Samenvatting strategic management of organizations (colleges + literatuur)
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Strategic management
Institution
Strategic Management
Chapter 1: The nature of strategic management
1.1 Describe the strategic management process
1.) The focus of strategic management is on: the integration of all the functional areas of
the business to achieve organizational success.
2.) A strategic plan is primarily designed to: gain and sustain...
samenvatting strategic management of organizations colleges literatuur
chapter 1 the nature of strategic management 11 describe the strategic management process 1 the focus of strategic manage
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SAMENVATTING STRATEGIC MANAGEMENTR OF ORGANIZATION
Chapter 1: The nature of strategic management
1.1 Describe the strategic management process
1.) The focus of strategic management is on: the integration of all the functional areas of
the business to achieve organizational success.
2.) A strategic plan is primarily designed to: gain and sustain competitive advantage.
3.) The purpose of strategic management is: to exploit and create future opportunities.
4.) Which of the following best defines strategic management? The art and science of
formulating, implementing, and evaluating cross-functional decisions to achieve the
organization's objectives.
5.) A company's game plan is its: strategic plan.
6.) The strategic management course at many colleges and universities: is the capstone
course in business administration.
1.2 Discuss the 3 stages of strategy formulation, implementation, and evaluation
activities
1.) The strategic management process begins with: strategy formulation.
2.) In which stage of the strategic management process is an organization likely to
develop a mission statement? Strategy formulation
3.) Which of the following is considered in the strategy-implementation stage? Creating
an effective organizational structure
4.) What is the final stage in strategic management? Strategy evaluation
5.) Which stage of the strategic-management process is referred to as the action stage?
Strategy implementation
6.) Which of the following is performed in the strategy-formulation stage of the strategic-
management process? Developing a vision and a mission
1.3 Explain the need for integrating analysis and intuition in strategic
management
1.) In which situation is intuition most likely to be useful for making strategic decisions?
When there is little precedent
2.) Integrating and analyzing knowledge of the business to formulate effective strategies
is the essence of: intuition.
3.) In environments of great uncertainty, strategic decision making may be greatly
enhanced with: intuition.
,4.) Alfred Sloan described Will Durant of GM as an individual who devised brilliant
strategies based on: intuition.
5.) Which of the following best defines the most effective basis for strategic decision
making in firms? Integrating intuition and analysis
6.) Those organizations that ask "Should we reshape our business?" understand the
importance of: adapting to change.
1.4 Define and give examples of key terms in strategic management
1.) Apple’s financially lean position with regard to manufacturing facilities provides the
firm with a competitive advantage over Sony with a significant investment in
manufacturing facilities.
2.) The changing demographics of an organization's target market are an example of:
opportunities and threats.
3.) When one company processes a resource that its rivals want, the first firm has
gained: a competitive advantage.
4.) Jay Conger pointed out that all strategists have to be: chief learning officers.
5.) A vision statement answers which of the following questions? What does our
organization want to become?
6.) Specific results that a firm seeks to achieve in pursuing its basic mission are referred
to as: long-term objectives.
1.5 Illustrate the comprehensive strategic-management model
1.) In developing a strategic plan, which is an important first question to pose? Where
are we now?
2.) That the strategic-management process is dynamic requires that the activities be
performed: continually.
3.) The strategic-management process is: continuous.
4.) What is considered the most important activity of the strategic-management
process? Feedback loop
5.) Which firm is more likely to be more formal in strategic planning? A technology firm
6.) What is the starting point for strategic management? Identifying the existing mission
and vision
1.6 Describe the benefits in engaging in strategic management
1.) Which of the following is not a financial benefit for organizations that use strategic
management? Improved understanding of competitors' strengths
,2.) The ability to prevent problems is often improved with strategic management as a
result of improved: interaction among managers at all levels and across functions.
3.) Which of the following is not considered a benefit in strategic management? Allowing
more reaction in shaping the organization's future
4.) A key to gaining commitment for the implementation of strategic initiatives is:
participation of all employees in the formulation stage.
5.) Which of the following is considered a nonfinancial benefit of strategic management?
Improved awareness of external threats
6.) Which of the following is not cited by Greenley as a nonfinancial benefit of using
strategic management? Increased discipline
1.7 Explain why some firms do not use strategic planning
1.) Some firms view planning as a waste of time because: no product or service is
produced.
2.) Which of the following is a reason some firms do not engage in strategic planning?
There is no formal training in strategic management.
1.8 Describe the pitfalls in doing strategic management
1.) Which of the following should a firm consider when engaging in strategic planning?
Involving all managers in the process
2.) Which of the following is a pitfall to avoid in strategic planning? Becoming so focused
on current problems that planning is forgotten
3.) When engaging in strategic planning, which of the following pitfalls did the text
suggest a firm should avoid? Failing to communicate the plan to employees
4.) During strategic planning, it is recommended that the planning be delegated to: all
managers.
5.) Strategic planning is often incorrectly viewed as: unnecessary.
6.) When strategic planning is too formal: flexibility is stifled.
1.9 Discuss the connection between business and military strategy
1.) Where did the history of strategic planning start? The military
2.) Business strategy is based on the assumption of competition. What is the
assumption of military strategy? Conflict
3.) Business strategy has its roots in: military strategy.
, 4.) Both business and military organizations use their own strengths: to exploit
competitors' weaknesses.
5.) Both Alexander the Great and football coach Bear Bryant demonstrated: an excellent
strategic plan to succeed.
6.) The classic book that has guided the military, businesses, and athletic teams to
formulate strategy leading to success is: Sun Tzu's The Art of War
Chapter 2: The business vision and mission
2.1 Describe the nature and role vision statements in strategic management
1.) The vision statement answers which of the following questions? What do we want to
become?
2.) Which of the following should be established first? Vision statement
3.) The question of what the organization wants to become is addressed in the: vision
statement.
4.) What elements should be mentioned in the vision and mission statements to
effectively motivate a workforce? Profit and vision
5.) Which of the following is true of vision statements? They need to be written from a
customer perspective.
6.) A vision statement written from a customer perspective: provides solutions to
customers' needs.
2.2 Describe the nature and role of mission statement is strategic management
1.) A mission statement is also referred to as all of the following except: vision
statement.
2.) What does Peter Drucker suggest is the first responsibility of strategists?. Answering
the question "What is our business?"
3.) According to Drucker, asking "What is our mission?" is synonymous with asking:
What is our business?
4.) Which of the following is true of vision and mission statements? They should be
treated as living documents.
5.) The foundation for priorities, strategies, plans, and work assignments is: the mission
statement.
6.) Strategists who rush quickly to implement strategies: might overlook the
development of a vision and mission statement.
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