Dr. Bizzi MGMT 449, Exam #1 || Questions and Correct Detailed
Answers.
romantic view of leadership correct answers situations in which the leader is the key force
determining the organization's success - or lack thereof
external control view of leadership correct answers situations in which external forces - where
the leader has limited influence - determine the organization's success
strategy correct answers the ideas, decisions, and actions that enable a firm to succeed
Four Key Attributes of Strategic Management correct answers 1. directed toward overall
organizational goals & objectives
2. includes multiple stakeholders in decision making
3. requires incorporating both short-term & long-term perspectives
4. involves the recognition of trade-offs between effectiveness and efficiency
Intended Strategy correct answers strategy in which organizational decisions are determined only
by analysis
Realized Strategy correct answers strategy in which organizational decisions are determined by
both analysis and unforeseen environmental developments, unanticipated resource constraints,
and/or changes in managerial preferences
Strategic Management Process correct answers strategy analysis, strategy formulation, and
strategy implementation
Strategy Analysis correct answers study of firms' external and internal environments, and their fit
with organizational vision and goals
, strategy formulation correct answers decisions made by firms regarding investments,
commitments, and other aspects of operations that create and sustain competitive advantage
Strategy implementation correct answers actions made by firms that carry out the formulated
strategy, including strategic controls, organizational design, and leadership
Stakeholders correct answers the individuals, groups, and organizations that can affect the firm's
vision and mission, are affected by the strategic outcomes achieved, and have enforceable claims
on the firm's performance
Stakeholder Management correct answers a firm's strategy for recognizing and responding to the
interests of all its salient stakeholders
zero-sum game correct answers stakeholders compete with each other
Symbiosis correct answers stakeholders depend upon each other
vision correct answers organizational goal(s) that evoke(s) powerful and compelling mental
images
mission correct answers Set of organizational goals that include both the purpose of the
organization, its scope of operations, and the basis of its competitive advantage
Cash Ratio correct answers Cash / Current Liabilities
Profit margin (ROS) correct answers Net Income/Sales
Return on Assets (ROA) correct answers Net Income/Total Assets
Answers.
romantic view of leadership correct answers situations in which the leader is the key force
determining the organization's success - or lack thereof
external control view of leadership correct answers situations in which external forces - where
the leader has limited influence - determine the organization's success
strategy correct answers the ideas, decisions, and actions that enable a firm to succeed
Four Key Attributes of Strategic Management correct answers 1. directed toward overall
organizational goals & objectives
2. includes multiple stakeholders in decision making
3. requires incorporating both short-term & long-term perspectives
4. involves the recognition of trade-offs between effectiveness and efficiency
Intended Strategy correct answers strategy in which organizational decisions are determined only
by analysis
Realized Strategy correct answers strategy in which organizational decisions are determined by
both analysis and unforeseen environmental developments, unanticipated resource constraints,
and/or changes in managerial preferences
Strategic Management Process correct answers strategy analysis, strategy formulation, and
strategy implementation
Strategy Analysis correct answers study of firms' external and internal environments, and their fit
with organizational vision and goals
, strategy formulation correct answers decisions made by firms regarding investments,
commitments, and other aspects of operations that create and sustain competitive advantage
Strategy implementation correct answers actions made by firms that carry out the formulated
strategy, including strategic controls, organizational design, and leadership
Stakeholders correct answers the individuals, groups, and organizations that can affect the firm's
vision and mission, are affected by the strategic outcomes achieved, and have enforceable claims
on the firm's performance
Stakeholder Management correct answers a firm's strategy for recognizing and responding to the
interests of all its salient stakeholders
zero-sum game correct answers stakeholders compete with each other
Symbiosis correct answers stakeholders depend upon each other
vision correct answers organizational goal(s) that evoke(s) powerful and compelling mental
images
mission correct answers Set of organizational goals that include both the purpose of the
organization, its scope of operations, and the basis of its competitive advantage
Cash Ratio correct answers Cash / Current Liabilities
Profit margin (ROS) correct answers Net Income/Sales
Return on Assets (ROA) correct answers Net Income/Total Assets
