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Exam 1: Strategic Management: Creating Competitive Advantages

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Question 81

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A mission statement encompasses both the purpose of the organization as well as its basis of competition,and the basis of its competitive advantage.

A) True
B) False

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Question 82

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Decisions by boards of directors are always consistent with shareholder interests.

A) True
B) False

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Question 83

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The three interrelated and principal activities of strategic management are: strategy analysis,strategy formulation,and strategy implementation.

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.

Demands for greater corporate responsibility are decreasing today.

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

Hewlett-Packard's failure and success under the leadership first of Carly Fiorina and then of Mark Hurd was said to be a direct result of the quality of leadership of each of these CEOs.According to the text,this would be an example of the "romantic" perspective of leadership.

According to the CEO of IDEO,Tim Brown,spotting and promoting at any level in the firm is important.

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

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

The Fairmont Royal York in Toronto invested $25,000 in an energy conservation program to replace leaky steam traps and fix leaks,which resulted in an annual savings of over $200,000.This is an example of a sustainability effort to

In the strategic management process,only local line leaders and executive leaders are needed.

Procter and Gamble has perfected a technique for compacting cleaning powder into a liquid concentration.Consumers,retailers,shipping and wholesalers,and environmentalists all have benefited from the resulting change in consumer shopping habits and the revolution in industry supply-chain economics.According to the text,this is an example of

Shareholders expect only short-term value and therefore good managers should only focus on meeting short-term performance targets.

Business-level strategy focuses on (1)what businesses to compete in and (2)the management of the business portfolio to create synergy among its businesses.

Local line leaders are key in setting the tone for the empowerment of employees.

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

There is a positive influence of CSR on the consumer evaluation of companies and their purchasing decisions,according to recent studies.

Nancy Snyder,corporate vice president of Whirlpool,shifted the reputation of the firm to that of an innovator by investing financially in capital spending.

Richard Branson,the founder of the Virgin Group,is well known for creating an inclusive organizational structure in which anybody in the organization can be involved in generating and activating upon new business ideas.