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Strategic Mgmt EXAM QUESTIONS WITH
COMPLETE SOLUTIONS
Deming's PDSA cycle is a practical life and work method that
enables us to use a form of the scientific method to drive our
learning and improvement, both personally and professionally. It
incorporates the deductive-inductive interplay necessary for
learning, as required in the scientific method. As you iteratively
cycle through PDSA on an area of personal or professional focus,
you learn; that is, you gain knowledge and you improve in a
specific manner under certain conditions. But further, as you build
your knowledge, a thoughtful and careful use of PDSA will enable
you to be able to predict whether a given "change" will result in
real "improvement" under different conditions that you may face
in the future.— Ans: True
Each of the Five P's of strategy --- plan, ploy, pattern, position, and
perspective --- that is, each of these five ways of thinking about
strategy is necessary for understanding what strategy is, but none
of them alone is sufficient to master the concept.— Ans: True
From the Aristotelian logic of ancient times, through the middle
ages and early renaissance, the nature of scientific thinking and
learning was largely rational and deductive, like mathematics,
namely, we learned new truths by logical deduction from a priori
or self-evident first premises. Beginning with Francis Bacon (1620),
a new development in scientific thinking occurred. Bacon believed
that learning and knowledge creation ...— Ans: a) should be
methodical, i.e., follow a planned structure or procedure
b) should proceed through inductive reasoning, i.e., from
observations of experience to axiom to law
c) should involve an interplay between deductive (rationalism) and
inductive (empiricism) logic
d) All of the above
The terms intellectual capital and intangible assets are synonyms
of one another.— Ans: True
© 2025 All rights reserved
, 2 | Page
Strategic plans and business models are not the same thing. A
firm's strategic plan should include its business model, which can
be defined as
___________________________________________________.— Ans: a
description of the process through which a firm hopes to earn
profits.
The Five P's are strategy as plan, ploy, position, pattern, and
perspective. These are competing schools of thought about
effective strategic management. Carefully examined, they are
logically exclusive of one another, rather than interdependent. As
the book proceeds, it will develop the case for strategy as the right
perspective that leads to success.— Ans: False
David Garvin of Harvard Business School argues that real learning
does not truly occur, whether we are speaking of individuals or
organizations, unless they acquire reliable information, separate
the "signals" from the "noise," and then interpret the relevance and
usefulness of that information in practice. If we exercise the
necessary methodologies and disciplines to do this, we learn.
Otherwise, we delude ourselves into thinking that our knowledge
has increased.— Ans: False
Systems thinking tends to emphasize the nature of mind and time
& sees the self-referential place of the knower in knowing. This is
why it is so important to cultivate the skill of systems thinking for
those who wish to lead and manage people in organizations'
strategic journey from the past, through the present, and into the
future.— Ans: False
Understanding organizations as systems, we realize that as
individuals we are often unaware of our mental models. We need
one another to surface, evaluate, and improve our internal pictures
of how the world works. Team learning is one of the disciplines of
the learning organization that enables us to do this. The key tools
for team learning are discussion and dialogue, which constitute a
social system feedback mechanism. We should emphasize the use
of these tools, instead of the growing number of dashboards and
MIS reporting devices sprouting up in many organizations today,
which inescapably are tools of top-down, command-and-control
management systems.— Ans: False
© 2025 All rights reserved
Strategic Mgmt EXAM QUESTIONS WITH
COMPLETE SOLUTIONS
Deming's PDSA cycle is a practical life and work method that
enables us to use a form of the scientific method to drive our
learning and improvement, both personally and professionally. It
incorporates the deductive-inductive interplay necessary for
learning, as required in the scientific method. As you iteratively
cycle through PDSA on an area of personal or professional focus,
you learn; that is, you gain knowledge and you improve in a
specific manner under certain conditions. But further, as you build
your knowledge, a thoughtful and careful use of PDSA will enable
you to be able to predict whether a given "change" will result in
real "improvement" under different conditions that you may face
in the future.— Ans: True
Each of the Five P's of strategy --- plan, ploy, pattern, position, and
perspective --- that is, each of these five ways of thinking about
strategy is necessary for understanding what strategy is, but none
of them alone is sufficient to master the concept.— Ans: True
From the Aristotelian logic of ancient times, through the middle
ages and early renaissance, the nature of scientific thinking and
learning was largely rational and deductive, like mathematics,
namely, we learned new truths by logical deduction from a priori
or self-evident first premises. Beginning with Francis Bacon (1620),
a new development in scientific thinking occurred. Bacon believed
that learning and knowledge creation ...— Ans: a) should be
methodical, i.e., follow a planned structure or procedure
b) should proceed through inductive reasoning, i.e., from
observations of experience to axiom to law
c) should involve an interplay between deductive (rationalism) and
inductive (empiricism) logic
d) All of the above
The terms intellectual capital and intangible assets are synonyms
of one another.— Ans: True
© 2025 All rights reserved
, 2 | Page
Strategic plans and business models are not the same thing. A
firm's strategic plan should include its business model, which can
be defined as
___________________________________________________.— Ans: a
description of the process through which a firm hopes to earn
profits.
The Five P's are strategy as plan, ploy, position, pattern, and
perspective. These are competing schools of thought about
effective strategic management. Carefully examined, they are
logically exclusive of one another, rather than interdependent. As
the book proceeds, it will develop the case for strategy as the right
perspective that leads to success.— Ans: False
David Garvin of Harvard Business School argues that real learning
does not truly occur, whether we are speaking of individuals or
organizations, unless they acquire reliable information, separate
the "signals" from the "noise," and then interpret the relevance and
usefulness of that information in practice. If we exercise the
necessary methodologies and disciplines to do this, we learn.
Otherwise, we delude ourselves into thinking that our knowledge
has increased.— Ans: False
Systems thinking tends to emphasize the nature of mind and time
& sees the self-referential place of the knower in knowing. This is
why it is so important to cultivate the skill of systems thinking for
those who wish to lead and manage people in organizations'
strategic journey from the past, through the present, and into the
future.— Ans: False
Understanding organizations as systems, we realize that as
individuals we are often unaware of our mental models. We need
one another to surface, evaluate, and improve our internal pictures
of how the world works. Team learning is one of the disciplines of
the learning organization that enables us to do this. The key tools
for team learning are discussion and dialogue, which constitute a
social system feedback mechanism. We should emphasize the use
of these tools, instead of the growing number of dashboards and
MIS reporting devices sprouting up in many organizations today,
which inescapably are tools of top-down, command-and-control
management systems.— Ans: False
© 2025 All rights reserved
