Strategic Management: Creating Competitiveadvantages

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Strategic Management: Creating Competitiveadvantages
Analyzing the External Environment Ofthe Firm: Creating Competitive Advantages
Assessing the Internal Environmentof the Firm
Recognizing a Firms Intellectual Assets: Moving Beyond a Firms Tangibleresources
Business-Level Strategy: Creating Andsustaining Competitive Advantages
Corporate-Level Strategy: Creatingvalue Through Diversification
International Strategy: Creating Valuein Global Markets
Entrepreneurial Strategy and Competitive Dynamics
Strategic Control and Corporategovernance
Creating Effective Organizational Designs
Strategic Leadership: Creating a Learning Organization and an Ethical Organization
Managing Innovation and Fosteringcorporate Entrepreneurship

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Question 1

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The success Apple,Inc.achieved over the past decade was a direct result of the creative and forceful leadership of its late CEO,Steve Jobs.According to the text,this would be an example of the "romantic" perspective of leadership.

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Question 2

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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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The three interrelated and principal activities of strategic management are: strategy analysis,strategy formulation,and strategy implementation.

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Question 4

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According to the textbook,strategic management does not consist of the analyses that an organization undertakes in order to create and sustain competitive advantages.

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Question 5

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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 6

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Strategic management recognizes the trade-offs between effectiveness and efficiency.

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Question 7

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According to Henry Mintzberg,a management scholar,most firms realize their original intended strategy.

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Question 8

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According to the text,formulating strategy includes taking into consideration strategy at the business,corporate,and international levels.

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Question 9

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Corporate-level strategy addresses how firms compete and outperform their rivals as well as achieve and sustain competitive advantages.

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Question 10

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Effective leadership can play a large role in fostering corporate entrepreneurship.Corporate entrepreneurship can have a very positive impact on the bottom line of a firm.

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Question 11

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

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Question 12

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Former Chrysler vice chairman Robert Lutz observed that companies exist to serve the shareholder and create shareholder value.He insisted 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 to stakeholder management.

Question 13

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Stockholders in a company are the only individuals with an interest in the financial performance of the company.

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Question 14

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Stockholders,employees,and the community-at-large are among the stakeholders of a firm.

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Question 15

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Symbiosis is the ability to recognize interdependencies among the interests of multiple stakeholders within and outside an organization.

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Question 16

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Procter and Gamble developed a laundry detergent compaction technique that appeals to consumers,retailers,shipping and wholesalers,and environmentalists.This is an example of stakeholder symbiosis.

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Question 17

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Social responsibility is the idea that organizations are not only accountable to stockholders but also to the community-at-large.

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Question 18

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The concept of shared value redefines the purpose of the corporation as creating shared value in order to create a more even distribution of the profits to all employees,not just top level executives.

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Question 19

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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 20

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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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