MGMT 595

Which of the following statements does the upper-echelons theory support?

Executives interpret situations through the lens of their unique perspectives, shaped by personal circumstances, values, and experiences

Which of the following is a philanthropic responsibility of a firm

Exhibiting corporate citizenship

Which of the following statements about competitive advantage is not true?

A firms competitive advantage is always absolute, not relative

Which of the following statements is true of strategy?

Actions that allow a firm to address competitive challenge are strategy

Which of following type of industries are more profitable

Consolidated

According to the level-5 leadership pyramid, the level 2 manger is an..

Contributing team member

Companies in the same strategic group are ___ to each other

Direct competitors

The final step in an industry analysis is to:

Draw a strategic group map

Which of the following statements is true of the level-5 leadership pyramid?

Each level of leadership builds upon the previous one in the pyramid

Competitive industry structure concerns which of the five forces in the Porters model

Rivalry among existing firms

Which of the following forces was NOT originally part of Michael Porters five forces model?

Strategic role of complements

Which of the following does a firm possess when it can outperform other firms in the same industry or the industry average over a prolonged period of time?

Sustainable competitive advantage

If a company chooses to keep its vision customer-oriented rather the product-oriented, what will be the implication of that decision?

The company will tend to be more flexible when adapting to changing environments

Which of the following statements accurately brings out the difference between an organizations vision and mission?

Vision defines what the organization wants to accomplish ultimately, whereas the missions defines the means by which the vision is accomplished

Organizational core values are the answer to which of the following questions?

What commitments do we make to act both legally and ethically

A diagnosis of the competitive challenge, an element of a good strategy, is primarily accomplished through strategy...

analysis

Which of the following groups is most likely to be considered a firms internal stakeholder?

board members

In a firm's external environment, _____ primarily capture population characteristics related to age, gender, family size, ethnicity, sexual orientation, religion, and socioeconomic class.

demographics trends

A strategic group will typically include?

firms within the same industry

The greater difference between value creation and cost, the

greater a firms economic contribution

A firm's _____ is likely to fall by the wayside because of unpredictable events and turn into unrealized strategy.

intended strategy

Which of the following is a stakeholder attribute that managers should consider at every step in a stakeholder impact analysis?

legitimacy

Which of the following groups will not be considered a company's internal stakeholder?

suppliers

Which of the following questions would a firms business strategy ideally answer?

How should we compete

Which of the following is a feature of a fragmented industry?

It consists of many small firms

The ___ allows the scanning, monitoring, and evaluating of changes and trends in a firms macro environment.

PESTEL framework