Northeastern University Exam 1 - STRT4501 Questions
With Complete Solutions
____ reinforce core competencies, while ____ allow managers
to orchestrate their core competencies correct answers
resources, capabilities
_____ is about coping with complexity. ____ is about coping
with change correct answers management, leadership
______ increases the likelihood that a firm will gain competitive
advantage. correct answers strategic fit
___-____ rivalry exceeds ___-____ rivalry correct answers
intra-group, inter-group
'by' statements correct answers missions
'to' statments correct answers visions
"controlling and problem solving" management or leadership?
correct answers management
"motivating and inspiring" management or leadership? correct
answers leadership
"planning" management or leadership? correct answers
management
"setting direction" management or leadership? correct answers
leadership
,a good strategy consists of three elements: correct answers 1. a
diagnosis of the competitive challenge (analysis)
2. a guiding policy to address the competitive challenge
(formulation)
3. a set of coherent actions to implement the firm's guiding
policy (implementation)
a positive relationship between vision statements and firm
performance is more likely to exist under these circumstances:
correct answers -the visions are customer-oriented
-internal stakeholders are invested in defining the vision
-organizational structures align with the vision (e.g.,
compensation systems)
a problem with the SWOT framework is that... correct answers
a strength can also be a weakness and an opportunity can also be
a threat
a sustainable position requires ____ . correct answers trade-offs
according to the CSR perspective, managers need to realize
correct answers society grants shareholders the right and
privilege to create a publicly traded stock company. therefore,
the firm owes something to society.
active waiting correct answers consists of anticipating,
preparing for, and seizing opportunities and dealing with threats
as they arise
, activities correct answers distinct and fine-grained business
processes that enable firms to add incremental value by
transforming inputs into goods and services
address stakeholder concerns key question correct answers what
should we do to effectively address any stakeholder concerns?
advantages independent of size examples (barriers to entry)
correct answers brand loyalty, proprietary technology,
preferential access to raw materials and distribution channels,
favorable geographic locations, cumulative learning and
experience effects
although the ______ view of a firm helps identify the integrated
set of resources and capabilities that are the building blocks of
core competencies, the ______ perspective enables managers to
see how competitive advantage flows from the firm's distinct set
of activities. correct answers resource-based, value chain
an effective vision: correct answers pervades the organization
with a sense of winning and motivates employees at all levels to
aim for the same target, while leaving room for individual and
team contributions
an organization's mission describes correct answers what the
organization actually does
autonomous actions correct answers strategic initiatives
undertaken by lower-level employees on their own volition and
often in response to unexpected situations
With Complete Solutions
____ reinforce core competencies, while ____ allow managers
to orchestrate their core competencies correct answers
resources, capabilities
_____ is about coping with complexity. ____ is about coping
with change correct answers management, leadership
______ increases the likelihood that a firm will gain competitive
advantage. correct answers strategic fit
___-____ rivalry exceeds ___-____ rivalry correct answers
intra-group, inter-group
'by' statements correct answers missions
'to' statments correct answers visions
"controlling and problem solving" management or leadership?
correct answers management
"motivating and inspiring" management or leadership? correct
answers leadership
"planning" management or leadership? correct answers
management
"setting direction" management or leadership? correct answers
leadership
,a good strategy consists of three elements: correct answers 1. a
diagnosis of the competitive challenge (analysis)
2. a guiding policy to address the competitive challenge
(formulation)
3. a set of coherent actions to implement the firm's guiding
policy (implementation)
a positive relationship between vision statements and firm
performance is more likely to exist under these circumstances:
correct answers -the visions are customer-oriented
-internal stakeholders are invested in defining the vision
-organizational structures align with the vision (e.g.,
compensation systems)
a problem with the SWOT framework is that... correct answers
a strength can also be a weakness and an opportunity can also be
a threat
a sustainable position requires ____ . correct answers trade-offs
according to the CSR perspective, managers need to realize
correct answers society grants shareholders the right and
privilege to create a publicly traded stock company. therefore,
the firm owes something to society.
active waiting correct answers consists of anticipating,
preparing for, and seizing opportunities and dealing with threats
as they arise
, activities correct answers distinct and fine-grained business
processes that enable firms to add incremental value by
transforming inputs into goods and services
address stakeholder concerns key question correct answers what
should we do to effectively address any stakeholder concerns?
advantages independent of size examples (barriers to entry)
correct answers brand loyalty, proprietary technology,
preferential access to raw materials and distribution channels,
favorable geographic locations, cumulative learning and
experience effects
although the ______ view of a firm helps identify the integrated
set of resources and capabilities that are the building blocks of
core competencies, the ______ perspective enables managers to
see how competitive advantage flows from the firm's distinct set
of activities. correct answers resource-based, value chain
an effective vision: correct answers pervades the organization
with a sense of winning and motivates employees at all levels to
aim for the same target, while leaving room for individual and
team contributions
an organization's mission describes correct answers what the
organization actually does
autonomous actions correct answers strategic initiatives
undertaken by lower-level employees on their own volition and
often in response to unexpected situations
