Which of the following dimension(s) is (are) encompassed by a companys business model?

MGMT 493: Test 1 TB

The principal drivers of shareholder value is
A. Profitability
B. Profit Growth
C. Market Share
D. Profitability and Profit Growth
E. ALL of these choices

Profitability and Profit Growth

A competitive advantage is considered to be a sustained competitive advantage when..
A. Advantage endures for a long time
B. Firm is able to spread the advantage to all of its business units.
C. Advantage is very large.
D. Advantage was gained at a low co

Advantage endures for a long time

Which of the following dimensions are encompassed by a company's business model?
A. Selecting Customers
B. Defining and Differentiating its product offerings
C. determining how it will produce goods and services
D. Determining how it will grow the busines

The strategies that a company's managers pursue
A. have a major impact on the company's performance relative to its competitors.
B. have little or no effect on overall profitability.
C. typically result in higher per-unit cost of production.
D. result in

Have a major impact of the company's performance relative to its competitors

Which of the following is the organization's principal general manager?

Within a diversified company, the responsibilities of corporate-level strategic managers include?
A. translating the corp mission statement into concrete strategies for individual business units.
B. closely supervising the formulation of strategies at the

Overseeing the development of strategies for the total organization and allocating resources among its different business areas.

General Managers are found

only at the corporate and business levels

Vice president chug is responsible for executing decisions about human resources. Mr. Chung is....?

Profit growth is best measured
A. by the increase in share price
B. by the ROI
C. by the increase in net sales
D. Over time
E. by increases in liquidity

Functional Managers..?
A. Are responsible for the specific business functions or operations that constitute a company or one of its divisions.
B. look at the overall picture of a corporation.
C. have no strategic role
D. Formulate generic strategies
E. ex

Are responsible for the specific business functions or operations that constitute a company or one of its divisions.

Betsy Holden is the head of Kraft Foods, a division of the Philip Morris company. Which of the following is not likely to be one of Ms. Holdens responsibilities?
A. Turning Corp. level strategy into action
B. Defining Philip Morris's Mission
C. Deciding h

Defining Philip Morris's Mission

The first step in the strategic management process is?

Defining the mission and major goals of the organization

Strategy formulation refers to the
A. task of designing organizational structures and control systems.
B. process by which strategies are put into action
C. top-down planning process that gives rise to the implementation of emergent strategies.
D. Task of

Task of analyzing an organizations external and internal environment and then selecting an appropriate strategy.

Matching an Orgs structure and control systems to the requirements of a company's strategy is
A. Part of the strategy making process
B. Part of the SWOT analysis
C. Facilitated through the feedback loop
D. Part of internal analysis
E. All of these choices

Part of the strategy making process

Strategic leadership is about
A. strategy formulation
B. Strategy implementation
C. How to effectively manage a company's strategy and create competitive advantage.
D. Establishing effective contract processes.
E. reducing a company's operating costs.

How to effectively manage a company's strategy and create competitive advantage.

Maximizing Shareholder value is..

The ultimate goal of profit making companies.

Aaron planned to cut prices at his bicycle shop, when a competing shop began to offer free repairs, aaron decided to copy them. Aarons new strategy is an example of...?

The fit model of strategy formulation and implementation
A. was proposed and supported by Prahalad and Hamel
B. is not useful because the future is uncertain
C. is useful for both intended and emergent strategies
D. can give a company a sustainable compet

Focuses more on the current situation than on the future situation

When considering emergent strategies it is important for a firms managers to..
A. ensure that the chosen strategies are the result of deliberate plans
B. ignore strategies that are not the result of a formal planning process
C. evaluate each one carefully

evaluate each one carefully, using only those that show the most promise

The scenario approach to strategic planning involves..
A, devising plans for coping with a number of different possible future states of the world.
B. homing in on a single prediction of future demand conditions using an iterative planning process.
C. fun

devising plans for coping with a number of different possible future states of the world.`

An effective business model

A sustained competitive advantage
A. Enables a company to maintain above average projects for a number of years
B. cannot be maintained for more than three years
C. is seldom possible in todays highly competitive environment
D. typically arises out of unf

Enables a company to maintain above average projects for a number of years

Scenario based planning is a technique for coping with the problem of..

Which of the following cognitive biases occurs when decision makers commit even more resources if they receive feedback that the project is failing?

Which of the following cognitive biases refers to the fact that decision makers who have strong prior beliefs about the relationship between two variables tend to make decisions on the basis of these beliefs, even when presented with evidence that their b

Sam Walton wanted Walmart to keep costs low. Therefore as an example to others he drove his own car and furnished his office with plain, steel desks. in this case MR walton was displaying his...

Edward Wrap's ideas about the astuteness of political power suggest that successful strategic managers
A. are skilled organizational politicians who can build consensus and get their ideas pushed through
B. are unwilling to live with less than total accep

Are skilled organizational politicians who can build consensus and get their ideas pushed through

The rolle of corporate level manager is to
A. define operational-level strategies
B outline functional-level strategies and plans
C. Oversee the development of strategies for the whole organization
D. Develop business-level strategies
E. Oversee the devel

oversee the development of strategies for the whole organization

Jeffrey Pfeffer believes that a manager's political power comes from his or her control over
A. employees paychecks
B. the firms strategic vision
C. Important organizational resources
D. Internal Communication channels
E. The company's website

Important organizational resources

Which of the following is NOT a cognitive bias?
A. escalating commitment
B. Reasoning by analogy
C. Ivory Tower Thinking
D. representativeness
E. Illusion of Control

Feelings of personal responsibility for a project are most likely to lead to

Devil's advocacy
A. Is simpler than the expert approach
B. is an example of ivory tower planning
C. results in unproductive conflict
D. involves one group member being responsible for questioning the assumptions of a plan
E. results in a final plan that i

involves one group member being responsible for questioning the assumptions of a plan

Holly owns a landscape company and is thinking baout expanding her services to include indoor water features. If before making this decision, she looks at the experience of similar firms that have added outdoor features she is employing,

Which of the following is not a characteristic of well-constricted goals?
A. they are precise and measurable
B. They are the result of a group decision process.
C. They are specify a time period
D. Tehy are challenging but realistic
E. They address critic

They are the result of a group decision process

The first step in the strategic management process is to
A. Analyze the competitive environment
B. examine the org. structure to see what changes may be required.
C. analyze internal strengths
D. analyze internal weaknesses
E. select the corporate mission

select the corporate mission an major corporate goals.

Strategic implementation involves
A. Taking actions at the functional, business, and corporate levels.
B. comparing company performance with leading companies in the industry.
C. Analyzing the macro-environment for any last minute changes that may have oc

Taking actions at the functional, business, and corporate levels.

An Important first step in the process of formulating a company's mission is to:

Answer the question, What is our business?

The primary goal of SWAT is to

Create, Affirm, or fine-tune a company specific business model

in the typical scenario planning exercise,
A. most scenarios are pessimistic
B. most scenarios are optimistic
C. some scenarios are optimistic and some are pessimistic.
D. only worst case outcomes should be considered
E. only best case outcomes should be

some scenarios are optimistic and some are pessimistic.

Competition from industry to industry..
A. is normally the same in all industries
B. Is characterized by different competitive conditions in different industries.
C. does not vary over time
D. cannot be measured
E. non of these choices

Is characterized by different competitive conditions in different industries.

Describes what the company does

A component of strategy implementation is
A. Designing the best org. structure, culture, and control system to put a strategy into action.
B. enumerating the number and kind of periodic reports that must be submitted by functional-level managers.
C. analy

Designing the best org. structure, culture, and control system to put a strategy into action.

an unplanned response to unforesen circumstances

Systematic erros is the decision-making process are caused by..
A. inadequate info.
B. info. overload
C. cognitive biases on the part of decision makers.
D. poor data collection procedures
E. all of these choices

cognitive biases on the part of decision makers.

Well constructed goals should..
A. Be precise and measurable
B. Address specific issues
C. be bounded by a particular time period
D. Bee all of these choices
E. a and b

Good strategic leaders A. possess a willingness to delagate and empower subordinates.B. Control all facts of decision making. C. are confident in their ability to make sound decisions w/o consulting others. D. assure uniformity of purpose through the exer

A. possess a willingness to delagate and empower subordinates.

Which of the following is not a characteristic of emotional intelligence?
A. Self awareness
B. self regulation
C. self esteem
D. empathy
E. social skills

What are the two major dimensions of strategic management?

Which of the following principal factors help increase shareholder value?

Which of the following best defines a SWOT analysis?

What is defined as a set of related actions that managers take to increase their company's performance?