Sh3rrymagdah

Vision correct answers what an organization wants to achieve ultimately (aspiration) Strategy is... correct answers Strategy is about performance. Strategy is not tactics. Strategy is the intended plan for the organization Strategy involves leadership. Values correct answers A statement of key values that an organization is committed to Major Goals correct answers The measurable desired future state that an organization attempts to realize Change is the...? correct answers Only co...

Strategic Leadership correct answers creating competitive advantage through effective management of the strategy-making process Determinants of Shareholder Value correct answers Effectiveness of strategies, leads to profitability (ROIC) and Profit growth Why max-ing shareholder value is ultimate goal? (2 reasons) correct answers 1) They provide risk capital that allows the purchase of resources to produce/sell goods 2) Are legal owners and their shares represent a claim in company, this m...

1. A CEO made a lot of mistakes in assessing the market and the competitive conditions and improperly redesigning the organization into numerous business units. Such errors led to significant performance declines. According to the text, this example illustrates the __________ perspective of leadership. A. external control B. internal mechanism C. operational D. romantic correct answers D 2. The four key attributes of strategic management include all of the following EXCEPT: A. emphasis...

P in PESTEL correct answers Political E in PESTEL correct answers Economic S in PESTEL correct answers Social Trends (demographics and current trends) Ex: Companies providing "green" products. T in PESTEL correct answers Technological (upcoming electronic items) Basic questions of strategy: correct answers Where are we now? Who are we? Where do we want to go? How are we going to get there? How are we doing? Mission correct answers The reasons for an organization's exi...

What is the reason for the price increase of glasses in the last decade? correct answers There is 1 company, Luxottica. Firms that adopt design thinking for a new product adopt a product-oriented vision statement. T or F? correct answers F, correct answer: customer-oriented vision statement Firms are likely to rely on top-down management during high uncertainty. T or F? correct answers F, correct answer: scenario planning Stakeholders impact analysis is a decision tool designed to he...

Define causality correct answers the relationship between cause and effect, X causes Y if three conditions are met "Mill's Law" Three criteria for defining causality correct answers 1. x and y correlate 2. x precedes y 3. change in x correlates with change in y Why may correlation not be causality correct answers 1. reverse causality 2. omitted common third variable 3. pure random covariance reverse causality correct answers X correlates with Y, but it may be the case t...

Strategic Management correct answers the analyses, decisions, and actions an organization undertakes in order to create and sustain competitive advantages Key Strategic Management Attributes correct answers 1. Focus is on overall organizational goals and objectives (big picture) 2. Includes multiple stakeholders in decision making (any group or individual who can affect or is affected by the achievement of the org's objectives) 3. Incorporates short and long term perspectives 4. Recogni...

external environment correct answers general environment → industry environment → strategic groups → the firm external influences correct answers - external environment - stakeholders strategic groups correct answers cluster of firms that share similar strategies EX. Ferrari, Lamborghini, Porsche EX. Gucci, Chanel, Fendi EX. Burger King, Wendy's, McDonald's strategic groups as an analytical tool correct answers - Identify barriers to mobility that protect a group from ...

Opportunities correct answers Elements and conditions in a company's environment that allow it to formulate and implement strategies that enable it to become more profitable Threats correct answers elements in the external environment that could endanger the integrity and profitability of the company's business Industry correct answers A group of companies offering products or services that are close to substitutes for each other Competitors correct answers Those who serve the sam...

What is business-level strategy? correct answers To achieve competitive advantage in a single product market "How will we compete to gain & sustain competitive advantage?" correct answers 1. Who: which customer segments will we serve? 2. What: Customer needs, wishes, and desires will we satisfy? 3. Why: do we want to satisfy them? 4. How: will we satisfy our consumers needs? strategic trade-offs correct answers Choices between a cost or value position. Tension betwee...