TEST BANK FOR STRATEGIC MANAGEMENT, TEXT AND CASES 10TH EDITION BY DESS, MCNAMARA, EISNER WITH COMPLETE SOLUTION | GRADE A+.TEST BANK FOR STRATEGIC MANAGEMENT, TEXT AND CASES 10TH EDITION BY DESS, MCNAMARA, EISNER WITH COMPLETE SOLUTION | GRADE A+.TEST BANK FOR STRATEGIC MANAGEMENT, TEXT AND CASE...
[TEST BANK] STRATEGIC MANAGEMENT,
TEXT AND CASES 10TH
EDITION BY DESS, MCNAMARA, EISNER
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Strategic Management: Text and Cases, 10e (Dess)
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Chapter 1 Strategic Management: Creating Competitive Advantages
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1) Lands' End's failure under the leadership of Ms. Frederica Marchionni was said to be a
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directresult of the quality of her leadership. According to the text, this would be an example of
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the "romantic" perspective of leadership.
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Answer: TRUE u i
Explanation: In the romantic view of leadership, the implicit assumption is that the leader is
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thekey force in determining an organization's success or lack thereof. Under Ms. Marchionni's
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leadership, the company reported a 19.5-million-dollar loss for 2016 after having reported a
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73.8-million-dollar profit for the previous year under its previous CEO.
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Difficulty: 2 Medium ui ui
Topic: Strategy and the Strategic Management Process
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Learning Objective: 01-01 The definition of strategic management and its four key
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attributes.Bloom's: Understand
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AACSB: Analytical Thinkingui ui
Accessibility: Keyboard
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Navigation
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2) Strategic management consists of the analyses, decisions, and actions an
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organizationundertakes in order to create and sustain competitive advantages.
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Answer: TRUE u i
Explanation: According to the textbook, this is the definition of strategic
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management.Difficulty: 1 Easy
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Topic: Strategy and the Strategic Management Process
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Learning Objective: 01-01 The definition of strategic management and its four key
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attributes.Bloom's: Remember
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AACSB: Knowledge Application
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Accessibility: Keyboard
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Navigation
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3) Management innovations such as total quality, just-in-time, benchmarking, business process
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reengineering, and outsourcing are important but not enough for building sustainable
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competitiveadvantage.
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Answer: TRUE u i
Explanation: Sustainable competitive advantage cannot be achieved through operational
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effectiveness alone. Popular management innovations of the last two decades like total quality,
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just-in-time, benchmarking, business process reengineering, and outsourcing are concerned
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withoperational effectiveness.
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Difficulty: 2 Medium ui ui
Topic: Strategy and the Strategic Management Process
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Learning Objective: 01-01 The definition of strategic management and its four key
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attributes.Bloom's: Understand
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AACSB: Analytical Thinkingui ui
Accessibility: Keyboard
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Navigation
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4) Trade-off decisions between effectiveness and efficiency are important in the practice of
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strategic management. ui
Answer: TRUE u i
Explanation: The fourth attribute of strategic management is that it involves the recognition
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oftrade-offs between effectiveness and efficiency. Some authors have referred to this as the
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difference between doing the right thing (effectiveness) and doing things right (efficiency).
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Difficulty: 2 Medium ui ui
Topic: Strategy and the Strategic Management Process
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Learning Objective: 01-01 The definition of strategic management and its four key
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attributes.Bloom's: Understand
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AACSB: Analytical Thinking ui ui
Accessibility: Keyboard
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Navigation
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5) According to Henry Mintzberg, a management scholar, most firms do not realize their
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originalintended strategy.
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Answer: TRUE u i
Explanation: Henry Mintzberg states that the intended strategy rarely survives in its original
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Topic: Strategy and the Strategic Management Process
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Learning Objective: 01-02 The strategic management process and its three interrelated
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andprincipal activities.
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Bloom's: Understand u i
AACSB: Knowledge Application ui ui
Accessibility: Keyboard
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Navigation
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7) Strategy analysis is the study of only the big picture external environments of the firm.
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Answer: FALSE u i
Explanation: Strategy analysis is the study of the external and internal environments of a
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firm,and their fit with organizational vision and goals.
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Difficulty: 2 Medium ui ui
Topic: Strategy and the Strategic Management Process
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Learning Objective: 01-02 The strategic management process and its three interrelated
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andprincipal activities.
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Bloom's: Understand u i
AACSB: Knowledge Application ui ui
Accessibility: Keyboard
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Navigation
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8) All successful firms compete and outperform their rivals by developing bases for
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competitiveadvantage, which can be achieved only through cost leadership.
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Answer: FALSE u i
Explanation: Successful firms strive to develop bases for competitive advantage, which can
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beachieved through cost leadership and/or differentiation as well as by focusing on a narrow or
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industrywide market segment.
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Difficulty: 2 Medium ui ui
Topic: Strategy and the Strategic Management Process
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Learning Objective: 01-02 The strategic management process and its three interrelated
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andprincipal activities.
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Bloom's: Understand u i
AACSB: Analytical
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Thinking
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9) The three primary participants in corporate governance are: (1) the shareholders, (2)
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themanagement (led by the chief executive officer), and (3) the employees.
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Answer: FALSE u i
Explanation: The primary participants are: (1) the shareholders, (2) the management (led by
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thechief executive officer), and (3) the board of directors.
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Difficulty: 2 Medium ui ui
Topic: Corporate Governance u i ui
Learning Objective: 01-03 The strategic role of corporate governance and stakeholder
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management, as well as how "symbiosis" can be achieved among an organization's
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stakeholders.Bloom's: Understand
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AACSB: Knowledge Application ui ui
Accessibility: Keyboard
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Navigation
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