Globus Test 1 Questions and Complete
Solutions Graded A+
A term described as an integrative management field that combines analysis, formulation and
implementations in the quest for competitive advantage. - Answer: Strategic Management
Identify "Strategic commitments" as a formulated strategy and using policy - Answer: Strategic
commitments are effective guiding policies such as sizable investment or changes o an organizations
incentives and reward systems. These are big changes that can't be easily reversed.
Understand what it means to have competitive parity. - Answer: Performance of two or more firms at
the same level.
competitive advantage - Answer: a firm that achieves superior performance relative to other
competitors in the same industry or the industry average
sustainable competitive advantage - Answer: outperforming competitors or the industry average over a
prolonged period of time
competitive disadvantage - Answer: underperformance relative to other competitors in the same
industry or the industry average
identify the phrase that represents the vision Wendy Kopp developed for Teach for America - Answer:
"One day, all children in this nation will have the opportunity to attain an excellent education"
Difference between a firms vision and mission - Answer: a vision defines what an organization wants to
accomplish. A goal describes what an organization does to get a vision accomplished.
Why is it better for firms to keep their vision statements customer-oriented rather than product
oriented? - Answer: Customer oriented vision statements allow companies to adapt to change. Product
oriented often contains this ability.
, Organizational core values are the _________ that govern the behavior of individuals within a firm or
organization. - Answer: ethical standards and norms.
Strategic leadership pertains to the use of power and influence by ______ to direct the activities of
others when pursuing an organizations goals. - Answer: corporate executives.
Be able to identify a person on a level-5 pyramid and understand each level - Answer: 1- highly capable
individual
2- contributing team member
3- competent manager
4- effective leader
5- corporate executives
Level 5 Person: Sheryl Sandberg COO of FB
Summarize the difference between SBU (strategic business unit) and a corporate partner. - Answer:
What is an assumption that top-down strategic planning rests on? - Answer: Often rests on the
assumption that we can predict the future from the past.
understand an be able to identify scenario planning situations - Answer: Scenario planning asks "what if
questions" to anticipate plausible futures in order to derive strategic responses.
Unexpected events that are highly improbable but lead two changes can best be described as a -
Answer: black swan event
Understand intended, realized and emergent strategy - Answer: Intended strategy: the outcome of a
rational and structured top-down strategic plan.
Realized: formulated through a combination of its top down strategic intentions and bottom up
emergent strategies
Solutions Graded A+
A term described as an integrative management field that combines analysis, formulation and
implementations in the quest for competitive advantage. - Answer: Strategic Management
Identify "Strategic commitments" as a formulated strategy and using policy - Answer: Strategic
commitments are effective guiding policies such as sizable investment or changes o an organizations
incentives and reward systems. These are big changes that can't be easily reversed.
Understand what it means to have competitive parity. - Answer: Performance of two or more firms at
the same level.
competitive advantage - Answer: a firm that achieves superior performance relative to other
competitors in the same industry or the industry average
sustainable competitive advantage - Answer: outperforming competitors or the industry average over a
prolonged period of time
competitive disadvantage - Answer: underperformance relative to other competitors in the same
industry or the industry average
identify the phrase that represents the vision Wendy Kopp developed for Teach for America - Answer:
"One day, all children in this nation will have the opportunity to attain an excellent education"
Difference between a firms vision and mission - Answer: a vision defines what an organization wants to
accomplish. A goal describes what an organization does to get a vision accomplished.
Why is it better for firms to keep their vision statements customer-oriented rather than product
oriented? - Answer: Customer oriented vision statements allow companies to adapt to change. Product
oriented often contains this ability.
, Organizational core values are the _________ that govern the behavior of individuals within a firm or
organization. - Answer: ethical standards and norms.
Strategic leadership pertains to the use of power and influence by ______ to direct the activities of
others when pursuing an organizations goals. - Answer: corporate executives.
Be able to identify a person on a level-5 pyramid and understand each level - Answer: 1- highly capable
individual
2- contributing team member
3- competent manager
4- effective leader
5- corporate executives
Level 5 Person: Sheryl Sandberg COO of FB
Summarize the difference between SBU (strategic business unit) and a corporate partner. - Answer:
What is an assumption that top-down strategic planning rests on? - Answer: Often rests on the
assumption that we can predict the future from the past.
understand an be able to identify scenario planning situations - Answer: Scenario planning asks "what if
questions" to anticipate plausible futures in order to derive strategic responses.
Unexpected events that are highly improbable but lead two changes can best be described as a -
Answer: black swan event
Understand intended, realized and emergent strategy - Answer: Intended strategy: the outcome of a
rational and structured top-down strategic plan.
Realized: formulated through a combination of its top down strategic intentions and bottom up
emergent strategies
