Strategic Management Chapter 01
Chapter 01
Strategic Management: Creating Competitive Advantages
True / False Questions
1. Nortel, like other firms, suffered from a drop in overall industry demand for telecommunications equipment during 2000 and 2001. According to the text, this would be an example of the "romantic" perspective of leadership.
True False
2. Strategic management consists of the analyses, decisions, and actions an organization undertakes in order to create and sustain competitive advantages.
True False
3. Strategic management includes strategy analysis, strategy formulation, and strategy implementation.
True False
4. Management innovations such as total quality, benchmarking, and business process reengineering often lead to sustainable competitive advantage.
True False
5. Strategic management recognizes the trade-offs between effectiveness and efficiency.
True False
6. The best firms always realize their intended strategy.
True False
7. According to the text, formulating strategy includes taking into consideration strategy at the business, international, and corporate levels. In addition managers must formulate effective entrepreneurial initiatives.
True False
8. Business-level strategy focuses on two issues, (1) what businesses to compete in, and (2) how businesses can be managed to achieve synergy.
True False
9. Corporate-level strategy addresses how firms compete and outperform their rivals as well as achieve and sustain competitive advantages.
True False
10. Effective leadership can play a large role in fostering corporate entrepreneurship. Corporate entrepreneurship can have a very positive impact on a firm's bottom line.
True False
11. The three primary participants in corporate governance are: (1) the shareholders; (2) management (led by the chief executive officer); and, (3) employees.
True False
12. Decisions by Boards
Strategic Management: Creating Competitive Advantages
True / False Questions
1. Nortel, like other firms, suffered from a drop in overall industry demand for telecommunications equipment during 2000 and 2001. According to the text, this would be an example of the "romantic" perspective of leadership.
True False
2. Strategic management consists of the analyses, decisions, and actions an organization undertakes in order to create and sustain competitive advantages.
True False
3. Strategic management includes strategy analysis, strategy formulation, and strategy implementation.
True False
4. Management innovations such as total quality, benchmarking, and business process reengineering often lead to sustainable competitive advantage.
True False
5. Strategic management recognizes the trade-offs between effectiveness and efficiency.
True False
6. The best firms always realize their intended strategy.
True False
7. According to the text, formulating strategy includes taking into consideration strategy at the business, international, and corporate levels. In addition managers must formulate effective entrepreneurial initiatives.
True False
8. Business-level strategy focuses on two issues, (1) what businesses to compete in, and (2) how businesses can be managed to achieve synergy.
True False
9. Corporate-level strategy addresses how firms compete and outperform their rivals as well as achieve and sustain competitive advantages.
True False
10. Effective leadership can play a large role in fostering corporate entrepreneurship. Corporate entrepreneurship can have a very positive impact on a firm's bottom line.
True False
11. The three primary participants in corporate governance are: (1) the shareholders; (2) management (led by the chief executive officer); and, (3) employees.
True False
12. Decisions by Boards