Question 1

Top-down strategic planning works best in more uncertain situations because the firm hand of senior leadership is best at seeing the future.

Accepted Answer

A) True 
 B)False

Question 2

What is the main intention of firms when they use scenario planning?

Accepted Answer

Firms will refer to scenario planning to...

Question 3

Organizational learning and flexibility are enhanced by the circular nature of scenario planning.

Accepted Answer

A) True 
 B)False

Question 4

Intel is provided as an example of a firm that has continuously changed its mission statement,including most recently moving to a customer-focused mission.This is an indication of what?

Accepted Answer

A)   Missions are best left as they were originally crafted for the firm.
B)   Intel's mission likely created its superior performance over this period.
C)   Missions can be inspirational for both employees and customers.
D)   The mission was changed after Intel had already changed its business focus.E) A) and B)
F) A) and C)

Question 5

McKesson,a $110 billion health care company,is provided as an example firm with clear and compelling organizational values.All of the following items are examples of living the values EXCEPT which one?

Accepted Answer

A)   The ethics and behavior models are the cornerstones of building the business.
B)   ICARE values are printed out on all their marketing materials for new customers.
C)   Employees worked long overtime hours to meet urgent needs during hurricane Katrina.
D)   The ICARE values serve as a framework for how to deal with their customers.E) None of the above
F) A) and D)

Question 6

It has been found that visionary companies outperform other companies by more than 1,400 percent.One reason for this is:

Accepted Answer

A)   Their stated missions encapsulate their aspirations.
B)   Their employees are better trained.
C)   They are focused on profits.
D)   They are typically start-ups and are thus more highly motivated.E) None of the above
F) A) and D)

Question 7

Planned emergence in strategy-making is when:

Accepted Answer

A)   An organization plans to emerge into a new market using current initiatives.
B)   An organization has a succession plan when the current CEO is preparing to retire.
C)   An organization communicates its strategy to the lower levels during a planned event.
D)   An organization allows bottom-up initiatives to emerge and be considered by the top.E) None of the above
F) A) and D)

Question 8

Which of the following is NOT true concerning a customer-oriented mission?

Accepted Answer

A)   It defines the means of how a customer need will be met.
B)   It has more flexibility than a product-oriented mission.
C)   It has a higher likelihood of remaining relevant in the long-term.
D)   Organizations that have customer-oriented missions are more likely to be successful.E) B) and C)
F) A) and C)

Question 9

In Strategy Highlight 2.3,what type of strategy is the store manager of Starbucks using to develop new drinks for the stores?

Accepted Answer

A)   She is using a rational planning approach to strategy.
B)   She is creating a dominant strategy plan.
C)   She is using scenario planning.
D)   She is using an emergent strategy process.E) A) and D)
F) None of the above

Question 10

The process that describes the method by which managers conceive of and implement a strategy that can lead to a sustainable competitive advantage is called what?

Accepted Answer

A)   Strategic process
B)   Strategic technology
C)   Strategic management
D)   Strategic planningE) None of the above
F) B) and C)

Question 11

The Real Options approach was used by Microsoft in its decision to close down the Keywords initiative.

Accepted Answer

A) True 
 B)False

Question 12

Mission statements can also be used to help refocus a firm on its main line of business.One example of this given in the text is:

Accepted Answer

A)   Ben & Jerry's expanding beyond ice cream into other food categories.
B)   Disney selling off its theme parks to focus on movies.
C)   Shell Canada selling off its chemicals and forestry businesses.
D)   Ford Motors moving into hybrid cars and SUVs.E) B) and C)
F) B) and D)

Question 13

Teach For America has an inspiring mission but it also pays above-average salaries to attract nearly 50,000 applicants each year.

Accepted Answer

A) True 
 B)False

Question 14

The strategy originally planned by senior management is known as:

Accepted Answer

A)   Purposed strategy
B)   Impact strategy
C)   Intended strategy
D)   Emergent strategyE) None of the above
F) A) and B)

Question 15

Any unplanned strategic initiative undertaken by mid-level employees of their own volition is a(n) ________________.

Accepted Answer

A)   dominant strategic plan
B)   developing strategy
C)   emergent strategy
D)   strategic initiativeE) A) and B)
F) C) and D)

Exam 2: The Strategic Management Process

In Strategy Highlight 2.3,what type of strategy is the store manager of Starbucks using to develop new drinks for the stores?

Correct Answer
verified

Teach For America has an inspiring mission but it also pays above-average salaries to attract nearly 50,000 applicants each year.

Correct Answer
verified

The process that describes the method by which managers conceive of and implement a strategy that can lead to a sustainable competitive advantage is called what?

Correct Answer
verified

Organizational learning and flexibility are enhanced by the circular nature of scenario planning.

Correct Answer
verified

Mission statements can also be used to help refocus a firm on its main line of business.One example of this given in the text is:

Correct Answer
verified

What is the main intention of firms when they use scenario planning?

Correct Answer
verified
Firms will refer to scenario planning to...
View Answer

It has been found that visionary companies outperform other companies by more than 1,400 percent.One reason for this is:

Correct Answer
verified

The strategy originally planned by senior management is known as:

Correct Answer
verified

Any unplanned strategic initiative undertaken by mid-level employees of their own volition is a(n) ________________.

Correct Answer
verified

Which of the following is NOT true concerning a customer-oriented mission?

Correct Answer
verified

McKesson,a $110 billion health care company,is provided as an example firm with clear and compelling organizational values.All of the following items are examples of living the values EXCEPT which one?

Correct Answer
verified

Planned emergence in strategy-making is when:

Correct Answer
verified

Intel is provided as an example of a firm that has continuously changed its mission statement,including most recently moving to a customer-focused mission.This is an indication of what?

Correct Answer
verified

Top-down strategic planning works best in more uncertain situations because the firm hand of senior leadership is best at seeing the future.

Correct Answer
verified

The Real Options approach was used by Microsoft in its decision to close down the Keywords initiative.

Correct Answer
verified

Exam 2: The Strategic Management Process

In Strategy Highlight 2.3,what type of strategy is the store manager of Starbucks using to develop new drinks for the stores?

Correct AnswerverifiedShow Answer

Teach For America has an inspiring mission but it also pays above-average salaries to attract nearly 50,000 applicants each year.

Correct AnswerverifiedShow Answer

The process that describes the method by which managers conceive of and implement a strategy that can lead to a sustainable competitive advantage is called what?

Correct AnswerverifiedShow Answer

Organizational learning and flexibility are enhanced by the circular nature of scenario planning.

Correct AnswerverifiedShow Answer

Mission statements can also be used to help refocus a firm on its main line of business.One example of this given in the text is:

Correct AnswerverifiedShow Answer

What is the main intention of firms when they use scenario planning?

Correct AnswerverifiedFirms will refer to scenario planning to...View AnswerShow Answer

It has been found that visionary companies outperform other companies by more than 1,400 percent.One reason for this is:

Correct AnswerverifiedShow Answer

The strategy originally planned by senior management is known as:

Correct AnswerverifiedShow Answer

Any unplanned strategic initiative undertaken by mid-level employees of their own volition is a(n) ________________.

Correct AnswerverifiedShow Answer

Which of the following is NOT true concerning a customer-oriented mission?

Correct AnswerverifiedShow Answer

McKesson,a $110 billion health care company,is provided as an example firm with clear and compelling organizational values.All of the following items are examples of living the values EXCEPT which one?

Correct AnswerverifiedShow Answer

Planned emergence in strategy-making is when:

Correct AnswerverifiedShow Answer

Intel is provided as an example of a firm that has continuously changed its mission statement,including most recently moving to a customer-focused mission.This is an indication of what?

Correct AnswerverifiedShow Answer

Top-down strategic planning works best in more uncertain situations because the firm hand of senior leadership is best at seeing the future.

Correct AnswerverifiedShow Answer

The Real Options approach was used by Microsoft in its decision to close down the Keywords initiative.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Firms will refer to scenario planning to...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified