Strategic Management Quiz 3

Which of the following is NOT a stakeholder attribute that managers consider during stakeholder impact analysis? A. A stakeholder's legitimate claim B. A stakeholder's liquidity C. A stakeholder's power D. A stakeholder's urgent claim

A stakeholder's liquidity

All of the following are external stakeholders except which of the following? A. Customers B. Creditors C. Competitors D. Alliance partners

Competitors

which of the following scenarios best illustrates a good stakeholder strategy? A. PA corp distributes only 70% of its annual profit after tax of shareholders, while the remaining is distributed among employees and the local community and invested for further research B. VP inc follows a strategy in which maximization of the shareholders wealth is the primary concern of the managers C. Gen Pharma Corp. ensures that it fully exploits free natural resources, so that most of its profits go to shareholders in the form of dividends D. Carrvero Inc. ensures that its employees are paid the least in the industry so that its external stakeholder can get the best price

PA corp distributes only 70% of its annual profit after tax of shareholders, while the remaining is distributed among employees and the local community and invested for further research

How are the two approaches, strategic planning and scenario planning, different from the strategy-as-planned-emergence approach? A. Strategy as a planned emergence model was introduced before strategic planning and scenario planning. B. Unlike strategic planning and scenario planning, strategy as a planned emergence model does not begin with a strategic plan. C. Relative to strategic planning and scenario planning, strategy as a planned emergence model is a less formal and less stylized approach to the development of strategy. D. Unlike strategic planning and scenario planning, strategy as a planned emergence model is a rational top-down planning approach.

Relative to strategic planning and scenario planning, strategy as a planned emergence model is a less formal and less stylized approach to the development of strategy.

Which of the following is an approach to the development of strategy that involves asking "what if" questions to anticipate plausible futures? A. Reverse mentoring B. Scenario planning C. Top-down strategic planning D. Bottom-up strategic thinking

Scenario planning

Individuals or groups that can affect or be affected by the actions of a firm are called A. associates B. Stakeholders C. Senators D. competitors

Stakeholders

Scenario planning typically begins with managers: A. executing a dominant strategic plan. B. brainstorming to identify multiple plausible futures. C. developing different strategic plans to address possible future scenarios. D. building a portfolio of future strategic options.

brainstorming to identify multiple plausible futures.

Stakeholder strategy is an integrative approach to managing a diverse set of stakeholders effectively in order to... A. minimize the joint value created B. minimize the difference between value creation and cost C. gain and sustain competitive advantage D. single-mindedly focus on the stockholders alone

gain and sustain competitive advantage

A core tenet of stakeholder strategy is that a A. firm should isolate its internal stakeholders from its external stakeholders. B. single-minded focus on shareholders alone exposes a firm to undue risks that can threaten the very survival of the enterprise. C. multifaceted exchange relationship with internal and external stakeholders can lead to a firm's competitive disadvantage. D. firm should work toward competitive parity rather than gaining and sustaining a competitive advantage.

single-minded focus on shareholders alone exposes a firm to undue risks that can threaten the very survival of the enterprise

A traditional top-down strategic planning process typically begins with: A. functional managers formulating functional strategies for their respective departments. B. employees at the operational level identifying problems within an organization. C. strategic leaders adjusting a company's vision and mission based on environmental analysis. D. employees who have close contact with customers taking autonomous actions.

strategic leaders adjusting a company's vision and mission based on environmental analysis.

An intended strategy is best described as: A. a combination of its top-down strategic intentions and bottom-up emergent strategy. B. any unplanned strategic initiative undertaken by mid-level employees of their own volition. C. the outcome of a rational and structured, top-down strategic plan. D. a strategy developed at the lower levels of management to tackle unpredictable events.

the outcome of a rational and structured, top-down strategic plan.

___ is best described as a rational process in which executives at a company's headquarter take primary responsibility to program future success of the company they lead A. bottom-up strategic approach B. emergent strategic plan C. top-down strategic planning D. reverse mentoring

top-down strategic planning