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The Chief Executive Officer (CEO) of Yahoo,Marissa Mayer,maintains that if a company builds the best product possible,profits will come.Identify the phrase that represents the new vision she developed for Yahoo.


A) to achieve human sustainability while having fun doing it
B) to provide a high-quality product that has environmental sustainability
C) to appeal to the whole person at work and at home
D) to make the world's daily habits more inspiring and entertaining

E) All of the above
F) A) and C)

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Green Rabbit Products Inc.(GRP) is a large conglomerate.The human resources department of its telecom division has decided to reduce its employee turnover by encouraging internal promotions.Which of the following strategies does this scenario best illustrate?


A) corporate strategy
B) business strategy
C) functional strategy
D) grand strategy

E) A) and C)
F) A) and D)

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Free Winds,Inc.is a company that manufactures a variety of generators that run on wind power.The company wants to ensure that wind technology replaces all forms of exhaustible energy sources in the near future.Which of the following statements will make an accurate vision for Free Winds?


A) We make products that run on wind energy.
B) All nations around the globe should have access to a sustainable energy source.
C) The company aims to make working fun and pleasurable for its employees.
D) We provide energy-efficient sources and services by investing in research and innovation.

E) A) and D)
F) A) and B)

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White Leo Autos manufactures and markets four different cars: Leo Sport,Leo Prestige,Leo Spark,and Leo Ease.These four product variants are operated as individual business units.While the product leaders of Leo Sport,Leo Prestige,and Leo Spark have adopted a differentiation strategy to attract the niche market: the product leader of Leo Ease follows a cost-leadership strategy to suit the mass market.This decision of the product leader of Leo Ease can be ideally categorized as a _____ strategy.


A) corporate
B) functional
C) business
D) tactical

E) A) and B)
F) None of the above

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Which of the following summarizes the difference between corporate strategy and business strategy?


A) Corporate strategy deals with how to compete; business strategy deals with where to compete.
B) Corporate strategy deals with when to compete; business strategy deals with how to compete.
C) Corporate strategy deals with how to compete; business strategy deals with when to compete.
D) Corporate strategy deals with where to compete; business strategy deals with how to compete.

E) All of the above
F) None of the above

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Top-down strategic planning as an approach to the strategic management process will be most effective when the


A) environment is constantly changing.
B) size of the firm is large.
C) probability of black swan events is high.
D) top management wants to decentralize decision making.

E) A) and D)
F) All of the above

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After carefully assessing the market potential for hybrid motorcycles,it was decided at the corporate headquarters of HyCycles Inc.that the company would be launching a hybrid version of all its motorcycle models within the next two years.This would mean that each strategic business unit under the company would be involving in its own research and development efforts.Which of the following strategies in the planned emergence model does this best illustrate?


A) intended strategy
B) emergent strategy
C) unrealized strategy
D) tactical strategy

E) All of the above
F) A) and B)

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The first step in the strategic management process is to


A) define a firm's vision, mission, and values.
B) understand the strategies of the competitors.
C) put the guiding policies of a firm into practice.
D) develop functional and business-level strategies.

E) All of the above
F) None of the above

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Pioneer Pharma Inc.and GH Medicines Corp.are two competing firms in the pharmaceutical industry.While Pioneer Pharma Inc.'s vision is "to be a preeminent drug manufacturer in the industry," GH Medicines Corp.'s vision is "to make good health a reality for everyone around the world." Which of the following is an implication of these different visions?


A) GH Medicines' vision is more product-oriented than the vision of Pioneer Pharma.
B) Pioneer Pharma is more likely to have a positive relationship between its vision and firm performance than GH Medicines.
C) Pioneer Pharma's vision is more long-term and futuristic than GH Medicines' vision.
D) GH Medicines will be more flexible than Pioneer Pharma when adapting to changing environments.

E) None of the above
F) A) and D)

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In the top-down strategic planning approach,all strategic intelligence and decision-making responsibilities rest primarily on the


A) functional managers.
B) chief executive officer.
C) external stakeholders.
D) general manager.

E) None of the above
F) A) and B)

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The CEO of True West Products Inc.(TWP) is a company that sells a wide range of products.It has decided to enter the markets of emerging nations like China and Brazil.This means that the cars,consumer electronics,and services such as hotels included under the TWP banner would be made available in these nations.Which of the following strategies does this scenario best illustrate?


A) corporate strategy
B) functional strategy
C) business strategy
D) divisional strategy

E) A) and B)
F) A) and C)

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A traditional top-down strategic planning process typically begins with


A) employees at the operational level identifying problems within an organization.
B) functional managers formulating functional strategies for their respective departments.
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.

E) B) and D)
F) C) and D)

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


A) corporation
B) strategic business unit
C) affiliate company
D) functional department

E) A) and B)
F) A) and C)

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_____ are primarily responsible for decisions and actions within their respective departments like finance,human resources,marketing,and production in a strategic business unit.


A) Functional managers
B) Corporate executives
C) Strategic leaders
D) General managers

E) None of the above
F) All of the above

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


A) organize resources effectively to accomplish predetermined goals.
B) build enduring greatness into the organizations he or she leads.
C) identify the vision and the mission of the company.
D) justify unethical activities as legal and ethical.

E) C) and D)
F) All of the above

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What is strategic leadership?


A) the ability to delegate authority to create an effective strategic management process
B) the executives' use of power and influence to direct the activities of others when pursuing an organization's goals
C) the ability to inspire managers and other employees to create the best product possible
D) the executives' use of power and influence to inspire workers to take responsibility for the final product

E) B) and D)
F) B) and C)

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Unrealized strategy is when parts of a firm's intended strategy is


A) nonfunctional due to unexpected events.
B) not revealed to the lower-level employees.
C) implemented and controlled by front-line employees.
D) planned to tackle some unforeseen events.

E) None of the above
F) All of the above

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Which of the following statements accurately brings out the difference between top-down strategic planning and scenario planning?


A) While in top-down strategic planning a top-down approach is used to develop strategies, in scenario planning a bottom-up approach is used.
B) Scenario planning helps create strategic plans that are more flexible, and thus more effective, than those created through the more static strategic planning approach.
C) While top-down strategic planning takes place at both the corporate and business levels of strategy, scenario planning takes place only at the corporate level.
D) Top-down strategic planning addresses only pessimistic futures, whereas scenario planning addresses only optimistic futures.

E) A) and B)
F) A) and C)

Correct Answer

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The _____ is a conceptual framework that views organizational outcomes-strategic choices and performance levels-as reflections of the values of the members of the top management team,who interpret situations through the lens of their unique perspectives.


A) two-factor theory
B) expectancy theory
C) upper-echelons theory
D) value orientation theory

E) A) and B)
F) B) and C)

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How do strong ethical values benefit a firm?


A) They lay the groundwork for a quick increase of profits and short-term success.
B) They serve as the guardrails put in place to keep the company on track when pursuing its mission.
C) They provide strong public relations, which can either benefit or hinder competitive advantage.
D) They emphasize benefiting employees by significantly increasing profit.

E) A) and B)
F) B) and C)

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