizations to achieve competitive
advantage demonstrate
33.
The CEO of Juliet Computers was the child of parents who had difficulty making enough
money to support their family. As a result, he and his siblings did not have access to many
advantages that children from wealthier families had. This CEO, therefore, emphasized
making affordable computers that could be bought by low-income households. Which of
the following does this example demonstrate?
34.
Which of the following is an accurate description of a Level 1 manager?
35.
As the CEO of a conglomerate, Juana Mark exhibited her strong commitment toward the
company's core value that customers' well-being is more important than profit when she
decided to liquidate the company's tobacco subsidiary. The tobacco brand sold by her
company was a major revenue earner in lesser-developed nations. However, Juana
believed that her company had to be responsible toward society. In this scenario, Juana
has demonstrated
