A strategy can be defined as a set of related actions that managers take to increase their company's performance. correct answers True
Strategic leadership is concerned with how to most effectively manage a company's strategy-making process to create competitive advantage. correct answers True
...
a strategy can be defined as a set of related acti
Written for
MGT 499
MGT 499
Seller
Follow
sh3rrymagdah
Content preview
MGT 499 Exam 1 - Chapter 1(A+ Guaranteed Answers)
A strategy can be defined as a set of related actions that managers take to increase their company's
performance. correct answers True
Strategic leadership is concerned with how to most effectively manage a company's strategy-making
process to create competitive advantage. correct answers True
To increase shareholder value, managers must pursue strategies that increase revenue and market share,
whether the results are profitable or not. correct answers False
A firm obtains competitive advantage when its strategy results in superior performance relative to its
competitors. correct answers True
ROIC is a measure of how efficiently and effectively managers use the capital at their disposal to produce
profitability. correct answers True
The profit growth of a company can be measured by the increase in its stock price over time. correct
answers False
A business model is managers' conception of how the set of strategies their company pursues should mesh
together into a congruent whole, thus enabling the company to gain a competitive advantage and achieve
superior profitability and profit growth. correct answers True
One of the factors that distinguishes organizations in the nonprofit sector from for-profit businesses is the
lack of concern for strategic management. correct answers False
General managers bear responsibility for the overall performance of the company or for one of its major
self-contained subunits or divisions. correct answers True
The CEO is a company's principal general manager. correct answers True
The final component of the strategic management process is crafting the organization's mission statement,
which provides the framework or context within which strategies are formulated. correct answers False
, Fortunately, the concepts vision and mission can be used interchangeably. correct answers False
The mission of a company lays out some desired future state and articulates what the company would like
to achieve. correct answers False
Unfortunately, values are personal and have little to do with organizational culture or competitive
advantage. correct answers False
Well-constructed goals provide a means by which the performance of managers can be evaluated. correct
answers True
SWOT analysis is implemented to fine-tune strategies. correct answers True
The feedback loop in the model of the strategic management process indicates that the process is ongoing;
it never ends. correct answers True
The traditional planning model suggests that a company's strategies are the result of a plan from a highly
structured process orchestrated by top management. correct answers True
Mintzberg's model suggests a company's realized strategy is the product of whatever strategies are
actually put into action⎯intended and emergent. correct answers True
Honda redefined the U.S. motorcycle industry with a brilliantly conceived intented strategy. correct
answers False
In practice, the strategies of most organizations are probably a combination of the intended and emergent
strategies. correct answers True
Emergent strategies arise in a company with careful long-term planning. correct answers False
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller sh3rrymagdah. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £9.36. You're not tied to anything after your purchase.
