MGMT449 Test Prep || A+ Score Secured.
Why are strategies important in an organization? correct answers They have a major impact on
performance relative to competitors.
How do managers identify and determine the process they want to use to create competitive
advantage? correct answers strategy-making
Who is responsible for managing the strategy-making process and its implementation? correct
answers leadership
Why is competitive advantage an important part of creating profitability in a firm? correct
answers It allows the firm to outperform rivals.
Why should maximizing shareholder value be the primary goal of profit-making companies?
correct answers to provide risk capital to shareholders
What do shareholders expect managers to deliver through strategic leadership? correct answers
high profitability and sustainable profit growth
How do strategic leaders use a business model to create competitive advantage? correct answers
to see how strategies will work together to achieve goals
In what way is a company's performance affected by the industry in which it competes? correct
answers Different industries have different competitive conditions.
Why is the profitability and profit growth of a company based on its relative success in its
industry and not on how much profit is made? correct answers Different industries are
characterized by different competitive conditions.
, What is the role of the CEO as a corporate-level manager? correct answers to oversee strategies
for the entire organization
How do general managers ensure their business units support the overall goals of the company?
correct answers by developing strategies that support corporate objectives
Why are functional-level managers in a unique position to generate ideas for major strategies of
a company? correct answers They are closest to the customer.
How does the strategy-making process typically end? correct answers with the design of control
systems to implement the strategy
Why is a customer-oriented approach to formulating a mission more effective than a product-
oriented business definition? correct answers A customer-oriented approach helps safeguard the
company from shifts in demand.
Which value or attribute can lead to higher performance and more success? correct answers
encouraging entrepreneurial behavior
What should be a manager's focus when setting up goals to increase the long-term performance
and competitiveness of the organization? correct answers issues such as customer satisfaction
and efficiency
Why is it important that managers monitor the feedback loop? correct answers It provides
information for future strategy formulation.
How can managers most effectively implement strategies in a way that maximizes profitability
ethically and legally? correct answers use governance systems that focus on culture and control
systems
Why are strategies important in an organization? correct answers They have a major impact on
performance relative to competitors.
How do managers identify and determine the process they want to use to create competitive
advantage? correct answers strategy-making
Who is responsible for managing the strategy-making process and its implementation? correct
answers leadership
Why is competitive advantage an important part of creating profitability in a firm? correct
answers It allows the firm to outperform rivals.
Why should maximizing shareholder value be the primary goal of profit-making companies?
correct answers to provide risk capital to shareholders
What do shareholders expect managers to deliver through strategic leadership? correct answers
high profitability and sustainable profit growth
How do strategic leaders use a business model to create competitive advantage? correct answers
to see how strategies will work together to achieve goals
In what way is a company's performance affected by the industry in which it competes? correct
answers Different industries have different competitive conditions.
Why is the profitability and profit growth of a company based on its relative success in its
industry and not on how much profit is made? correct answers Different industries are
characterized by different competitive conditions.
, What is the role of the CEO as a corporate-level manager? correct answers to oversee strategies
for the entire organization
How do general managers ensure their business units support the overall goals of the company?
correct answers by developing strategies that support corporate objectives
Why are functional-level managers in a unique position to generate ideas for major strategies of
a company? correct answers They are closest to the customer.
How does the strategy-making process typically end? correct answers with the design of control
systems to implement the strategy
Why is a customer-oriented approach to formulating a mission more effective than a product-
oriented business definition? correct answers A customer-oriented approach helps safeguard the
company from shifts in demand.
Which value or attribute can lead to higher performance and more success? correct answers
encouraging entrepreneurial behavior
What should be a manager's focus when setting up goals to increase the long-term performance
and competitiveness of the organization? correct answers issues such as customer satisfaction
and efficiency
Why is it important that managers monitor the feedback loop? correct answers It provides
information for future strategy formulation.
How can managers most effectively implement strategies in a way that maximizes profitability
ethically and legally? correct answers use governance systems that focus on culture and control
systems
