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Strategic Management: Text and Cases, 9e (Dess)
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Chapter 1 BN B N Strategic Management: Creating Competitive Advantages
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1) Lands' End's failure under the leadership of Ms. Frederica Marchionni was said to be
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a direct result of the quality of her leadership. According to the text, this would be an
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example of the "romantic" perspective of leadership.
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Answer: TRUEB N


Explanation: In the romantic view of leadership, the implicit assumption is that the leade
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r is the key force in determining an organization's success or lack thereof. Under Ms. M
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,archionni's leadership, the company reported a 19.5-million-
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dollar loss for 2016 after having reported a 73.8-million-
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dollar profit for the previous year under its previous CEO.
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Difficulty: 2 Medium BN BN


Topic: Strategy and the Strategic Management Process
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Learning Objective: 01-
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01 The definition of strategic management and its four key attributes. Bloom's: Understand
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AACSB: Analytical Thinking Acce
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ssibility: Keyboard Navigation
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2) Strategic management consists of the analyses, decisions, and actions an organiz
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ation undertakes in order to create and sustain competitive advantages.
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Answer: TRUE B N


Explanation: According to the textbook, this is the definition of strategic management.
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Difficulty: 1 Easy BN BN


Topic: Strategy and the Strategic Management Process
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Learning Objective: 01-
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01 The definition of strategic management and its four key attributes. Bloom's: Remember
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AACSB: Knowledge Application A
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ccessibility: Keyboard NavigationB N BN




3) Management innovations such as total quality, just-in-
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time, benchmarking, business process reengineering, and outsourcing are important but not
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enough for building sustainable competitive advantage.
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Answer: TRUE B N


Explanation: Sustainable competitive advantage cannot be achieved through operational e
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ffectiveness alone. Popular management innovations of the last two decades like total qua
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lity, just-in-
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time, benchmarking, business process reengineering, and outsourcing are concerned with o
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perational effectiveness.
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Difficulty: 2 Medium BN BN


Topic: Strategy and the Strategic Management Process
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Learning Objective: 01-
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01 The definition of strategic management and its four key attributes. Bloom's: Understand
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AACSB: Analytical Thinking Acce
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ssibility: Keyboard Navigation
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4) Trade-off decisions between effectiveness and efficiency are important in the practice of
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,strategic management. BN




Answer: TRUE B N


Explanation: The fourth attribute of strategic management is that it involves the recognit
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ion of trade-
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offs between effectiveness and efficiency. Some authors have referred to this as the diff
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erence between doing the right thing (effectiveness) and doing things right (efficiency).
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Difficulty: 2 Medium BN BN


Topic: Strategy and the Strategic Management Process
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Learning Objective: 01- BN B N


01 The definition of strategic management and its four key attributes. Bloom's: Understand
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AACSB: Analytical Thinking Acce B N BN BN


ssibility: Keyboard Navigation B N BN




5) According to Henry Mintzberg, a management scholar, most firms do not realize their o
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riginal intended strategy.
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Answer: TRUE B N


Explanation: Henry Mintzberg states that the intended strategy rarely survives in its origi
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nal form. Unforeseen environmental developments, unanticipated resource constraints, or ch
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anges in managerial preferences may result in at least some parts of the intended strategy
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Nremaining unrealized. On the other hand, good managers will want to take advantage of
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a new opportunity presented by the environment, even if it was not part of the original s
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et of intentions.
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Difficulty: 2 Medium BN BN


Topic: Strategy and the Strategic Management Process
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Learning Objective: 01- BN B N


02 The strategic management process and its three interrelated and principal activities.
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Bloom's: Understand AACS B N BN


B: Analytical Thinking
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Accessibility: Keyboard Navigation B N BN




6) The final realized strategy of a firm is a combination of deliberate and time-
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tested strategies only.
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Answer: FALSE B N


Explanation: Realized strategy is that strategy of a firm in which organizational decisions
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are determined by both analysis and unforeseen environmental developments, unanticipated r
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esource constraints, and/or changes in managerial preferences.
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Difficulty: 2 Medium BN BN


Topic: Strategy and the Strategic Management Process
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Learning Objective: 01- BN B N


02 The strategic management process and its three interrelated and principal activities.
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Bloom's: Understand B N


AACSB: Knowledge Application A B N BN BN


ccessibility: Keyboard Navigation B N BN

, 7) Strategy analysis is the study of only the big picture external environments of the firm.
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Answer: FALSE B N


Explanation: Strategy analysis is the study of the external and internal environments of
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a firm, and their fit with organizational vision and goals.
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Difficulty: 2 Medium BN BN


Topic: Strategy and the Strategic Management Process
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Learning Objective: 01- BN B N


02 The strategic management process and its three interrelated and principal activities.
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Bloom's: Understand B N


AACSB: Knowledge Application A B N BN BN


ccessibility: Keyboard Navigation B N BN




8) All successful firms compete and outperform their rivals by developing bases for comp
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etitive advantage, which can be achieved only through cost leadership.
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Answer: FALSE B N


Explanation: Successful firms strive to develop bases for competitive advantage, which can
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be achieved through cost leadership and/or differentiation as well as by focusing on a narro
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w or industrywide market segment.
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Difficulty: 2 Medium BN BN


Topic: Strategy and the Strategic Management Process
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Learning Objective: 01- BN B N


02 The strategic management process and its three interrelated and principal activities.
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Bloom's: Understand AACS B N BN


B: Analytical Thinking
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Accessibility: Keyboard Navigation B N BN




9) The three primary participants in corporate governance are: (1) the shareholders, (
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2) the management (led by the chief executive officer), and (3) the employees.
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Answer: FALSE B N


Explanation: The primary participants are: (1) the shareholders, (2) the management (led by
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the chief executive officer), and (3) the board of directors.
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Difficulty: 2 Medium BN BN


Topic: Corporate Governance
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Learning Objective: 01- BN B N


03 The strategic role of corporate governance and stakeholder management, as well as ho
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w "symbiosis" can be achieved among an organization's stakeholders. Bloom's: Understand
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AACSB: Knowledge Application A B N BN BN


ccessibility: Keyboard Navigation B N BN