WPC 480 Cha 1-7 Exam Questions With 100% Correct Answers.

WPC 480 Cha 1-7 Exam Questions With 100% Correct Answers. Relative power is the most critical element for prioritizing the demands of stakeholders. - answerTrue Above average returns are those in excess of what an investor expects to earn from other investments with similar stock prices. - answerTrue Hourly workers on the production line of a chicken-processing plant are considered organizational stakeholders. - answerTrue An effective vision statement must specify the industry in which a company will operate - answerfalse The rate of technology diffusion has been steadily increasing over the last two decades - answerTrue Returns can only be measured in accounting terms such as return on assets, return on equity, or return on sales. - answerFalse Strategic leaders must have a strong strategic orientation while embracing change in the dynamic competitive landscape. - answerTrue A firm's mission tends to be enduring while its vision can change in light of changing environmental conditions. - answerfalse In the resource-based model, which of the following factors would be considered a key to organizational success? - answerskilled employees All of the following are resources of an organization EXCEPT: - answerweek competitors in the industry SWOT stands for - answerStrengths, weaknesses, opportunities, and threats The industrial organization (I/O) model argues that: - answerthe key factor in success is choosing the correct industry in which to compete. Successful strategic leaders are: - answerdecisive. committed to nurturing those around them. committed to helping the firm to create value for all stakeholder groups. In a diversified firm, corporate-level strategy is concerned with: - answerdetermining in which businesses to compete and how resources will be allocated between businesses. The Princeton Alliance Church states in its website that "PAC exists to help you live life to the fullest by knowing God, developing community and bringing hope." This pronouncement is most precisely a statement of organizational: - answervision The global economy, globalization, rapid technological change, and the increasing importance of knowledge are creating the need to: - answerdelegate strategic responsibilities to employees "closer to the action." The I/O model is grounded in: - answereconomies Product market stakeholders include the firm's customers, and the principal concern of this stakeholder group is: - answerobtaining reliable products at the lowest possible price. Organizational culture is a complex set of ideologies, symbols, and core values that are shared throughout the firm, but its development is so subtle and poorly understood that top managers cannot influence its content. - answerFALSE Rewarding those who use proper channels and procedures to report observed wrongdoings is an example of an action that should be taken by a strategic leader to develop an ethical organizational culture. - answerTRUE The decision-making discretion of top-level managers is determined partly by external environmental factors such as the industry structure, the industry's rate of growth, and the degree to which products can be differentiated. - answerTRUE Employees usually have a strong preference for firms to use the internal managerial labor market when selecting top management team members and the CEO. - answerTRUE In the past, companies had a preference for insiders to fill top-level management positions because of the desire for continuity and a continuing commitment to the firm's current vision, mission, and chosen strategies. - answerTRUE Members with substantive expertise in the firm's core functions and businesses aid the effectiveness of the top management team. - answerTRUE Transformational leadership is the most effective strategic leadership style. - answerTRUE The training of future strategic leaders yields a competitive advantage for a firm, in part because knowledge and skills are necessary for successful execution of strategy. - answerTRUE An emphasis on strategic controls encourages managers to be risk averse. - answerFALSE The CEO of YorkMark, Inc., has an exceptional amount of power in the organization. It is likely the Board of Directors is composed of sympathetic outside members and insiders who report to the CEO. - answerTRUE Human capital refers to - answerknowledge and skills of the firm's work force. Competitive aggressiveness describes a firm's: - answerpropensity to take actions that allow it to outperform rivals consistently and substantially. Billy Kroghmen is the son of a very prominent Fortune 500 CEO. Billy has had troubles. He failed out of multiple colleges, universities, and correspondence schools. He finally received his undergraduate degree from a university with only a post office box for an address. He then enrolled in the school's combined graduate accounting and law school programs, graduating with honor with degrees in both areas. After graduation, he twice failed both the CPA and bar exams, managing to set record low scores on the ethics portions of both. Despite these academic setbacks, Billy's career now seems to be thriving. He has been appointed to a number of "blue ribbon" government committees, is on the Board of Directors of two corporations and one prestigious not-for-profit organization. In at least one instance, a donor credited Billy with the idea for making a large contribution to the not-for-profit. Widespread speculation is tha - answerhigh; social; low; human The most effective leadership style is ____ leadership. - answertransformational Actions that effective strategic leaders can take to develop an ethical organizational culture include all of the following EXCEPT: - answerrelying on the fundamental goodness of individuals. The Enron employee who reported the financial manipulations at the company to her superiors can be considered to have engaged in: - answeran act of courage ____ capital increases cooperation among individuals inside and outside the firm. - answersocial Which of the following is NOT a benefit to the firm using the internal labor market to select a new CEO? - answerInternal hiring results in an increased level of innovation. Two key strategic leadership actions include: - answerdetermining strategic direction and establishing balanced organizational controls. The ____ is a framework firms can use to verify that they have established both strategic and financial controls to assess their performance. - answerbalanced scorecard