Lei Exam Questions and Answers 2022/2023 with complete
solution
Which school of thought in the strategic management field combines the other nine
schools of thought?
Configuration
Which phase of the strategic management involves the analysis of the general
environment?
strategic analysis
Which phase of strategic management includes the assessment of how far the
organization has achieved their goals?
strategic control/evaluation
Allocating resources, recruitment, hiring, and training are parts of which phase of
strategic management?
strategic implementation
Strategy formation is deliberate and definitive is the approach to which school of
strategy?
positioning school
Which school of thought focuses on transformational leader ship at its core?
configuration school
The leaders vision in leader ship style dictate which school of thought?
entrepreneurial school
The blank includes a clear purpose and states why the organization is in existence.
Mission
The blank describes where the organization wants to go from where it is at presently.
vision
Blanks are planned over the short and long terms.
goals
The overall objective of the business is to create blank for stakeholders.
value
firms to find strategic management by a process including:
Mission, visions, goals, and objectives
value is created for the firms:
immediate or primary stakeholders in for its secondary stakeholders
strategic management includes the following phases:
strategic analysis, strategy formulation, strategy implementation, and strategy
control/evaluation
A firm is in business to:
create value for the stakeholders, compete in their market, and to create new concepts
and ideas to gain an advantage over competitors
goals are more specific than objectives
false
vision statement is the reason behind the companies existence.
False
The overall objective of the business is to create value for its stakeholders
, True
strategy implementation is the process of putting strategy into action
True
which of the following is a threat to the H & T industry
political conflicts, natural disasters, and terrorism
The presence and participation of customers in the service delivery process is example
of
inseparability
services in HNT organizations are created and consumed at the same time. This
describes a blank characteristic of the HNT industry
simultaneity
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 HNT services exhibit very cyclical behavior over a short period of
time this describes blank characteristic of the HNT industry
perishability
personal interactions and experiences are important parts of services, and employees
play a key role in the H & T industry. This describes blank characteristic of the HNT
industry
Heterogeneity
personal interactions and experiences are important parts of services, and employees
play a key role in the HNT industry. This describes blank characteristic of the HNT
industry
labor-intensive
which of the following trends affect the HNT industry
socio-Cultural trends, globalization, mergers and acquisition's
which of the following are areas where the HNT industry characteristics impact
managing HNT firms
developing a sustainable competitive advantage, managing the cost structure, strategic
planning practices
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
false
more than 80% of hospitality and tourism organizations are SMES
True
managing SMEs the same as managing larger enterprises
false
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
solution
Which school of thought in the strategic management field combines the other nine
schools of thought?
Configuration
Which phase of the strategic management involves the analysis of the general
environment?
strategic analysis
Which phase of strategic management includes the assessment of how far the
organization has achieved their goals?
strategic control/evaluation
Allocating resources, recruitment, hiring, and training are parts of which phase of
strategic management?
strategic implementation
Strategy formation is deliberate and definitive is the approach to which school of
strategy?
positioning school
Which school of thought focuses on transformational leader ship at its core?
configuration school
The leaders vision in leader ship style dictate which school of thought?
entrepreneurial school
The blank includes a clear purpose and states why the organization is in existence.
Mission
The blank describes where the organization wants to go from where it is at presently.
vision
Blanks are planned over the short and long terms.
goals
The overall objective of the business is to create blank for stakeholders.
value
firms to find strategic management by a process including:
Mission, visions, goals, and objectives
value is created for the firms:
immediate or primary stakeholders in for its secondary stakeholders
strategic management includes the following phases:
strategic analysis, strategy formulation, strategy implementation, and strategy
control/evaluation
A firm is in business to:
create value for the stakeholders, compete in their market, and to create new concepts
and ideas to gain an advantage over competitors
goals are more specific than objectives
false
vision statement is the reason behind the companies existence.
False
The overall objective of the business is to create value for its stakeholders
, True
strategy implementation is the process of putting strategy into action
True
which of the following is a threat to the H & T industry
political conflicts, natural disasters, and terrorism
The presence and participation of customers in the service delivery process is example
of
inseparability
services in HNT organizations are created and consumed at the same time. This
describes a blank characteristic of the HNT industry
simultaneity
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 HNT services exhibit very cyclical behavior over a short period of
time this describes blank characteristic of the HNT industry
perishability
personal interactions and experiences are important parts of services, and employees
play a key role in the H & T industry. This describes blank characteristic of the HNT
industry
Heterogeneity
personal interactions and experiences are important parts of services, and employees
play a key role in the HNT industry. This describes blank characteristic of the HNT
industry
labor-intensive
which of the following trends affect the HNT industry
socio-Cultural trends, globalization, mergers and acquisition's
which of the following are areas where the HNT industry characteristics impact
managing HNT firms
developing a sustainable competitive advantage, managing the cost structure, strategic
planning practices
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
false
more than 80% of hospitality and tourism organizations are SMES
True
managing SMEs the same as managing larger enterprises
false
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
