CHAPTER ONE MGT 499 EXAM
QUESTIONS AND ANSWERS GRADED A+
2025/2026
(PQ) Which of the following best describes the reason for the failure of Luckin Coffee?
Question 1 options:
Fraud and misrepresentation of financial results.
Declining sales in China.
Lack of any personal interaction with a barista.
Higher prices than its competitor, Starbucks. - ANS Fraud and misrepresentation of financial
results.
(PQ) Studies show that the realized strategy of most organizations will most often resemble its
intended strategy.
True
False - ANS False
(PQ) Which one of the following is not a key attribute of strategic management?
Emphasizing a positive social and environmental impact regardless of financial cost.
Making sure to "do the right things", not just "do things right".
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
,Expanding decision making beyond the "shareholder" group.
Striving to achieve short-term operating performance and pursue the long-term vision. -
ANS Expanding decision making beyond the "shareholder" group.
When developments in the general environment, such as new technologies, or an outbreak of
internal conflict occur, they can greatly restrict the choices that are available to company
leaders. This is the________ view of leadership.
Question 4 options:
external supply
internal control
external control
internal supply - ANS external control
The vision and mission statements of a company set the overall direction of the organization.
Strategic objectives serve what role?
Question 5 options:
operationalize the mission statement
modify the mission statement
are a shorter version of the mission statement
are only clarified by the board of directors - ANS operationalize the mission statement
Strategy formulation and implementation is a challenging ongoing process. To be effective, it
should not involve
Question 6 options:
the CEO and the board of directors.
the board of directors, CEO, and CFO.
rivals.
line and staff managers. - ANS rivals.
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, According to Henry Mintzberg, the final realized strategy of a firm is
Question 7 options:
a combination of deliberate and emergent strategies.
a combination of deliberate and differentiation strategies.
not deliberate.
a result of unrealized intended strategy. - ANS ??
Strategic management involves the recognition of trade-offs between effectiveness and
Question 8 options:
cost.
value.
return on investment.
efficiency. - ANS cost
Peter Senge, of MIT, recognized three types of leaders. Which of the following describes
individuals who champion and guide ideas, create learning infrastructure, and establish a
domain for taking action?
Question 9 options:
local line leaders
executive leaders
internal networkers
shop floor leaders - ANS ??
Community stakeholders are concerned primarily with
Question 10 options:
product warranties.
corporate citizenship behavior.
capital appreciation.
3 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
QUESTIONS AND ANSWERS GRADED A+
2025/2026
(PQ) Which of the following best describes the reason for the failure of Luckin Coffee?
Question 1 options:
Fraud and misrepresentation of financial results.
Declining sales in China.
Lack of any personal interaction with a barista.
Higher prices than its competitor, Starbucks. - ANS Fraud and misrepresentation of financial
results.
(PQ) Studies show that the realized strategy of most organizations will most often resemble its
intended strategy.
True
False - ANS False
(PQ) Which one of the following is not a key attribute of strategic management?
Emphasizing a positive social and environmental impact regardless of financial cost.
Making sure to "do the right things", not just "do things right".
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
,Expanding decision making beyond the "shareholder" group.
Striving to achieve short-term operating performance and pursue the long-term vision. -
ANS Expanding decision making beyond the "shareholder" group.
When developments in the general environment, such as new technologies, or an outbreak of
internal conflict occur, they can greatly restrict the choices that are available to company
leaders. This is the________ view of leadership.
Question 4 options:
external supply
internal control
external control
internal supply - ANS external control
The vision and mission statements of a company set the overall direction of the organization.
Strategic objectives serve what role?
Question 5 options:
operationalize the mission statement
modify the mission statement
are a shorter version of the mission statement
are only clarified by the board of directors - ANS operationalize the mission statement
Strategy formulation and implementation is a challenging ongoing process. To be effective, it
should not involve
Question 6 options:
the CEO and the board of directors.
the board of directors, CEO, and CFO.
rivals.
line and staff managers. - ANS rivals.
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, According to Henry Mintzberg, the final realized strategy of a firm is
Question 7 options:
a combination of deliberate and emergent strategies.
a combination of deliberate and differentiation strategies.
not deliberate.
a result of unrealized intended strategy. - ANS ??
Strategic management involves the recognition of trade-offs between effectiveness and
Question 8 options:
cost.
value.
return on investment.
efficiency. - ANS cost
Peter Senge, of MIT, recognized three types of leaders. Which of the following describes
individuals who champion and guide ideas, create learning infrastructure, and establish a
domain for taking action?
Question 9 options:
local line leaders
executive leaders
internal networkers
shop floor leaders - ANS ??
Community stakeholders are concerned primarily with
Question 10 options:
product warranties.
corporate citizenship behavior.
capital appreciation.
3 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
