Leadership and Strategy
Textbook Exam Questions
Course Introduction
This course explores the dynamic relationship between leadership and strategic management in organizations. Students will examine essential leadership theories, styles, and behaviors, and learn how effective leadership drives the formulation and implementation of organizational strategy. Through case studies, group discussions, and practical exercises, the course emphasizes critical thinking, ethical decision-making, and the skills necessary to lead teams and navigate complex business environments. By the end of the course, students will understand how strong leadership can influence strategic direction, foster innovation, and achieve sustainable organizational success.
Recommended Textbook
Concepts in Strategic Management and Business Policy 15th Edition by Thomas L. Wheelen
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Chapter 1: Basic Concepts in Strategic Management
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Sample Questions
Q1) When an organization is evaluating its strategic position,which is not one of the strategic questions that an organization generally may ask itself?
A) Where is the organization now?
B) Are we on target to hit our financial objectives next year?
C) If no changes are made, where will the organization be in one year?
D) If the evaluation is negative, what specific actions should management take?
E) If no changes are made, where will the organization be in 10 years?
Answer: B
Q2) Which of the following is an example of a policy?
A) Diversify product line to appeal to more people.
B) Increase sales by ten percent over last year.
C) Only acquire companies of 75 employees or more; 75 percent must be engineers.
D) Develop and sell quality appliances worldwide.
E) Diversify from retailing into delivery.
Answer: C
Q3) One tenet of the learning organization is to maintain stability.
A)True
B)False
Answer: False
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Page 3
Chapter 2: Corporate Governance
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Sample Questions
Q1) The combined chairperson/CEO position is being increasingly criticized because of the potential for conflict of interest.
A)True
B)False
Answer: True
Q2) Society increasingly expects corporate boards to balance the economic goal of profitability with the social needs of society.
A)True
B)False
Answer: True
Q3) The U.S.Clayton Act and the Banking Act of 1933
A) promote interlocking directorates by U.S. companies to foster better communications and working relationships.
B) prohibit acts or contracts tending to create a monopoly.
C) prevent unfair practices in interstate commerce.
D) promote racial parity on the board of directors.
E) prohibit interlocking directorates by U.S. companies competing in the same industry.
Answer: E
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4
Chapter 3: Social Responsibility and Ethics in Strategic Management
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Sample Questions
Q1) Archie Carroll's four responsibilities listed in order of priority are
A) legal, economic, ethical, and discretionary.
B) legal, ethical, discretionary, and economic.
C) economic, legal, ethical, and discretionary.
D) economic, ethical, discretionary, and legal.
E) ethical, economic, legal, and discretionary.
Answer: C
Q2) The difference between ethical and discretionary responsibilities is that few people expect an organization to fulfill ethical responsibilities.
A)True
B)False
Answer: False
Q3) There is no truth to the comment that "business ethics" is an oxymoron.
A)True
B)False
Answer: False
Q4) Kohlberg places 80 percent of U.S.adults in the principled level of development.
A)True
B)False
Answer: False
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Chapter 4: Environmental Scanning and Industry Analysis
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Sample Questions
Q1) Faulty underlying assumptions are the most frequent cause of forecasting errors.
A)True
B)False
Q2) According to Miles and Snow,reactors are companies with a limited product line that focus on improving the efficiency of their existing operations.
A)True
B)False
Q3) Which one of the following is not part of the process of developing industry scenarios?
A) Examine possible shifts in societal variables.
B) Identify uncertainties in each of the six forces in the task environment.
C) Generate at least 15 scenarios.
D) Make a range of plausible assumptions about future trends.
E) Analyze the industry situation that would prevail under each scenario.
Q4) Describe the four general forces in the societal environment.
Q5) Key success factors seldom vary from industry to industry.
A)True
B)False
Q6) Distinguish between a fragmented and consolidated industry.
Q7) Discuss the most commonly practiced form of forecasting.
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Chapter 5: Organizational Analysis and Competitive Advantage
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Sample
Questions
Q1) Continuous manufacturing systems reap benefits from economies of scale.
A)True
B)False
Q2) On the continuum of resource sustainability,where would streaming movies be placed?
A) slow-cycle resources
B) sustainable resources
C) standard-cycle resources
D) fast-cycle resources
E) down-cycle resources
Q3) New product development would be a core competency if it goes beyond one division.
A)True
B)False
Q4) A value chain is a linked set of value-creating activities.
A)True
B)False
Q5) Core competencies may mature and become core deficiencies.
A)True
B)False
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Chapter 6: Strategy Formulation: Business Strategy
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Sample Questions
Q1) When firms follow each other's lead to reduce the level of competition such as GE and Westinghouse did in steam turbines,it is referred to as
A) explicit collusion.
B) a strategic alliance.
C) a mutual service consortium.
D) conscious parallelism.
E) partnering.
Q2) An example of a company following a cost focus strategy is Potlach Corporation,which makes house brands of toilet paper for Safeway and other grocery store chains.
A)True
B)False
Q3) In licensing arrangements,which of the following is not true?
A) The licensee can gain technical expertise.
B) Companies can be aided in entering new countries directly.
C) The licensee might become a competitor to the licensing firm if they license their distinctive competencies.
D) Companies should never license their distinctive competencies.
E) The licensee is usually following a differentiation strategy.
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Page 8
Chapter 7: Strategy Formulation: Corporate Strategy
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Sample Questions
Q1) The stability strategy is appropriate for all of the following circumstances EXCEPT A) useful in the short-run but can be dangerous if followed too long.
B) most appropriate for reasonably successful corporations in a reasonably predictable environment.
C) when a firm is continuing its current activities without a significant change in direction.
D) appropriate when the industry is in decline.
E) popular with small business owners who have found a niche and are happy with their success.
Q2) Stability strategies can be very useful in the short run,but they can be dangerous if followed for too long.
A)True
B)False
Q3) Strategic managers who adopt a conglomerate diversification strategy are primarily concerned with financial considerations of cash flow or risk reduction.
A)True
B)False
Q4) Define a retrenchment strategy.Discuss the more popular options.
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Chapter 8: Strategy Formulation: Functional Strategy and Strategic Choice
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Sample Questions
Q1) The automobile industry is currently experimenting with the strategy of mass customization in which pre-assembled sub-assemblies are delivered as they are needed to a company's assembly line workers.
A)True
B)False
Q2) What is a corporate scenario? What are the three steps in their construction?
Q3) In a leveraged buyout,the acquired company,in effect,pays for its own acquisition.
A)True
B)False
Q4) Give an example of a technological leader.
Q5) Outsourcing is the reverse of vertical integration.
A)True
B)False
Q6) Avon is an example of a company that demonstrated having a diverse workforce
A) can be a competitive advantage.
B) can lower productivity.
C) can be an effective logistics strategy.
D) can hinder quality.
E) hinders growth.
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Chapter 9: Strategy Implementation: Global Strategy
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Sample Questions
Q1) In international dealings,green-field development is
A) a way in which an MNC may contract with a foreign government or local firm to trade raw materials for certain resources belonging to the MNC.
B) a way in which an MNC can take total control of operations by acquiring a firm already established in the host country.
C) when a corporation chooses to build a facility from scratch allowing it the freedom to design the plant, choose suppliers, and hire its workforce.
D) when an MNC has a large amount of management talent available and chooses to use its personnel to assist a firm in a host country for a specified fee and period of time.
E) contracting for construction of operating facilities in exchange for a fee.
Q2) Transferring profits from a foreign subsidiary to the parent corporation through dividends,royalties,or management fees is called
A) technology transfer.
B) activity-based costing.
C) transfer pricing.
D) repatriation of profits.
E) transnational funding.
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Page 11
Chapter 10: Strategy Implementation: Organizing and Structure
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Sample Questions
Q1) An organization that is composed of cells that can operate alone but that can interact with other cells to produce a more potent and competent business mechanism is referred to as a(n)
A) reengineered organization.
B) virtual organization.
C) modular organization.
D) network organization.
E) ongoing organization.
Q2) Those who implement strategy will probably be a much more diverse set of people than those who formulate it.
A)True
B)False
Q3) When Kimberly-Clark introduced Huggies disposable diapers against Procter & Gamble's market leading Pampers,they were using the offensive tactic known as a(n)
A) flanking maneuver.
B) frontal assault.
C) encirclement.
D) bypass attack.
E) guerilla attack.
Page 12
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Chapter 11: Strategy Implementation: Staffing and Directing
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Sample Questions
Q1) Firms in trouble seldom choose outsiders to lead them.
A)True
B)False
Q2) Which method of managing disparate cultures involves a relatively balanced give-and-take of cultural and managerial practices between the merger partners,and no strong imposition of cultural change on either company?
A) separation
B) deculturation
C) integration
D) assimilation
E) segmentation
Q3) 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
Q4) To successfully downsize,companies must invest in the remaining employees.
A)True
B)False
Q5) List the guidelines proposed for successful downsizing.
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Chapter 12: Evaluation and Control
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Sample Questions
Q1) What is ERP? What are the three reasons why ERP could fail?
Q2) Which of the following is not one of the reasons many executives do not conduct long-run performance evaluations,preferring to focus primarily on short-run performance?
A) They do not realize their importance.
B) They are not personally evaluated on a long-term basis.
C) They believe short-run results are the most important.
D) They do not have the time to make a long-run analysis.
E) They do not believe in strategic planning.
Q3) Return on investment (ROI) is the most widely used measure of performance in what responsibility center?
A) revenue center
B) expense center
C) investment center
D) profit center
E) standard cost center
Q4) Unlike ROI,managers cannot manipulate the numbers of EVA.
A)True
B)False
Q5) List the five-step feedback model of the evaluation and control process.
Page 14
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Chapter 13: Suggestions for Case Analysis
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Sample Questions
Q1) What are constant dollars and why are they important?
Q2) A Z-value below 10 indicates significant credit problems.
A)True
B)False
Q3) Which financial indicator measures the number of one day's worth of inventory that a company has on hand at any given time?
A) days of cash
B) days of inventory
C) average collection period
D) fixed asset turnover
E) inventory turnover
Q4) According to the text,what percentage of security analysts use annual reports when making decisions?
A) 20%
B) 35%
C) 50%
D) 75%
E) 100%
Q5) What are common-size statements?
Q6) In performing a basic financial analysis,what five steps should be taken?
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