Globus Test 1 CORRECTLY ANSWERED
2024
A term described as an integrative management field that combines analysis, formulation and
implementations in the quest for competitive advantage. -CORRECT ANS-Strategic Management
Identify "Strategic commitments" as a formulated strategy and using policy -CORRECT ANS-Strategic
commitments are effective guiding policies such as sizable investment or changes o an organizations
incentives and reward systems. These are big changes that can't be easily reversed.
Understand what it means to have competitive parity. -CORRECT ANS-Performance of two or more firms
at the same level.
competitive advantage -CORRECT ANS-a firm that achieves superior performance relative to other
competitors in the same industry or the industry average
sustainable competitive advantage -CORRECT ANS-outperforming competitors or the industry average
over a prolonged period of time
competitive disadvantage -CORRECT ANS-underperformance relative to other competitors in the same
industry or the industry average
identify the phrase that represents the vision Wendy Kopp developed for Teach for America -CORRECT
ANS-"One day, all children in this nation will have the opportunity to attain an excellent education"
Difference between a firms vision and mission -CORRECT ANS-a vision defines what an organization
wants to accomplish. A goal describes what an organization does to get a vision accomplished.
Why is it better for firms to keep their vision statements customer-oriented rather than product
oriented? -CORRECT ANS-Customer oriented vision statements allow companies to adapt to change.
Product oriented often contains this ability.
Organizational core values are the _________ that govern the behavior of individuals within a firm or
organization. -CORRECT ANS-ethical standards and norms.
, Strategic leadership pertains to the use of power and influence by ______ to direct the activities of
others when pursuing an organizations goals. -CORRECT ANS-corporate executives.
Be able to identify a person on a level-5 pyramid and understand each level -CORRECT ANS-1- highly
capable individual
2- contributing team member
3- competent manager
4- effective leader
5- corporate executives
Level 5 Person: Sheryl Sandberg COO of FB
Summarize the difference between SBU (strategic business unit) and a corporate partner. -CORRECT
ANS-
What is an assumption that top-down strategic planning rests on? -CORRECT ANS-Often rests on the
assumption that we can predict the future from the past.
understand an be able to identify scenario planning situations -CORRECT ANS-Scenario planning asks
"what if questions" to anticipate plausible futures in order to derive strategic responses.
Unexpected events that are highly improbable but lead two changes can best be described as a -
CORRECT ANS-black swan event
Understand intended, realized and emergent strategy -CORRECT ANS-Intended strategy: the outcome of
a rational and structured top-down strategic plan.
Realized: formulated through a combination of its top down strategic intentions and bottom up
emergent strategies
Emergent strategy: any unplanned strategic intitvative bubbling up rom deep within the organization
2024
A term described as an integrative management field that combines analysis, formulation and
implementations in the quest for competitive advantage. -CORRECT ANS-Strategic Management
Identify "Strategic commitments" as a formulated strategy and using policy -CORRECT ANS-Strategic
commitments are effective guiding policies such as sizable investment or changes o an organizations
incentives and reward systems. These are big changes that can't be easily reversed.
Understand what it means to have competitive parity. -CORRECT ANS-Performance of two or more firms
at the same level.
competitive advantage -CORRECT ANS-a firm that achieves superior performance relative to other
competitors in the same industry or the industry average
sustainable competitive advantage -CORRECT ANS-outperforming competitors or the industry average
over a prolonged period of time
competitive disadvantage -CORRECT ANS-underperformance relative to other competitors in the same
industry or the industry average
identify the phrase that represents the vision Wendy Kopp developed for Teach for America -CORRECT
ANS-"One day, all children in this nation will have the opportunity to attain an excellent education"
Difference between a firms vision and mission -CORRECT ANS-a vision defines what an organization
wants to accomplish. A goal describes what an organization does to get a vision accomplished.
Why is it better for firms to keep their vision statements customer-oriented rather than product
oriented? -CORRECT ANS-Customer oriented vision statements allow companies to adapt to change.
Product oriented often contains this ability.
Organizational core values are the _________ that govern the behavior of individuals within a firm or
organization. -CORRECT ANS-ethical standards and norms.
, Strategic leadership pertains to the use of power and influence by ______ to direct the activities of
others when pursuing an organizations goals. -CORRECT ANS-corporate executives.
Be able to identify a person on a level-5 pyramid and understand each level -CORRECT ANS-1- highly
capable individual
2- contributing team member
3- competent manager
4- effective leader
5- corporate executives
Level 5 Person: Sheryl Sandberg COO of FB
Summarize the difference between SBU (strategic business unit) and a corporate partner. -CORRECT
ANS-
What is an assumption that top-down strategic planning rests on? -CORRECT ANS-Often rests on the
assumption that we can predict the future from the past.
understand an be able to identify scenario planning situations -CORRECT ANS-Scenario planning asks
"what if questions" to anticipate plausible futures in order to derive strategic responses.
Unexpected events that are highly improbable but lead two changes can best be described as a -
CORRECT ANS-black swan event
Understand intended, realized and emergent strategy -CORRECT ANS-Intended strategy: the outcome of
a rational and structured top-down strategic plan.
Realized: formulated through a combination of its top down strategic intentions and bottom up
emergent strategies
Emergent strategy: any unplanned strategic intitvative bubbling up rom deep within the organization
