WPC 480 Cha 1-7 Exam Questions With 100% Correct Answers.

WPC 480 Cha 1-7 Exam Questions With 100% Correct Answers. Relative power is the most critical element for prioritizing the demands of stakeholders. - answerTrue Above average returns are those in excess of what an investor expects to earn from other investments with similar stock prices. - answerTrue Hourly workers on the production line of a chicken-processing plant are considered organizational stakeholders. - answerTrue An effective vision statement must specify the industry in which a company will operate - answerfalse The rate of technology diffusion has been steadily increasing over the last two decades - answerTrue Returns can only be measured in accounting terms such as return on assets, return on equity, or return on sales. - answerFalse Strategic leaders must have a strong strategic orientation while embracing change in the dynamic competitive landscape. - answerTrue A firm's mission tends to be enduring while its vision can change in light of changing environmental conditions. - answerfalse In the resource-based model, which of the following factors would be considered a key to organizational success? - answerskilled employees All of the following are resources of an organization EXCEPT: - answerweek competitors in the industry SWOT stands for - answerStrengths, weaknesses, opportunities, and threats The industrial organization (I/O) model argues that: - answerthe key factor in success is choosing the correct industry in which to compete. Successful strategic leaders are: - answerdecisive. committed to nurturing those around them. committed to helping the firm to create value for all stakeholder groups. In a diversified firm, corporate-level strategy is concerned with: - answerdetermining in which businesses to compete and how resources will be allocated between businesses. The Princeton Alliance Church states in its website that "PAC exists to help you live life to the fullest by knowing God, developing community and bringing hope." This pronouncement is most precisely a statement of organizational: - answervision The global economy, globalization, rapid technological change, and the increasing importance of knowledge are creating the need to: - answerdelegate strategic responsibilities to employees "closer to the action." The I/O model is grounded in: - answereconomies Product market stakeholders include the firm's customers, and the principal concern of this stakeholder group is: - answerobtaining reliable products at the lowest possible price. Organizational culture is a complex set of ideologies, symbols, and core values that are shared throughout the firm, but its development is so subtle and poorly understood that top managers cannot influence its content. - answerFALSE Rewarding those who use proper channels and procedures to report observed wrongdoings is an example of an action that should be taken by a strategic leader to develop an ethical organizational culture. - answerTRUE The decision-making discretion of top-level managers is determined partly by external environmental factors such as the industry structure, the industry's rate of growth, and the degree to which products can be differentiated. - answerTRUE Employees usually have a strong preference for firms to use the internal managerial labor market when selecting top management team members and the CEO. - answerTRUE In the past, companies had a preference for insiders to fill top-level management positions because of the desire for continuity and a continuing commitment to the firm's current vision, mission, and chosen strategies. - answerTRUE Members with substantive expertise in the firm's core functions and businesses aid the effectiveness of the top management team. - answerTRUE Transformational leadership is the most effective strategic leadership style. - answerTRUE