Strategic Management Creating Competitive Advantages

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Strategic Management Creating Competitive Advantages
Analyzing the External Environment of the Firm Creating Competitive Advantages
Assessing the Internal Environment of the Firm
Recognizing a Firm's Intellectual Assets Moving beyond a Firm's Tangible Resources
Business-Level Strategy Creating and Sustaining Competitive Advantages
Corporate-Level Strategy Creating Value through Diversification
International Strategy Creating Value in Global Markets
Entrepreneurial Strategy and Competitive Dynamics
Strategic Control and Corporate Governance
Creating Effective Organizational Designs
Strategic Leadership Creating a Learning Organization and an Ethical Organization
Managing Innovation and Fostering Corporate Entrepreneurship

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Question 1

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True/False

Lands' End's failure under the leadership of Ms. Frederica Marchionni was said to be a direct result of the quality of her leadership. According to the text, this would be an example ofthe"romantic" perspective of leadership.

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Question 2

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True/False

Strategic management consists of the analyses, decisions, and actions an organization undertakes in order to create and sustain competitive advantages.

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Question 3

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True/False

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

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Question 4

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True/False

Trade-off decisions between effectiveness and efficiency are important in the practice of strategic management.

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Question 5

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True/False

According to Henry Mintzberg, a management scholar, most firms do not realize their original intended strategy.

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Question 6

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The final realized strategy of a firm is a combination of deliberate and time-tested strategies only.

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Question 7

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Strategy analysis is the study of only the big picture external environments of the firm.

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Question 8

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All successful firms compete and outperform their rivals by developing bases for competitive advantage, which can be achieved only through cost leadership.

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Question 9

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Decisions by boards of directors are always consistent with shareholder interests.

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Question 10

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Ensuring effective corporate governance requires an effective and engaged board of directors, uninvolved shareholders, and proper managerial rewards and incentives.

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Question 11

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Social responsibility is the idea that organizations are only accountable to stockholders.

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Question 12

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Shell, NEC, and Procter and 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.

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Question 13

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Sustainability is being increasingly recognized as a source of cost efficiencies and revenue growth.

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Question 14

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Strategic management requires managers at all levels of the organization to take a segregated view of the organization.

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Question 15

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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 strategies of the organization.

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Question 16

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Richard Branson, the founder of the Virgin Group, is well known for creating an inclusive organizational structure in which anybody in the organization can be involved in generating and acting on new business ideas.

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Question 17

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The vision of an organization is at the top level of its hierarchy of organizational goals. The vision statement should be massively inspiring, overarching, and long term.

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Question 18

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Much research has supported the notion that individuals work much harder when they are asked to do their best rather than when they are striving toward a specific goal.

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Question 19

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An idealistic vision can arouse employee enthusiasm and therefore is a good vision.

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Question 20

Multiple Choice

The text addresses two perspectives of leadership as well as their implications. These two perspectives are

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romantic and unromantic.

romantic and internal control.

external control and unromantic.

romantic and external control.

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