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Test Bank Strategic Management: Theory & Cases: An Integrated Approach - 13th -
Test Bank Strategic Management: Theory & Cases: An Integrated Approach - 13th - 2020
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Test Bank for Strategic Management 13th Edition Chapter 01: Strategic Leadership: Managing the Strategy -Making Process for Competitive AdvantageTrue / False
1.A strategy can be defined as a set of related actions that managers take to increase their company's performance.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-1 Overview
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: SM.HILL.20.01.01 - Explain what is meant by "competitive advantage"
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic KEYWORDS: Bloom's: Remember
DATE CREATED: 3/7/2019 4:52 PM
DATE MODIFIED: 4/2/2019 8:34 AM
2.Strategic leadership is concerned with how to most effectively manage a company's strategy -making process to create
competitive advantage.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-1 Overview
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: SM.HILL.20.01.01 - Explain what is meant by "competitive advantage"
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic KEYWORDS: Bloom's: Remember
DATE CREATED: 3/7/2019 4:52 PM
DATE MODIFIED: 4/2/2019 8:34 AM
3.To increase shareholder value, managers must try to venture into new markets whether the results are profitable or not.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-2 Strategic Leadership, Competitive Advantage, and Superior Performance QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: SM.HILL.20.01.01 - Explain what is meant by "competitive advantage"
Page 1 NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic KEYWORDS: Bloom's: Understand DATE CREATED: 3/7/2019 4:52 PM DATE MODIFIED: 4/2/2019 8:34 AM 4. A firm obtains competitive advantage when its strategy results in superior performance compared to its competitors. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy REFERENCES: 1-2 Strategic Leadership, Competitive Advantage, and Superior Performance QUESTION TYPE: True / False HAS VARIABLES: False LEARNING OBJECTIVES: SM.HILL.20.01.01 - Explain what is meant by "competitive advantage" NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic KEYWORDS: Bloom's: Understand DATE CREATED: 3/7/2019 4:52 PM DATE MODIFIED: 4/2/2019 8:34 AM 5. Return on invested capital (ROIC) is a measure of how efficiently and effectively managers use the capital at their disposal to produce profitability. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Moderate REFERENCES: 1-2 Strategic Leadership, Competitive Advantage, and Superior Performance QUESTION TYPE: True / False HAS VARIABLES: False LEARNING OBJECTIVES: SM.HILL.20.01.01 - Explain what is meant by "competitive advantage" NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic KEYWORDS: Bloom's: Understand DATE CREATED: 3/7/2019 4:52 PM DATE MODIFIED: 4/2/2019 8:34 AM 6. The profit growth of a company can be measured by the increase in net profit over time. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy REFERENCES: 1-2 Strategic Leadership, Competitive Advantage, and Superior Performance QUESTION TYPE: True / False HAS VARIABLES: False LEARNING OBJECTIVES: SM.HILL.20.01.01 - Explain what is meant by "competitive advantage" Page 2 NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic KEYWORDS: Bloom's: Remember DATE CREATED: 3/7/2019 4:52 PM DATE MODIFIED: 4/2/2019 8:34 AM 7. A business model is managers' conception of how the set of strategies their company pursues work together as a congruent whole, enabling the company to gain a competitive advantage as well as achieve superior profitability and profit growth. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy REFERENCES: 1-2 Strategic Leadership, Competitive Advantage, and Superior Performance QUESTION TYPE: True / False HAS VARIABLES: False LEARNING OBJECTIVES: SM.HILL.20.01.01 - Explain what is meant by "competitive advantage" NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic KEYWORDS: Bloom's: Remember DATE CREATED: 3/7/2019 4:52 PM DATE MODIFIED: 4/2/2019 8:34 AM 8. One of the factors that distinguish organizations in the nonprofit sector from profit -making businesses is the lack of a need for strategic management. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy REFERENCES: 1-2 Strategic Leadership, Competitive Advantage, and Superior Performance QUESTION TYPE: True / False HAS VARIABLES: False LEARNING OBJECTIVES: SM.HILL.20.01.01 - Explain what is meant by "competitive advantage" NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic KEYWORDS: Bloom's: Remember DATE CREATED: 3/7/2019 4:52 PM DATE MODIFIED: 4/2/2019 8:34 AM 9. General managers bear responsibility for the overall performance of the company or for one of its major self-contained subunits or divisions. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy REFERENCES: 1-3 Strategic Managers Page 3 QUESTION TYPE: True / False HAS VARIABLES: False LEARNING OBJECTIVES: SM.HILL.20.01.02 - Discuss the strategic role of managers at different levels within an organization NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic KEYWORDS: Bloom's: Remember DATE CREATED: 3/7/2019 4:52 PM DATE MODIFIED: 4/2/2019 8:34 AM 10. Changing the process of submitting and receiving purchase orders in the production division of a company would primarily be the responsibility of a functional -level manager. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Moderate REFERENCES: 1-3 Strategic Managers QUESTION TYPE: True / False HAS VARIABLES: False LEARNING OBJECTIVES: SM.HILL.20.01.02 - Discuss the strategic role of managers at different levels within an organization NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic KEYWORDS: Bloom's: Understand DATE CREATED: 4/1/2019 11:39 AM DATE MODIFIED: 4/2/2019 8:34 AM 11. The final component of the strategic management process is crafting the organization's mission statement, which provides the framework —or context—within which strategies are formulated. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy REFERENCES: 1-4 The Strategy -Making Process QUESTION TYPE: True / False HAS VARIABLES: False LEARNING OBJECTIVES: SM.HILL.20.01.03 - Identify the primary steps in a strategic planning process NATIONAL STANDARDS: United States - BUS PROG: Reflective Thinking KEYWORDS: Bloom's: Understand DATE CREATED: 3/7/2019 4:52 PM DATE MODIFIED: 4/2/2019 8:34 AM 12. The vision of the company and the mission statement can be used interchangeably. a. True b. False ANSWER: False Page 4
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