Help
Options
Question
Nortel, like other firms, suffered from a drop in overall industry demand for telecommunications equipment during 2000 and 2001. according to the text, this would be an example of the "romantic" perspective of leadership. true or false?
click to flip
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't know
Question
Strategic management consists of the analysis, decisions, and actions an organization undertakes to create and sustain competitive advantage. true or false?
Remaining cards (64)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
business policy fina
| Question | Answer |
|---|---|
| Nortel, like other firms, suffered from a drop in overall industry demand for telecommunications equipment during 2000 and 2001. according to the text, this would be an example of the "romantic" perspective of leadership. true or false? | false |
| Strategic management consists of the analysis, decisions, and actions an organization undertakes to create and sustain competitive advantage. true or false? | true |
| Strategic management includes strategy analysis, strategy formulation, and strategy implementation. true or false? | true |
| management innovations such as total quality, benchmarking, and business process reengineering often lead to sustainable competitive advantage. true or false? | false |
| strategic management recognizes the tradeoffs between effectiveness and efficiency. true or false? | true |
| the best firms always realize their intended strategy. true or false? | false |
| according to the text, formulating strategy includes taking into consideration strategy at the business, international, and corporate levels. in addition managers must formulate effective entrepreneurial initiatives. true or false? | true |
| business level strategy focuses on 2 issues, what businesses to compete in and how business can be managed to achieve synergy. true or false? | false |
| corporate level strategy addresses how firms compete and outperform their rivals as well as achieve and sustain competitive advantages. true or false? | false |
| effective leadership can play a large role in fostering corporate entrepreneurship. corporate entrepreneurship can have a very positive impact on a firms bottom line. true or false? | true |
| the three primary participants in corporate governance are: the shareholders, management, and employees. true or false? | false |
| decisions by board of directors are always consistent with shareholder interests. true or false? | false |
| former Chrysler vice chairman Robert Lutz stated "We are here to serve the shareholder and create shareholder value. I insist that the only person who owns the company is the person who paid good money for it." This is an example of a symbiotic approach? | False |
| stockholders in a company are the individuals with an interest in the financial performance in the company. true or false? | false |
| stockholders, employees, and the community at large are among a firm's stakeholders. true or false? | true |
| Symbiosis is the ability to recognize interdependence among the interests of multiple stakeholders within and outside an organization. true or false? | true |
| one of the benefits of crowdsourcing is that stakeholders are restricted to one narrow role. true or false? | false |
| social responsibility is the idea that organizations are not only accountable to stockholders but also the community at large. true or false? | true |
| Shell, NEC, and Proctor & Gamble have been measuring their performance according to what has been called a triple bottom line. this technique involves an assessment of financial, social, and environmental performance. true or false? | true |
| The strategic management process should be addressed only by top level executives. mid level and low level employees are best equipped to implement the organizations strategies. true or false? | false |
| Organizational vision statements are the beginning point for the hierarchy of goals throughout the organization. an organization's vision statement should by massively inspiring, overarching, and long term. true or false? | true |
| Although vision statements vary from organization to organization, vision statements are intended to motivate and inspire employees to work toward a general goal. true or false? | true |
| Strategic objectives are more specific than mission statements. true or false? | true |
| a mission statement encompasses both the purpose of the company as well as the basis of competition and competitive advantage. true or false? | true |
| Some excellent examples or mission statements are "To be the happiest place on earth." and "restoring patients to full life." true or false? | false |
| Strategic objectives should be measurable, specific, appropriate, and realistic but not constrained by time deadlines. true or false? | false |
| Much research has supported the notion that individuals work much harder when asked to their best rather than when they are striving toward a specific goal. true or false? | false |
| Objectives should be clear, stated, and known by employees throughout the organization. true or false? | true |
| Strategic management should include only short term objectives. long term objectives are covered in the organization's vision statement. true or false? | false |
| Organizational goals and objectives should be vague in order to allow for changes in strategy. true or false? | false |
| The text addresses 2 perspectives of leadership as well as their implications. These 2 perspectives are: | romantic and external control |
| A CEO made a lot of mistakes such as committing errors in assessing the market and competitive conditions and improperly redesigning the organization into numerous business units. such errors led to significant declines. this illustrates: | romantic perspective of leadership |
| According to the text, the strategic management process entails three ongoing processes: | analysis, decisions, and actions |
| Management innovations such as total quality, benchmarking, and business process reengineering cannot lead to sustainable competitive advantage because: | every company is trying to implement them and hence it does not make a company different from others. |
| The "organizational versus individual rationality" perspective suggests that: | what is best for a functional area may not be best for the organization |
| The four key attributes of strategic management include the idea that: | strategy must be directed toward overall organizational goals and objectives |
| Effectiveness is often defined as: | doing the right thing |
| According to Henry Mintzberg, the realized strategies of a firm: | are a combination of deliberate and emergent strategies |
| According to Henry Mintzberg, decisions flowing from a firm's strategic analysis are its: | intended strategy |
| May be considered the advanced work that must be done in order to effectively formulate and implement strategies: | strategy analysis |
| involves ensuring proper strategic controls and organizational designs | strategy implementation |
| the three participants in corporate governance are: | the shareholders, board or directors, and management |
| While working to prioritize and fulfill their responsibilities, members of an organization's board of directors should: | represent the interests of the shareholders |
| Members of the Board of Directors are elected by: | shareholders as their representative |
| An organization is responsible for many different entities. in order to meet the demands of these groups, organizations must participate in stakeholder management. stakeholder management means that: | interests of the stockholders are not the only interests that matter |
| Stakeholders are | individuals, groups, and organizations who have a stake in the success of the organization |
| There are several perspectives of competition. One perspective is zero-sum thinking. Zero-sum thinking means that | one can only gain at the expense of someone else. |
| Managers should do more than just focus on short-term financial performance. One concept that helps managers do this is stakeholder symbiosis. This means that | stakeholders are dependent on each other for their success. |
| Crowdsourcing can be defined as | tapping the latent talent of the online crowd |
| Firms must be aware of goals other than short-term profit maximization. One area of concern should be social responsibility which is | the expectation that business will strive to improve the overall welfare of society |
| , the "triple bottom line" approach to corporate accounting includes which three components | financial, environmental, and social |
| Many organizations have a large number of functional areas with very diverse, and sometimes competing, interests. Such organizations will be most effective if | functional areas work together to attain overall goals |
| Strategy formulation and implementation is a challenging on-going process. To be effective, it should involve | CEO, board of directors, CFO, staff and line managers |
| The text argues that a strategic perspective in an organization should be emphasized | throughout the organization. |
| are individuals that, although having little positional power and formal authority, generate their power through the conviction and clarity of their ideas. | Internal networkers |
| champion and guide ideas, create a learning infrastructure, and establish a domain for taking action | Executive leaders |
| Leadership is a necessary (but not sufficient) condition for organizational success. Leaders should emerge at which level(s) of an organization? | throughout the organization |
| The hierarchy of organizational goals is in this order (least specific to most specific): | vision statements, mission statements, strategic objectives |
| Vision statements are used to create a better understanding of the organization's overall purpose and direction. Vision statements | evoke powerful and compelling mental images |
| Effective vision statements include | a brief statement of the company's direction |
| In contrast to an organization's vision, its mission should | encompass both the purpose of the company as well as the basis of competition |
| An organization's mission statement and vision statement set the overall direction of the organization. Strategic objectives | operationalize the mission statement |
| Successful organizations are effective in motivating people. Employees work best when | they are striving toward specific goals |
| "We want to be the top-ranked supplier by our customers." (PPG) This is an example of a | nonfinancial strategic objective |
| In large organizations, conflicts can arise between functional areas. In order to resolve these conflicts, strategic objectives | help resolve conflicts through their common purpose. |
Created by:
1401120066