BUS479: STRATEGIC MANAGEMENT EXAM 1 – CSU
WITH ALL CORRECT & 100% VERIFIED ANSWERS |
ALREADY GRADED A+
What is strategy Correct answer-The set of goal-directed actions a firm takes to gain and sustain
superior performance relative to competitors. (plans to get from point A to Point B)
AFI framework of strategy Correct answer-Analysis
Formulation
Implementation
(creates strategic options)
5 levels of leadership Correct answer-1. Highly capable individual
2. Contributing team member
3. Competent Manager
4. Effective Leader
5. Level 5 Executive
Strategic Leadership Correct answer-Successful use of power and influence to direct the activities
of others when pursuing an organizational goal.
How do companies "get" Strategy Correct answer-The AFI Framework
-Analysis
- Formulate
- Implement
How CEO's spend their time Correct answer-67% of the time is spent in face to face meetings.
What is vision Correct answer-A description, or mental image, of what the organization should be
like in the future based on commonly shared values and perceptions of the organization and its
environment. (What do we want to accomplish)
Why is vision important Correct answer-- motivate and inspire
- create shared energy
- Unifying focus
- Positive organizational attitudes
Where does vision come from? Correct answer-From values / goals
How is vision useful to strategic managment Correct answer-Gives the organization something to
focus on (product oriented or customer oriented)
Collins and Poras vision framework Correct answer-Core ideology = Core Values and core purpose
Core values: Guiding principles
Core purpose: the soul of the org. must be discovered, not created.
Envisioned Future Correct answer-BHAG: Big, hairy, audacious, goal (10-30 year plan) and must be
concise
Vivid Description: Painting a picture with your words, what it will feel like to achieve their goal
, What is the link between organizational values and organizational culture. Correct answer-They go
hand in hand if implemented properly. Companies with strong values (and subsequent strong
cultures) outperformed competition by a lot.
Levels of values Correct answer-- Artifacts
- Behaviors
- Espoused / desired values
- Core values
Schein framework Correct answer-The onion model = three levels of organizational framework.
1. Artifacts
2. Espoused values
3. Basic assumptions (deeply embedded in culture)
Mini case #3: Strategy process kills innovation at Microsoft Correct answer-CEO makes all
decisions, and ends projects that would be innovative and lead to success.
What are Strategic Issues Correct answer-Condition or pressure, either internal or external, that
significantly affects the functioning of the organization or its future interest
Ways to manage strategic issues Correct answer-Reactive Model
Proactive Model
Comfort traps Correct answer-1. Strategic Planning (short term)
2. Cost based thinking (thinking cost are under the company control)
3. Misapplied strategy concepts
Relationship between issue intensity and organizational options Correct answer-As intensity
increases, options decrease.
What are paradigms Correct answer-Patterns: ruts that people get in to do something, sets
boundaries.
How can paradigms be helpful Correct answer-There are boundaries to the paradigms, and there
are ways to be successful within those boundaries.
What happens when a paradigm shifts Correct answer-Everyone goes back to zero, the past
guarantees nothing.
How can paradigms be detrimental Correct answer-They limit creativity, diversity, and innovation.
PESTEL Framework Correct answer--Political (government presence & regulations)
-Economic
-Sociocultural (culture, norms, values)
-Technological
-Ecological (environment)
-Legal (Laws/ enforcement)
Porters 5 competitive forces (TTPPR) Correct answer--Threat of Entry
- Threat of substitutes
-Power of suppliers
WITH ALL CORRECT & 100% VERIFIED ANSWERS |
ALREADY GRADED A+
What is strategy Correct answer-The set of goal-directed actions a firm takes to gain and sustain
superior performance relative to competitors. (plans to get from point A to Point B)
AFI framework of strategy Correct answer-Analysis
Formulation
Implementation
(creates strategic options)
5 levels of leadership Correct answer-1. Highly capable individual
2. Contributing team member
3. Competent Manager
4. Effective Leader
5. Level 5 Executive
Strategic Leadership Correct answer-Successful use of power and influence to direct the activities
of others when pursuing an organizational goal.
How do companies "get" Strategy Correct answer-The AFI Framework
-Analysis
- Formulate
- Implement
How CEO's spend their time Correct answer-67% of the time is spent in face to face meetings.
What is vision Correct answer-A description, or mental image, of what the organization should be
like in the future based on commonly shared values and perceptions of the organization and its
environment. (What do we want to accomplish)
Why is vision important Correct answer-- motivate and inspire
- create shared energy
- Unifying focus
- Positive organizational attitudes
Where does vision come from? Correct answer-From values / goals
How is vision useful to strategic managment Correct answer-Gives the organization something to
focus on (product oriented or customer oriented)
Collins and Poras vision framework Correct answer-Core ideology = Core Values and core purpose
Core values: Guiding principles
Core purpose: the soul of the org. must be discovered, not created.
Envisioned Future Correct answer-BHAG: Big, hairy, audacious, goal (10-30 year plan) and must be
concise
Vivid Description: Painting a picture with your words, what it will feel like to achieve their goal
, What is the link between organizational values and organizational culture. Correct answer-They go
hand in hand if implemented properly. Companies with strong values (and subsequent strong
cultures) outperformed competition by a lot.
Levels of values Correct answer-- Artifacts
- Behaviors
- Espoused / desired values
- Core values
Schein framework Correct answer-The onion model = three levels of organizational framework.
1. Artifacts
2. Espoused values
3. Basic assumptions (deeply embedded in culture)
Mini case #3: Strategy process kills innovation at Microsoft Correct answer-CEO makes all
decisions, and ends projects that would be innovative and lead to success.
What are Strategic Issues Correct answer-Condition or pressure, either internal or external, that
significantly affects the functioning of the organization or its future interest
Ways to manage strategic issues Correct answer-Reactive Model
Proactive Model
Comfort traps Correct answer-1. Strategic Planning (short term)
2. Cost based thinking (thinking cost are under the company control)
3. Misapplied strategy concepts
Relationship between issue intensity and organizational options Correct answer-As intensity
increases, options decrease.
What are paradigms Correct answer-Patterns: ruts that people get in to do something, sets
boundaries.
How can paradigms be helpful Correct answer-There are boundaries to the paradigms, and there
are ways to be successful within those boundaries.
What happens when a paradigm shifts Correct answer-Everyone goes back to zero, the past
guarantees nothing.
How can paradigms be detrimental Correct answer-They limit creativity, diversity, and innovation.
PESTEL Framework Correct answer--Political (government presence & regulations)
-Economic
-Sociocultural (culture, norms, values)
-Technological
-Ecological (environment)
-Legal (Laws/ enforcement)
Porters 5 competitive forces (TTPPR) Correct answer--Threat of Entry
- Threat of substitutes
-Power of suppliers
