Question 1

In large organizations,conflicts can arise between functional areas.In order to resolve these conflicts,strategic objectives

Accepted Answer

A)   put financial objectives above human considerations.
B)   align departments toward departmental goals.
C)   help resolve conflicts through their common purpose.
D)   cause debate and increase conflict.E) A) and D)
F) A) and C)

Question 2

Social responsibility is the idea that organizations are not only accountable to stockholders but also to the community-at-large.

Accepted Answer

A) True 
 B)False

Question 3

Objectives in organizations should be clear,stated,and known by employees throughout the organization.

Accepted Answer

A) True 
 B)False

Question 4

Strategy formulation at the business level addresses best how to compete in a given business:

Accepted Answer

A)   to attain competitive advantage
B)   to reduce costs
C)   to decrease buyer power
D)   to thwart entry of new rivalsE) All of the above
F) B) and C)

Question 5

Sustainability programs often find their success beyond company boundaries,thus ______ systems and _____ metrics cannot capture all of the relevant numbers.

Accepted Answer

A)   external; bio
B)   internal; process
C)   external; external
D)   internal; internalE) B) and C)
F) A) and C)

Question 6

According to Henry Mintzberg,a management scholar,most firms realize their original intended strategy.

Accepted Answer

A) True 
 B)False

Question 7

The intangible benefits of sustainability projects,such as reducing risks,staying ahead of regulations,pleasing communities,and enhancing employee morale,are substantial even when they are difficult to quantify.

Accepted Answer

A) True 
 B)False

Question 8

Making trade-off decisions between effectiveness and efficiency is central to the practice of strategic management.

Accepted Answer

A) True 
 B)False

Question 9

In strategic management,both the short-term and long-term perspectives need to be considered because

Accepted Answer

A)   shareholder value is only measured by short-term returns.
B)   shareholders only care about long-term returns.
C)   long-term vision precludes the analysis of present operating needs.
D)   the creative tension between the two forces managers to develop more successful strategy.E) All of the above
F) A) and B)

Question 10

According to the text,a mission statement is an overarching statement that is massively inspiring,long term,and only discusses the purpose of the company.

Accepted Answer

A) True 
 B)False

Question 11

Many of the benefits from sustainability projects are intangible,making it difficult to calculate the ROI.

Accepted Answer

A) True 
 B)False

Question 12

A key stakeholder group that appears to be particularly susceptible to corporate social responsibility (CSR)initiatives is customers.

Accepted Answer

A) True 
 B)False

Question 13

Local line leaders have __________ responsibility.

Accepted Answer

A)   local
B)   executive
C)   profit-and-loss
D)   noE) All of the above
F) B) and C)

Question 14

Corporate level strategy focuses on what businesses to compete in and

Accepted Answer

A)   how business can be managed to achieve synergy.
B)   how business can be managed to reduce synergy.
C)   how the firm can work as a stand-alone entity.
D)   how the firm can create more value by operating alone.E) A) and C)
F) A) and D)

Question 15

Leadership is a necessary (but not sufficient) condition for organizational success.Leaders should emerge at which level(s) of an organization?

Accepted Answer

A)   only at the top
B)   in the middle
C)   throughout the organization
D)   only during times of changeE) A) and C)
F) A) and B)

Question 16

The three primary participants in corporate governance are: (1)the shareholders, (2)the management (led by the chief executive officer),and (3)the employees.

Accepted Answer

A) True 
 B)False

Question 17

The Clorox Green Works line of plant-based cleaning materials captured 42 percent of the natural cleaning products market in its first year.This is an example of the benefit of

Accepted Answer

A)   sustainability efforts.
B)   cost reduction efforts.
C)   marketing programs.
D)   process management.E) All of the above
F) A) and C)

Question 18

Environmental sustainability is a value embraced by the most competitive and successful multinational companies.

Accepted Answer

A) True 
 B)False

Question 19

Strategic objectives are more specific than vision statements.

Accepted Answer

A) True 
 B)False

Question 20

Strategic management consists of the analyses,decisions,and actions an organization undertakes in order to create and sustain competitive advantages.

Accepted Answer

A) True 
 B)False

Exam 1: Strategic Management: Creating Competitive Advantages

Sustainability programs often find their success beyond company boundaries,thus ______ systems and _____ metrics cannot capture all of the relevant numbers.

Correct AnswerverifiedShow Answer

Strategy formulation at the business level addresses best how to compete in a given business:

Correct AnswerverifiedShow Answer

According to Henry Mintzberg,a management scholar,most firms realize their original intended strategy.

Correct AnswerverifiedShow Answer

In strategic management,both the short-term and long-term perspectives need to be considered because

Correct AnswerverifiedShow Answer

Many of the benefits from sustainability projects are intangible,making it difficult to calculate the ROI.

Correct AnswerverifiedShow Answer

Leadership is a necessary (but not sufficient) condition for organizational success.Leaders should emerge at which level(s) of an organization?

Correct AnswerverifiedShow Answer

A key stakeholder group that appears to be particularly susceptible to corporate social responsibility (CSR)initiatives is customers.

Correct AnswerverifiedShow Answer

Environmental sustainability is a value embraced by the most competitive and successful multinational companies.

Correct AnswerverifiedShow Answer

Corporate level strategy focuses on what businesses to compete in and

Correct AnswerverifiedShow Answer

Making trade-off decisions between effectiveness and efficiency is central to the practice of strategic management.

Correct AnswerverifiedShow Answer

The intangible benefits of sustainability projects,such as reducing risks,staying ahead of regulations,pleasing communities,and enhancing employee morale,are substantial even when they are difficult to quantify.

Correct AnswerverifiedShow Answer

In large organizations,conflicts can arise between functional areas.In order to resolve these conflicts,strategic objectives

Correct AnswerverifiedShow Answer

The three primary participants in corporate governance are: (1)the shareholders, (2)the management (led by the chief executive officer),and (3)the employees.

Correct AnswerverifiedShow Answer

Objectives in organizations should be clear,stated,and known by employees throughout the organization.

Correct AnswerverifiedShow Answer

Strategic management consists of the analyses,decisions,and actions an organization undertakes in order to create and sustain competitive advantages.

Correct AnswerverifiedShow Answer

Strategic objectives are more specific than vision statements.

Correct AnswerverifiedShow Answer

Local line leaders have __________ responsibility.

Correct AnswerverifiedShow Answer

Social responsibility is the idea that organizations are not only accountable to stockholders but also to the community-at-large.

Correct AnswerverifiedShow Answer

According to the text,a mission statement is an overarching statement that is massively inspiring,long term,and only discusses the purpose of the company.

Correct AnswerverifiedShow Answer

The Clorox Green Works line of plant-based cleaning materials captured 42 percent of the natural cleaning products market in its first year.This is an example of the benefit of

Correct AnswerverifiedShow Answer

Sustainability programs often find their success beyond company boundaries,thus __ systems and _ metrics cannot capture all of the relevant numbers.

Correct Answer
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