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Exam 1: Strategic Management: Creating Competitive Advantages

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Question 61

Multiple Choice

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The organizational versus the individual rationality perspective suggests that objectives that are

A) good for a functional area are always good for the overall organization.
B) good for the overall organization are always best for a functional area.
C) best for a functional area may not be best for the overall organization.
D) best for one functional area will never be best for all functional areas.

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Question 62

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__________ may be considered the advance work that must be done in order to effectively formulate and implement strategies.

A) Goal setting
B) Corporate entrepreneurship
C) Strategy analysis
D) Organizational design

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Question 63

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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.

Strategy analysis is the study of the external environments of the firm.

As a stakeholder group,customers are interested in dividends and capital appreciation.

Effective leaders set a direction and develop an organization so that it is committed to excellence and ___________ behavior.

The ROI on a sustainability project generally is easy to quantify.

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

Strategic management is concerned with the analysis of strategic goals as stated in the vision,mission,and strategic objectives of a firm.

Entering foreign markets requires firms to ascertain foremost how they will attain

According to the external control view of leadership,which of the following factors would not be considered an external factor that might positively or negatively affect a firm's success?

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

What constitutes socially responsible behavior changes over time.

Wall Street executives have received excessive bonus pay in the past.This concerns which of the following stakeholder groups most directly?

Only shareholders in a publicly held company are stakeholders because they are the only group that has a stake in the success of the organization.

Peter Senge,of MIT,recognized three types of leaders.These individuals champion and guide ideas,create a learning infrastructure,and establish a domain for taking action.

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.

Vision statements are used to create a better understanding of the overall purpose and direction of the organization.Vision statements

While working to prioritize and fulfill their responsibilities,members of the board of directors of an organization should

Members of boards of directors are