business policy fina
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| 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? | show 🗑
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| Strategic management consists of the analysis, decisions, and actions an organization undertakes to create and sustain competitive advantage. true or false? | show 🗑
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| show | true
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| management innovations such as total quality, benchmarking, and business process reengineering often lead to sustainable competitive advantage. true or false? | show 🗑
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| show | true
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| show | false
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| show | true
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| business level strategy focuses on 2 issues, what businesses to compete in and how business can be managed to achieve synergy. true or false? | show 🗑
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| show | false
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| 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? | show 🗑
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| the three primary participants in corporate governance are: the shareholders, management, and employees. true or false? | show 🗑
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| decisions by board of directors are always consistent with shareholder interests. true or false? | show 🗑
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| show | False
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| stockholders in a company are the individuals with an interest in the financial performance in the company. true or false? | show 🗑
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| stockholders, employees, and the community at large are among a firm's stakeholders. true or false? | show 🗑
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| Symbiosis is the ability to recognize interdependence among the interests of multiple stakeholders within and outside an organization. true or false? | show 🗑
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| one of the benefits of crowdsourcing is that stakeholders are restricted to one narrow role. true or false? | show 🗑
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| social responsibility is the idea that organizations are not only accountable to stockholders but also the community at large. true or false? | show 🗑
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| 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? | show 🗑
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| 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? | show 🗑
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| show | true
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| 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? | show 🗑
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| show | true
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| a mission statement encompasses both the purpose of the company as well as the basis of competition and competitive advantage. true or false? | show 🗑
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| Some excellent examples or mission statements are "To be the happiest place on earth." and "restoring patients to full life." true or false? | show 🗑
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| show | false
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| 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? | show 🗑
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| Objectives should be clear, stated, and known by employees throughout the organization. true or false? | show 🗑
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| show | false
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| show | false
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| The text addresses 2 perspectives of leadership as well as their implications. These 2 perspectives are: | show 🗑
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| 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: | show 🗑
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| According to the text, the strategic management process entails three ongoing processes: | show 🗑
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| show | every company is trying to implement them and hence it does not make a company different from others.
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| show | what is best for a functional area may not be best for the organization
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| show | strategy must be directed toward overall organizational goals and objectives
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| Effectiveness is often defined as: | show 🗑
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| show | are a combination of deliberate and emergent strategies
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| show | intended strategy
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| show | strategy analysis
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| show | strategy implementation
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| the three participants in corporate governance are: | show 🗑
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| While working to prioritize and fulfill their responsibilities, members of an organization's board of directors should: | show 🗑
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| show | shareholders as their representative
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| show | interests of the stockholders are not the only interests that matter
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| show | individuals, groups, and organizations who have a stake in the success of the organization
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| There are several perspectives of competition. One perspective is zero-sum thinking. Zero-sum thinking means that | show 🗑
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| 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 | show 🗑
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| Crowdsourcing can be defined as | show 🗑
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| Firms must be aware of goals other than short-term profit maximization. One area of concern should be social responsibility which is | show 🗑
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| show | financial, environmental, and social
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| Many organizations have a large number of functional areas with very diverse, and sometimes competing, interests. Such organizations will be most effective if | show 🗑
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| show | CEO, board of directors, CFO, staff and line managers
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| show | throughout the organization.
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| are individuals that, although having little positional power and formal authority, generate their power through the conviction and clarity of their ideas. | show 🗑
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| champion and guide ideas, create a learning infrastructure, and establish a domain for taking action | show 🗑
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| show | throughout the organization
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| show | vision statements, mission statements, strategic objectives
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| show | evoke powerful and compelling mental images
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| show | a brief statement of the company's direction
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| In contrast to an organization's vision, its mission should | show 🗑
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| An organization's mission statement and vision statement set the overall direction of the organization. Strategic objectives | show 🗑
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| Successful organizations are effective in motivating people. Employees work best when | show 🗑
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| show | nonfinancial strategic objective
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| show | help resolve conflicts through their common purpose.
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