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Exam 1: Strategic Management: Creating Competitive Advantages

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Question 51

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There are several perspectives of competition. One perspective is zero-sum thinking. Zero-sum thinking means that

A) all parts of the organization gain at no loss.
B) in order for someone to gain others must experience no gain or benefit.
C) one can only gain at the expense of someone else.
D) everyone in the organization shares gains and losses equally.

E) None of the above
F) A) and D)

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Question 52

Multiple Choice

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Strategy formulation at the business level addresses best how to compete in a given business:

A) to attain competitive advantage
B) to reduce costs
C) to decrease buyer power
D) to thwart entry of new rivals

E) C) and D)
F) B) and D)

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Question 53

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Shell, NEC, and Procter and Gamble have been measuring their performance according to what has been called a triple bottom line. This technique involves an assessment of financial, social, and environmental performance.

According to the text, the strategic management process entails three ongoing processes. They are

An organization is responsible to many different entities. In order to meet the demands of these groups, organizations must participate in stakeholder management. Stakeholder management means that

Partnering with governments, communities, suppliers, customers, and rivals is a way to manage conflicting stakeholder interests.

Corporate-level strategy looks at how to manage the ______ of its businesses to create synergies.

Procter and Gamble developed a laundry detergent compaction technique that appeals to consumers, retailers, shipping and wholesalers, and environmentalists. This is an example of stakeholder symbiosis.

Effective leaders set a direction and develop an organization so that it is committed to excellence and ___________ behavior.

As a stakeholder group, customers are interested in dividends and capital appreciation.

The ROIs on sustainability projects are often very difficult to quantify because the data necessary to calculate ROI accurately are often not available when it comes to sustainability projects.

Firms must exercise either informational control or behavioral control in order to assure proper strategy implementation.

All successful firms compete and outperform their rivals by developing bases for competitive advantage, which can be achieved only through cost leadership.

A mission statement encompasses both the purpose of the organization as well as its basis of competition, and the basis of its competitive advantage.

For many successful firms, environmental values are not central to the company culture and management processes.

Effective vision statements include

The ROI on sustainability efforts can be difficult to quantify because

The text addresses two perspectives of leadership as well as their implications. These two perspectives are

Employee stakeholders are concerned with

Entrepreneurial activity aimed at new value creation is not a major engine for economic growth.