question

romantic and external control

answer

The text addresses two perspectives of leadership as well as their implications. These two perspective are

question

romantic

answer

A CEO made a lot of mistakes such as committing errors in assessing the market and competitive conditions and improperly redesigning the organization into numerous business units. Such errors led to significant performance declines. According to the text, this example illustrates the _________ perspective of leadership.

question

analysis, decisions, and actions.

answer

According to the text, the strategic management process entails three ongoing processes:

question

every company is trying to implement them and hence it does not make a company different from others.

answer

Management innovations such as total quality, benchmarking, and business processes reengineering cannot lead to sustainable competitive advantage because

question

what is best for a functional area may not be best for the organization.

answer

The "organizational versus individual rationality" perspective suggests that

question

strategy must be directed toward overall organizational goals and objectives.

answer

The four key attributes of strategic management include the idea that

question

emphasis on the attainment of short-term objectives.

answer

The four key attributes of strategic management include all of the following except:

question

doing the right thing

answer

"Effectiveness" is often defined as

question

intensely focusing on one's own responsibilities and maximizing the output of one's department in an organization.

answer

All of the following are ambidextrous behaviors except

question

are a combination of deliberate and emergent strategies

answer

According to Henry Mintzberg, the realized strategies of a firm

question

intended strategy

answer

According to Henry Mintzberg, decisions flowing from a firm's strategic analysis are its

question

Strategy analysis

answer

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

question

strategy implementation

answer

______ involves ensuring proper strategic controls and organizational designs

question

the shareholders, board of directors, and management.

answer

The three participants in corporate governance are

question

represent the interests of the shareholders

answer

While working to prioritize and fulfill their responsibilities, members of an organization's board of directors should

question

elected by the shareholders as their representatives

answer

Members of the boards of directors are

question

interests of the stockholders are not the only interests that matter

answer

An organization is responsible to many different entities. In order to meet the demands of these groups, organizations must participate in stakeholder management. Stakeholder management means that

question

individuals, groups, and organizations who have a stake in the success of the organization.

answer

stakeholders are

question

stakeholder symbiosis

answer

Outback Steakhouse has developed a sophisticated quantitative model and found that there were positive relationships between employee satisfaction, and financial results. According to the text, this is an example of ______.

question

one can only gain at the expense of someone else.

answer

There are several perspectives of competition. One perspective is zero-sum thinking. Zero-sum thinking means that

question

stakeholders are dependent on each other for their success.

answer

Managers should do more than just focus on short-term financial performance. One concept that helps managers do this is stakeholder symbiosis. This means that

question

tapping the latent talent of the online crowd

answer

Crowdsourcing can be defined as

question

The expectation that business will strive to improve the overall welfare or society.

answer

Firms must be aware of goals other than short-term profit maximization. One area of concern should be social responsibility which is

question

financial, environmental, and social

answer

According to the text, the "triple bottom line" approach to corporate accounting includes which three components

question

functional areas work together to attain overall goals

answer

Many organizations have a large number of functional areas with very diverse, and sometimes competing, interests. Such organizations will be most effective if

question

all of the above

answer

Strategy formulation and implementation is a challenging on-going process. To be effective, it should involve

question

throughout the organization

answer

The text argues that a strategic perspective in an organization should be emphasized

question

Internal networkers

answer

Peter Senge, of MIT, recognized three types of leaders. ________ are individuals that, although having little positional power and formal authority, generate their power through the conviction and clarity of their ideas.

question

Executive leaders

answer

Peter Senge, of MIT., recognized three types of leaders. ______ champion, and guide ideas, create a learning infrastructure, and establish a domain for taking action.

question

throughout the organization

answer

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

question

vision statements, mission statements, strategic obejctives

answer

The hierarchy of organizational goals is in this order (least specific to most specific):

question

evoke powerful and compelling mental images

answer

Vision statements are used to create a better understanding of the organization's overall purpose and direction. Vision statements

question

a brief statement of the company's division

answer

Effective vision statements include

question

vision statements

answer

Examples of _____ include: "to be the happiest place on earth" (Disney), and "restoring patients to full life" (Medtronics)

question

Vision statement

answer

Wellpoint Health Networks states: "Wellpoint will redefine our industry: through a new generation of consumer-friendly products that put individuals back in control of their future." This is an example of a

question

encompass both the purpose of the company as well as the basis of competition

answer

In contrast to an organization's vision, its mission should

question

operationalize the mission statement

answer

An organization's mission statement and vision statement set the overall direction of the organization. Strategic objectives

question

they are striving toward specific goals

answer

Successful organizations are effective in motivating people. Employees work best when

question

financial strategic objective

answer

Fortune Brands states they will "cut corporate costs by $30 million a year." This is an example of a

question

nonfinancial strategic objective

answer

"We want to be the top-ranked supplier by our customers." (PPG) This is an example of a

question

help resolve conflicts through their common purpose

answer

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

BUS 401- Chapter 1 – MC – Flashcards

Unlock all answers in this set

Haven't found what you were looking for?

Search for samples, answers to your questions and flashcards