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Strategic Management: Strategic Managment
Gregory G. Dess, University of Texas at Dallas
G.T. Lumpkin, University of Illinois--Chicago

Strategic Management: Creating Competitive Advantages

Multiple Choice Quiz


The CEO of Lucent Technologies made a lot of mistakes, such as committing errors in assessing the market and competitive conditions, as well as improperly redesigning the organization into 11 business units. Such errors led to performance declines. According to the text, this example illustrates the _________________ perspective of leadership.
B)internal mechanism
D)external control

The "advance work" in the strategic management process is comprised of
A)strategy formulation.
B)strategy implementation.
C)strategic posturing.
D)strategy analysis.

Strategy implementation and formulation is a challenging, on-going process. To be effective, it should involve
A)the board of directors, CEO, and CFO.
B)line and staff managers.
C)the CEO and the board of directors.
D)all of the above.

Members of an organization's board of directors should, while working to prioritize and fulfill their responsibilities,
A)direct all actions of the CEO.
B)emphasize the importance of short-term goals.
C)represent their own interests.
D)represent the interests of the shareholders.

The "triple bottom line" approach to corporate accounting, according to the text, includes which three components
A)financial, organizational, and psychological.
B)financial, environmental, and customer.
C)financial, organizational, and customer.
D)financial, environmental, and social.

As our world increases in complexity, the global environment is increasingly challenging and competitive. The key to effective globalization is
A)more people speaking more languages.
B)the flow of capital, people, and information.
C)governmental regulations.
D)the flow of goods.

Which of the following lists is the hierarchy of organizational goals in order from least specific to most specific?
A)mission statements, strategic objectives, vision statements.
B)mission statements, vision statements, strategic objectives.
C)vision statements, strategic objectives, mission statements.
D)vision statements, mission statements, strategic objectives.

An organization's mission, in contrast to it's vision, should
A)be less detailed.
B)encompass all the major rules and regulations of the corporate work force.
C)encompass both the purpose of the company as well as the basis of competition.
D)be shorter in length.

Vision statements are used to create a higher understanding of the organization's overall direction and purpose. Vision statements
A)provide specific objectives.
B)are very specific.
C)evoke powerful and compelling mental images.
D)set organizational structure.