STRATEGIC MANAGEMENT AND BUSINESS
POLICY GLOBALIZATION EXAM PREP
QUESTIONS AND ANSWERS FULL
SOLUTION
●● The global economy, globalization, rapid technological change, and
the increasing importance of knowledge are creating the need to
Answer: delegate strategic responsibilities to employees "closer to the
action."
●● When resources and capabilities serve as a source of competitive
advantage for a firm, the firm has created a(n)
Answer: core competence.
●● The I/O model is grounded in
Answer: economics
●● A ______ is an integrated and coordinated set of commitments and
actions designed to exploit core competencies and gain a competitive
advantage.
Answer: strategy
●● New markets created by iPods, PDAs, and Wi-Fi are a result of
, Answer: disruptive technologies
●● If Southwest Airlines is considering the consequences of
videoconferencing on business travel, it is in the profit pool analysis step
known as
Answer: defining the pool's boundaries
●● Analysis of the industry's profit pool enables strategic managers to
Answer: locate the most promising areas of an industry's value chain.
●● Product market stakeholders include
Answer: suppliers
●● A firm's mission
Answer: is a statement of a firm's business in which it intends to
compete and the customers it intends to serve.
●● It is important to emphasize that, primarily because they are related
to how a firm interacts with its stakeholders, almost all strategic
management process decisions have
Answer: ethical dimensions
●● Strategic leaders, ______, often work long hours, and their work is
filled with ambiguous decision situations.
POLICY GLOBALIZATION EXAM PREP
QUESTIONS AND ANSWERS FULL
SOLUTION
●● The global economy, globalization, rapid technological change, and
the increasing importance of knowledge are creating the need to
Answer: delegate strategic responsibilities to employees "closer to the
action."
●● When resources and capabilities serve as a source of competitive
advantage for a firm, the firm has created a(n)
Answer: core competence.
●● The I/O model is grounded in
Answer: economics
●● A ______ is an integrated and coordinated set of commitments and
actions designed to exploit core competencies and gain a competitive
advantage.
Answer: strategy
●● New markets created by iPods, PDAs, and Wi-Fi are a result of
, Answer: disruptive technologies
●● If Southwest Airlines is considering the consequences of
videoconferencing on business travel, it is in the profit pool analysis step
known as
Answer: defining the pool's boundaries
●● Analysis of the industry's profit pool enables strategic managers to
Answer: locate the most promising areas of an industry's value chain.
●● Product market stakeholders include
Answer: suppliers
●● A firm's mission
Answer: is a statement of a firm's business in which it intends to
compete and the customers it intends to serve.
●● It is important to emphasize that, primarily because they are related
to how a firm interacts with its stakeholders, almost all strategic
management process decisions have
Answer: ethical dimensions
●● Strategic leaders, ______, often work long hours, and their work is
filled with ambiguous decision situations.
