[Test Bank] Strategic Management,, Text and Cases 9th
Edition by Dess, McNamara, Eisner
romantic view of
leadership - Correct Answer>>situations in which
the leader is the key
force determining the
organization's success—or
lack thereof.
external control view
of leadership - Correct Answer>>situations in which
external forces—where
the leader has limited
influence—determine the
organization's success.
strategic
management - Correct Answer>>the analyses, decisions,
and actions an
organization undertakes in
order to create and sustain
competitive advantages.
strategy - Correct Answer>>the ideas, decisions, and
, actions that enable a firm
to succeed.
competitive
advantage - Correct Answer>>a firm's resources and
capabilities that enable
it to overcome the
competitive forces in its
industry(ies).
operational
effectiveness - Correct Answer>>performing similar
activities better than rivals.
Key Attributes of Strategic Management - Correct Answer>>1. Directs the
organization toward overall goals and objectives.
2. Includes multiple stakeholders in decision making.
3. Needs to incorporate short-term and long-term perspectives.
4. Recognizes trade-offs between efficiency and effectiveness.
stakeholders - Correct Answer>>individuals, groups, and
organizations that have
a stake in the success
of the organization.
These include owners
Edition by Dess, McNamara, Eisner
romantic view of
leadership - Correct Answer>>situations in which
the leader is the key
force determining the
organization's success—or
lack thereof.
external control view
of leadership - Correct Answer>>situations in which
external forces—where
the leader has limited
influence—determine the
organization's success.
strategic
management - Correct Answer>>the analyses, decisions,
and actions an
organization undertakes in
order to create and sustain
competitive advantages.
strategy - Correct Answer>>the ideas, decisions, and
, actions that enable a firm
to succeed.
competitive
advantage - Correct Answer>>a firm's resources and
capabilities that enable
it to overcome the
competitive forces in its
industry(ies).
operational
effectiveness - Correct Answer>>performing similar
activities better than rivals.
Key Attributes of Strategic Management - Correct Answer>>1. Directs the
organization toward overall goals and objectives.
2. Includes multiple stakeholders in decision making.
3. Needs to incorporate short-term and long-term perspectives.
4. Recognizes trade-offs between efficiency and effectiveness.
stakeholders - Correct Answer>>individuals, groups, and
organizations that have
a stake in the success
of the organization.
These include owners
