Question 1

We want to be the top-ranked supplier to our customers.(PPG) This is an example of a

Accepted Answer

A)   nonfinancial strategic objective.
B)   financial strategic objective.
C)   vision statement.
D)   mission statement.E) None of the above
F) B) and C)

Question 2

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

Accepted Answer

A)   quality and profitability
B)   sustainability and profitability
C)   ROI and quality
D)   availability and ROIE) All of the above
F) B) and C)

Question 3

Effectiveness is often defined as

Accepted Answer

A)   doing things right.
B)   stakeholder satisfaction.
C)   doing the right thing.
D)   productivity enhancement.E) A) and C)
F) B) and D)

Question 4

Effective vision statements include

Accepted Answer

A)   all strategic directions of the organization.
B)   a brief statement of the company's direction.
C)   strategic posturing and future objectives.
D)   financial objectives and projected figures.E) A) and B)
F) A) and C)

Question 5

All successful firms compete and outperform their rivals by developing bases for competitive advantage,which can be achieved only through cost leadership.

Accepted Answer

A) True 
 B)False

Question 6

The text argues that a strategic perspective in an organization should be emphasized

Accepted Answer

A)   at the top of the organization.
B)   at the middle of the organization.
C)   throughout the organization.
D)   from the bottom up.E) A) and B)
F) A) and C)

Question 7

Sustainability projects often require shorter-term payback windows than other projects.

Accepted Answer

A) True 
 B)False

Question 8

Strategy formulation and implementation is a challenging ongoing process.To be effective,it should not involve

Accepted Answer

A)   the CEO and the board of directors.
B)   the board of directors, CEO, and CFO.
C)   rivals.
D)   line and staff managers.E) None of the above
F) B) and C)

Question 9

Former Chrysler vice chairman Robert Lutz observed that companies exist to serve the shareholder and create shareholder value.He insisted that the only person who owns the company is the person who paid good money for it.This is an example of a symbiotic approach to stakeholder management.

Accepted Answer

A) True 
 B)False

Question 10

Although such visions cannot be accurately measured by a specific indicator of how well they are being achieved,they do provide a fundamental statement of the __________ of an organization.

Accepted Answer

A)   values, aspirations, and goals
B)   expected returns and limitations
C)   outstanding debt
D)   credibilityE) B) and C)
F) All of the above

Question 11

Employee stakeholders are concerned with

Accepted Answer

A)   taxes, warranties, and regulations.
B)   wages, benefits, and job security.
C)   good citizenship behavior.
D)   dividends.E) All of the above
F) A) and D)

Question 12

Strategic management is not concerned with how to create competitive advantage in the marketplace.

Accepted Answer

A) True 
 B)False

Question 13

Many organizations have a large number of functional areas with very diverse and sometimes competing interests.Such organizations will be most effective if

Accepted Answer

A)   each functional area focuses on achieving their own goals.
B)   goals are defined at the bottom and implemented at the top.
C)   functional areas work together to attain overall goals.
D)   management and employees have separate goals.E) B) and C)
F) A) and D)

Question 14

Internal networks generate their power through the _____________ of their ideas.

Accepted Answer

A)   validity and correctness
B)   conviction and clarity
C)   validation and recognition
D)   approval and awarenessE) A) and B)
F) B) and C)

Question 15

Stakeholders are

Accepted Answer

A)   a new way to describe stockholders.
B)   individuals, groups, and organizations who have a stake in the success of the organization.
C)   creditors who hold a lien on the assets of the organization.
D)   attorneys and their clients who sue the organization.E) None of the above
F) B) and C)

Question 16

Traditional financial models are built around relatively easy-to-measure,monetized results; whereas,the benefits of sustainability projects involve

Accepted Answer

A)   clear tangibles.
B)   clear intangibles.
C)   fuzzy tangibles.
D)   fuzzy intangibles.E) All of the above
F) B) and C)

Question 17

Focusing on the short term and efficiency is always a bad management principle.

Accepted Answer

A) True 
 B)False

Question 18

Procter and Gamble developed a laundry detergent compaction technique that appeals to consumers,retailers,shipping and wholesalers,and environmentalists.This is an example of stakeholder symbiosis.

Accepted Answer

A) True 
 B)False

Question 19

Demands for greater corporate responsibility have accelerated today.They focus on issues such as

Accepted Answer

A)   labor standards and environmental sustainability.
B)   taxation.
C)   product benefits.
D)   service benefits.E) A) and B)
F) A) and C)

Question 20

As a stakeholder group,creditors are interested in taxes and compliance with regulations.

Accepted Answer

A) True 
 B)False

Exam 1: Strategic Management: Creating Competitive Advantages

Internal networks generate their power through the _____________ of their ideas.

Correct AnswerverifiedShow Answer

The text argues that a strategic perspective in an organization should be emphasized

Correct AnswerverifiedShow Answer

As a stakeholder group,creditors are interested in taxes and compliance with regulations.

Correct AnswerverifiedShow Answer

Former Chrysler vice chairman Robert Lutz observed that companies exist to serve the shareholder and create shareholder value.He insisted that the only person who owns the company is the person who paid good money for it.This is an example of a symbiotic approach to stakeholder management.

Correct AnswerverifiedShow Answer

Demands for greater corporate responsibility have accelerated today.They focus on issues such as

Correct AnswerverifiedShow Answer

Focusing on the short term and efficiency is always a bad management principle.

Correct AnswerverifiedShow Answer

We want to be the top-ranked supplier to our customers.(PPG) This is an example of a

Correct AnswerverifiedShow Answer

Strategy formulation and implementation is a challenging ongoing process.To be effective,it should not involve

Correct AnswerverifiedShow Answer

All successful firms compete and outperform their rivals by developing bases for competitive advantage,which can be achieved only through cost leadership.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Stakeholders are

Correct AnswerverifiedShow Answer

Effective vision statements include

Correct AnswerverifiedShow Answer

Procter and Gamble developed a laundry detergent compaction technique that appeals to consumers,retailers,shipping and wholesalers,and environmentalists.This is an example of stakeholder symbiosis.

Correct AnswerverifiedShow Answer

Many organizations have a large number of functional areas with very diverse and sometimes competing interests.Such organizations will be most effective if

Correct AnswerverifiedShow Answer

Strategic management is not concerned with how to create competitive advantage in the marketplace.

Correct AnswerverifiedShow Answer

Sustainability projects often require shorter-term payback windows than other projects.

Correct AnswerverifiedShow Answer

Effectiveness is often defined as

Correct AnswerverifiedShow Answer

Employee stakeholders are concerned with

Correct AnswerverifiedShow Answer

Traditional financial models are built around relatively easy-to-measure,monetized results; whereas,the benefits of sustainability projects involve

Correct AnswerverifiedShow Answer

Although such visions cannot be accurately measured by a specific indicator of how well they are being achieved,they do provide a fundamental statement of the __________ of an organization.

Correct AnswerverifiedShow Answer

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