Strategic management: Q3/4 Strategic leadership; formulating strategy across levels; and top down strategic planning, scenario planning, and strategic emergence/The PESTEL framework

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

A traditional top-down strategic planning process typically begins with:

strategic business unit

A(n) _____ is best described as a standalone division of a larger company, with its own profit-and-loss responsibility.

organize resources effectively to accomplish predetermined goals.

According to the Level-5 leadership pyramid, a manager at Level 3 has acquired the ability to:

where to compete

As a part of strategy formulation, corporate strategy concerns questions relating to

corporate

Due to political instability in the country of United Mapa, the strategic leaders at the headquarters of FT Supplies Inc. have decided to divest the company's business from the foreign market in United Mapa. This decision would be applicable to all the business units of FT Supplies Inc. operating in United Mapa. Thus, this is decision reflects the _____ area of strategy formulation.

Ethan is a top management executive in the company.

During an assessment of employees and leaders in a company, Ethan Browne was categorized as a Level-5 manager in the Level-5 leadership pyramid. Which of the following can be inferred from this information?

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.

How are the two approaches namely strategic planning and scenario planning different from strategy-as-planned-emergence approach?

Level 2

Nathan is part of a sales team. He effectively coordinates his tasks with others in the team and willingly contributes to their efforts in achieving the team's objectives. Thus, Nathan is in _____ of the Level-5 leadership pyramid.

Level 4

Richard is a manager. His colleagues and subordinates look up to him as a man who always does the right things. Along with other skills, his ability to effectively organize and deploy resources like manpower, material, and money has been appreciated by his seniors. According to the Level-5 leadership pyramid, which of the following levels would be the immediate next step for Richard?

brainstorming to identify multiple plausible futures.

Scenario planning typically begins with managers:

Legal factors

The government of Filvia has mandated that the standard minimum wage in the country be increased to $8,000 per year. This has ensured that all firms in the country pay their employees at least $8,000 per year, which has brought about a higher standard of living for the people of Filvia. Which of the following factors in a firm's general environment does this mandate best indicate?

core values

The pharmaceutical company Merck's new drug Vioxx was a blockbuster, generating revenues of $2.5 billion a year by 2002 and growing fast. When allegations began to surface in the medical community that the firm had suppressed evidence of negative side-effects during clinical trials, Merck announced the voluntary withdrawal of Vioxx from the market. In this example, Merck provides an example of what can happen if a company deviates from its _____.

environment does not change much.

Top-down strategic planning works best when the:

There is an increase in prices

What is most likely to happen when there is too much money in an economy?

The consumer electronics division of a large company that also manufactures automobiles, apparel, and processed food

Which of the following best illustrates a strategic business unit (SBU)?

The family size of the firm's target market

Which of the following do the sociocultural forces in a firm's external environment best represent?

Scenario planning

Which of the following is an approach to the development of strategy that involves asking "what if" questions to anticipate plausible futures?

Consumer demand will increase.

Which of the following is an implication of low interest rates?

A corporate strategy must be able to create synergies across business units that may be quite different.

Which of the following statements is true of corporate strategy?

Top-down strategic planning

_____ is best described as a rational process in which executives at a company's headquarters take primary responsibility to program future success of the company they lead.