Question 1

As a part of strategy formulation, a firm's functional strategy primarily concerns questions relating to:

Accepted Answer

A)   where to compete.
B)   when to compete.
C)   how to implement business strategy.
D)   how to enter target markets.E) A) and C)
F) None of the above

Question 2

Briefly discuss the stages of scenario planning.

Accepted Answer

Scenario planning can be explained with ...

Question 3

When do employees fail to adopt the organizational values of a firm?

Accepted Answer

A)   When the internal stakeholders of the firm are involved in designing the values
B)   When the top managers in the firm are merely paying lip service to the firm's stated values
C)   When the strategic leaders in the firm propagate and exhibit the same values
D)   When the organizational structure, such as its strategic decision making, is aligned with its valuesE) A) and B)
F) B) and D)

Question 4

According to the upper-echelons theory, the organizational outcomes of a company primarily reflect the values of the _____.

Accepted Answer

A)   production workers in the company
B)   CEO of the company
C)   housekeeping staff in the company
D)   external stakeholders of the companyE) C) and D)
F) A) and C)

Question 5

Scenario planning typically begins with managers:

Accepted Answer

A)   developing different strategic plans to address possible future scenarios.
B)   building a portfolio of future strategic options.
C)   executing a dominant strategic plan.
D)   brainstorming to identify multiple plausible futures.E) B) and D)
F) All of the above

Question 6

Due to political instability in the country of United Mapa, the strategic leaders at the headquarters of FT Supplies Inc.have decided to divest the company's business from the foreign market in United Mapa.This decision would be applicable to all the business units of FT Supplies Inc.operating in United Mapa.Thus, this is a _____.

Accepted Answer

A)   business strategy
B)   divisional strategy
C)   functional strategy
D)   corporate strategyE) C) and D)
F) A) and B)

Question 7

Orange Synergy Inc.is a company that manufactures a variety of products that run on solar power.The company wants to ensure that solar technology replaces all forms of exhaustible energy sources in the near future.Which of the following statements will make an accurate vision for Orange Synergy?

Accepted Answer

A)   We make products that run on solar energy.
B)   All nations around the globe should have access to a sustainable energy source.
C)   The company aims to make working fun and pleasurable for its employees.
D)   We provide energy-efficient sources and services by investing in research and innovation.E) C) and D)
F) B) and D)

Question 8

Organizational values help individuals make choices that are:

Accepted Answer

A)   legal but unethical.
B)   both illegal.
C)   both ethical and effective in advancing a company's goals.
D)   ethical but ineffective in achieving long-term success.E) A) and B)
F) None of the above

Question 9

What does the upper-echelons theory propagate?

Accepted Answer

According to the upper-echelons theory, ...

Question 10

The critics of top-down strategic planning and scenario planning argue that:

Accepted Answer

A)   the strategies developed through these approaches are primarily based on an inspirational vision and not on hard data.
B)   these approaches do not believe that we can predict the future from the past.
C)   the development of strategies through these approaches is highly dependent on experience of front-line employees.
D)   these approaches do not allow for the necessary strategic thinking.E) None of the above
F) A) and B)

Question 11

T & R Autos Inc.is a large conglomerate that operates in 12 different countries.The corporate executives at the headquarters have decided that the company's objective for the next two years will be to increase its customer equity.Based on this guideline received from the top management team, the product leader of the home appliances division has decided to adopt a cost leadership strategy in all his 12 units.Thus, the decision made by the product leader best illustrates a _____.

Accepted Answer

A)   corporate strategy
B)   functional strategy
C)   grand strategy
D)   business strategyE) A) and C)
F) None of the above

Question 12

A company uses the planned emergence approach in the development of its strategies.Which of the following is an implication of this?

Accepted Answer

A)   The employees will be isolated from the process of setting the company's vision and mission.
B)   The lower-level employees will be restricted to the tasks involved in strategic implementation.
C)   The company's organizational structure and systems will be designed to support bottom-up strategic initiatives.
D)   The top management will create a strategy that is based on hard data alone, rather than an inspiring vision.E) A) and D)
F) B) and D)

Question 13

The _____ is a conceptual framework that views organizational outcomes-strategic choices and performance levels-as reflections of the values of the members of the top management team, who interpret situations through the lens of their unique perspectives.

Accepted Answer

A)   two-factor theory
B)   expectancy theory
C)   upper-echelons theory
D)   value orientation theoryE) A) and B)
F) A) and C)

Question 14

Strategic leadership pertains to the use of power and influence by _____ to direct the activities of others when pursuing an organization's goals.

Accepted Answer

A)   production workers
B)   lower-level managers
C)   external stakeholders
D)   corporate executivesE) A) and B)
F) A) and C)

Question 15

Why is it important for top management of a company to show commitment and involvement toward organizational values?

Accepted Answer

Without commitment and involvement from ...

Question 16

Who is responsible for strategic formulation at functional levels in a business?

Accepted Answer

Within each strategic business unit are ...

Question 17

A positive relationship between vision statements and firm performance is more likely to exist when:

Accepted Answer

A)   visions are product-oriented.
B)   internal stakeholders are isolated from defining and revising the visions.
C)   organizational structures are aligned with the firm's vision statement.
D)   vision statements are equivalent to listening to the customers.E) All of the above
F) A) and C)

Question 18

Unplanned strategic initiatives taken by the _____ within an organization will be referred to as an emergent strategy.

Accepted Answer

A)   suppliers and vendors of the organization
B)   shareholders of the organization
C)   team leads of project teams in the organization
D)   corporate executives in the organization's headquartersE) All of the above
F) A) and D)

Question 19

Pioneer Pharma Inc.and GH Medicines Corp.are two competing firms in the pharmaceutical industry.While Pioneer Pharma Inc.'s vision is "to be a preeminent drug manufacturer in the industry," GH Medicines Corp.'s vision is "to make good health a reality for everyone around the world." Which of the following is an implication of these different visions?

Accepted Answer

A)   GH Medicines's vision is more product-oriented than the vision of Pioneer Pharma.
B)   Pioneer Pharma is more likely to have a positive relationship between its vision and firm performance than GH Medicines.
C)   Pioneer Pharma's vision is more long-term and futuristic than GH Medicines's vision.
D)   GH Medicines will be more flexible than Pioneer Pharma when adapting to changing environments.E) A) and B)
F) A) and C)

Question 20

Strategic flexibility is achieved when managers:

Accepted Answer

A)   choose to keep their vision statements more product-oriented rather than customer-oriented.
B)   respond to reality changes by activating alternate dominant plans or modifying the old plan.
C)   implement static top-down strategic planning approach to the development of strategy.
D)   overlook pessimistic future scenarios and only prepare for optimistic futures.E) A) and D)
F) A) and C)

Exam 2: Strategic Leadership: Managing the Strategy Process

A company uses the planned emergence approach in the development of its strategies.Which of the following is an implication of this?

Correct Answer
verified

As a part of strategy formulation, a firm's functional strategy primarily concerns questions relating to:

Correct Answer
verified

The _____ is a conceptual framework that views organizational outcomes-strategic choices and performance levels-as reflections of the values of the members of the top management team, who interpret situations through the lens of their unique perspectives.

Correct Answer
verified

Correct Answer
verified

Orange Synergy Inc.is a company that manufactures a variety of products that run on solar power.The company wants to ensure that solar technology replaces all forms of exhaustible energy sources in the near future.Which of the following statements will make an accurate vision for Orange Synergy?

Correct Answer
verified

Why is it important for top management of a company to show commitment and involvement toward organizational values?

Correct Answer
verified
Without commitment and involvement from ...
View Answer

A positive relationship between vision statements and firm performance is more likely to exist when:

Correct Answer
verified

Scenario planning typically begins with managers:

Correct Answer
verified

Strategic leadership pertains to the use of power and influence by _____ to direct the activities of others when pursuing an organization's goals.

Correct Answer
verified

According to the upper-echelons theory, the organizational outcomes of a company primarily reflect the values of the _____.

Correct Answer
verified

When do employees fail to adopt the organizational values of a firm?

Correct Answer
verified

Who is responsible for strategic formulation at functional levels in a business?

Correct Answer
verified
Within each strategic business unit are ...
View Answer

Correct Answer
verified

The critics of top-down strategic planning and scenario planning argue that:

Correct Answer
verified

Organizational values help individuals make choices that are:

Correct Answer
verified

Correct Answer
verified

Unplanned strategic initiatives taken by the _____ within an organization will be referred to as an emergent strategy.

Correct Answer
verified

What does the upper-echelons theory propagate?

Correct Answer
verified
According to the upper-echelons theory, ...
View Answer

Briefly discuss the stages of scenario planning.

Correct Answer
verified
Scenario planning can be explained with ...
View Answer

Strategic flexibility is achieved when managers:

Correct Answer
verified

Exam 2: Strategic Leadership: Managing the Strategy Process

A company uses the planned emergence approach in the development of its strategies.Which of the following is an implication of this?

Correct AnswerverifiedShow Answer

As a part of strategy formulation, a firm's functional strategy primarily concerns questions relating to:

Correct AnswerverifiedShow Answer

The _____ is a conceptual framework that views organizational outcomes-strategic choices and performance levels-as reflections of the values of the members of the top management team, who interpret situations through the lens of their unique perspectives.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Orange Synergy Inc.is a company that manufactures a variety of products that run on solar power.The company wants to ensure that solar technology replaces all forms of exhaustible energy sources in the near future.Which of the following statements will make an accurate vision for Orange Synergy?

Correct AnswerverifiedShow Answer

Why is it important for top management of a company to show commitment and involvement toward organizational values?

Correct AnswerverifiedWithout commitment and involvement from ...View AnswerShow Answer

A positive relationship between vision statements and firm performance is more likely to exist when:

Correct AnswerverifiedShow Answer

Scenario planning typically begins with managers:

Correct AnswerverifiedShow Answer

Strategic leadership pertains to the use of power and influence by _____ to direct the activities of others when pursuing an organization's goals.

Correct AnswerverifiedShow Answer

According to the upper-echelons theory, the organizational outcomes of a company primarily reflect the values of the _____.

Correct AnswerverifiedShow Answer

When do employees fail to adopt the organizational values of a firm?

Correct AnswerverifiedShow Answer

Who is responsible for strategic formulation at functional levels in a business?

Correct AnswerverifiedWithin each strategic business unit are ...View AnswerShow Answer

Correct AnswerverifiedShow Answer

The critics of top-down strategic planning and scenario planning argue that:

Correct AnswerverifiedShow Answer

Organizational values help individuals make choices that are:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Unplanned strategic initiatives taken by the _____ within an organization will be referred to as an emergent strategy.

Correct AnswerverifiedShow Answer

What does the upper-echelons theory propagate?

Correct AnswerverifiedAccording to the upper-echelons theory, ...View AnswerShow Answer

Briefly discuss the stages of scenario planning.

Correct AnswerverifiedScenario planning can be explained with ...View AnswerShow Answer

Strategic flexibility is achieved when managers:

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Without commitment and involvement from ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Within each strategic business unit are ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
According to the upper-echelons theory, ...
View Answer

Correct Answer
verified
Scenario planning can be explained with ...
View Answer

Correct Answer
verified