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BPL 5100 Exam Questions and Answers
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BPL 5100 Exam Questions and Answers
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BPL 5100 Exam Questions and AnswersRomantic View of Leadership - Answer -situations in which the leader is the key force
determining the organization's success - or lack thereof
External control perspective - Answer -External forces determine the organization's
success, the leader has limited influence
Strategic management - Answer -consists of the analyses, decisions, and actions an
organization undertakes in order to create and sustain competitive advantages
Analysis - Answer -Strategic goals
Internal and external environment
Decisions - Answer -What industries should we compete in?
How should we compete in those industries?
Actions - Answer -Implementations of strategy
allocate necessary resources
design the organization to bring intended strategies to reality
Competitive advantage - Answer -can be defined as a firm's resources and capabilities
that enable it to overcome the competitive forces in its industry.
Operational effectiveness - Answer -performing the same tasks better than rivals
perform them is NOT enough to sustain a competitive advantage.
Stakeholders - Answer -Investors, employees, customers, community, government -
anyone who has a stake in the company
Four key attributes of strategic management - Answer -1. directed toward overall
organizational goals & objectives
2. includes multiple stakeholders in decision making
3. requires incorporating both short-term & long-term perspectives
4. involves the recognition of trade-offs between effectiveness and efficiency
Effectiveness vs Efficiency - Answer -Effectiveness refers to the entire cycle of obtaining
inputs, transforming them into useful products, selling them, and obtaining more inputs.
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