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The first step in the strategic management process is to:


A) define a firm's vision, mission, and values.
B) understand the strategies of the competitors.
C) put the guiding policies of a firm into practice.
D) develop functional and business level strategies.

E) B) and D)
F) A) and B)

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According to the Level-5 leadership pyramid, a manager at Level 3 has acquired the ability to:


A) organize resources effectively to accomplish predetermined goals.
B) build enduring greatness into the organizations he or she leads.
C) identify the vision and the mission of the company.
D) justify unethical activities as legal and ethical.

E) B) and D)
F) None of the above

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List the methods through which strategic initiative can bubble up within an organization.

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In particular, strategic initiatives can...

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In Strategy Highlight 2.2, what type of strategy did Diana, the Starbucks store manager in southern California, use to develop the new iced beverage for her store?


A) She used a rational planning approach to strategy planning.
B) She created a dominant strategy plan.
C) She used scenario planning.
D) She used an emergent strategy.

E) All of the above
F) A) and B)

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_____ are best described as the ethical standards and norms that govern the behavior of individuals within a firm.


A) Job descriptions
B) Customs duties
C) Corrective controls
D) Organizational values

E) B) and D)
F) A) and D)

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After carefully assessing the market potential for hybrid cars, it was decided at the corporate headquarters of Unidawn Autos Inc.that the company would be launching a hybrid version of all its car models within the next two years.This would mean that each strategic business unit under the company would be involving in its own research and development efforts.Which of the following strategies in the planned emergence model does this best illustrate?


A) Intended strategy
B) Emergent strategy
C) Unrealized strategy
D) Tactical strategy

E) A) and B)
F) All of the above

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Nathan is part of a sales team.He effectively coordinates his tasks with others in the team and willingly contributes to their efforts in achieving the team's objectives.Thus, Nathan is in _____ of the Level-5 leadership pyramid.


A) Level 5
B) Level 4
C) Level 3
D) Level 2

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

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Discuss how managers progress with each level in the level-5 leadership pyramid.

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Characteristics of the five levels the l...

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As a part of strategy formulation, corporate strategy concerns questions relating to:


A) why we should compete.
B) how to compete.
C) where to compete.
D) how to implement the business strategy.

E) A) and B)
F) All of the above

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Who demonstrates strategic leadership within organizations?

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Executives whose vision and actions enab...

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What does strategic formulation in strategic management process concern?

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Strategy formulation concerns the choice...

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Strategies developed at the departmental level, such as the accounting human resource, production, and marketing departments, within a strategic business unit are referred to as _____.


A) grand strategies
B) corporate strategies
C) business strategies
D) functional strategies

E) All of the above
F) None of the above

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Discuss how strategic initiatives can bubble up from deep within a firm through autonomous actions by lower-level employees.

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Lower-level or functional managers are m...

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What makes scenario planning more flexible than top-down strategic planning?

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Similar to top-down strategic planning, ...

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Briefly describe the level-5 leadership pyramid.

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The level-5 leadership pyramid is a conc...

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What do you mean by scenario planning in the strategic management process?

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Scenario planning asks those "what if" q...

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What do you mean by planned emergence?

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A firm's realized strategy is frequently...

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The Chief Executive Officer (CEO) of PepsiCo, Indra Nooyi, subscribes to a triple-bottom-line approach to competitive advantage-considering not only economic, but also social and environmental performance.Based on this, which of the following is a mission of PepsiCo?


A) Including healthy choices in its lineup
B) Performing with a purpose
C) Focusing on only the nonalcoholic beverages line of business
D) Splitting PepsiCo into two standalone companies each focusing on beverages and snack foods respectively

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

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Which of the following statements accurately brings out the difference between top-down strategic planning and scenario planning?


A) While in top-down strategic planning a top-down approach is used to develop strategies, in scenario planning a bottom-up approach is used.
B) Scenario planning helps create strategic plans that are more flexible, and thus more effective, than those created through the more static strategic planning approach.
C) While top-down strategic planning takes place at both the corporate and business levels of strategy, scenario planning takes place only at the corporate level.
D) Top-down strategic planning addresses only pessimistic futures, whereas scenario planning addresses only optimistic futures.

E) A) and D)
F) None of the above

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Discuss the situations in which top-down strategic planning might be the most effective approach.

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In a slow-moving environment, top-down s...

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