Strategic Management Session 1

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

• romantic and unromantic

• romantic and internal contro

• external control and unromantic

• romantic and external control

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.

• external control

• romantic

• internal mechanism

• operational

According to the text, the strategic management process entails three ongoing processes:

• analyses, actions, and synthesis

• analyses, decisions, and actions

• analyses, evaluation, and critique

• analyses, synthesis, and antithesis

The four key attributes of strategic management include the idea that:

• strategy must be directed toward overall organizational goals and objectives

• strategy must be focused on long-term objectives

• strategy must be focused on one specific area of an organization

• strategy must focus on competitor strengths

The four key attributes of strategic management include all of the following EXCEPT:

• including multiple stakeholder interests in decision making

• incorporating both short-term and long-term perspectives

• recognizing the trade-offs between effectiveness and efficiency

• emphasis on the attainment of short-term objectives

Effectiveness is often defined as:

• doing things right

• stakeholder satisfaction

• doing the right thing

• productivity enhancement

All of the following are ambidextrous behaviors EXCEPT:

• taking initiative and being alert to opportunities beyond the confines of one's own job

• being cooperative and seeking opportunities to combine one's efforts with others

• intensely focusing on the responsibilities of one individual and maximizing the output of the department in the organization in which that individual works

• being brokers, always looking to build internal linkages

According to Henry Mintzberg, the realized strategies of a firm:

• are a combination of deliberate and emergent strategies

• are a combination of deliberate and differentiation strategies

• must be based on the strategic plan of the company

• must be kept confidential for competitive reasons

__________ may be considered the advance work that must be done in order to effectively formulate and implement strategies.

• Goal setting

• Corporate entrepreneurship

• Strategy analysis

• Organizational design

Stakeholders are:

• a new way to describe stockholders

• individuals, groups, and organizations who have a stake in the success of the organization

• creditors who hold a lien on the assets of the organization

• attorneys and their clients who sue the organization