DR. BIZZI MGMT 449, EXAM #1 LATEST UPDATE REAL
QUESTIONS AND VERIFIED ANSWERS |100% CORRECT |
ALREADY GRADED A
romantic view of leadership Ans✓✓✓ situations in which the leader is
the key force determining the organization's success - or lack thereof
external control view of leadership Ans✓✓✓ situations in which
external forces - where the leader has limited influence - determine the
organization's success
strategy Ans✓✓✓ the ideas, decisions, and actions that enable a firm to
succeed
Four Key Attributes of Strategic Management Ans✓✓✓ 1. directed
toward overall organizational goals & objectives
2. includes multiple stakeholders in decision making
3. requires incorporating both short-term & long-term perspectives
4. involves the recognition of trade-offs between effectiveness and
efficiency
Intended Strategy Ans✓✓✓ strategy in which organizational decisions
are determined only by analysis
Realized Strategy Ans✓✓✓ strategy in which organizational decisions
are determined by both analysis and unforeseen environmental
,developments, unanticipated resource constraints, and/or changes in
managerial preferences
Strategic Management Process Ans✓✓✓ strategy analysis, strategy
formulation, and strategy implementation
Strategy Analysis Ans✓✓✓ study of firms' external and internal
environments, and their fit with organizational vision and goals
strategy formulation Ans✓✓✓ decisions made by firms regarding
investments, commitments, and other aspects of operations that create
and sustain competitive advantage
Strategy implementation Ans✓✓✓ actions made by firms that carry out
the formulated strategy, including strategic controls, organizational
design, and leadership
Stakeholders Ans✓✓✓ the individuals, groups, and organizations that
can affect the firm's vision and mission, are affected by the strategic
outcomes achieved, and have enforceable claims on the firm's
performance
Stakeholder Management Ans✓✓✓ a firm's strategy for recognizing and
responding to the interests of all its salient stakeholders
, zero-sum game Ans✓✓✓ stakeholders compete with each other
Symbiosis Ans✓✓✓ stakeholders depend upon each other
vision Ans✓✓✓ organizational goal(s) that evoke(s) powerful and
compelling mental images
mission Ans✓✓✓ Set of organizational goals that include both the
purpose of the organization, its scope of operations, and the basis of its
competitive advantage
Cash Ratio Ans✓✓✓ Cash / Current Liabilities
Profit margin (ROS) Ans✓✓✓ Net Income/Sales
Return on Assets (ROA) Ans✓✓✓ Net Income/Total Assets
Return on Equity (ROE) Ans✓✓✓ Net Income/Total Equity
SMART objectives Ans✓✓✓ Specific, Measurable, Appropriate,
Realistic, Timely
***Triple Bottom Line Ans✓✓✓ Assessment of a firm's
QUESTIONS AND VERIFIED ANSWERS |100% CORRECT |
ALREADY GRADED A
romantic view of leadership Ans✓✓✓ situations in which the leader is
the key force determining the organization's success - or lack thereof
external control view of leadership Ans✓✓✓ situations in which
external forces - where the leader has limited influence - determine the
organization's success
strategy Ans✓✓✓ the ideas, decisions, and actions that enable a firm to
succeed
Four Key Attributes of Strategic Management Ans✓✓✓ 1. directed
toward overall organizational goals & objectives
2. includes multiple stakeholders in decision making
3. requires incorporating both short-term & long-term perspectives
4. involves the recognition of trade-offs between effectiveness and
efficiency
Intended Strategy Ans✓✓✓ strategy in which organizational decisions
are determined only by analysis
Realized Strategy Ans✓✓✓ strategy in which organizational decisions
are determined by both analysis and unforeseen environmental
,developments, unanticipated resource constraints, and/or changes in
managerial preferences
Strategic Management Process Ans✓✓✓ strategy analysis, strategy
formulation, and strategy implementation
Strategy Analysis Ans✓✓✓ study of firms' external and internal
environments, and their fit with organizational vision and goals
strategy formulation Ans✓✓✓ decisions made by firms regarding
investments, commitments, and other aspects of operations that create
and sustain competitive advantage
Strategy implementation Ans✓✓✓ actions made by firms that carry out
the formulated strategy, including strategic controls, organizational
design, and leadership
Stakeholders Ans✓✓✓ the individuals, groups, and organizations that
can affect the firm's vision and mission, are affected by the strategic
outcomes achieved, and have enforceable claims on the firm's
performance
Stakeholder Management Ans✓✓✓ a firm's strategy for recognizing and
responding to the interests of all its salient stakeholders
, zero-sum game Ans✓✓✓ stakeholders compete with each other
Symbiosis Ans✓✓✓ stakeholders depend upon each other
vision Ans✓✓✓ organizational goal(s) that evoke(s) powerful and
compelling mental images
mission Ans✓✓✓ Set of organizational goals that include both the
purpose of the organization, its scope of operations, and the basis of its
competitive advantage
Cash Ratio Ans✓✓✓ Cash / Current Liabilities
Profit margin (ROS) Ans✓✓✓ Net Income/Sales
Return on Assets (ROA) Ans✓✓✓ Net Income/Total Assets
Return on Equity (ROE) Ans✓✓✓ Net Income/Total Equity
SMART objectives Ans✓✓✓ Specific, Measurable, Appropriate,
Realistic, Timely
***Triple Bottom Line Ans✓✓✓ Assessment of a firm's
