BPL5100 Exam Questions 100% Correct
Answers Current Update Verified Pass
Two Perspectives of Leadership - Answer -External Control Perspective and Romantic
View
External Control Perspective - Answer -External forces determine the organization's
success (economic downturns)
Romantic View - Answer -Leader is the key force in organization's success
Strategic Management - Answer -The analysis, decisions, and actions of a business
that have the goal of creating sustainable competitive advantages.
Decisions - Formulation - Answer -• What industries should we compete in?
• How should we compete in those industries?
Actions - Implementation of strategy - Answer -• Allocate necessary resources
• Design the organization to bring intended strategies to reality
Strategy - Answer -The ideas, decisions, and actions that enable a firm to succeed.
Competitive Advantage - Answer -A firm's resources and capabilities that enable it to
overcome the competitive forces in its industry(ies).
Operational Effectiveness - Answer -Performing similar activities better than rivals
Stakeholders - Answer -Individuals, groups, and organizations that have a stake in the
success of the organization.
• These include owners (shareholders in a publicly held corporation), employees,
customers, suppliers, and the community at large.
Effectiveness - Answer -Tailoring actions to the needs of an organization rather than
wasting effort, or "doing the right thing."
Efficiency - Answer -Performing actions at a low cost relative to a benchmark, or "doing
things right."
Ambidexterity - Answer -The challenge managers face of both aligning resources to
take advantage of existing product markets as well as proactively exploring new
opportunities
, Intended Strategy - Answer -Strategy in which organizational decisions are determined
only by analysis.
Realized Strategy - Answer -Strategy in which organizational decisions are determined
by both analysis and unforeseen environmental developments, unanticipated resource
constraints, and/or changes in managerial preferences
Strategy Analysis - Answer -Study of firms' external and internal environments, and their
fit with organizational vision and goals
Strategy formulation - Answer -Decisions made by firms regarding investments,
commitments, and other aspects of operations that create and sustain competitive
advantage.
Strategy implementation - Answer -Actions made by firms that carry out the formulated
strategy, including strategic controls, organizational design, and leadership.
Corporate Governance - Answer -The relationship among various participants in
determining the direction and performance of corporations.
The primary participants are
(1) the shareholders
(2) the management (led by the chief executive officer)
(3) the board of directors
Stakeholder Management - Answer -A firm's strategy for recognizing and responding to
the interests of all its salient stakeholders.
Social Responsibility - Answer -The expectation that businesses or individuals will strive
to improve the overall welfare of society
Triple Bottom Line - Answer -Assessment of a firm's financial, social, and environmental
performance.
Hierarchy of goals - Answer -Organizational goals ranging from, at the top, those that
are less specific yet able to evoke powerful and compelling mental images, to, at the
bottom, those that are more specific and measurable
Vision - Answer -Organizational goal(s) that evoke(s) powerful and compelling mental
images
Mission Statement - Answer -A set of organizational goals that identifies the purpose of
the organization, its basis of competition, and competitive advantage.
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