WPC 480 Chapter 12 Exam With Complete Solutions
Strategic leadership
is the ability to anticipate,
envision, maintain flexibility, and empower
others to create strategic change as necessary
Strategic change
is change brought about as a
result of selecting and implementing a firm's
strategies
heterogeneous top management team
is
composed of individuals with different functional
backgrounds, experience, and education.
external managerial labor market
is the
collection of managerial career opportunities
and the qualified people who are external to the
organization in which the opportunities exist.
internal managerial labor market
consists
of a firm's opportunities for managerial positions
and the qualified employees within that firm.
top management team
is composed of the
individuals who are responsible for making
certain the firm uses the strategic management
process, especially for the purpose of selecting
and implementing strategies.
Determining strategic direction
involves
specifying the vision and the strategy or
strategies to achieve this vision over time.
Human capital
refers to the knowledge and
skills of a firm's entire workforce. From the
perspective of human capital, employees are
viewed as a capital resource requiring
continuous investment.
Social capital
involves relationships inside and
, outside the firm that help in efforts to accomplish
tasks and create value for stakeholders.
balanced scorecard
is a tool firms use to
determine if they are achieving an appropriate
balance when using strategic and financial
controls as a means of positively influencing
performance.
What term encompasses the ability to anticipate, envision, maintain flexibility, and empower others
to create strategic change as necessary?
Strategic leadership
A CEO wants to implement a new strategy for her firm. Previously, the company's strategy was
differentiation and focused on having the highest quality product. Now, instead of increasing the
quality of the product, she wants to maintain quality but drive down cost per unit. What term defines
this scenario?
Strategic change
Which of these is not an example of a strategic leader?
High performing sales associate
Lisa is the CEO of her company and has a distinct leadership style. She doesn't want her employees to
be afraid to take an action they know is right. She wants her subordinates to be able to take matters
into their own hands, so she delegates many things to empower them. She has built a team culture in
which the team and the company are more important than personal interests. What type of manager
is Lisa?
Transformational leader
The Board of Directors is deciding who the new CEO should be for a company. It has narrowed the
candidates down to two highly-credentialed individuals. Steve is known to be harsh but fair. He is a
proven CEO and has driven companies to success quickly. Kim, the other candidate, is known to be a
"people person" with a high emotional intelligence. In the past she has demonstrated success building
company culture to achieve great results. Knowing this, which candidate should the company choose
if it is seeking to motivate its employees?
Kim, because she is a transformational leader.
What is the name for a group of individuals who are responsible for making certain a company uses
the strategic management process, especially for the purpose of selecting and implementing
strategies?
Top management team
A CEO recently led her company through a period of significant growth and profitability. Her structure
change, new strategy, and other decisions caused the company to grow beyond expectations. But,
recently her decisions have been poor, which may have to do with lack of analysis and attention to
the details of projects put before her. When her team suggests alternatives, she pushes back. What
most likely happened to the CEO?
Overconfidence
Strategic leadership
is the ability to anticipate,
envision, maintain flexibility, and empower
others to create strategic change as necessary
Strategic change
is change brought about as a
result of selecting and implementing a firm's
strategies
heterogeneous top management team
is
composed of individuals with different functional
backgrounds, experience, and education.
external managerial labor market
is the
collection of managerial career opportunities
and the qualified people who are external to the
organization in which the opportunities exist.
internal managerial labor market
consists
of a firm's opportunities for managerial positions
and the qualified employees within that firm.
top management team
is composed of the
individuals who are responsible for making
certain the firm uses the strategic management
process, especially for the purpose of selecting
and implementing strategies.
Determining strategic direction
involves
specifying the vision and the strategy or
strategies to achieve this vision over time.
Human capital
refers to the knowledge and
skills of a firm's entire workforce. From the
perspective of human capital, employees are
viewed as a capital resource requiring
continuous investment.
Social capital
involves relationships inside and
, outside the firm that help in efforts to accomplish
tasks and create value for stakeholders.
balanced scorecard
is a tool firms use to
determine if they are achieving an appropriate
balance when using strategic and financial
controls as a means of positively influencing
performance.
What term encompasses the ability to anticipate, envision, maintain flexibility, and empower others
to create strategic change as necessary?
Strategic leadership
A CEO wants to implement a new strategy for her firm. Previously, the company's strategy was
differentiation and focused on having the highest quality product. Now, instead of increasing the
quality of the product, she wants to maintain quality but drive down cost per unit. What term defines
this scenario?
Strategic change
Which of these is not an example of a strategic leader?
High performing sales associate
Lisa is the CEO of her company and has a distinct leadership style. She doesn't want her employees to
be afraid to take an action they know is right. She wants her subordinates to be able to take matters
into their own hands, so she delegates many things to empower them. She has built a team culture in
which the team and the company are more important than personal interests. What type of manager
is Lisa?
Transformational leader
The Board of Directors is deciding who the new CEO should be for a company. It has narrowed the
candidates down to two highly-credentialed individuals. Steve is known to be harsh but fair. He is a
proven CEO and has driven companies to success quickly. Kim, the other candidate, is known to be a
"people person" with a high emotional intelligence. In the past she has demonstrated success building
company culture to achieve great results. Knowing this, which candidate should the company choose
if it is seeking to motivate its employees?
Kim, because she is a transformational leader.
What is the name for a group of individuals who are responsible for making certain a company uses
the strategic management process, especially for the purpose of selecting and implementing
strategies?
Top management team
A CEO recently led her company through a period of significant growth and profitability. Her structure
change, new strategy, and other decisions caused the company to grow beyond expectations. But,
recently her decisions have been poor, which may have to do with lack of analysis and attention to
the details of projects put before her. When her team suggests alternatives, she pushes back. What
most likely happened to the CEO?
Overconfidence
