Question 1

The value created by a firm is distributed among a number of stakeholders.

Accepted Answer

A) True 
 B)False

Question 2

The critical outcome measure of strategy is:

Accepted Answer

A)   Customer retention
B)   Performance
C)   Employee turnover
D)   Environmental sustainability

Question 3

To what extent should a firm be committed to a particular strategy versus making frequent changes in the strategy?

Accepted Answer

.Strategy is way of being able to antici...

Question 4

What are the four general ways of approaching strategic tensions?

Accepted Answer

.As a puzzle. A strategy tension that is...

Question 5

Most organizations do not operate in dynamic environments therefore they can assume their strategic plans will be implemented as they are written.

Accepted Answer

A) True 
 B)False

Question 6

The strategic management process is:

Accepted Answer

A)   A set of activities that will assure a sustainable competitive advantage and above-average returns for the firm
B)   A decision-making activity concerned with a firm's internal resources, capabilities, and competencies, independent of the conditions in its external environment
C)   A process directed by top-management with input from other stakeholders that seeks to achieve above-average returns for investors through effective use of the organization's resources
D)   The full set of commitments, decisions, and actions required for the firm to achieve above-average returns and strategic competitiveness

Question 7

Average returns are returns in excess of what an investor expects to earn from other investments with a similar amount of risk.

Accepted Answer

A) True 
 B)False

Question 8

What is the difference between deliberate and emergent strategies?

Accepted Answer

.The traditional school of thought conce...

Question 9

Strategy is the overall concept for how a company organizes itself and its activities to conduct business successfully,deliver superior returns to shareholders,and outperform rivals.

Accepted Answer

A) True 
 B)False

Question 10

Strategic thinking is an activity that:

Accepted Answer

A)   Involves shareholders shaping the way strategic leaders create strategy
B)   Involves assessing the internal strengths of an organization
C)   Involves pursuing a competitive advantage within an industry
D)   Involves managers considering how they should organize their thinking to achieve a successful strategic reasoning process

Question 11

Define strategic competitiveness and above-average returns.What is the relationship between strategic competitiveness and returns on investment?

Accepted Answer

.Strategic competitiveness is achieved w...

Question 12

What are the primary aspects of the strategic management process?

Accepted Answer

.Analysis. Analysis involves the develop...

Question 13

The strategic management processes of analysis and formulation are strictly sequential: Analyses must be completed before formulation and not revisited once a strategy has begun to be created.

Accepted Answer

A) True 
 B)False

Question 14

In order to cope with hypercompetition,firms need to develop ____ through continuous learning.

Accepted Answer

A)   Competitive resilience
B)   Strategic flexibility
C)   Strategic power
D)   Competitive dominance

Question 15

The strategy context is:

Accepted Answer

A)   The external environment of the industry
B)   The set of circumstances under which both the strategy process and strategy content are determined
C)   The combination of needs expressed by stakeholder, shareholders and customers
D)   The economic environment of the country in which an organization operates

Question 16

A sound strategy is easily recognized because it is geared toward a mission of making as much money as possible.

Accepted Answer

A) True 
 B)False

Question 17

Briefly describe the two strategic imperatives with which every company must contend.

Accepted Answer

.Companies must become aware of the stra...

Question 18

One measure by which a non-profit organization might assess the effectiveness of its strategy is by looking at how well its stakeholders are served.

Accepted Answer

A) True 
 B)False

Question 19

What are the five critical questions that the field of strategy seeks to answer?

Accepted Answer

.Why are firms different? Companies shar...

Question 20

Performance measures of interest to those involved with an organization's strategy should reflect:

Accepted Answer

A)   Marketing outcomes
B)   Human resource recruiting and staffing results
C)   The company's efforts as a whole
D)   The interpretation of external analyses

Exam 1: What is Strategy

The critical outcome measure of strategy is:

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The strategy context is:

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Average returns are returns in excess of what an investor expects to earn from other investments with a similar amount of risk.

Correct AnswerverifiedShow Answer

In order to cope with hypercompetition,firms need to develop ____ through continuous learning.

Correct AnswerverifiedShow Answer

Strategic thinking is an activity that:

Correct AnswerverifiedShow Answer

What are the primary aspects of the strategic management process?

Correct Answerverified.Analysis. Analysis involves the develop...View AnswerShow Answer

The value created by a firm is distributed among a number of stakeholders.

Correct AnswerverifiedShow Answer

What are the four general ways of approaching strategic tensions?

Correct Answerverified.As a puzzle. A strategy tension that is...View AnswerShow Answer

Performance measures of interest to those involved with an organization's strategy should reflect:

Correct AnswerverifiedShow Answer

What are the five critical questions that the field of strategy seeks to answer?

Correct Answerverified.Why are firms different? Companies shar...View AnswerShow Answer

A sound strategy is easily recognized because it is geared toward a mission of making as much money as possible.

Correct AnswerverifiedShow Answer

Define strategic competitiveness and above-average returns.What is the relationship between strategic competitiveness and returns on investment?

Correct Answerverified.Strategic competitiveness is achieved w...View AnswerShow Answer

Briefly describe the two strategic imperatives with which every company must contend.

Correct Answerverified.Companies must become aware of the stra...View AnswerShow Answer

One measure by which a non-profit organization might assess the effectiveness of its strategy is by looking at how well its stakeholders are served.

Correct AnswerverifiedShow Answer

To what extent should a firm be committed to a particular strategy versus making frequent changes in the strategy?

Correct Answerverified.Strategy is way of being able to antici...View AnswerShow Answer

Strategy is the overall concept for how a company organizes itself and its activities to conduct business successfully,deliver superior returns to shareholders,and outperform rivals.

Correct AnswerverifiedShow Answer

Most organizations do not operate in dynamic environments therefore they can assume their strategic plans will be implemented as they are written.

Correct AnswerverifiedShow Answer

What is the difference between deliberate and emergent strategies?

Correct Answerverified.The traditional school of thought conce...View AnswerShow Answer

The strategic management process is:

Correct AnswerverifiedShow Answer

The strategic management processes of analysis and formulation are strictly sequential: Analyses must be completed before formulation and not revisited once a strategy has begun to be created.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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.Analysis. Analysis involves the develop...
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Correct Answer
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Correct Answer
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.As a puzzle. A strategy tension that is...
View Answer

Correct Answer
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Correct Answer
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.Why are firms different? Companies shar...
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Correct Answer
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Correct Answer
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.Strategic competitiveness is achieved w...
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Correct Answer
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.Companies must become aware of the stra...
View Answer

Correct Answer
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Correct Answer
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.Strategy is way of being able to antici...
View Answer

Correct Answer
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Correct Answer
verified

Correct Answer
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.The traditional school of thought conce...
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Correct Answer
verified

Correct Answer
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