Leadership and Strategy Test Preparation
Course Introduction
Leadership and Strategy examines the critical relationship between effective leadership and the development and execution of organizational strategies. This course explores core leadership theories, decision-making processes, and the dynamics of leading teams and organizations through periods of change and uncertainty. Students will analyze real-world case studies to assess how leaders at various levels influence strategic direction, foster innovation, drive performance, and navigate complex business environments. Emphasis is placed on ethical leadership, strategic vision, and the alignment of organizational resources to achieve long-term success.
Recommended Textbook
Foundations of Strategy 1st Canadian Edition by Robert M. Grant
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10 Chapters
579 Verified Questions
579 Flashcards
Source URL: https://quizplus.com/study-set/2392
Page 2
Chapter 1: The Concept of Stategy
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59 Verified Questions
59 Flashcards
Source URL: https://quizplus.com/quiz/47517
Sample Questions
Q1) A sound strategy relies on four factors: simple, long-term and consistent goals; profound understanding of the competitive environment; objective appraisal of resources; and effective implementation of strategic decisions.
A)True
B)False
Answer: True
Q2) As the environment becomes more turbulent, or unpredictable,
A)strategy appears to not be very useful.
B)strategy remains just as vital a tool to navigate the firm through "stormy seas".
C)strategy is put into the hands of external consultants.
D)strategy becomes an "impossible exercise".
Answer: B
Q3) Strategy is fundamentally about
A)being better than rivals.
B)success in achieving long-term goals.
C)satisfying all stakeholders.
D)being an excellent "corporate citizen".
Answer: B
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3
Chapter 2: Industry Analysis
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58 Verified Questions
58 Flashcards
Source URL: https://quizplus.com/quiz/47518
Sample Questions
Q1) The question "What do customers want?"
A)is not relevant because customers will show their preferences through their behaviour.
B)must be asked by managers, and an accurate answer obtained and understood, since it's the driving force behind generating profit.
C)can be outsourced to a market research company.
D)is best answered by ensuring that certain managers are educated in Marketing.
Answer: B
Q2) Porter's 5 Forces model was based on a static, stable view of industry which ignores dynamic forces
A)because industries in Porter's day were not very dynamic.
B)which can easily be dealt with by taking a dynamic perspective of the forces e.g. Innovation is a consequence of Rivalry.
C)and so has outlived its usefulness, and should be replaced with something more up to date.
D)which was Porter's intention, because you have to "walk before you can run".
Answer: B
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Chapter 3: Resources and Capabilities
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64 Verified Questions
64 Flashcards
Source URL: https://quizplus.com/quiz/47519
Sample Questions
Q1) The final appraisal of the strengths and weaknesses of a firm's resources & capabilities
A)is a quantitative appraisal by an objective outside body.
B)requires insight and understanding of a firm's industry, and its position within the industry.
C)requires artistic flair and creative questioning.
D)requires detailed knowledge of business strategy theory, and all its intellectual roots.
Answer: B
Q2) Hyundai overcame the most difficult competitive advantages held by the incumbent automakers by
A)recruiting experts from other auto companies.
B)benchmarking the key capabilities needed to succeed, then making clear commitments to achieve them.
C)making long-term financial and business commitments to the auto industry.
D)all of the above.
Answer: D
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Chapter 4: The Nature and Sources of Competitive
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50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/47520
Sample Questions
Q1) To successfully imitate the strategy of another firm, an organization must
A)identify and diagnose the rival's advantage, believe in its ability to deliver a superior return, and, finally, acquire the resource.
B)identify and diagnose the rival's advantage, and then acquire the resource.
C)benchmark the rival's activities and resources, believe in a superior return, and build the rival's resource in-house.
D)benchmark the rival's activities and resources, identify the rival's weaknesses, and, finally, believe in its ability to deliver a superior return.
Q2) Entrepreneurship can be defined as the ability to identify and rapidly respond to opportunities in the environment.
A)True
B)False
Q3) In industries like finance where genuinely unique resources or capabilities are hard to find, imitation is fast and sustainable competitive advantage is hard to achieve.
A)True
B)False
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Chapter 5: Industry Evolution and Strategic Change
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53 Verified Questions
53 Flashcards
Source URL: https://quizplus.com/quiz/47521
Sample Questions
Q1) An industry life cycle
A)always follows the theoretical pattern.
B)may never enter the decline phase, in some industries supplying basic essential products or services.
C)must be the same everywhere, due to globalisation.
D)can never really experience a resurgence.
Q2) Firms entering a new industry who were already established in a related industry are sometimes known as
A)dallaglio entrants.
B)de aglio entrants.
C)de alio entrants.
D)de olio entrants.
Q3) The determining factors of how calamitous the Decline phase turns out to be are
A)the way capacity is dismantled as demand declines, and how dramatic is the decline in demand.
B)whether a price war breaks out, and how many firms remain.
C)the actions of foreign competition, and how fast workers can be fired.
D)how quickly the new industry can ramp up production, and what prices they sell at.
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Chapter 6: Technology-Based Industries and the Management of Innovation
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67 Verified Questions
67 Flashcards
Source URL: https://quizplus.com/quiz/47522
Sample Questions
Q1) Only digital technology is of interest outside of the science-based industries.
A)True
B)False
Q2) Network externalities exist when
A)the value of a product for a customer lies in how many others he can connect to.
B)the value of a product for a customer depends significantly on the number of other users of the same product.
C)there are large benefits to other customers.
D)there are huge drawbacks for other customers.
Q3) Regarding innovations, complementary resources are all the other things apart from the invention or idea necessary to achieve commercial success.
A)True
B)False
Q4) Which exploitation strategy is best for an innovation depends entirely on whether the innovator prefers to licence out the underlying patent or copyright.
A)True
B)False
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Chapter 7: Corporate Stategy
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74 Verified Questions
74 Flashcards
Source URL: https://quizplus.com/quiz/47523
Sample Questions
Q1) High-powered incentives and low-powered incentives respectively generally apply to
A)externally and internally sourced inputs.
B)internally and externally sourced inputs.
C)market and alliance sourced inputs.
D)joint venture and alliance sourced inputs.
Q2) Vertical integration secures a higher ratio of added value to input costs for a company.
A)True
B)False
Q3) Which of these choices is NOT an example of a vertical relationship?
A)a franchise agreement
B)an exclusive single-supplier agreement
C)a long-term agreement with competitors to fix the market price for a commodity product
D)a joint development group between a supplier and a customer
Q4) Where there is volatile, uncertain demand for a resource, it is more likely that this resource will be outsourced, but NOT in all cases.
A)True
B)False
Page 9
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Chapter 8: Realizing Stategy
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53 Verified Questions
53 Flashcards
Source URL: https://quizplus.com/quiz/47524
Sample Questions
Q1) The Deepwater Horizon oil spill taught us that A)giant firms are often too ambitious.
B)even the most professional risk plans can ignore some major risks.
C)confused responsibilities can emerge from trying to coordinate complex teams and systems.
D)b and c.
Q2) A matrix structure means a firm is formally organized by A)executive committees.
B)products, geography and functions simultaneously.
C)products, functions and structure simultaneously.
D)either a or c.
Q3) This chapter focuses on the things that influence the way a strategy is realised.
A)True B)False
Q4) There is NOT usually much difference between a planned strategy and its realization. A)True B)False
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10
Chapter 9: Global Strategies and the Multinational Corporation
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66 Verified Questions
66 Flashcards
Source URL: https://quizplus.com/quiz/47525
Sample Questions
Q1) International strategic alliances allow
A)governments to share national resources.
B)retailers to control their suppliers.
C)strong firms to dominate weak ones without having to buy them.
D)firms to share resources and capabilities.
Q2) Porter's national diamond framework identifies four factors that determine a company's competitive advantage within a sector.
A)True
B)False
Q3) The primary source of scale economies nowadays is the cost of developing new products.
A)True
B)False
Q4) International business strategy has largely identified and solved the main issues faced by practical business people in the twenty-first century.
A)True
B)False
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Chapter 10: Corporate Responsibility
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35 Verified Questions
35 Flashcards
Source URL: https://quizplus.com/quiz/47526
Sample Questions
Q1) The global financial crisis showed that the boards of most financial institutions understood the risks they were running, but did not tell shareholders the extent of these risks until too late.
A)True
B)False
Q2) A SIM is a framework for helping categorize jurisdictions by their
A)strategies, innovation, and management.
B)social, innovation, and sustainability components.
C)sustainability, investment, and management components.
D)social, economic, and environmental sustainability components.
Q3) Researchers found that higher sales and market share can be attained by employing sustainable strategies.
A)True
B)False
Q4) Despite economic and financial troubles, politically and socially the first decade of the twenty-first century started smoothly.
A)True
B)False
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