LEI 6931 Final Exam 2023 Questions and Answers Verified
for learners
Configuration
Which school of thought in the strategic management field combines the other 9 schools
of thought?
Strategic Analysis
Which phase of strategic management involves the analysis of the general
environment?
Strategic Control/Evaluation
Which phase of strategic management includes the assessment of how far the
organization has achieved their goals?
Strategic Implementation
Allocating resources, recruitment, hiring, and training are parts of which phase of
strategic management?
Positioning School
Strategy formation is deliberate and definitive is the approach of which school of
strategy?
Configuration School
Which school of thought focuses on transformational leadership at its core?
Entrepreneurial School
The leader's vision and leadership style dictate which school of thought?
Mission
The _____ includes a clear purpose and states why the organization is in existence.
Vision
The _____ describes where the organization wants to go from where it is at present.
Goals
_____ are planned over the short and long terms.
Value
The overall objective of the business is to create _____ for its stakeholders.
Mission, Vision, Goals and Objectives
Firms define strategic management by process including:
Immediate of Primary stakeholders and for its secondary stakeholders
Value is created for the firms:
Strategic analysis, strategy formulation, strategy implementation, and strategy
control/evaluation
Strategic Management includes the following phases:
False
Goals are more specific than objectives?
False
Vision statement is the reason behind the company's existence.
True
The overall objective of the business is to create value for its stakeholders.
True
Strategy implementation is the process of putting strategy into action.
, Inseparability
The presence and participation of customers in the service delivery process is an
example of _____.
Simulateneity
Services in H&T organizations are created and consumed at the same time. This
describes _____ characteristic of the H&T industry.
Perishability
The value of a hotel room will be lost if it is not sold for a night. Which characteristic of
the H&T industry does this statement describe?
Perishability
Consumer demand for H&T services exhibits very cyclic behavior over a short period of
time. This describes the _____ characteristic of the H&T industry.
Heterogeneity
Personal interactions and experiences are important parts of services, and employees
play a key role in the H&T industry. This describes _____ characteristic of the H&T
industry.
Labor Intensive
Personal interactions and experiences are important parts of services, and employees
play a key role in the H&T industry. This describes _____ characteristic of the H&T
industry.
False
Hospitality is an all-encompassing term that covers all aspects of people being away
from their home.
False
Tourism is a specific part of hospitality that focuses on providing accommodations and
meals for tourists.
True
More than 80 percent of hospitality and tourism organizations are SMEs.
False
Managing SMEs is the same as managing larger enterprises
True
H&T organizations offer a combination of tangible and intangible products and services.
True
Being served and treated nicely by employees is a major factor in getting repeat
customers.
True
Services in the H&T industry are undergoing a shift from service to experience.
True
Strategic management can help H&T organizations in providing a link between external
and internal environments
True
Strategic management research in our field now use advance research methods.
False
Strategic management theories, models, and frameworks developed in the generic field
cannot be used and applied within the H&T context
Corporate Level Strategy, Businesses Unit Strategy, Team Strategy
for learners
Configuration
Which school of thought in the strategic management field combines the other 9 schools
of thought?
Strategic Analysis
Which phase of strategic management involves the analysis of the general
environment?
Strategic Control/Evaluation
Which phase of strategic management includes the assessment of how far the
organization has achieved their goals?
Strategic Implementation
Allocating resources, recruitment, hiring, and training are parts of which phase of
strategic management?
Positioning School
Strategy formation is deliberate and definitive is the approach of which school of
strategy?
Configuration School
Which school of thought focuses on transformational leadership at its core?
Entrepreneurial School
The leader's vision and leadership style dictate which school of thought?
Mission
The _____ includes a clear purpose and states why the organization is in existence.
Vision
The _____ describes where the organization wants to go from where it is at present.
Goals
_____ are planned over the short and long terms.
Value
The overall objective of the business is to create _____ for its stakeholders.
Mission, Vision, Goals and Objectives
Firms define strategic management by process including:
Immediate of Primary stakeholders and for its secondary stakeholders
Value is created for the firms:
Strategic analysis, strategy formulation, strategy implementation, and strategy
control/evaluation
Strategic Management includes the following phases:
False
Goals are more specific than objectives?
False
Vision statement is the reason behind the company's existence.
True
The overall objective of the business is to create value for its stakeholders.
True
Strategy implementation is the process of putting strategy into action.
, Inseparability
The presence and participation of customers in the service delivery process is an
example of _____.
Simulateneity
Services in H&T organizations are created and consumed at the same time. This
describes _____ characteristic of the H&T industry.
Perishability
The value of a hotel room will be lost if it is not sold for a night. Which characteristic of
the H&T industry does this statement describe?
Perishability
Consumer demand for H&T services exhibits very cyclic behavior over a short period of
time. This describes the _____ characteristic of the H&T industry.
Heterogeneity
Personal interactions and experiences are important parts of services, and employees
play a key role in the H&T industry. This describes _____ characteristic of the H&T
industry.
Labor Intensive
Personal interactions and experiences are important parts of services, and employees
play a key role in the H&T industry. This describes _____ characteristic of the H&T
industry.
False
Hospitality is an all-encompassing term that covers all aspects of people being away
from their home.
False
Tourism is a specific part of hospitality that focuses on providing accommodations and
meals for tourists.
True
More than 80 percent of hospitality and tourism organizations are SMEs.
False
Managing SMEs is the same as managing larger enterprises
True
H&T organizations offer a combination of tangible and intangible products and services.
True
Being served and treated nicely by employees is a major factor in getting repeat
customers.
True
Services in the H&T industry are undergoing a shift from service to experience.
True
Strategic management can help H&T organizations in providing a link between external
and internal environments
True
Strategic management research in our field now use advance research methods.
False
Strategic management theories, models, and frameworks developed in the generic field
cannot be used and applied within the H&T context
Corporate Level Strategy, Businesses Unit Strategy, Team Strategy
