MGT 401 EXAM 1 UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS
Question:
1. Where did strategic planning begin
Answer:
military
Question:
2. who most influenced strategic planning
Answer:
peter drucker
Question:
3. What did peter drucker say about Strategy
Answer:
organizations need to make strategic decisions based on organizational interdependencies
Question:
4. Strategic management process
Answer:
knowledge, creativity, relationships, leadership, risk taking, research, analysis, presentation and writing as
well as selling
Question:
5. What is a big trend in strategic management
Answer:
Hiring a CSO - chief strategy officer
Question:
6. Why did Mcdonalds hire a CSO
Answer:
Portfolio increase - diversification, acquisitions increase, alliances increase, size of company increase,
interdependence of top mgmt increase
Question:
7. Strategic Initiative requires 4 things
Answer:
what we are, who will lead the effort, scope of where we are targeting, and goal of the strategy
Question:
8. Analysis starts with what two frameworks
Answer:
AFI and SWOT
, Question:
9. AFI
Answer:
Analyze, Formulate, Implement
Question:
10. SWOT
Answer:
strengths, weaknesses, opportunities, threats
Question:
11. When setting strategic direction always consider what?
Answer:
the influencing variables on the organization especially the lessons learned from failures
Question:
12. As organizations identify leadership teams (including management teams) to lead the strategic effort
what should organizations do?
Answer:
they must always consider the constitution of their client base and mirror that assemble of key stakeholders
with their own key leadership selections
Question:
13. 4 things to look at when choosing strategic leadership
Answer:
1. IQ/EQ (situation driven)
2. Participative or directive (situational traits) 3. Heterogeneous or Homogeneous (MGT team), 4.
Corporate Governance (makes all major decisions)
Question:
14. what does organizational identity have to be understood by?
Answer:
External and internal stakeholders
Question:
15. 3 bottom line goals of stakeholder stratgey
Answer:
sustainable CA, Employee engagement, and customer satisfaction
Question:
16. Daniel Goleman 5 attributes of successful leadership
Answer:
self awareness, self regulation, motivation, empathy, and social skills
Question:
17. 3 internal areas
CORRECT ANSWERS
Question:
1. Where did strategic planning begin
Answer:
military
Question:
2. who most influenced strategic planning
Answer:
peter drucker
Question:
3. What did peter drucker say about Strategy
Answer:
organizations need to make strategic decisions based on organizational interdependencies
Question:
4. Strategic management process
Answer:
knowledge, creativity, relationships, leadership, risk taking, research, analysis, presentation and writing as
well as selling
Question:
5. What is a big trend in strategic management
Answer:
Hiring a CSO - chief strategy officer
Question:
6. Why did Mcdonalds hire a CSO
Answer:
Portfolio increase - diversification, acquisitions increase, alliances increase, size of company increase,
interdependence of top mgmt increase
Question:
7. Strategic Initiative requires 4 things
Answer:
what we are, who will lead the effort, scope of where we are targeting, and goal of the strategy
Question:
8. Analysis starts with what two frameworks
Answer:
AFI and SWOT
, Question:
9. AFI
Answer:
Analyze, Formulate, Implement
Question:
10. SWOT
Answer:
strengths, weaknesses, opportunities, threats
Question:
11. When setting strategic direction always consider what?
Answer:
the influencing variables on the organization especially the lessons learned from failures
Question:
12. As organizations identify leadership teams (including management teams) to lead the strategic effort
what should organizations do?
Answer:
they must always consider the constitution of their client base and mirror that assemble of key stakeholders
with their own key leadership selections
Question:
13. 4 things to look at when choosing strategic leadership
Answer:
1. IQ/EQ (situation driven)
2. Participative or directive (situational traits) 3. Heterogeneous or Homogeneous (MGT team), 4.
Corporate Governance (makes all major decisions)
Question:
14. what does organizational identity have to be understood by?
Answer:
External and internal stakeholders
Question:
15. 3 bottom line goals of stakeholder stratgey
Answer:
sustainable CA, Employee engagement, and customer satisfaction
Question:
16. Daniel Goleman 5 attributes of successful leadership
Answer:
self awareness, self regulation, motivation, empathy, and social skills
Question:
17. 3 internal areas
