Strategic Management
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Course Introduction
Strategic Management explores the formulation, implementation, and evaluation of cross-functional decisions that enable organizations to achieve their long-term objectives. The course covers tools and frameworks for analyzing a companys internal resources and external environment, competitive positioning, and the dynamics of industry evolution. Students will learn how to assess strategic alternatives, make informed choices, and manage the processes needed to guide organizations toward sustained competitive advantage, all while considering the broader economic, ethical, and global contexts in which modern enterprises operate.
Recommended Textbook
Strategic Corporate Social Responsibility Sustainable Value Creation 4th Edition by David Chandler
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Chapter 1: What Is CSR?
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Q1) The moral argument for corporate social responsibility focuses on adopting the path of least resistance with regard to issues of concern that make common and business sense.
A)True
B)False
Answer: False
Q2) Financial scandals around the turn of this century at Enron,WorldCom,Adelphia,HealthSouth,and others led to which of the following?
A)Greater reliance on nonstandard accounting practices
B)Less reliance on nonstandard accounting practices
C)New laws and governmental rulings that limit business's discretionary actions
D)Revocation of laws and rulings that limit business's discretionary actions
Answer: C
Q3) There is widespread agreement among corporate executives about the necessity of corporate social responsibility.
A)True
B)False
Answer: False
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Chapter 2: The Driving Forces of CSR
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Q1) Sustainablity efforts of a firm deal with ________.
A)labor issues
B)environmental issues
C)long-term profitablity
D)legal compliance
Answer: B
Q2) If a company has its headquarters in the United States but has offices in other countries,it only needs to follow US law.
A)True
B)False
Answer: False
Q3) What are the three phases of stakeholder access to information?
A)Industrialization,international trade,globalization
B)Industrialization,domestic production,international trade
C)International trade,use of internet technology,globalization
D)Growth,globalization,job creation
Answer: A
Q4) Why are brands more important today than they were in the past?
Answer: Answers will vary but should highlight issues of globalization and communication technologies.
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Chapter 3: Corporate Rights and Responsibilities
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Q1) The US Supreme Court has made several landmark rulings on "corporate personhood." Some argue that the Court's decisions have used inconsistent logic.Describe why the Court's logic has or has not been inconsistent.
Answer: Answers will vary but should touch on each of the major decisions in this area,including Citizens United.
Q2) A ________ approach to corporate social responsibility starts with a predetermined outcome and then works out how to achieve it.
A)normative
B)descriptive
C)conservative
D)critical
Answer: A
Q3) Limited liability means that no one can sue a corporation.
A)True
B)False
Answer: False
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Chapter 4: Stakeholder Theory
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Q1) At the United Nations COP21 meeting that took place in Paris in 2015,companies such as Alcoa,Apple,Bank of America,Cargill,Coca-Cola,General Motors,Google,Microsoft,and Walmart committed significant resources to cutting carbon emissions.Such recognition of the reality of climate change indicates that this issue is in the ________ stage.
A)latent
B)manifest
C)emerging
D)institutionalized
Q2) Who is usually credited with contemporary stakeholder theory?
A)Frank Pierce
B)Eric Rehnman
C)Ed Freeman
D)Frank Abrams
Q3) When prioritizing stakeholders,firms may consider which of the following factors?
A)Employee happiness
B)Community desires
C)Supplier demands
D)All of the above
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Chapter 5: Corporate Stakeholder Responsibility
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Q1) The textbook argues that the CSR cause would be advanced considerably if stakeholders are caring,informed,transparent,and educated.Describe what that statement means,citing examples to support your response.
Q2) Arguments can be made that firms are primariliy responsible for CSR practices,and other arguments can be made that stakeholders are primarily responsible for CSR.Describe the two sides to this debate and analyze which argument you support more.
Q3) The CSR debate is often characterized as a battle between supporters of Milton Friedman on one side and the supporters of Charles Handy on the other.Describe this "battle" and analyze the adequacy of this metaphor as a characterization of current CSR debates.
Q4) Corporate social responsibility can be defined as the responsibility of firms to act in accordance with stakeholder needs.
A)True
B)False
Q5) All stakeholders have an obligation to help design the society in which they want to live and work.
A)True
B)False
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Chapter 6: Who Owns the Corporation?
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Q1) Analyze the following statement: "Shareholder ownership of firms is a social construction." What does this statement mean,and what are the implications for CSR?
Q2) The combination of high-frequency trading and massive investment funds holding large,but passive,positions is redefining what it means to be a ________.
A)stockbroker
B)manager
C)director
D)shareholder
Q3) Which of the following is an example of a program that would be a good fit for social impact bonds (SIBs)?
A)Promoting high school graduation
B)Supporting healthful lifestyle choices
C)Reducing prisoner recidivism
D)All of the above are examples.
Q4) A share is a legal contract between the investor and the firm.
A)True
B)False
Q5) Would you invest in social impact bonds (SIBs)? Why or why not?
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Chapter 7: The Pursuit of Profit
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Q1) According to the textbook,economic value and social value are
A)completely separate constructs.
B)not completely separate constructs.
C)best understood as shareholder values.
D)changing most dramatically in bottom-of-the-pyramid (BOP)countries.
Q2) Which of the following is not a component of Unilever's Sustainable Living Plan?
A)Halve the environmental impact of its products.
B)Source 100% of agricultural raw materials sustainably.
C)Hire women in 50% of executive positions within the company.
D)Help more than 1 billion people improve their health and well-being.
Q3) ________,rather than ________,offers the best means for rapid social progress in the developing world.
A)International aid; educational opportunity
B)Economic development; international aid
C)Healthcare; educational opportunity
D)Educational opportunity; technological infrastructure
Q4) Why is profit optimization a more useful focus for firms than profit maximization?
Q5) Is it OK for a for-profit company to profit from poverty? Why or why not?
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Chapter 8: Incentives and Compliance
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Q1) The policies related to the use of plastic bags at IKEA and in Ireland demonstrate that
A)consumer practices are very difficult to change.
B)well-designed policies can incentivize humans to change their behavior radically and quickly.
C)consumers generally prefer plastic bags over paper bags.
D)the use of plastic bags is a relatively insignificant issue in the most of the world.
Q2) Walmart's shift in policy toward sustainability is remarkable. A)True
B)False
Q3) After the Irish government passed a 33-cent tax on every plastic bag used,
A)consumers protested to such a degree that the law was reversed.
B)firms that produce plastic bags attempted to have the law repealed.
C)carrying plastic bags became socially unacceptable.
D)the use of plastic bags decreased by only a small percent.
Q4) Which argument do you favor-persuading a company to incorporate a CSR perspective voluntarily or using legislation to force it to change? Why? Which of these two compliance approaches is ideal? Which is more realistic?
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Chapter 9: Accountability
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Q1) Is a tobacco firm that employs tens of thousands of people and pays significant taxes a better or worse firm (in terms of corporate social responsibliity performance)than a supermarket that sells food but pays its employees low wages?
Q2) Which of the following is NOT a condition for a truly free market?
A)Multiple actors on both the demand and supply sides of the market
B)The absence of externalities
C)Perfect information held by all parties
D)Increased government intervention
Q3) The concept of ________ is defined by instituting a system of incentives in which rewards are privatized and risks are socialized.
A)financial privatization
B)moral hazard
C)invisible hand
D)global capitalism
Q4) Corporate social responsibliity reporting suffers from the potential for greenwash.
A)True
B)False
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Chapter 10: Strategy + CSR
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Q1) In Jay Barney's model,VRIO stands for which four concepts?
A)Variability,Returns,Industry,Operations
B)Valuable,Rare,Imitate,Organized
C)Valuable,Returns,Industry,Organized
D)Variability,Rare,Imitate,Operations
Q2) The ________ perspective assumes a zero-sum game and a confrontational view.
A)focused
B)industry
C)resources
D)strategic CSR
Q3) A central feature of Prahalad and Hamel's model of business strategy is its focus on
A)functional business units within a firm.
B)core competencies within a firm.
C)core competencies of competing firms.
D)firm comparisons across industries.
Q4) Why do some firms,industries,and cultures have different CSR thresholds than others? Illustrate your answer with examples for all three categories.
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Chapter 11: CSR as a Strategic Filter
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Q1) A ________ is applied when a firm decides the competitive environment demands a change in strategy and management must evaluate internal and external resources.
A)strategic intent
B)virtuous cycle
C)core competency
D)make-or-buy decision
Q2) The textbook argues that there are three types of organizations.Which of the following is NOT one of these types?
A)Family based
B)For-profit
C)Governmental
D)Nonprofit
Q3) Which of the following are actions a firm can do very well?
A)Capabilities
B)Competencies
C)Core competencies
D)Core resources
Q4) Why are large,multinational firms more likely to be concerned about corporate social responsibility?
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Chapter 12: Strategic CSR
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Q1) According to the textbook,strategic CSR is not about ________ but instead is about
A)philanthropy; day-to-day operations
B)day-to-day operations; profit optimization
C)profit optimization; day-to-day operations
D)day-to-day operations; strategic corporate philanthropy
Q2) Which of the following is NOT one of the components of the working definition of strategic CSR?
A)Understanding and responding to needs of stakeholders
B)Responsibly addressing environmental sustainability
C)Incorporating a CSR perspective within the firm's culture and strategic planning processes
D)Any actions taken are directly related to core operations.
Q3) Should Starbucks form partnerships with farmers in Guatemala? Why or why not?
Q4) High-frequency traders
A)base decisions on a company's long-term future prospects.
B)base decisions on a company's diverse set of stakeholders.
C)do not base decisions on a company's primary stakeholders.
D)do not base decisions on a company's long-term future prospects.
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Chapter 13: Sustainability
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Q1) ________ represents the recognition that a changing climate will affect business operations and that managing risk and adapting to the new environment will increasingly be important to business success.
A)Natural capital
B)COP21
C)Global sustainability
D)Resilience
Q2) According to the textbook,the success of COP21 relies on which of the following?
A)Countries continually assessing their progress toward reducing carbon emissions and adjusting their targets accordingly
B)A worldwide conversion to a combination of nuclear,solar,and wind power by 2050.
C)The United States taking the lead in the reduction of carbon emissions.
D)COP21 has no chance of success.
Q3) The science on climate change is not disputed.What is disputed is/are
A)who or what is responsible for climate change.
B)the consequences of climate change.
C)the impact of oil-based fuel technologies.
D)the relative impact of developed countries on climate change.
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Chapter 14: Implementing CSR
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Q1) According to the textbook,________ and ________ have become the watchwords of good corporate governance.
A)sustainability; stakeholder value
B)accountability; sustainability
C)sustainability; transparency
D)transparency; accountability
Q2) ________ can clarify for all parties,internal and external,the standards that govern a firm's conduct and can thereby convey its commitment to responsible practice wherever it operates.
A)A CSR policy manual
B)An ethics code
C)A mission statement
D)A vision statement
Q3) Amazon announced that it would hire a director of social responsibility after A)a series of workplace accidents.
B)an accounting scandal in which profits were exaggerated.
C)a detailed report identified high levels of bullying and stress among its employees.
D)the CEO became dedicated to corporate social responsibility.
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Chapter 15: Sustainable Value Creation
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Q1) Enron is an example of a firm that
A)had a strong corporate social responsibility position that translated into ethical practices.
B)had a weak set of formal ethical positions but was an ethical firm nevertheless.
C)a strong set of corporate social responsibility positions that were just greenwash.
D)was the first firm to have a chief CSR officer.
Q2) It is estimated that ________ of today's jobs could be automated in the next two decades.
A)27%
B)37%
C)47%
D)57%
Q3) A strategic CSR perspective argues that employees shoud be treated as ________ rather than as ________.
A)family members; work acquaintances
B)costs; assets
C)assets; costs
D)partners; coworkers
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