Executive Leadership
Exam Bank
Course Introduction
Executive Leadership explores the skills, strategies, and mindsets necessary to lead organizations effectively at the highest levels. This course delves into key topics such as visionary leadership, strategic decision-making, managing organizational change, ethical responsibilities, and fostering innovation. Students will analyze real-world cases, develop personal leadership philosophies, and engage in simulations to enhance their ability to inspire teams, drive organizational growth, and navigate the complexities of global business environments. Emphasis is placed on self-awareness, communication, and adaptive leadership techniques crucial for success in executive roles.
Recommended Textbook
Strategic Management Concepts and Cases Competitiveness 12th Edition by
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13 Chapters
1670 Verified Questions
1670 Flashcards
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Page 2
Michael A. Hitt
Chapter 1: Strategic Management and Strategic Competitiveness
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133 Verified Questions
133 Flashcards
Source URL: https://quizplus.com/quiz/3850
Sample Questions
Q1) Resources are considered rare when they have no structural equivalent.
A)True
B)False
Answer: False
Q2) PGG Mining is making a strategic decision whether to shut down a coal mine in Pennsylvania. It is important to consider that the decision:
A) should be based solely on the results of the CEO's approval of the mine's general manager.
B) has ethical implications for organizational stakeholders.
C) need not be socially responsible if the firm is making below-average returns from the mine.
D) All of these choices are important to consider.
Answer: B
Q3) Risk in terms of financial returns reflects an investor's uncertainty about economic gains or losses that will result from a particular investment.
A)True
B)False
Answer: True
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Chapter 2: The External Environment: Opportunities,
Threats, Industry Competition, and Competitor Analysis
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138 Verified Questions
138 Flashcards
Source URL: https://quizplus.com/quiz/3851
Sample Questions
Q1) An analysis of income distribution would include all of the following EXCEPT:
A) the purchasing power of various age groups.
B) the discretionary income of various ethnic groups.
C) wage differentials between male and female employees working for a large manufacturer.
D) how income is distributed among regions of the United States.
Answer: C
Q2) Buyers are powerful when:
A) there is a threat of forward integration.
B) they purchase a small proportion of the supplier's output.
C) switching costs are low.
D) the buyers' industry is fragmented.
Answer: C
Q3) When rival firms compete aggressively by trying to attract competitors' customers, this might be an indication of:
A) an industry with low exit barriers.
B) increasing economies of scale.
C) slow industry growth.
D) high bargaining power among buyers.
Answer: C
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Available Study Resources on Quizplus for this Chatper
133 Verified Questions
133 Flashcards
Source URL: https://quizplus.com/quiz/3852
Sample Questions
Q1) The need to meet quarterly earnings results causes managers to accurately examine the firm's internal organization.
A)True
B)False
Answer: False
Q2) To provide a sustainable competitive advantage, a capability must satisfy all of the following criteria EXCEPT:
A) be technologically innovative.
B) be hard for competing firms to duplicate.
C) be without good substitutes.
D) be valuable to customers.
Answer: A
Q3) Resources are the source of capabilities, some of which lead to the development of core competencies. In turn, some core competencies may lead to competitive advantage.
A)True
B)False
Answer: True
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Chapter 4: Business-Level Strategy
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131 Verified Questions
131 Flashcards
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Sample Questions
Q1) The best of the generic business strategies is the integrated cost leadership/differentiation strategy.
A)True
B)False
Q2) The differentiation strategy can be effective in controlling the power of rivalry with existing competitors in an industry because:
A) customers will seek out the lowest-cost product.
B) customers of nondifferentiated products are sensitive to price increases.
C) customers are loyal to brands that are differentiated in meaningful ways.
D) the differentiation strategy benefits from rivalry because it forces the firm to innovate.
Q3) Strategic fit among the many activities in the value chain is critical for competitive advantage because it is more difficult for a competitor to match a configuration of integrated activities than to imitate a particular activity, such as sales promotion or a process technology.
A)True
B)False
Q4) Describe the additional risks undertaken by firms pursuing a focus strategy.
Q5) What are the risks of an integrated cost leadership/differentiation strategy?
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Chapter 5: Competitive Rivalry and Competitive Dynamics
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) Competitive dynamics refers to the:
A) circumstances in which competitors are aware of the degree of their mutual interdependence resulting from market commonality and resource similarity. B) set of competitive actions and competitive responses the firm takes to build or defend its competitive advantages and to improve its market position.
C) total set of actions and responses taken by all firms competing within a market. D) ongoing set of competitive actions and competitive responses between competitors as they maneuver for advantageous market position.
Q2) It is more likely that locally owned, one-location cafes in a small town will respond more rapidly to tactical actions by each other than they will to strategic actions by the Burger King franchise that has recently moved to their town.
A)True
B)False
Q3) Firms that are typically late movers usually have little organizational slack.
A)True
B)False
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Chapter 6: Corporate-Level Strategy
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140 Verified Questions
140 Flashcards
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Sample Questions
Q1) As the threat of corporate failure increases due to relatedness between a firm's business units, firms may decide to:
A) increase the firm's level of retained resources.
B) diversify into less risky environments.
C) reduce the level of diversity in its investments.
D) pursue unproven product lines.
Q2) Many manufacturing firms are reducing vertical integration and moving to independent supplier networks.
A)True
B)False
Q3) The more sharing of resources and activities among businesses, the more ____ is the relatedness of the diversification.
A) linked
B) constrained
C) integrated
D) intense
Q4) What are the managerial motives to diversify?
Q5) What are the two ways that an unrelated diversification strategy can create value?
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Chapter 7: Merger and Acquisition Strategies
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131 Verified Questions
131 Flashcards
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Sample Questions
Q1) Manny Inc. recently completed the purchase of its primary supplier. Manny intends to begin expanding the market to which the suppliers' products are sold. This purchase is a(n):
A) merger.
B) unrelated acquisition.
C) horizontal acquisition.
D) vertical acquisition.
Q2) Horizontal, vertical, and related acquisitions to build market power:
A) are likely to undergo regulatory review and analysis by financial markets.
B) are rarely permitted to occur across international borders.
C) typically involve a firm purchasing one of its suppliers or distributors.
D) concentrate on capturing value at more than one stage in the value chain.
Q3) A related acquisition involves two firms in the same industry.
A)True
B)False
Q4) A friendly acquisition:
A) raises the price that has to be paid for a firm.
B) enhances the complementarity of the two firms' assets.
C) facilitates the integration of the acquired and acquiring firms.
D) allows joint ventures to be developed.
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Chapter 8: International Strategy
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129 Verified Questions
129 Flashcards
Source URL: https://quizplus.com/quiz/3857
Sample Questions
Q1) All of the following complicate the implementation of an international diversification strategy EXCEPT:
A) widespread multilingualism.
B) increased costs of coordination between business units.
C) cultural diversity.
D) logistical costs.
Q2) When a firm INITIALLY becomes internationally diversified, its returns:
A) remain stable.
B) decrease.
C) become more variable.
D) increase.
Q3) Which of the following is NOT a disadvantage of international acquisitions?
A) They are very expensive and often require debt financing.
B) The acquiring firm has to deal with the regulatory requirements of a host country.
C) Merging the acquired and acquiring firm is difficult.
D) It is the slowest way to enter a new market.
Q4) Identify and describe the modes of entering international markets. What are their advantages and disadvantages?
Q5) Identify and describe the major risks of international diversification.
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Chapter 9: Cooperative Strategy
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123 Verified Questions
123 Flashcards
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Sample Questions
Q1) ____ strategic alliances have stronger focus on value creation than do ____ alliances.
A) competition reducing; complementary
B) complementary; competition reducing
C) uncertainty reducing; complementary
D) collusive; uncertainty reducing
Q2) The two basic approaches to successfully manage cooperative strategic alliances involve ____ and ____.
A) cost minimization; opportunity maximization
B) monitoring systems; multiple management approaches
C) contractual systems; financial systems
D) equity approaches; nonequity approaches
Q3) In general, cross-border alliances are more ____ and ____ than domestic alliances, especially in emerging markets.
A) uncertainty reducing; diversifying
B) complex; risky
C) highly leveraged; tightly monitored
D) flexible; trust-based
Q4) Identify the three types of corporate-level cooperative strategies.
Q5) Describe the two strategic management approaches to managing alliances.
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Chapter 10: Corporate Governance
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142 Verified Questions
142 Flashcards
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Sample Questions
Q1) In the United States, the primary goal of a firm is to maximize profits to provide a financial gain to shareholders.
A)True
B)False
Q2) One means that is considered to improve the effectiveness of outside directors is:
A) mandating that all outside directors be drawn from government or academia rather than industry.
B) requiring that outside directors be former executives of the firm.
C) requiring outside directors to own significant equity stakes in the firm.
D) requiring that outside directors act objectively and have no ownership interest in the firm.
Q3) Generally, a Board member who is a source of information about a firm's day-to-day activities is classified as a(n) ____ director.
A) lead independent
B) inside
C) related
D) encumbered
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Chapter 11: Organizational Structure and Controls
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136 Verified Questions
136 Flashcards
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Sample Questions
Q1) Firms using the differentiation strategy need to respond quickly to environmental opportunities and threats. The structural features that are best for these requirements are centralization, specialization, and many rules and procedures.
A)True
B)False
Q2) Typically, a successful firm pursuing a differentiation strategy will:
A) have a very hierarchical structure.
B) require a structure that is very formal.
C) use cross-functional development teams.
D) develop free-standing business units.
Q3) The three multidivisional structures that are used to implement a diversification strategy are the competitive form, the strategic business unit form, and the integrated form.
A)True
B)False
Q4) Strategy has an important influence on structure, once a particular structure is in place, that structure influences strategy.
A)True
B)False
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Chapter 12: Strategic Leadership
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118 Verified Questions
118 Flashcards
Source URL: https://quizplus.com/quiz/3861
Sample Questions
Q1) Discuss how the managerial succession process and the composition of the top management team interact to affect strategy.
Q2) What is a top management team, and how does it affect a firm's performance and its abilities to innovate and design and implement effective strategic changes?
Q3) The advantages of long tenure (firm-specific human and social capital, knowledge, and power) seem to outweigh the disadvantages of rigidity and maintaining the status quo.
A)True
B)False
Q4) Which of the statements about CEO duality is FALSE?
A) CEO duality is associated with high CEO power.
B) CEO duality has been blamed for slow response to change by the organization.
C) CEO duality is relatively rare in the U.S. except in large Fortune 500 firms.
D) If the CEO acts a steward, CEO duality facilitates effective decisions and actions.
Q5) Define human capital and its importance to the firm's success.
Q6) As a strategic leader, what actions could you take to establish and emphasize ethical practices in your firm?
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Chapter 13: Strategic Entrepreneurship
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109 Verified Questions
109 Flashcards
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Sample Questions
Q1) Discuss the benefits and risks of acquiring another firm to gain access to innovations.
Q2) ____ involves internally developed incremental and novel innovations that result from deliberate efforts.
A) Internal corporate venturing
B) Autonomous strategic behaviors
C) Bottom-up strategic behaviors
D) Product championing
Q3) The development of the original personal computer (PC) was a(n) ____ innovation at the time, whereas adding a different kind of whitening agent to a soap detergent in an example of a(n) ____ innovation.
A) incremental; novel
B) novel; incremental
C) concentric; novel
D) novel; concentric
Q4) Firms develop innovations in all the following ways EXCEPT:
A) through autonomous or induced strategic behavior.
B) by acquiring other companies.
C) through cooperative strategies.
D) via divestiture of low-performing units.
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