MANA 4322 CHAPTER 1 EXAM
QUESTIONS WITH 100% CORRECT
ANSWERS
The text addresses two perspectives of leadership as well as their implications. These
two perspectives are - Answer- romantic and external control
A CEO made a lot of mistakes such as committing errors in assessing the market and
competitive conditions and improperly redesigning the organization into numerous
business units. Such errors led to significant performance declines. This illustrates the
__________ perspective of leadership - Answer- romantic
According to the text, the strategic management process entails three ongoing
processes: - Answer- analyses, decisions, and actions
Management innovations such as total quality, benchmarking, and business process
reengineering cannot lead to sustainable competitive advantage because - Answer-
every company is trying to implement them
The "organizational versus individual rationality" perspective suggests that - Answer-
what is best for a functional area may not be best for the organization
Strategy is all about being ____________ - Answer- different
The four key attributes of strategic management include the idea that - Answer- strategy
must be directed toward overall organizational goals and objectives
Strategic management is directed toward ____________ organizational goals and
objectives - Answer- overall
Social responsibility is the idea that organizations are not only accountable to
stockholders but also to the community-at-large - Answer- T
The concept of "shared value" redefines the purpose of the corporation as creating
shared value in order to create a more even distribution of the profits to all employees,
not just top level executives - Answer- F
, ________ _______ can be defined as policies and operating practices that enhance the
competitiveness off a company while simultaneously advancing the economic and
social conditions in which it operates - Answer- Shared value
________ __________ is about expanding the total pool of economic and social value -
Answer- Shared value
Nortel, like other firms, suffered from a drop in overall industry demand for
telecommunications equipment during 2000 and 2001. According to the text, this would
be an example of the "romantic" perspective of leadership - Answer- F
Our goal is to help save 100,000 more lives each year (Varian Medical Systems) This is
an example of a - Answer- nonfinancial strategic objective
In the __________ view of leadership, the implicit assumption is that the leader is the
key force in determining an organization's success or lack thereof - Answer- romantic
___________ management consists of the analyses, decisions, and actions an
organization undertakes in order to create and sustain competitive advantages -
Answer- strategic
Sustainable competitive advantage cannot be achieved through _____________
_____________ alone - Answer- operational effectiveness
Management innovations such as total quality, bechmarking, and business process
reengineering often lead to sustainable competitive advantage - Answer- F
Strategic management recognizes the trade-offs between effectiveness and efficiency -
Answer- T
The best firm always realize their intended strategy - Answer- F
The intended strategy ____________ survives in its original form - Answer- rarely
According to the text, formulating strategy includes taking into consideration strategy at
the business, international, and corporate levels. In addition managers must formulate
effective entrepreneurial initiatives - Answer- T
____________-level strategy focuses on two issues:
1: what businesses to compete in, and
2: how businesses can be managed to achieve synergy - Answer- Corporate
________-level strategy addresses how firms compete and outperform their rivals as
well as achieve and sustain competitive advantages - Answer- Business
QUESTIONS WITH 100% CORRECT
ANSWERS
The text addresses two perspectives of leadership as well as their implications. These
two perspectives are - Answer- romantic and external control
A CEO made a lot of mistakes such as committing errors in assessing the market and
competitive conditions and improperly redesigning the organization into numerous
business units. Such errors led to significant performance declines. This illustrates the
__________ perspective of leadership - Answer- romantic
According to the text, the strategic management process entails three ongoing
processes: - Answer- analyses, decisions, and actions
Management innovations such as total quality, benchmarking, and business process
reengineering cannot lead to sustainable competitive advantage because - Answer-
every company is trying to implement them
The "organizational versus individual rationality" perspective suggests that - Answer-
what is best for a functional area may not be best for the organization
Strategy is all about being ____________ - Answer- different
The four key attributes of strategic management include the idea that - Answer- strategy
must be directed toward overall organizational goals and objectives
Strategic management is directed toward ____________ organizational goals and
objectives - Answer- overall
Social responsibility is the idea that organizations are not only accountable to
stockholders but also to the community-at-large - Answer- T
The concept of "shared value" redefines the purpose of the corporation as creating
shared value in order to create a more even distribution of the profits to all employees,
not just top level executives - Answer- F
, ________ _______ can be defined as policies and operating practices that enhance the
competitiveness off a company while simultaneously advancing the economic and
social conditions in which it operates - Answer- Shared value
________ __________ is about expanding the total pool of economic and social value -
Answer- Shared value
Nortel, like other firms, suffered from a drop in overall industry demand for
telecommunications equipment during 2000 and 2001. According to the text, this would
be an example of the "romantic" perspective of leadership - Answer- F
Our goal is to help save 100,000 more lives each year (Varian Medical Systems) This is
an example of a - Answer- nonfinancial strategic objective
In the __________ view of leadership, the implicit assumption is that the leader is the
key force in determining an organization's success or lack thereof - Answer- romantic
___________ management consists of the analyses, decisions, and actions an
organization undertakes in order to create and sustain competitive advantages -
Answer- strategic
Sustainable competitive advantage cannot be achieved through _____________
_____________ alone - Answer- operational effectiveness
Management innovations such as total quality, bechmarking, and business process
reengineering often lead to sustainable competitive advantage - Answer- F
Strategic management recognizes the trade-offs between effectiveness and efficiency -
Answer- T
The best firm always realize their intended strategy - Answer- F
The intended strategy ____________ survives in its original form - Answer- rarely
According to the text, formulating strategy includes taking into consideration strategy at
the business, international, and corporate levels. In addition managers must formulate
effective entrepreneurial initiatives - Answer- T
____________-level strategy focuses on two issues:
1: what businesses to compete in, and
2: how businesses can be managed to achieve synergy - Answer- Corporate
________-level strategy addresses how firms compete and outperform their rivals as
well as achieve and sustain competitive advantages - Answer- Business
