MGMT 478 - EXAM ONE questions with
verified answers graded A+ updated
According to recent research by Cuddy, Fiske, and Glick, what ethics variable(s) is most
important in doing business? - correct answer ✔✔trustworthiness
According to the chapter, a pitfall to watch for and avoid in strategic planning is: - correct
answer ✔✔Doing strategic planning only to satisfy accreditation or regulatory requirements
Which of the following activities is included in strategy implementation? - correct answer
✔✔Develop a strategy-supportive culture and create an effective organizational structure.
The term strategic planning is used synonymously in this text with what other term? - correct
answer ✔✔Strategic management
Strategic management is based on the idea that organizations should monitor internal and
external trends _____. - correct answer ✔✔continually
What is often considered the first step in strategic planning? - correct answer ✔✔Developing a
vision statement
Who said, "Perfection is not attainable. But if we chase perfection, we can catch excellence"? -
correct answer ✔✔Vince Lombardi, Head Coach Green Bay Packers
(1959-67)
According to the chapter, the worst thing strategists can do is to develop strategic plans and
then ____. - correct answer ✔✔present the plans to operating managers to execute
,According to the model used in this text, what should be answered when developing a strategic
plan? - correct answer ✔✔Where are we now, where do we want to go, and how are we going
to get there?
A firm can achieve sustained competitive advantage by _____. - correct answer ✔✔effectively
formulating, implementing, and evaluating strategies that capitalize on changes in trends and
internal capabilities
Because of the success of the iPad and the iPhone, Apple has tremendous brand recognition.
Brand recognition is one of Apple's - correct answer ✔✔strengths
Recent research by Rose and Cray examined the strategic-management process and concluded
that perhaps the most important "activity" is what? - correct answer ✔✔The feedback loop
Strengths and weaknesses can be determined by elements of being rather than performance.
For example, ______. - correct answer ✔✔a strength may involve ownership of natural
resources
A fundamental strategy-evaluation activity includes_____. - correct answer ✔✔reviewing
external and internal factors that are the bases for current strategies, measuring performance,
and taking corrective actions
Building four new manufacturing plants in Europe is an example of a(n) ______. - correct
answer ✔✔strategy
Dale McConkey said, "Plans are less important than planning." What does this statement mean?
- correct answer ✔✔Communication, understanding, and commitment are vitally important in
strategic planning.
, Which of the following is listed in the chapter as a reason often given for poor or no strategic
planning in a firm? - correct answer ✔✔Laziness
To survive and prosper, a business must gain and sustain ______ major competitive advantages
over rival firms. - correct answer ✔✔at least several
Guidelines, rules, and procedures established to support implementation efforts are called
_____. - correct answer ✔✔policies
Which statement best describes intuition? - correct answer ✔✔It should be coupled with
analysis in decision making.
Which of the following is NOT a reason given for poor or no strategic planning in an
organization? - correct answer ✔✔Trust of management makes it unnecessary
Which of the following four types of strategies are developed in a SWOT (Strengths-
Weaknesses-Opportunities-Threats) Analysis? - correct answer ✔✔SO, WO, ST, WT
According to Chapter 1, ______ may be the most important word in management. - correct
answer ✔✔communication
The strategic-management process - correct answer ✔✔is a continuous process.
______ is the act of strengthening employees' sense of effectiveness by encouraging them to
participate in decision making and to exercise initiative and imagination, and then rewarding
them for doing so. - correct answer ✔✔Empowerment
Unskilled leaders work out their conflicts in courtrooms and battlefields. Brilliant strategists
rarely go to battle or to court. How do they usually achieve their objectives? - correct answer
✔✔Through tactical positioning well in advance of any confrontation
verified answers graded A+ updated
According to recent research by Cuddy, Fiske, and Glick, what ethics variable(s) is most
important in doing business? - correct answer ✔✔trustworthiness
According to the chapter, a pitfall to watch for and avoid in strategic planning is: - correct
answer ✔✔Doing strategic planning only to satisfy accreditation or regulatory requirements
Which of the following activities is included in strategy implementation? - correct answer
✔✔Develop a strategy-supportive culture and create an effective organizational structure.
The term strategic planning is used synonymously in this text with what other term? - correct
answer ✔✔Strategic management
Strategic management is based on the idea that organizations should monitor internal and
external trends _____. - correct answer ✔✔continually
What is often considered the first step in strategic planning? - correct answer ✔✔Developing a
vision statement
Who said, "Perfection is not attainable. But if we chase perfection, we can catch excellence"? -
correct answer ✔✔Vince Lombardi, Head Coach Green Bay Packers
(1959-67)
According to the chapter, the worst thing strategists can do is to develop strategic plans and
then ____. - correct answer ✔✔present the plans to operating managers to execute
,According to the model used in this text, what should be answered when developing a strategic
plan? - correct answer ✔✔Where are we now, where do we want to go, and how are we going
to get there?
A firm can achieve sustained competitive advantage by _____. - correct answer ✔✔effectively
formulating, implementing, and evaluating strategies that capitalize on changes in trends and
internal capabilities
Because of the success of the iPad and the iPhone, Apple has tremendous brand recognition.
Brand recognition is one of Apple's - correct answer ✔✔strengths
Recent research by Rose and Cray examined the strategic-management process and concluded
that perhaps the most important "activity" is what? - correct answer ✔✔The feedback loop
Strengths and weaknesses can be determined by elements of being rather than performance.
For example, ______. - correct answer ✔✔a strength may involve ownership of natural
resources
A fundamental strategy-evaluation activity includes_____. - correct answer ✔✔reviewing
external and internal factors that are the bases for current strategies, measuring performance,
and taking corrective actions
Building four new manufacturing plants in Europe is an example of a(n) ______. - correct
answer ✔✔strategy
Dale McConkey said, "Plans are less important than planning." What does this statement mean?
- correct answer ✔✔Communication, understanding, and commitment are vitally important in
strategic planning.
, Which of the following is listed in the chapter as a reason often given for poor or no strategic
planning in a firm? - correct answer ✔✔Laziness
To survive and prosper, a business must gain and sustain ______ major competitive advantages
over rival firms. - correct answer ✔✔at least several
Guidelines, rules, and procedures established to support implementation efforts are called
_____. - correct answer ✔✔policies
Which statement best describes intuition? - correct answer ✔✔It should be coupled with
analysis in decision making.
Which of the following is NOT a reason given for poor or no strategic planning in an
organization? - correct answer ✔✔Trust of management makes it unnecessary
Which of the following four types of strategies are developed in a SWOT (Strengths-
Weaknesses-Opportunities-Threats) Analysis? - correct answer ✔✔SO, WO, ST, WT
According to Chapter 1, ______ may be the most important word in management. - correct
answer ✔✔communication
The strategic-management process - correct answer ✔✔is a continuous process.
______ is the act of strengthening employees' sense of effectiveness by encouraging them to
participate in decision making and to exercise initiative and imagination, and then rewarding
them for doing so. - correct answer ✔✔Empowerment
Unskilled leaders work out their conflicts in courtrooms and battlefields. Brilliant strategists
rarely go to battle or to court. How do they usually achieve their objectives? - correct answer
✔✔Through tactical positioning well in advance of any confrontation
