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Exam 12: Leadership Implications for Strategy

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Question 71

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The CEO of YorkMark, Inc., has an exceptional amount of power in the organization. It is likely the board of directors is composed of sympathetic outside members and insiders who report to the CEO.

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Question 72

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As the dynamics of competition accelerate, people are perhaps the only truly sustainable source of competitive advantage.

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Question 73

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Firms needing to change their strategies should

An example of the external labor market is the situation where

The effective development and management of the firm's ____ may be its only sustainable competitive advantage.

The Enron employee who reported the financial manipulations at the company to her superiors can be considered to have engaged in

Which of the following is NOT one of the four perspectives in the balanced scorecard framework?

An emphasis on strategic controls encourages managers to be risk averse.

Which of the following will increase the probability that a lower-level manager will become a successful strategic leader?

Because of the current changing competitive landscape and varying levels of performance, an increasing number of boards of directors are turning to insiders to succeed CEOs.

Alibaba is likely to experience loss of trust only in the short run because it took swift action once it discovered fraud by the sellers who used its` web site (Chapter 12 Strategic Focus).

Top management team members and CEOs who have long tenure on the team and in the organization have greater influence in board decisions.

Managerial actions that support development of an ethical organizational culture include all of the following EXCEPT

Billy Kroghmen is the son of a very prominent Fortune 500 CEO. Billy has had troubles. He failed out of multiple colleges, universities, and correspondence schools. He finally received his undergraduate degree from a university with only a post office box for an address. He then enrolled in the school's combined graduate accounting and law school programs, graduating with honor with degrees in both areas. After graduation, he twice failed both the CPA and bar exams, managing to set record low scores on the ethics portions of both. Despite these academic setbacks, Billy's career now seems to be thriving. He has been appointed to a number of "blue ribbon" government committees, is on the board of directors of two corporations and one prestigious not-for-profit organization. In at least one instance, a donor credited Billy with the idea for making a large contribution to the not-for-profit. Widespread speculation is that his career advancement is based largely on social relationships through friends and family. We would classify Billy as ____ on ____ capital, and ____ on ____ capital.

GM's newest CEO, Dan Akerson, is building new capabilities in technology development and marketing, especially in customer service. This is an example of a CEO developing a dynamic capability as part of the key leadership action " Developing Human Capital and Social Capital."

Determining the strategic direction of a firm involves

According to the Chapter 12 Strategic Focus, Apple had a succession plan for Steve Jobs which was developed before he took his first medical leave.

The goal of investing in human capital is to

Case Scenario 2: Yepsen Timber Farms, Inc. Yepsen Timber Farms, Inc., (YTF) was started around 1933 by Danish immigrants. The firm's primary operations were timber harvesting on several thousand acres in Oregon acquired in part under the Homestead Act, and in part through direct purchase. The firm was founded, initially as a partnership, between brothers Mogens and John (Jack) Yepsen. The Yepson brothers were among the first four graduates at Oregon Agricultural College (now Oregon State University), worked for the forest service and private industry in Oregon for a number of years, then quit their respective jobs to manage the forest they had been developing for a number of years. While timber is considered a low-tech type business, Mogens and Jack were very innovative from the standpoint that they established "tree farms," that is, harvesting then replanting acreage so that it would yield timber on a sustainable basis. At the time, and in certain parts of the world to this day, timber lands were typically "clear cut" where all the trees were stripped from a property, then the timber harvester simply moved to another parcel. This practice left thousands of acres barren, and often damaged valuable animal habitats and watershed. The brothers also introduced hybrid Pine and Douglas Fir trees that grew considerably faster than the native forest stock. These factors allowed them to grow trees that would be ready for market in 25 years, about half the time of that required to grow native trees. The brothers' idea about regeneration, care for the environment, and hybridization defined the YTF business. Never would land be harvested faster than it could replenish itself, or in a manner that threatened habitats or watersheds. Eventually, Mogens and Jack passed on and their only surviving children, Marjorie, Mary Jane, Burton, and Betty inherited the property. Two of these heirs took a strong interest in further building the portfolio of Oregon properties, and also converted the holdings to an S-Corp. to allow for the distribution of ownership and earnings to their own children. Under their guidance, YTF was tremendously successful and garnered much community acclaim for its sustainable farming practices. Now, the four siblings are in their 70s and few of their children have expressed much interest in managing the extensive portfolio of timber holdings. Among those that have expressed an interest, some are very knowledgeable about forestry, while others have a track record of incompetence and self-promotion. At the same time, ownership is now spread among some 40 children, nieces, nephews, and grandchildren of the four siblings. Many of these individuals' only interest in YTF is the annual dividend check they receive. -(Refer to Case Scenario 2) How important is this culture to the future success of YTF?

Employees usually have a strong preference for firms to use the internal managerial labor market when selecting top management team members and the CEO.