Leadership and Strategy Study Guide Questions
Course Introduction
This course explores the dynamic relationship between leadership and strategic management within organizations. Students will examine key leadership theories, styles, and practices that drive effective decision-making and strategic direction. Emphasis is placed on how leaders develop, communicate, and implement strategy to navigate complex, competitive environments. Through case studies and real-world scenarios, the course fosters critical thinking about ethical leadership, organizational change, and the challenges of aligning vision, culture, and strategic objectives for long-term success.
Recommended Textbook Essentials of Strategic Management 3rd Edition by
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9 Chapters
712 Verified Questions
712 Flashcards
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Page 2
Charles W. L. Hill
Chapter 1: The Strategy-Making Process
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80 Verified Questions
80 Flashcards
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Sample Questions
Q1) The feedback loop suggests that strategic planning is ongoing; it never ends.
A)True
B)False
Answer: True
Q2) The essential purpose of the external analysis is to identify strategic opportunities and threats in the organization's operating environment that will affect how it pursues its mission.
A)True
B)False
Answer: True
Q3) Superior performance is typically thought of in terms of one company's profitability relative to that of other companies in the same or a similar kind of business or industry.
A)True
B)False
Answer: True
Q4) Strategy formulation involves putting the strategies (or plan) into action.
A)True
B)False Answer: False
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Chapter 2: The Mission, Governance, and Business Ethics
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83 Verified Questions
83 Flashcards
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Sample Questions
Q1) When managers pay bribes to gain access to lucrative business contracts they are engaging in
A) opportunistic exploitation.
B) corruption
C) self-dealing.
D) information manipulation.
E) utilitarian ethics
Answer: B
Q2) Examples of external stakeholders are the members of the board of directors.
A)True
B)False
Answer: False
Q3) The most common pay-for-performance system have been to give managers
A) semi-annual bonuses
B) annual pay increases
C) capital increases
D) stock options.
E) none of the above
Answer: D
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Chapter 3: External Analysis: the Identification of Opportunities and Threats
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80 Verified Questions
80 Flashcards
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Sample Questions
Q1) Which of the following is not a determinant of the extent of rivalry among established companies?
A) The number and size distribution of companies in the industry
B) The power of buyers
C) The cost structure of firms in an industry
D) Exit barriers
E) Demand conditions
Answer: B
Q2) Managers must anticipate how the strength of industry competitive forces will change as the industry evolves and then formulate appropriate strategies to take advantage of opportunities.
A)True
B)False
Answer: True
Q3) Absolute cost advantage is enjoyed by incumbents in an industry and that new entrants cannot expect to match.
A)True
B)False
Answer: True
Page 5
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Chapter 4: Building Competitive Advantage
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Sample Questions
Q1) Which of the following is not an example of a human resources strategy that could help improve organizational efficiency?
A) Hiring strategy
B) Just-in-time inventory system
C) Eliminating supervisors and flattening the organizational structure
D) Self-managing teams
E) Pay for performance
Q2) Which of the following is not part of the positioning strategy that a company adopts for a product?
A) price
B) product features
C) focus groups
D) advertising
E) promotion
Q3) Customer defection rates are determined by customer loyalty which is a function of a company's ability to satisfy its customers.
A)True
B)False
Q4) Comment on this statement: "No competitive advantage lasts forever."
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Chapter 5: Business-Level Strategy and Competitive Positioning
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78 Flashcards
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Sample Questions
Q1) Companies with a differentiation advantage can charge a higher price for their products.
A)True
B)False
Q2) A price-cutting strategy will always keep potential entrants from entering the industry.
A)True
B)False
Q3) The process of defining a business should address the questions: "What is to be satisfied?," "Who is to be satisfied?," and "How will they be satisfied?"
A)True
B)False
Q4) Cost leaders ignore the many different market segments in an industry and position their products to appeal to the "average" customer.
A)True
B)False
Q5) Market segmentation addresses the "who" portion of a firm's business model.
A)True
B)False
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Chapter 6: Strategy in the Global Environment
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Sample Questions
Q1) A localization strategy is based on which of the following ideas?
A) There is a convergence in the tastes of consumers in different nations of the world.
B) There are substantial economies of scale to be realized from centralizing global production.
C) Consumer tastes and preferences differ among national markets.
D) There are cost advantages associated with manufacturing a standard product for global consumption.
E) Competitive strategy should be centralized at the world head office.
Q2) Companies that compete in the global marketplace typically face two types of competitive pressures, cost reductions and expanding globally.
A)True
B)False
Q3) A problem with the international strategy is that over time, competitors inevitably emerge, and if managers do not take pro-active steps to reduce their cost structure, their company may be rapidly out-flanked by efficient global competitors.
A)True
B)False
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8
Chapter 7: Corporate-Level Strategy and Long-Run Profitability
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Sample Questions
Q1) Taper integration occurs when a company buys from two or more independent suppliers at the same time.
A)True
B)False
Q2) Horizontal integration rarely allows companies to realize economies of scale.
A)True
B)False
Q3) A company may be able to differentiate its final products better by outsourcing certain noncore activities to specialists.
A)True
B)False
Q4) Vertical integration protects product quality, enabling a company to become a differentiated player in its core business.
A)True
B)False
Q5) Diversification is the process of a company entering new industries distinct from its core industry.
A)True
B)False
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Chapter 8: Strategic Change: Implementing Strategies to
Build and Develop a Company
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Sample Questions
Q1) Which of the following is not one of the organizational levels where obstacles to change may be found?
A) Enterprise
B) Divisional
C) Corporate
D) Functional
E) Individual
Q2) After an acquisition, acquired companies experience high management turnover.
A)True
B)False
Q3) Even if it lacks the competencies required to compete in a new business, a company may pursue an internal venturing strategy if the industry it is entering is a(n) ________________ industry.
A) mature
B) declining
C) stagnant
D) growing
E) emerging
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Chapter 9: Implementing Strategy Through Organizational Design
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Sample Questions
Q1) Flat organizational structures have few hierarchical levels relative to size.
A)True
B)False
Q2) Which of the following is not one of the problems in implementing a multidivisional structure?
A) Establishing the divisional-corporate authority relationship
B) Distortion of information
C) Long-term R&D focus
D) Competition for resources
E) Transfer pricing
Q3) Strategic control systems
A) enable a company to evaluate whether it is successfully implementing its strategy.
B) help managers determine which generic strategy to pursue.
C) are used only at the business level.
D) allow firms to control the external environment.
E) are most effective for firms pursuing cost leadership.
Q4) The product-team structure relies on the multi-divisional teams.
A)True
B)False
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