WPC 480 Chapter 12 UPDATED ACTUAL
Questions and CORRECT Answers
Strategic leadership - CORRECT ANSWER - is the ability to anticipate,
envision, maintain flexibility, and empower
others to create strategic change as necessary
Strategic change - CORRECT ANSWER - is change brought about as a
result of selecting and implementing a firm's
strategies
heterogeneous top management team - CORRECT ANSWER - is
composed of individuals with different functional
backgrounds, experience, and education.
external managerial labor market - CORRECT ANSWER - 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 - CORRECT ANSWER - consists
of a firm's opportunities for managerial positions
and the qualified employees within that firm.
top management team - CORRECT ANSWER - 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 - CORRECT ANSWER - involves
specifying the vision and the strategy or
strategies to achieve this vision over time.
Human capital - CORRECT ANSWER - 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 - CORRECT ANSWER - involves relationships inside and
outside the firm that help in efforts to accomplish
tasks and create value for stakeholders.
balanced scorecard - CORRECT ANSWER - 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? - CORRECT ANSWER - 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
Questions and CORRECT Answers
Strategic leadership - CORRECT ANSWER - is the ability to anticipate,
envision, maintain flexibility, and empower
others to create strategic change as necessary
Strategic change - CORRECT ANSWER - is change brought about as a
result of selecting and implementing a firm's
strategies
heterogeneous top management team - CORRECT ANSWER - is
composed of individuals with different functional
backgrounds, experience, and education.
external managerial labor market - CORRECT ANSWER - 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 - CORRECT ANSWER - consists
of a firm's opportunities for managerial positions
and the qualified employees within that firm.
top management team - CORRECT ANSWER - 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 - CORRECT ANSWER - involves
specifying the vision and the strategy or
strategies to achieve this vision over time.
Human capital - CORRECT ANSWER - 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 - CORRECT ANSWER - involves relationships inside and
outside the firm that help in efforts to accomplish
tasks and create value for stakeholders.
balanced scorecard - CORRECT ANSWER - 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? - CORRECT ANSWER - 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
