WPC 480 Cha 1-7 Exam Questions With 100%
Correct Answers.
Relative power is the most critical element for prioritizing the demands of stakeholders.
True
Above average returns are those in excess of what an investor expects to earn from other
investments with similar stock prices.
True
Hourly workers on the production line of a chicken-processing plant are considered organizational
stakeholders.
True
An effective vision statement must specify the industry in which a company will operate
false
The rate of technology diffusion has been steadily increasing over the last two decades
True
Returns can only be measured in accounting terms such as return on assets, return on equity, or
return on sales.
False
Strategic leaders must have a strong strategic orientation while embracing change in the dynamic
competitive landscape.
True
A firm's mission tends to be enduring while its vision can change in light of changing environmental
conditions.
false
In the resource-based model, which of the following factors would be considered a key to
organizational success?
skilled employees
All of the following are resources of an organization EXCEPT:
week competitors in the industry
SWOT stands for
Strengths, weaknesses, opportunities, and threats
The industrial organization (I/O) model argues that:
the key factor in success is choosing the correct industry in which to compete.
, Successful strategic leaders are:
decisive.
committed to nurturing those around them.
committed to helping the firm to create value for all stakeholder groups.
In a diversified firm, corporate-level strategy is concerned with:
determining in which businesses to compete and how resources will be allocated between businesses.
The Princeton Alliance Church states in its website that "PAC exists to help you live life to the fullest
by knowing God, developing community and bringing hope." This pronouncement is most precisely a
statement of organizational:
vision
The global economy, globalization, rapid technological change, and the increasing importance of
knowledge are creating the need to:
delegate strategic responsibilities to employees "closer to the action."
The I/O model is grounded in:
economies
Product market stakeholders include the firm's customers, and the principal concern of this
stakeholder group is:
obtaining reliable products at the lowest possible price.
Organizational culture is a complex set of ideologies, symbols, and core values that are shared
throughout the firm, but its development is so subtle and poorly understood that top managers
cannot influence its content.
FALSE
Rewarding those who use proper channels and procedures to report observed wrongdoings is an
example of an action that should be taken by a strategic leader to develop an ethical organizational
culture.
TRUE
The decision-making discretion of top-level managers is determined partly by external environmental
factors such as the industry structure, the industry's rate of growth, and the degree to which products
can be differentiated.
TRUE
Employees usually have a strong preference for firms to use the internal managerial labor market
when selecting top management team members and the CEO.
TRUE
Correct Answers.
Relative power is the most critical element for prioritizing the demands of stakeholders.
True
Above average returns are those in excess of what an investor expects to earn from other
investments with similar stock prices.
True
Hourly workers on the production line of a chicken-processing plant are considered organizational
stakeholders.
True
An effective vision statement must specify the industry in which a company will operate
false
The rate of technology diffusion has been steadily increasing over the last two decades
True
Returns can only be measured in accounting terms such as return on assets, return on equity, or
return on sales.
False
Strategic leaders must have a strong strategic orientation while embracing change in the dynamic
competitive landscape.
True
A firm's mission tends to be enduring while its vision can change in light of changing environmental
conditions.
false
In the resource-based model, which of the following factors would be considered a key to
organizational success?
skilled employees
All of the following are resources of an organization EXCEPT:
week competitors in the industry
SWOT stands for
Strengths, weaknesses, opportunities, and threats
The industrial organization (I/O) model argues that:
the key factor in success is choosing the correct industry in which to compete.
, Successful strategic leaders are:
decisive.
committed to nurturing those around them.
committed to helping the firm to create value for all stakeholder groups.
In a diversified firm, corporate-level strategy is concerned with:
determining in which businesses to compete and how resources will be allocated between businesses.
The Princeton Alliance Church states in its website that "PAC exists to help you live life to the fullest
by knowing God, developing community and bringing hope." This pronouncement is most precisely a
statement of organizational:
vision
The global economy, globalization, rapid technological change, and the increasing importance of
knowledge are creating the need to:
delegate strategic responsibilities to employees "closer to the action."
The I/O model is grounded in:
economies
Product market stakeholders include the firm's customers, and the principal concern of this
stakeholder group is:
obtaining reliable products at the lowest possible price.
Organizational culture is a complex set of ideologies, symbols, and core values that are shared
throughout the firm, but its development is so subtle and poorly understood that top managers
cannot influence its content.
FALSE
Rewarding those who use proper channels and procedures to report observed wrongdoings is an
example of an action that should be taken by a strategic leader to develop an ethical organizational
culture.
TRUE
The decision-making discretion of top-level managers is determined partly by external environmental
factors such as the industry structure, the industry's rate of growth, and the degree to which products
can be differentiated.
TRUE
Employees usually have a strong preference for firms to use the internal managerial labor market
when selecting top management team members and the CEO.
TRUE
