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Exam 1: Strategic Management: Creating Competitive Advantages

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Question 1

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In strategic management,both the short-term and long-term perspectives need to be considered because

A) shareholder value is only measured by short-term returns.
B) shareholders only care about long-term returns.
C) long-term vision precludes the analysis of present operating needs.
D) the creative tension between the two forces managers to develop more successful strategy.

E) C) and D)
F) B) and D)

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Question 2

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According to a CEO survey by Accenture,________ are not mutually exclusive corporate goals.

A) quality and profitability
B) sustainability and profitability
C) ROI and quality
D) availability and ROI

E) A) and D)
F) A) and C)

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Question 3

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The ROI on sustainability efforts can be difficult to quantify because

In large organizations,conflicts can arise between functional areas.In order to resolve these conflicts,strategic objectives

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

Using Apple,Alphabet,or Microsoft,explain how strategic management has led the company to industry dominance.Discuss the vision/mission of the company,its corporate objectives,and the leadership qualities that support this company's strategy.Be sure to use specific numerical outcomes as proof of your evaluation.

According to the text,the strategic management process entails three ongoing processes.They are

Strategic management involves the recognition of trade-offs between effectiveness and

Sustainability programs often find their success beyond company boundaries,thus ________ systems and ________ metrics cannot capture all of the relevant numbers.

According to the text,the triple bottom line approach to corporate accounting includes which three components?

The innovation paradox implies that consistency in products and services provokes a tension with the need for new products.This results in a conflict between

Peter Senge,of MIT,recognized three types of leaders.________ are individuals that,although having little positional power and formal authority,generate their power through the conviction and clarity of their ideas.

Procter and Gamble has perfected a technique for compacting cleaning powder into a liquid concentration.Consumers,retailers,shipping and wholesalers,and environmentalists all have benefited from the resulting change in consumer shopping habits and the revolution in industry supply-chain economics.According to the text,this is an example of

Our goal is to help save 100,000 more lives each year.(Varian Medical Systems) This is an example of a

Explain how corporate governance mechanisms are used in the strategic management process.Illustrate the role of each stakeholder with industry examples.

A key stakeholder group that is particularly susceptible to corporate social responsibility (CSR) initiatives is

In the interview with Admiral William H.McRaven,he suggests that several duties,responsibilities and organizational relationships are similar between his military career activity and his role as chancellor.He says that he is a servant leader.Which of the following lessons is not one from his military career?

Richard Branson of the Virgin Group believes that the ________ of a person should not dictate the level of influence their ideas should be accorded.

An organization is responsible to many different entities.In order to meet the demands of these groups,organizations must participate in stakeholder management.Stakeholder management means that

Ambidextrous behaviors in individuals illustrate how a dual capacity for ________ can be woven into the fabric of an organization at the individual level.