Strategic Management Exam Solutions
Course Introduction
Strategic Management is a comprehensive course that explores the theories, frameworks, and analytical tools necessary for formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives. Students will learn how to assess the internal and external environments of an organization, develop sustainable competitive advantages, and align resources to strategic goals. Real-world case studies and practical exercises guide students through topics such as industry analysis, corporate governance, strategic leadership, business-level and corporate-level strategies, and the management of innovation and change. The course prepares students to think critically, make strategic decisions, and effectively lead organizations in dynamic and competitive markets.
Recommended Textbook
The Mind and Heart of the Negotiator 6th Edition by Leigh Thompson
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12 Chapters
330 Verified Questions
330 Flashcards
Source URL: https://quizplus.com/study-set/3276
Page 2
Chapter 1: Negotiation: The Mind and Heart
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23 Verified Questions
23 Flashcards
Source URL: https://quizplus.com/quiz/65048
Sample Questions
Q1) Effective negotiation involves all except which of the following?
A)Deliberate planning
B)Thoughtful preparation
C)Use of a "gut feeling" or intuition
D)Systematic reasoning
Answer: C
Q2) Negotiators who have developed a bargaining style that works only within a narrow subset of the business world will suffer unless they can:
A)act more competitively
B)act more cooperatively
C)take risks
D)broaden their negotiation skills across businesses,industries,and cultures
Answer: D
Q3) Which of the following is a myth that negotiators often hold about negotiation?
A)Whatever is good for one party must be good for the counterparty
B)A good negotiator should always approach a counterparty as if they were of equal status
C)Good negotiators play it safe and do not take risks
D)Good negotiators rely on intuition
Answer: D
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Chapter 2: What to Do Before Negotiation
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28 Verified Questions
28 Flashcards
Source URL: https://quizplus.com/quiz/65047
Sample Questions
Q1) In negotiation,having your first offer immediately accepted by the counterparty is likely to lead to feelings of what might have been different,also known as_________?
A)linkage effects
B)counterfactual thinking
C)hindsight bias
D)gambler's fallacy
Answer: B
Q2) When,you are asked about your desired salary in a job interview,what is the best response to use with the prospective employer?
A)Make an extreme offer and negotiate your way back down to your acceptable BATNA range
B)Give a salary range that would meet your needs in order to seem less fixated on a particular number.
C)Make a take-it-or-leave-it offer
D)Identify a variety of different combinations of highly attractive offer packages and present those packages to the employer
Answer: D
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Chapter 3: Distributive Negotiations
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25 Verified Questions
25 Flashcards
Source URL: https://quizplus.com/quiz/65046
Sample Questions
Q1) What principle is best to keep in mind when making an opening offer in a negotiation?
A)Don't open too high,or you will insult the counterparty
B)Don't open too low,or you will offend the counterparty
C)Offer a numerical range
D)Make several offers that are satisfying to you
Answer: D
Q2) A negative bargaining zone indicates that:
A)parties are worse off by not reaching agreement than by reaching agreement
B)there is no positive overlap between the parties' reservation points
C)parties should keep negotiating to find a positive bargaining zone
D)the counterparty's first offer was not accepted
Answer: B
Q3) Which of the following is a strategically wise method of anchoring?
A)Setting an assertive aspiration point early in the negotiation
B)Immediately rejecting the counterparty's first offer
C)Determining the exact midpoint between the last two offers on the table
D)Refusing to make any concessions
Answer: A
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Page 5
Chapter 4: Win-Win Negotiation
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29 Verified Questions
29 Flashcards
Source URL: https://quizplus.com/quiz/65045
Sample Questions
Q1) When both parties to negotiation have the same interests,but fail to capitalize on compatible interests,this situation is best termed:
A)naive conflict
B)the lose-lose effect
C)premature concessions
D)the propinquity effect
Q2) What are some of the most common errors made by negotiators who are attempting to expand the pie of resources? What are some of the psychological principles underpinning these errors?
Q3) A key benefit of post-settlement settlements in negotiation is that they:
A)increase anchoring aggressiveness
B)are unenforceable
C)allow the parties to establish an interim code of a practice deal before the consensus on a final agreement
D)allow both parties to mutually improve their outcomes
Q4) What strategies should a negotiator keep in mind when presenting multiple offers of equivalent value simultaneously in a negotiation? What advantages are there to using this strategy?
Q5) What benefits can negotiators get from using the strategy of MESO's?
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Chapter 5: Developing a Negotiation Style 1
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24 Verified Questions
24 Flashcards
Source URL: https://quizplus.com/quiz/65044
Sample Questions
Q1) Regarding the interests,rights and power model of disputing,a negotiator who uses a rights-based approach is characterized by:
A)addressing the counterparty's most pressing concerns
B)applying rank and status biases to the negotiation
C)invoking norms and precedents
D)learning about the counterparty's underlying needs
Q2) Assess your own emotional style by completing the questionnaire in Exhibit 5-9.What are the advantages and disadvantages of each emotional style?
Q3) What are some of the main differences between cooperatively-motivated groups of negotiators and individualistically-motivated negotiators?
Q4) In what situations are the use of rights and power-based negotiation tactics justified?
Q5) Assess your own motivational orientation by completing the questions in Exhibit 5-3.Given that a key to self-insight is recognizing the external factors that shape your motivational orientation (following Richard Shell's list),what tools do you need to help you become more effective at pie-slicing and pie expansion?
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Chapter 6: Establishing Trust and Building a Relationship
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28 Verified Questions
28 Flashcards
Source URL: https://quizplus.com/quiz/65043
Sample Questions
Q1) The resources that people exchange in a relationship vary in its terms of ______,or how much utility we derive from who is providing the resource,and _____,or the resource's tangibility.
A)identity ; scarcity
B)particularism ; concreteness
C)social status ; reciprocity
D)fairness ; similarity
Q2) Negotiators often make dispositional,as opposed to situational,attributions for the questionable behavior of the other party which can threaten trust.Which of the following can be characterized as a dispositional attribution for a negotiator's late arrival to a meeting?
A)Traffic jam
B)Lost keys
C)Tired due to late night
D)Arrogance
Q3) Generate some examples of embedded relationships (personal or historical).What are some of the pitfalls associated with these relationships?
Q4) What are some of the psychological strategies for building trust in a relationship?
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Chapter 7: Power,persuasion,and Ethics
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32 Verified Questions
32 Flashcards
Source URL: https://quizplus.com/quiz/65042
Sample Questions
Q1) With regard to lying about one's BATNA in negotiation,which of the following is advisable?
A)Lying about one's BATNA is only advisable if the negotiator is prepared to have the other party walk away from the table
B)Lying about one's BATNA is sometimes permissible,but lying about one's reservation price is never permissible
C)Lies about BATNA's are not permissible,but lying about the other party's BATNA is strategically advisable
D)Lies about BATNA's are equivalent to lying about material facts,and therefore,the lying party is at legal risk
Q2) Why is it important to be wary of our ethical behavior during a negotiation?
A)People fail to consider other people' interests and welfare
B)Given the opportunity,people will choose profit over ethics
C)Negotiators tend to enjoy lying
D)People's may believe they are behaving ethically,but their self-serving tendencies interfere with good decision-making
Q3) Describe the four vantage points of power.
Q4) In what ways does power affect a person's social awareness?
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Page 9
Chapter 8: Creativity and Problem Solving in Negotiations
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30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/65041
Sample Questions
Q1) Negotiators who ascribe to the ________ believe it is important to build rapport to nurture a long-term relationship and in many cases,to make sacrifices for the purpose of creating long-term goodwill.
A)problem solving model
B)cost-benefit analysis model
C)game playing model
D)partnership model
Q2) Of the different techniques that can remedy threats to problem solving and enhance creativity in negotiation,what is the most effective means of improving a negotiator's ability to reach win-win agreements?
A)Threats of disciplinary actions unless improvements in negotiated outcomes are seen
B)Overconfidence
C)Hindsight
D)Training programs
Q3) What are some of the techniques for enhancing creative negotiation agreements?
Q4) What is a mental model of negotiation?
Q5) What are some of the fundamental concerns related to the anchoring and adjustment process in negotiation?
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Chapter 9: Multiple Parties, coalitions, and Teams
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27 Verified Questions
27 Flashcards
Source URL: https://quizplus.com/quiz/65040
Sample Questions
Q1) Regarding trust and temptation in coalitions,what is meant by the term,coalitional integrity?
A)Group members shouldn't form coalitions too early in the negotiation process,before they can find out which group members behave without integrity
B)Coalition members should always be truthful with one another regarding their individual opinions
C)When a new coalit ion structure forms that offers greater gain to members,coalition me mbers often stay with their current coalition
D)Agreements made amongst coalition members are full of integrity
Q2) Negotiations often involve several parties.The people who do the actual negotiation are known as the primary table.The secondary table in negotiation refers to the: A)counterparty's bargaining team
B)parties' hidden interests and unexpected coalitions
C)constituents who have authority over the agreement but may not be physically present
D)biases that affect the primary table
Q3) What are some strategies for maximizing coalitional effectiveness?
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Chapter 10: Cross-Cultural Negotiation
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27 Verified Questions
27 Flashcards
Source URL: https://quizplus.com/quiz/65039
Sample Questions
Q1) What are some examples of acceptable versus taboo trade-offs in negotiation? How does the taboo trade-off principle operate within systems of sacred and secular values?
Q2) How do differences between direct and indirect communication cultures affect how negotiators share information?
Q3) When football fans watch a game,they believe the other side commits more infractions on the field than does their own team.This favoritism can best be termed:
A)the affiliation bias
B)ethnocentrism
C)marginalization
D)fundamental attribution error
Q4) When a group member contributes less effort and works less hard when working in a group as compared to working alone,this is known as:
A)social striving
B)affiliation bias
C)marginalization
D)social loafing
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Chapter 11: Social Dilemmas
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28 Verified Questions
28 Flashcards
Source URL: https://quizplus.com/quiz/65038
Sample Questions
Q1) How does the principle of dominance detection operate in a prisoner's dilemma? Why do multiple trials of the prisoner's dilemma make it possible to avoid the outcome produced by mutual defection?
Q2) Donating to National Public Radio,paying taxes,voting,and joining a union are all examples of:
A)government control
B)resource conservation dilemmas
C)the norm of commitment
D)public goods dilemmas
Q3) In cooperative or ________ negotiations,people seek to reach mutual agreement via binding contracts; in contrast,many negotiations are conducted by actions and pledges in the absence of a binding contract; these types of negotiations are known as _____ negotiations.
A)tacit ; explicit
B)transactional ; transitional
C)explicit ; tacit
D)transitional ; transactional
Q4) In a dictator game,what motivates a proposer to offer a non-zero allocation to the recipient?
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Chapter 12: Negotiating Via Information Technology
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29 Verified Questions
29 Flashcards
Source URL: https://quizplus.com/quiz/65037
Sample Questions
Q1) In terms of information technology and social interaction,the "weak get strong" effect refers to the fact that:
A)people who might not have much influence or status in a face-to-face setting have more status in an electronic forum
B)people who make an extreme first offer hardly ever receive that offer and must back down four times as often
C)making a strong initial offer,regardless of one's actual BATNA,is more strategic than making a moderate first offer
D)people behave in a more aggressive fashion when interacting via information technology
Q2) Enhanced e-negotiations are those in which negotiators attempt to personalize or enrich the interaction.All of the following are true with regard to enhancing e-negotiations,except:
A)a brief,personal disclosure over e-mail increases the likelihood of an impasse
B)a brief,personal disclosure over e-mail reduces the likelihood of impasse
C)a brief telephone call prior to e-negotiation improves joint outcomes
D)a brief telephone call prior to e-negotiation increases trust
Q3) What are some strategies for enhancing technology-mediated negotiations?
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