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_____ is best described as a strategy process in which organizational structure and systems allow bottom-up strategic initiatives to emerge and be evaluated and coordinated by top management.


A) Planned emergence
B) Scenario planning
C) Top-down strategic planning
D) Reverse engineering

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

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Organizational values are the _____ that govern the behavior of individuals within a firm or organization.


A) economic measures
B) ethical standards and norms
C) political principles and policies
D) social beliefs and actions

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

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


A) Strategy as a planned emergence model was introduced before strategic planning and scenario planning.
B) Unlike strategic planning and scenario planning, strategy as a planned emergence model does not begin with a strategic plan.
C) 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.
D) Unlike strategic planning and scenario planning, strategy as a planned emergence model is a rational top-down planning approach.

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

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What are customer-oriented vision statements? Explain with the help of an example.

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Student answers may vary.
A customer-ori...

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A(n) _____ is best described as the strategic option that top managers decide most closely matches the current reality and which is then executed.


A) bottom-up emergent strategy
B) executive summary
C) realized strategy
D) dominant strategic plan

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

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Strategic thinking is different from strategic planning in that:


A) strategic thinking includes all types of information sources while strategic planning does not.
B) strategic thinking relies more on hard data than strategic planning.
C) strategic thinking is regimented and confining, whereas strategic planning is more flexible.
D) strategic thinking can create an illusion of control, whereas strategic planning avoids this.

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

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Why is it better for firms to keep their vision statements customer-oriented rather than product-oriented?

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Companies that have customer-oriented vi...

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In a large company, who is most responsible for devising the corporate strategy?


A) The CEO of the company
B) The lower-level employees in the company
C) The head of the production department in the company
D) The human resource manager in the company

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

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Which of the following statements is true of top-down strategic planning?


A) Information flows both ways in the process, from the upper management to the lower management and also the other way around.
B) In this process, the formulation of strategy is separate from implementation.
C) Employees at the operation level have major responsibility in strategizing for competitive advantage.
D) The process is based on the assumption that the past cannot be used to predict the future.

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

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Molly Hue Apparels Inc.(MHA) had been outsourcing its production to less-developed countries in order to reduce its cost of production.With the emergence of its competitor, Hova Inc., MHA lost its competitive advantage.Hova had its production units in its home country that allowed the company to bring out the latest trends to the market earlier than MHA.Also, MHA frequently suffered due to political instability and lack of intellectual property laws in the outsourced countries.Thus, parts of MHA's strategies became obsolete and it had to relocate its production.What are such obsolete strategies referred to as in the planned emergence model?


A) Intended strategy
B) Emergent strategy
C) Unrealized strategy
D) Tactical strategy

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

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Discuss the role of lower-level employees in the strategy-as-planned-emergence approach.

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In planned emergence, employees should b...

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Understanding the Resource Allocation Process (RAP) will have large effects on shaping a firm's realized strategy.Which of the following is an example of such an allocation of resources?


A) Starbucks' launch of iced drinks
B) Teach For America's mission statement
C) Merck's voluntary withdrawal of Vioxx from the market
D) Intel's rule to "maximize margin-per-wafer-start"

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

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Which of the following best describes a Level-5 manager in the Level-5 leadership pyramid?


A) Gina is an employee who just started her career GL Inc.; she has already been appreciated for her knowledge and skills in the new company.
B) Derek is an employee at One Triangle Inc.; he has helped his team achieve their targets by contributing to the team's efforts.
C) Harry is part of the marketing team at JB Corp.; he has been given the charge of managing a team of three based on which he will be promoted to a manager's position next month.
D) Walter is the CEO of Red Autos Inc.; he has helped his company in gaining and sustaining a competitive advantage through ethical decision making.

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

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


A) Top-down strategic planning
B) Bottom-up strategic thinking
C) Scenario planning
D) Reverse mentoring

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

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Which of the following strategies best illustrates a functional strategy?


A) The CEO of Dawn Companies Inc. has decided that the company will be entering the Asian market.
B) The general manager of a product division of Aster Products Inc. has decided that 30 percent of the division's annual profits will be invested in research and development.
C) The regional manager for the consumer electronics division of Dawson & Co. has decided that the division will pursue backward integration to save costs.
D) The production manager at the apparel division of Style Culture Co. has decided that the department will hire contract workers for three months to meet the temporary demand.

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

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Strategic commitments are actions that are:


A) inexpensive.
B) long-term oriented.
C) easy to reverse.
D) easy to imitate.

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

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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) B) and C)
F) All of the above

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Blue Bird Products Inc.(BBP) 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) None of the above
F) B) and C)

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How does a mission statement differ from a firm's vision?

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Vision is a statement about what an orga...

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What functions do strong ethical values serve?

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Strong ethical values have two important...

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