Mana 4322: Exam 1 Test Questions
with Complete Solutions.
romantic view of leadership - Answer situations in which the leader is the key force
detemining the organization's success -- or lack thereof
external control view of leadership - Answer situations in which external forces -- where the
leader has limited influence -- determine the organization's success
strategic management - Answer the analyses, decisions, and actions an organization
undertakes in order to create and sustain competitive advantages
strategy - Answer the ideas, decisions, and actions that enable a firm to succeed
competitive advantage - Answer a firm's resources and capabilities that enable it to
overcome the competitive forces in its industry(ies)
operational effectiveness - Answer performing similar activities better than rivals
stakeholders - Answer individuals, groups, and organizations that have a stake in the success
of the organization, including owners (shareholders in a publicly held corporation), employees,
customers, suppliers, and the community at large
effectiveness - Answer tailoring actions to the needs of an organization rather than wasting
effort, or "doing the right thing"
efficiency - Answer performing actions at a low cost relative to a benchmark, or "doing
things right"
ambidexterity - Answer the challenge managers face of both aligning resources to take
advantage of existing product markets and proactively exploring new opportunities
strategic management process - Answer strategy analysis, strategy formulation, and strategy
implementation
intended strategy - Answer strategy in which organizational decisions are determined only by
analysis
, realized strategy - Answer strategy in which organizational decisions are determined by both
analysis and unforeseen environmental developments, unanticipated resource constraints,
and/or changes in managerial preferences
strategy analysis - Answer study of firms' external and internal environments, and their fit
with organizational vision and goals
strategy formulation - Answer decisions made by firms regarding investments,
commitments, and other aspects of operations that create and sustain competitive advantage
strategy implementation - Answer actions made by firms that carry out the formulated
strategy, including strategic controls, organizational design, and leadership
corporate governance - Answer the relationship among various participants in determining
the direction and performance of corporations. the primary participants are (1) the
shareholders, (2) the management (led by the chief executive officer), and (3) the board of
directors
stakeholder management - Answer a firm's strategy for recognizing and responding to the
interests of all its salient stakeholders
social responsibility - Answer the expectation that businesses or individuals will strive to
improve the overall welfare of society
triple bottom line - Answer assessment of a firm's financial, social, and environmental
performance
hierarchy of goals - Answer organizational goals ranging from, at the top, those that are less
specific yet able to evoke powerful and compelling mental images, to, at the bottom, those that
are more specific and measurable
vision - Answer organizational goal(s) that evoke(s) powerful and compelling mental images
mission statement - Answer a set of organizational goals that includes the purpose of the
organization, its scope of operations, and the basis of its competitive advantage
strategic objectives - Answer a set of organizational goals that are used to operationalize the
mission statement and that are specific and cover a well-defined time frame
perceptual acuity - Answer the ability to sense what is coming before the fog clears
with Complete Solutions.
romantic view of leadership - Answer situations in which the leader is the key force
detemining the organization's success -- or lack thereof
external control view of leadership - Answer situations in which external forces -- where the
leader has limited influence -- determine the organization's success
strategic management - Answer the analyses, decisions, and actions an organization
undertakes in order to create and sustain competitive advantages
strategy - Answer the ideas, decisions, and actions that enable a firm to succeed
competitive advantage - Answer a firm's resources and capabilities that enable it to
overcome the competitive forces in its industry(ies)
operational effectiveness - Answer performing similar activities better than rivals
stakeholders - Answer individuals, groups, and organizations that have a stake in the success
of the organization, including owners (shareholders in a publicly held corporation), employees,
customers, suppliers, and the community at large
effectiveness - Answer tailoring actions to the needs of an organization rather than wasting
effort, or "doing the right thing"
efficiency - Answer performing actions at a low cost relative to a benchmark, or "doing
things right"
ambidexterity - Answer the challenge managers face of both aligning resources to take
advantage of existing product markets and proactively exploring new opportunities
strategic management process - Answer strategy analysis, strategy formulation, and strategy
implementation
intended strategy - Answer strategy in which organizational decisions are determined only by
analysis
, realized strategy - Answer strategy in which organizational decisions are determined by both
analysis and unforeseen environmental developments, unanticipated resource constraints,
and/or changes in managerial preferences
strategy analysis - Answer study of firms' external and internal environments, and their fit
with organizational vision and goals
strategy formulation - Answer decisions made by firms regarding investments,
commitments, and other aspects of operations that create and sustain competitive advantage
strategy implementation - Answer actions made by firms that carry out the formulated
strategy, including strategic controls, organizational design, and leadership
corporate governance - Answer the relationship among various participants in determining
the direction and performance of corporations. the primary participants are (1) the
shareholders, (2) the management (led by the chief executive officer), and (3) the board of
directors
stakeholder management - Answer a firm's strategy for recognizing and responding to the
interests of all its salient stakeholders
social responsibility - Answer the expectation that businesses or individuals will strive to
improve the overall welfare of society
triple bottom line - Answer assessment of a firm's financial, social, and environmental
performance
hierarchy of goals - Answer organizational goals ranging from, at the top, those that are less
specific yet able to evoke powerful and compelling mental images, to, at the bottom, those that
are more specific and measurable
vision - Answer organizational goal(s) that evoke(s) powerful and compelling mental images
mission statement - Answer a set of organizational goals that includes the purpose of the
organization, its scope of operations, and the basis of its competitive advantage
strategic objectives - Answer a set of organizational goals that are used to operationalize the
mission statement and that are specific and cover a well-defined time frame
perceptual acuity - Answer the ability to sense what is coming before the fog clears
