ATI Capstone Final Exam Questions and Answers (Verified Answers)

ATI Capstone Final Exam Questions and Answers (Verified Answers) 1.In a survey of 50 corporations, which of the following was rated highly as a benefit of strategic management? ANS Clearer sense of strategic vision for the firm 2.Strategic decisions, such as the ones made by the Genentech CEO in setting a new direction for his company, are characterized by being ANS Rare, consequential and directive 3.Business strategy can be best described as ANS A master plan for achieving business objectives and goals . 4.The essence of strategy formulation includes ANS Mission, objectives, strategies and policies 5.The basic elements of the strategic management model include ANS Environ- mental scanning, Strategy formulation, Strategy Implementation and Evaluation and Control 6.In the Wells Fargo sales scandal discussed in class the key issue revolved around ANS Ethical lapses that encouraged aggressive sales tactics and excessive fees 7.In the JC Penny example what was main issue that lead to the CEO, Ron Johnson, being fired by the board after only 18 months on the job. ANS Company performance did not meet board expectations 8.The greatest concern in having a dual position of Chairman of the Board & CEO is ANS Potential for conflict of interest and concentration of power in a single individual 9.A commonly cited reason why executives 'bend' the rules is ANS Organizational pressures 10.Which of the following is an important trend in corporate governance? ANS The Board taking a more active role in shaping the company's strategic direction