Leadership and Strategy Exam Solutions
Course Introduction
This course explores the essential principles and practices of leadership in the context of organizational strategy. Students will examine how effective leaders influence strategic decision-making, inspire teams, and drive organizational change to achieve long-term goals. Key topics include leadership styles, ethical decision-making, vision development, strategic planning, implementation, and evaluation. Through case studies, group discussions, and real-world applications, participants will develop the skills and insight needed to lead organizations successfully in dynamic and competitive environments.
Recommended Textbook Concepts in Strategic Management and Business Policy 14th Edition by Thomas L. Wheelen
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12 Chapters
1254 Verified Questions
1254 Flashcards
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Page 2
Chapter 1: Basic Concepts in Strategic Management
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106 Verified Questions
106 Flashcards
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Sample Questions
Q1) A hierarchy of strategy emphasizes the need for the three levels of strategy to complement and support one another.
A)True
B)False
Answer: True
Q2) Which of the following is an example of a program?
A) Diversify product line to appeal to more people.
B) Increase sales by 10% over last year.
C) Must be #1 wherever we compete.
D) Develop and sell quality appliances worldwide.
E) Reduce final assembly time to three days by having suppliers build plan sections.
Answer: E
Q3) Population ecology is a theory that proposes organizations can and do adapt to change by imitating other successful organizations.
A)True
B)False
Answer: False
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Chapter 2: Corporate Governance
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97 Verified Questions
97 Flashcards
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Sample Questions
Q1) Codetermination
A) is the process by which both management and the board establish corporate strategic management.
B) is the inclusion of a corporation's employees on its board.
C) occurs when one or more individuals on one board also serve on other boards.
D) is present when all board members are also employed by the corporation.
E) occurs when minority shareholders concentrate their votes.
Answer: B
Q2) A direct interlocking directorate occurs when two corporations have directors who also serve on the board of a third firm.
A)True
B)False
Answer: False
Q3) The SEC requires that the audit, nominating and compensation committees are staffed entirely by outside directors.
A)True
B)False
Answer: True
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Chapter 3: Ethics and Social Responsibility in Strategic Management
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97 Verified Questions
97 Flashcards
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Sample Questions
Q1) According to a 2011 National Business Ethics survey, what percent of respondents who observed corporate misconduct rated their cultures as weak?
A) 90
B) 70
C) 50
D) 30
E) 10
Answer: A
Q2) Kohlberg's preconventional level is characterized by a person's adherence to an internal moral code.
A)True
B)False Answer: False
Q3) The statement, "When in Rome, do as the Romans do," reflects the essence of cultural relativism.
A)True
B)False Answer: True
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Chapter 4: Environmental Scanning and Industry Analysis
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116 Verified Questions
116 Flashcards
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Sample Questions
Q1) Multidomestic industries are specific to each country or group of countries.
A)True
B)False
Q2) Environmental scanning is the monitoring, evaluating, and disseminating of information from the external environment to key people within the corporation.
A)True
B)False
Q3) According to Miles and Snow, most major U.S. airlines have reflected which strategic orientation?
A) initiators
B) reactors
C) analyzers
D) prospectors
E) defenders
Q4) A.C. Nielsen is an example of an outside organization providing a firm with competitive intelligence.
A)True
B)False
Q5) Describe the four general forces in the societal environment.
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Chapter 5: Internal Scanning and Organizational Analysis
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109 Verified Questions
109 Flashcards
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Sample Questions
Q1) When a company determines that a competency provides a competitive advantage, Barney refers to this issue as A) value.
B) rareness.
C) imitability.
D) organization.
E) durability.
Q2) When a company takes apart a competitor's product in order to find out how it works, this process is known as
A) durability.
B) replicability.
C) reverse engineering.
D) transparency.
E) transferability.
Q3) An example of a cluster in the United States is computer technology found in the Silicon Valley.
A)True
B)False
Q4) What is corporate culture and what are the two distinct attributes of culture?
Q5) What is R&D intensity?
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Chapter 6: Strategy Formulation: Situation Analysis and Business Strategy
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104 Verified Questions
104 Flashcards
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Sample Questions
Q1) The "cell" chip created by IBM, Sony Electronics, and Toshiba was a result of pooling their resources in a
A) joint venture.
B) licensing arrangement.
C) value-chain partnership.
D) mutual service consortium.
E) competitive advantage.
Q2) The concept that advocates management's attempt to find a strategic fit between external opportunities and internal strengths while working around external threats and internal weaknesses is called
A) environmental analysis.
B) position analysis.
C) strategic evaluation.
D) objective analysis.
E) situation analysis.
Q3) One danger of D'Aveni's concept of hypercompetition is that it may lead to an overemphasis on short-term tactics over long-term strategy.
A)True
B)False
Page 8
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Chapter 7: Strategy Formulation: Corporate Strategy
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103 Verified Questions
103 Flashcards
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Sample Questions
Q1) As defined by the text, synergy is the concept
A) that involves adding different products or divisions to the corporation.
B) that supports divestiture of one corporation by another.
C) that two firms can generate more profits together than separately.
D) that a corporation can enter one or more businesses that are necessary to manufacture its own product.
E) that two functional areas of a corporation can coordinate their work as a team.
Q2) When P&G, Kimberly-Clark, and Scott Paper compete with each other in varying combinations of consumer paper products, they are said to be engaging in
A) oligopolistic competition.
B) strategic competition.
C) multipoint competition.
D) laissez-faire competition.
E) horizontal competition.
Q3) Vertical integration is going backward on an industry's value chain.
A)True
B)False
Q4) Why is growth a very attractive strategy?
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9
Chapter 8: Strategy Formulation: Functional Strategy and Strategic Choice
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) When Smith & Wesson puts its name on others' products like men's cologne, it is using which marketing strategy?
A) demand pricing
B) brand pricing
C) brand extension
D) penetration extension
E) demand extension
Q2) Give an example of a technological leader.
Q3) What is a functional strategy?
Q4) Which of the following reflects the impact of industry backgrounds on strategic choices?
A) Executives from other industries tend to make riskier decisions.
B) Executives with strong ties within an industry tend to choose strategies commonly used in that industry.
C) Executives from other industries tend to downsize as a first choice.
D) Executives with strong ties within an industry tend to make riskier decisions.
E) Executives from other industries tend to emphasize ROI.
Q5) Distinguish between a market development and a product development strategy.
Q6) Discuss W. Edward Deming's position on sole sourcing.
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Chapter 9: Strategy Implementation: Organizing for Action
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108 Verified Questions
108 Flashcards
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Sample Questions
Q1) According to the job characteristics model, how might a manager redesign work to make workers more responsible and accountable for the performance of the job?
A) combine tasks
B) form natural work units
C) establish client relationships
D) vertically load
E) open feedback channels
Q2) How can a corporation's life cycle be extended?
Q3) What is synergy? According to Goold and Campbell, what are the six forms it can take?
Q4) Under Stage III, when various units of the company optimize their sales and profits without regard to the overall corporation, the organization may be experiencing a A) crisis of leadership.
B) crisis of control.
C) crisis of autonomy.
D) crisis of decentralization.
E) crisis of empowerment.
Q5) Discuss the network structure.
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Chapter 10: Strategy Implementation: Staffing and Directing
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) A dynamic industry expert is someone with an analytical mind who is highly knowledgeable in other industries and can manage diverse product lines.
A)True
B)False
Q2) According to Hofstede's cultural dimensions, which country scored among the lowest on uncertainty avoidance?
A) Malaysia
B) Mexico
C) Austria
D) United States
E) Great Britain
Q3) What three general practices were identified by Black and Gregersen in companies which do a good job of managing foreign assignments?
Q4) Staffing requirements are likely to follow a change in strategy.
A)True
B)False
Q5) Executive succession is the process of replacing a key top manager.
A)True
B)False
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Chapter 11: Evaluation and Control
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) An advantage of ROI as a measure of performance is that
A) it is sensitive to book value.
B) it provides an incentive to use existing assets efficiently.
C) the time span of concern is short range.
D) the business cycle strongly affects ROI performance often despite managerial performance.
E) it is very sensitive to depreciation policy.
Q2) A profit center is typically established whenever an organizational unit has control over both its resources and its products or services.
A)True
B)False
Q3) One of the obstacles to effective control is the difficulty in developing appropriate measures of important activities and outputs.
A)True
B)False
Q4) Evaluation and control information consists only of performance data.
A)True
B)False
Q5) Discuss the guidelines for proper control.
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Chapter 12: Suggestions for Case Analysis
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Sample Questions
Q1) At what Z-value level is a firm considered healthy?
A) below 1.81
B) above 3.0
C) above 5.0
D) between 6.0 and 10.0
E) above 100
Q2) Which financial ratio indicates the dividend rate of return to common shareholders at the current market price?
A) return on equity
B) dividend yield on common stock
C) price/earnings ratio
D) dividend payout ratio
E) earnings per share
Q3) Key liquidity ratios include the current ratio, quick ratio, and cash ratio.
A)True
B)False
Q4) A Z-value below 10 indicates significant credit problems.
A)True
B)False
Q5) What are constant dollars and why are they important?
Page 14
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