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Exam 1: Strategic Management: Creating Competitive Advantages

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Question 91

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Strategic management is not concerned with how to create competitive advantage in the marketplace.

A) True
B) False

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Question 92

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The hierarchy of organizational goals is in this order (least specific to most specific) :

A) vision statements, strategic objectives, mission statements
B) mission statements, strategic objectives, vision statements
C) vision statements, mission statements, strategic objectives
D) mission statements, vision statements, strategic objectives

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

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Question 93

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The Higgs Index enables companies to compare environmental performance outcomes in order to improve their environmental impact and is an example of how rivals work together to resolve complex problems.

Strategic objectives should be measurable, specific, appropriate, and realistic, but not constrained by time deadlines.

Effective leadership can play a large role in fostering corporate entrepreneurship. Corporate entrepreneurship can have a very positive impact on the bottom line of a firm.

A key stakeholder group that is particularly susceptible to corporate social responsibility (CSR) initiatives is

The four key attributes of strategic management include the idea that strategy must

The four key attributes of strategic management include all of the following except

Decisions by boards of directors are always consistent with shareholder interests.

As a stakeholder group, creditors are interested in taxes and compliance with regulations.

The ROI on a sustainability project generally is easy to quantify.

The strategic management process should be addressed only by top-level executives. Mid-level and low-level employees are best equipped to implement the strategies of the organization.

In the strategic management process, only local line leaders and executive leaders are needed.

Sustainability projects often require shorter-term payback windows than other projects.