MANA 4322 Exam 1 Test Questions
and Correct Answers 2025-2026
Updated.
Two Perspectives of Leadership - Answer romantic view and external control
Romantic View - Answer leader is key force in org's success
External Control Perspective - Answer focus is on external factors that may affect org's
success
Strategic Management ("SM") - Answer analyses, decisions, and actions an org undertakes in
order to create and sustain competitive advantages
Strategic Goals - Answer vision, mission, and strategic objectives; internal and external
environment of the firm
Two Strategic Decisions - Answer what industries should we compete in? HOW should we
compete in those industries?
Actions to Take in Strategic Management (SM) - Answer allocate necessary resources; design
the org to bring intended strategies to reality
Two Fundamental Questions in SM - Answer 1. how should we compete in order to create
competitive advantages in the marketplace?
2. How can we create competitive advantages in the marketplace that are unique, valuable, and
difficult for rivals to copy/sub?
4 Key Attributes of SM - Answer 1. directs org toward overall goals and objectives
2. includes multiple stakeholders in decision making
3. needs to incorporate short-term and long-term perspectives
4. recognizes trade-offs between efficiency and effectiveness
, Stakeholders - Answer individuals, groups, and orgs who have a "stake" in success of the org:
owners (shareholders in a publicly held corp.), employees, customers, suppliers, and the
community
Ambidexterity - Answer challenge mangers face of BOTH aligning resources to take
advantage of existing product markets as well as proactively exploring new opportunities
Individuals' Ambidextrous Behaviors - Answer alert, brokers, cooperative, and multitaskers
SM Process: Intended Strategy - Answer decisions are determined by ONLY analysis
SM Process: Realized Strategy - Answer decisions are determined by both analysis and
unforeseen environmental developments, unanticipated resource constraints, and/or changes
in managerial proferences
Strategic Analysis - Answer consists of advance work that must be done in order to
effectively formulate and implement strategies; starting point
Firm Strategy Fomulation - Answer developed at several levels: business, corporate,
international, and entrepreneurial levels
Business Level Strategy - Answer addresses issue of how to compete in a given business to
attain competitive advantage
Corporate Level Strategy - Answer what businesses should we be in?
International Strategy - Answer how do we go about attaining competitive advantage in
international markets?
Entrepreneurial Strategy - Answer how do we recognize viable opportunities and formulate
an effective strategy?
Strategy Implementation - Answer ensuring proper strategic controls and org designs AND
establishing effective means to coordinate and integrate activities within the firm as well as with
suppliers, customers, and alliance partners
Corporate Governance - Answer relationship among various participants in determining the
direction and performance of orgs (shareholders, mgmt, and BoD)
and Correct Answers 2025-2026
Updated.
Two Perspectives of Leadership - Answer romantic view and external control
Romantic View - Answer leader is key force in org's success
External Control Perspective - Answer focus is on external factors that may affect org's
success
Strategic Management ("SM") - Answer analyses, decisions, and actions an org undertakes in
order to create and sustain competitive advantages
Strategic Goals - Answer vision, mission, and strategic objectives; internal and external
environment of the firm
Two Strategic Decisions - Answer what industries should we compete in? HOW should we
compete in those industries?
Actions to Take in Strategic Management (SM) - Answer allocate necessary resources; design
the org to bring intended strategies to reality
Two Fundamental Questions in SM - Answer 1. how should we compete in order to create
competitive advantages in the marketplace?
2. How can we create competitive advantages in the marketplace that are unique, valuable, and
difficult for rivals to copy/sub?
4 Key Attributes of SM - Answer 1. directs org toward overall goals and objectives
2. includes multiple stakeholders in decision making
3. needs to incorporate short-term and long-term perspectives
4. recognizes trade-offs between efficiency and effectiveness
, Stakeholders - Answer individuals, groups, and orgs who have a "stake" in success of the org:
owners (shareholders in a publicly held corp.), employees, customers, suppliers, and the
community
Ambidexterity - Answer challenge mangers face of BOTH aligning resources to take
advantage of existing product markets as well as proactively exploring new opportunities
Individuals' Ambidextrous Behaviors - Answer alert, brokers, cooperative, and multitaskers
SM Process: Intended Strategy - Answer decisions are determined by ONLY analysis
SM Process: Realized Strategy - Answer decisions are determined by both analysis and
unforeseen environmental developments, unanticipated resource constraints, and/or changes
in managerial proferences
Strategic Analysis - Answer consists of advance work that must be done in order to
effectively formulate and implement strategies; starting point
Firm Strategy Fomulation - Answer developed at several levels: business, corporate,
international, and entrepreneurial levels
Business Level Strategy - Answer addresses issue of how to compete in a given business to
attain competitive advantage
Corporate Level Strategy - Answer what businesses should we be in?
International Strategy - Answer how do we go about attaining competitive advantage in
international markets?
Entrepreneurial Strategy - Answer how do we recognize viable opportunities and formulate
an effective strategy?
Strategy Implementation - Answer ensuring proper strategic controls and org designs AND
establishing effective means to coordinate and integrate activities within the firm as well as with
suppliers, customers, and alliance partners
Corporate Governance - Answer relationship among various participants in determining the
direction and performance of orgs (shareholders, mgmt, and BoD)
