MGT 4380 TEST 1 QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+
romantic view of leadership Ans✓✓✓situation where the leader is the
key source determining the organizations success - or lack thereof
external control view of leadership Ans✓✓✓situations in which external
forces - where the leader has limited influence- determine the
organization's success
strategic management Ans✓✓✓the analyses, decisions, and actions an
organization undertakes in order to create and sustain competitive
advantages
strategy Ans✓✓✓the ideas, decisions, and actions that enable a firm to
succeed
competitive advantage Ans✓✓✓a firm's resources and capabilities that
enable it to overcome the competitive forces in its industry(ies)
operational effectiveness Ans✓✓✓performing similar activities better
than rivals
stakeholders Ans✓✓✓individuals, groups, and organizations who have a
stake in the success of the organization, including owners (shareholders
in a publicly held corporation), employees, customers, suppliers, and the
community at large
, effectiveness Ans✓✓✓tailoring actions to the needs of an organization
rather than wasting effort, or "doing the right thing"
efficiency Ans✓✓✓performing actions at a low cost relative to a
benchmark, or "doing things right"
ambidexterity Ans✓✓✓the challenge managers face of both aligning
resources to take advantages of existing product markets as well as
proactively exploring new opportunities
strategic management process Ans✓✓✓strategy analysis, strategy
formulation, and strategy implementation
intended strategy Ans✓✓✓strategy in which organizational decisions
are determined only by analysis
realized strategy Ans✓✓✓strategy in which organizational decisions are
determined by both analysis and unforeseen environmental
developments, unanticipated resource constraints, and/or changes in
managerial preferences
strategy analysis Ans✓✓✓study of firms' external and internal
environments, and their fit with organizational vision and goals
ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+
romantic view of leadership Ans✓✓✓situation where the leader is the
key source determining the organizations success - or lack thereof
external control view of leadership Ans✓✓✓situations in which external
forces - where the leader has limited influence- determine the
organization's success
strategic management Ans✓✓✓the analyses, decisions, and actions an
organization undertakes in order to create and sustain competitive
advantages
strategy Ans✓✓✓the ideas, decisions, and actions that enable a firm to
succeed
competitive advantage Ans✓✓✓a firm's resources and capabilities that
enable it to overcome the competitive forces in its industry(ies)
operational effectiveness Ans✓✓✓performing similar activities better
than rivals
stakeholders Ans✓✓✓individuals, groups, and organizations who have a
stake in the success of the organization, including owners (shareholders
in a publicly held corporation), employees, customers, suppliers, and the
community at large
, effectiveness Ans✓✓✓tailoring actions to the needs of an organization
rather than wasting effort, or "doing the right thing"
efficiency Ans✓✓✓performing actions at a low cost relative to a
benchmark, or "doing things right"
ambidexterity Ans✓✓✓the challenge managers face of both aligning
resources to take advantages of existing product markets as well as
proactively exploring new opportunities
strategic management process Ans✓✓✓strategy analysis, strategy
formulation, and strategy implementation
intended strategy Ans✓✓✓strategy in which organizational decisions
are determined only by analysis
realized strategy Ans✓✓✓strategy in which organizational decisions are
determined by both analysis and unforeseen environmental
developments, unanticipated resource constraints, and/or changes in
managerial preferences
strategy analysis Ans✓✓✓study of firms' external and internal
environments, and their fit with organizational vision and goals
