2024 Certification for Capstone Final Exam Q&

2024 Certification for Capstone Final Exam Q&A In a survey of 50 corporations, which of the following was rated highly as a benefit of strategic management? - CORRECT ANSWER-Clearer sense of strategic vision for the firm Strategic decisions, such as the ones made by the Genentech CEO in setting a new direction for his company, are characterized by being: - CORRECT ANSWER-Rare, consequential and directive Business strategy can be best described as: - CORRECT ANSWER-A master plan for achieving business objectives and goals. The essence of strategy formulation includes: - CORRECT ANSWER-Mission, objectives, strategies and policies The basic elements of the strategic management model include: - CORRECT ANSWER-Environmental scanning, Strategy formulation, Strategy Implementation and Evaluation and Control In the Wells Fargo sales scandal discussed in class the key issue revolved around - CORRECT ANSWER-Ethical lapses that encouraged aggressive sales tactics and excessive fees In the JC Penny example what was main issue that lead to the CEO, Ron Johnson, being fired by the board after only 18 months on the job. - CORRECT ANSWERCompany performance did not meet board expectations The greatest concern in having a dual position of Chairman of the Board & CEO is - CORRECT ANSWER-Potential for conflict of interest and concentration of power in a single individual A commonly cited reason why executives 'bend' the rules is - CORRECT ANSWEROrganizational pressures Which of the following is an important trend in corporate governance? - CORRECT ANSWER-The Board taking a more active role in shaping the company's strategic direction Society generally expects firms to work with employees to plan for layoffs. This is an example of which of Carroll's responsibilities? - CORRECT ANSWER-Ethical Business ethics is defined as - CORRECT ANSWER-Accepted standards of behavior for an occupation, trade or profession The concept that proposes corporations have responsibilities