age 1 of 43
Strategic Management: Text and Cases, 9e (Dess)
Strategic Management ......ANSWER........the art and science of
formulating, implementing, and evaluating cross-functional
decisions that enable an organization to achieve its objectives
strategic management ......ANSWER........refers to strategy
formulation, implementation and evaluation
strategic planning ......ANSWER........refers only to strategy
formulation
strategy formulation ......ANSWER........includes developing a
vision and mission, identifying an organization's external
opportunities and threats, determining internal strengths and
weaknesses, establishing long-term objectives, generating
alternative strategies, and choosing particular strategies to
pursue
,age 2 of 43
strategy implementation ......ANSWER........requires a firm to
establish annual objectives, devise policies motivate employees,
and allocate resources so that formulated strategies can be
executed
strategy evaluation ......ANSWER........the primary means for
obtaining information on whether or not a strategy is working
well; you review external and internal factors, measure
performance, and take corrective actions
corporate, divisional or strategic business unit and functional
......ANSWER........strategy formulation, implementation and
evaluation activities occur at what three hierarchical levels in a
large organization?
intuition ......ANSWER........while strategy formulation is often much
more of science than an art, besides the facts what do
,age 3 of 43
companies often have to rely on in making their strategic
decisions
competitive advantage ......ANSWER........anything that a firm
does especially well compared to rival firms, when a firm can do
something that rival firms cannot do, or owns something that rival
firms desire, that can represent what
sustained competitive advantage ......ANSWER........a firm must
strive to achieve this by continually adapting to changes in
external trends and events and internal capabilities,
competencies, and resources; and by effectively formulating,
implementing and evaluating strategies that capitalize upon
those factors
strategists ......ANSWER........the individuals who are most
responsible for the success or failure of an organization, they
, age 4 of 43
can have various job titles, such as chief executive officer,
president, owner, chair of the board, or entrepreneur
strategist ......ANSWER........these people help an organization
gather, analyze and organize information, they track industry
and competitive trends, develop forecasting models and
scenario analyses, evaluate corporate and divisional
performance, spot emerging market opportunities, identify
business threats and develop creative plans
strategic manager ......ANSWER........the CEO is the most visible
one, but any manager who has responsibility for a unit or
division, responsible for profit and loss outcomes, or direct
authority over a major piece of the business is one of these
Strategic Management: Text and Cases, 9e (Dess)
Strategic Management ......ANSWER........the art and science of
formulating, implementing, and evaluating cross-functional
decisions that enable an organization to achieve its objectives
strategic management ......ANSWER........refers to strategy
formulation, implementation and evaluation
strategic planning ......ANSWER........refers only to strategy
formulation
strategy formulation ......ANSWER........includes developing a
vision and mission, identifying an organization's external
opportunities and threats, determining internal strengths and
weaknesses, establishing long-term objectives, generating
alternative strategies, and choosing particular strategies to
pursue
,age 2 of 43
strategy implementation ......ANSWER........requires a firm to
establish annual objectives, devise policies motivate employees,
and allocate resources so that formulated strategies can be
executed
strategy evaluation ......ANSWER........the primary means for
obtaining information on whether or not a strategy is working
well; you review external and internal factors, measure
performance, and take corrective actions
corporate, divisional or strategic business unit and functional
......ANSWER........strategy formulation, implementation and
evaluation activities occur at what three hierarchical levels in a
large organization?
intuition ......ANSWER........while strategy formulation is often much
more of science than an art, besides the facts what do
,age 3 of 43
companies often have to rely on in making their strategic
decisions
competitive advantage ......ANSWER........anything that a firm
does especially well compared to rival firms, when a firm can do
something that rival firms cannot do, or owns something that rival
firms desire, that can represent what
sustained competitive advantage ......ANSWER........a firm must
strive to achieve this by continually adapting to changes in
external trends and events and internal capabilities,
competencies, and resources; and by effectively formulating,
implementing and evaluating strategies that capitalize upon
those factors
strategists ......ANSWER........the individuals who are most
responsible for the success or failure of an organization, they
, age 4 of 43
can have various job titles, such as chief executive officer,
president, owner, chair of the board, or entrepreneur
strategist ......ANSWER........these people help an organization
gather, analyze and organize information, they track industry
and competitive trends, develop forecasting models and
scenario analyses, evaluate corporate and divisional
performance, spot emerging market opportunities, identify
business threats and develop creative plans
strategic manager ......ANSWER........the CEO is the most visible
one, but any manager who has responsibility for a unit or
division, responsible for profit and loss outcomes, or direct
authority over a major piece of the business is one of these
