Question 1

According to the Corporate Citizenship poll conducted by Cone Communications, most Americans say they would be likely to switch brands to one associated with a good cause, if there are similarities between

Accepted Answer

A)  price and availability.
B)  availability and quality.
C)  price and quality.
D)  price and durability.E) A) and B)
F) All of the above

Question 2

Organizational goals and objectives should be vague in order to allow for changes in strategy.

Accepted Answer

A) True 
 B)False

Question 3

Much research has supported the notion that individuals work much harder when they are asked to do their best rather than when they are striving toward a specific goal.

Accepted Answer

A) True 
 B)False

Question 4

Stockholders in a company are the only individuals with an interest in the financial performance of the company.

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

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 7

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) A) and B)
F) C) and D)

Question 8

The organizational versus the individual rationality perspective suggests that objectives that are

Accepted Answer

A)  good for a functional area are always good for the overall organization.
B)  good for the overall organization are always best for a functional area.
C)  best for a functional area may not be best for the overall organization.
D)  best for one functional area will never be best for all functional areas.E) B) and C)
F) A) and B)

Question 9

Effective organizational design means that firms must have ________ that are consistent with their strategy.

Accepted Answer

A)  designs and plans
B)  organizational structures and designs
C)  adopters and designs
D)  adopters and plansE) B) and C)
F) C) and D)

Question 10

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

Accepted Answer

A) True 
 B)False  False

Question 11

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) B) and C)
F) B) and D) A

Question 12

Strategic objectives are more specific than vision statements.

Accepted Answer

A) True 
 B)False

Question 13

One of the reasons a vision fails is that too much focus can lead to missed opportunities.

Accepted Answer

A) True 
 B)False

Question 14

Successful executives do not reward honesty and input and do not show their interest in learning what others are thinking.

Accepted Answer

A) True 
 B)False

Question 15

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) B) and C)
F) A) and D) A

Question 16

The Sustainable Apparel Coalition accounts for more than one-third of the global

Accepted Answer

A)  apparel and washing product industry.
B)  consumer product industry.
C)  refinery industry.
D)  apparel and footwear industry.E) All of the above
F) A) and B)

Question 17

To inculcate a strategic management perspective, managers must often make a major effort to effect transformational change.

Accepted Answer

A) True 
 B)False

Question 18

Methods by which successful executives show their interest in learning what others are thinking include

Accepted Answer

A)  holding town hall meetings and consulting employees on what they would do if in charge.
B)  holding town hall meetings and consulting bankers on what they would do if in charge.
C)  holding retreats and consulting rivals on what they would do if in charge.
D)  consulting rivals and consulting investment bankers.E) B) and D)
F) All of the above

Question 19

__________ may be considered the advance work that must be done in order to effectively formulate and implement strategies.

Accepted Answer

A)  Goal setting
B)  Corporate entrepreneurship
C)  Strategy analysis
D)  Organizational designE) B) and C)
F) C) and D)

Question 20

Tim Brown, CEO of IDEO, believes that the ________ of a person should not dictate the level of influence their ideas should be accorded.

Accepted Answer

A)  age
B)  seniority
C)  position
D)  educationE) C) and D)
F) None of the above

Exam 1: Strategic Management: Creating Competitive Advantages

According to the Corporate Citizenship poll conducted by Cone Communications, most Americans say they would be likely to switch brands to one associated with a good cause, if there are similarities between

Correct AnswerverifiedShow Answer

Organizational goals and objectives should be vague in order to allow for changes in strategy.

Correct AnswerverifiedShow Answer

Much research has supported the notion that individuals work much harder when they are asked to do their best rather than when they are striving toward a specific goal.

Correct AnswerverifiedShow Answer

Stockholders in a company are the only individuals with an interest in the financial performance of the company.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Stakeholders are

Correct AnswerverifiedShow Answer

The organizational versus the individual rationality perspective suggests that objectives that are

Correct AnswerverifiedShow Answer

Effective organizational design means that firms must have ________ that are consistent with their strategy.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedFalse

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

Correct AnswerverifiedA

Strategic objectives are more specific than vision statements.

Correct AnswerverifiedShow Answer

One of the reasons a vision fails is that too much focus can lead to missed opportunities.

Correct AnswerverifiedShow Answer

Successful executives do not reward honesty and input and do not show their interest in learning what others are thinking.

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 AnswerverifiedA

The Sustainable Apparel Coalition accounts for more than one-third of the global

Correct AnswerverifiedShow Answer

To inculcate a strategic management perspective, managers must often make a major effort to effect transformational change.

Correct AnswerverifiedShow Answer

Methods by which successful executives show their interest in learning what others are thinking include

Correct AnswerverifiedShow Answer

__________ may be considered the advance work that must be done in order to effectively formulate and implement strategies.

Correct AnswerverifiedShow Answer

Tim Brown, CEO of IDEO, believes that the ________ of a person should not dictate the level of influence their ideas should be accorded.

Correct AnswerverifiedShow Answer

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