an example of an internal analysis.

Chapter 01 - Strategic Leadership: Managing the Strategy-Making Process for Competitive Advantage Copyright Cengage Learning. Poweredby Cognero.Page 1 True / False 1.Determining the technological and legal factors surrounding a company’s possible international expansion into India is an example of an internal analysis.

• True
• False

ANSWER: False

POINTS: 1

DIFFICULTY: Moderate

REFERENCES: 1-5 The Strategic Planning Process

QUESTION TYPE: True / False

HAS VARIABLES: False

LEARNING OBJECTIVES: SM.HILL.24.01.05 - Identify the primary steps in a strategic planning process.NATIONAL STANDARDS: United States - BUS PROG: Reflective Thinking KEYWORDS: Bloom's: Apply

DATE CREATED: 4/19/2023 4:45 PM

DATE MODIFIED: 4/21/2023 11:36 AM

2.A customer comment on an online forum about changing a company’s product placement in stores stimulates a change in an existing business plan, which results in increased profits and positive outcomes and is an example of serendipity.

• True
• False

ANSWER: True

POINTS: 1

DIFFICULTY: Moderate

REFERENCES: 1-6 Strategy as an Emergent Process

QUESTION TYPE: True / False

HAS VARIABLES: False

LEARNING OBJECTIVES: SM.HILL.24.01.06 - Examine the criticisms of strategic planning.NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic KEYWORDS: Bloom's: Apply

DATE CREATED: 4/19/2023 4:45 PM

DATE MODIFIED: 4/21/2023 11:36 AM

3.Using customer surveys, focus groups, and field research to drive business decisions is an example of the ivory tower concept of planning.

• True
• False

ANSWER: False

POINTS: 1

DIFFICULTY: Moderate

REFERENCES: 1-7 Strategic Planning in Practice

QUESTION TYPE: True / False

HAS VARIABLES: False

LEARNING OBJECTIVES: SM.HILL.24.01.07 - Review the practice of strategic planning.Strategic Management Theory & Cases An Integrated Approach, 14e Charles Hill, Melissa Schilling (Test Bank All Chapters, 100% Original Verified, A+ Grade) 1 / 4

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NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic KEYWORDS: Bloom's: Apply

DATE CREATED: 4/19/2023 4:45 PM

DATE MODIFIED: 4/21/2023 11:36 AM

• Making a general business decision about where to manufacture a product based on the result of a single survey of one

small focus group is a cognitive bias known as illusion of control.

• True
• False

ANSWER: False

POINTS: 1

DIFFICULTY: Moderate

REFERENCES: 1-8 Strategic Decision Making

QUESTION TYPE: True / False

HAS VARIABLES: False

LEARNING OBJECTIVES: SM.HILL.24.01.08 - Explain strategic decision making and the cognitive biases that might lead to poor strategic decisions.NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic KEYWORDS: Bloom's: Apply

DATE CREATED: 4/19/2023 4:45 PM

DATE MODIFIED: 4/21/2023 11:36 AM

Multiple Choice

• Which of the following statements about sustained competitive advantage is true?
• It is unaffected by the strategies taken by the company.
• Sustainability is achieved when it lasts for three months.
• It exists only when the company's profitability is greater than the 10 highest grossing firms in the world.
• It exists only when the company's profitability is greater than the average profitability and profit growth of its

rivals.

• It is seldom affected by the business model of the company.

ANSWER: d

POINTS: 1

DIFFICULTY: Easy

REFERENCES: 1-3 Competitive Advantage and a Company’s Business Model

QUESTION TYPE: Multiple Choice

HAS VARIABLES: False

LEARNING OBJECTIVES: SM.HILL.24.01.03 - Explain what is meant by “competitive advantage.” NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic KEYWORDS: Bloom's: Understand

DATE CREATED: 4/19/2023 4:45 PM

DATE MODIFIED: 4/21/2023 11:36 AM

• Daryl works for Delta Corp. He is involved in the important decision-making processes of the company and is also

responsible for the overall performance of the company. In the context of strategic management, Daryl is most likely a:

• line manager.
• functional manager. 2 / 4

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• general manager.
• production supervisor.
• project manager.

ANSWER: c

POINTS: 1

DIFFICULTY: Moderate

REFERENCES: 1-4 Strategic Managers

QUESTION TYPE: Multiple Choice

HAS VARIABLES: False

LEARNING OBJECTIVES: SM.HILL.24.01.04 - Discuss the strategic role of managers at different levels within an organization.NATIONAL STANDARDS: United States - BUS PROG: Reflective Thinking KEYWORDS: Bloom's: Apply

DATE CREATED: 4/19/2023 4:45 PM

DATE MODIFIED: 4/21/2023 11:36 AM

• Which of the following is a difference between a general manger and a functional manager?
• A general manager has no responsibility to the performance of the individuals of the company while the

functional manager has an integral relationship with employee performance.

• A general manager is responsible for overall performance while the functional manager is responsible for a

specific task or activity.

• A functional manager has the profit-and-loss responsibility for a product while the general manager is strictly

dedicated to strategic planning.

• A functional manager oversees the operation of an entire division while a general manager develops strategies

that help fulfill strategic objectives.

• General managers are closer to the customer than functional managers, and their ideas may develop into

effective strategic plans for the business.

ANSWER: b

POINTS: 1

DIFFICULTY: Moderate

REFERENCES: 1-4 Strategic Managers

QUESTION TYPE: Multiple Choice

HAS VARIABLES: False

LEARNING OBJECTIVES: SM.HILL.24.01.04 - Discuss the strategic role of managers at different levels within an organization.NATIONAL STANDARDS: United States - BUS PROG: Reflective Thinking KEYWORDS: Bloom's: Analyze

DATE CREATED: 4/19/2023 4:45 PM

DATE MODIFIED: 4/21/2023 11:36 AM

• In the last five years, Blue Drinks, a multinational beverage corporation, increased its return on invested capital (ROIC)

from $5 million to $25 million. The company was able to do this by expanding its product line to include a wider variety of flavors. The $20 million increase in its ROIC over this period can be referred to as which of the following?

• Shareholder value
• Dividend payment
• Profit growth
• Profitability turnover 3 / 4

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• Risk capital

ANSWER: c

POINTS: 1

DIFFICULTY: Moderate

REFERENCES: 1-2 Strategic Leadership and Superior Performance

QUESTION TYPE: Multiple Choice

HAS VARIABLES: False

LEARNING OBJECTIVES: SM.HILL.24.01.02 - Discuss leadership and its relationship to superior performance.NATIONAL STANDARDS: United States - BUS PROG: Reflective Thinking KEYWORDS: Bloom's: Apply

DATE CREATED: 4/19/2023 4:45 PM

DATE MODIFIED: 4/21/2023 11:36 AM

• Which of the following statements about nonprofit organizations is true?
• They compete for scarce resources just as for-profit businesses do.
• Their priority is to maximize shareholder value in order to attract risk capital.
• Their managers do not need to develop careful strategies because making a profit is not the organization's goal.
• They do not have to worry about exceeding budgets.
• They seldom set performance goals like profit-seeking organizations.

ANSWER: a

POINTS: 1

DIFFICULTY: Easy

REFERENCES: 1-3 Competitive Advantage and a Company’s Business Model

QUESTION TYPE: Multiple Choice

HAS VARIABLES: False

LEARNING OBJECTIVES: SM.HILL.24.01.03 - Explain what is meant by “competitive advantage.” NATIONAL STANDARDS: United States - BUS PROG: Reflective Thinking KEYWORDS: Bloom's: Understand

DATE CREATED: 4/19/2023 4:45 PM

DATE MODIFIED: 4/21/2023 11:36 AM

• Which of the following statements about strategic leadership is true?
• It is the primary responsibility of the functional managers of an organization.
• It does not consider the task of maximizing shareholder value.
• It is involved with making decisions regarding how to create competitive advantage.
• It is a concept that does not apply to multidivisional companies with several business units.
• It is essentially about supervising workers at a manufacturing unit of an organization.

ANSWER: c

POINTS: 1

DIFFICULTY: Easy

REFERENCES: 1-1 Strategy and Strategic Leadership

QUESTION TYPE: Multiple Choice

HAS VARIABLES: False

LEARNING OBJECTIVES: SM.HILL.24.01.01 - Define strategic leadership.

NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic

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