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Q1: A major benefit of simulation is its capability to ask what-if questions

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Answer: Correct – True

Q2: Which of these is known as hedging

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Answer: Large portfolio of unrelated products

Q3: Which of these is not a key ingredient in the implementation of change

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Answer: Training

Q4: Changes agents can be an extremely valuable asset to management, in implementing change. Who is a ‘change agent’

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Answer: Any employee

Q5: Which of these is not one of Kotter and Schlesinger’s (1979) six ways of overcoming resistance to change

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Answer: Removing problematic people

Q6: What are the four elements of the cycle of growth

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Answer: Creativity, nurturing, ‘doing’, control

Q7: According to Daft (1983), which of the following is not one of the four basic types of change which affect organizations

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Answer: Strategic

Q8: Which of the following was not one of the three key forces for change in the Halifax plc

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Answer: Culture

Q9: Which of the following is not one of the steps in transformational change

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Answer: Dedicating resources

Q10: Which of these is not a political tactic used to obtain results

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Answer: Information misuse

Q11: Lukes (1974) identified several aspects of power. Which of these is not one of those

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Answer: The ability to influence senior managers

Q12: Which of the following is not a recognized element of corporate strategy

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Answer: Competitive advantage

Q13: Which of the following statements is false? Formal strategic planning

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Answer: should develop clear and rigid plans for the organization to implement

Q14: Which of the following statements best describes the concept of ‘strategic awareness’

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Answer: Managers’ understanding of the organization’s strategy, its effectiveness, and the potential avenues for change

Q15: Which of the following is associated with successful strategies

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Answer: All of these—Creating superior value to customers Exploitation of key success factors Creating and maintaining strategic fit Achieving specified strategic objectives

Q16: Which type of strategies are of particular importance to global companies

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Answer: Corporate and competitive

Q17: Which one of the following is of concern for not-for-profit organizations

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Answer: The markets to service

Q18: Select the statement that best applies to emergent strategies. Emergent strategy…

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Answer: implies an ability to react to events

Q19: Select the most accurate statement. Value…

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Answer: is the benefits of a product/service, as perceived by the customer

Q20: Which of the following statements best describes ‘strategic management’

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Answer: A process consisting of the determination of direction, strategic actions to achieve objectives, the implementation of a desired strategy, and monitoring of that strategy

Q21: Which one of the following would not be considered a functional strategy

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Answer: Product-market

Q22: Which of the following best describes the concept of a ‘business model’

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Answer: It is the factors that, essentially, define the business

Q23: Which of the following statements is the correct view

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Answer: Success, in business, is about adding value of your own, not diminishing that of your competitors

Q24: Which of the following is not a purpose of strategic thinking

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Answer: To realize what needs to change

Q25: Which of the following is not an element of strategic thinking

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Answer: Manage organizational resources and competencies

Q26: Which of the following is not a recognized area of opportunity, for developing synergy

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Answer: Processual

Q27: Which of the following is one of the four key elements, which must be adhered to if synergy is to be achieved

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Answer: Effective leadership

Q28: What is synergy

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Answer: When the parts of an organization are combined and managed, in such a way that the benefits exceed those which would result, if the parts were operating separately

Q29: Which of these is not a key stakeholder that an organization must seek to satisfy

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Answer: Managers

Q30: When barriers to entry are high, the following is the most likely

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Answer: New entrants are likely to be deterred

Q31: When a firm is considered to have monopoly power, it has a market share of

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Answer: 0%

Q32: Organizations can add value by

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Answer: By adding positive features, and removing negative features

Q33: Scenario planning should

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Answer: None of these—Not be contemplated in a turbulent environment Only be considered when a monopoly position is held Not be connected to the present Only be considered relevant to global warming

Q34: According to Schein (1985), what are the levels that make up a company’s culture

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Answer: Artifacts, values, underlying assumptions, and behaviors

Q35: In order for a culture to generate success, what does it need to be

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Answer: Flexible and adaptive

Q36: Which of the following would a market-driven business most likely be

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Answer: Resourceful

Q37: According to Sir Allen Shepherd, what is the task of corporate leadership

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Answer: To apply energy and judgement to the corporate culture, to ensure its stability

Q38: According to Press (1990), what are the four discrete philosophies, upon which an organization’s culture can be based

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Answer: The resource focus, the shareholder focus, the people focus and the market focus

Q39: What or who are Reactors

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Answer: Organizations which follow industry trends

Q40: The potential for changing culture is affected by which of the following

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Answer: All of these–The strength and history of the existing culture How well the culture is understood The personality and beliefs of the strategic leader The extent of the strategic need

Q41: What form of strategy formation would be expected to be found in Defender organizations

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Answer: Formal planning

Q42: The culture of an organization

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Answer: None of these–Can be easily changed Can only be changed if adequate finance is available Can only be changed through fear and necessity Can only be changed through strong leadership and vision

Q43: The reason for Japan’s success, in business, is that in comparison to Western competitors

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Answer: They make better use of their resources

Q44: Which of these are not key stakeholders that an organization must seek to satisfy

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Answer: Managers

Q45: Who can be considered as the main stakeholders for London Zoo

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Answer: The government

Q46: What common, related problem do not-for-profit organizations, such as the British Museum and the National History Museum, often face

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Answer: Costs associated with repairs and maintenance

Q47: Which of the following is not a way in which organizations can behave more ethically, and more socially responsible

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Answer: By lowering prices to their targeted market to stimulate demand, and increasing profit, by increases in productivity, to meet customer demands

Q48: Which one of these would not be a problem, for an organization attempting to establish a unified vision or direction

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Answer: Conflicts between the product and its desired target market

Q49: Which of these questions is not addressed by an effective business model

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Answer: What do customers value today? Who are our customers? What does the organization produce? What will customers value in the future? –All are essential questions for effective business models

Q50: Which of the following would you not expect to see in a vision statement

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Answer: What the organization seeks to do, to reach desirable future states

Q51: Which, of the following, does Campbell (1989) suggest to be a dimension of valuable mission statements

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Answer: States the values of the organization

Q52: Which one of the following is not a form of non-price competition

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Answer: All of these increase non-price competition—Branding Focus Innovation Advertising

Q53: Which one of the following is not an aspect of the MOST analysis

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Answer: Organization

Q54: By what means should an organization measure its performance

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Answer: Economy, efficiency, and effectiveness

Q55: Which of these statements best describes all the benefits a company can derive, from analyzing its financial performance

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Answer: It can make comparisons with competitors, reveal lost profit and growth potential, emphasize possible dangers, and enable a study of trends and progress

Q56: Kets de Vries (1996) suggested that strategic leaders have two key roles to play. Which two roles are they

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Answer: Charismatic and Architectural

Q57: An organization can be considered successful, if it does which of the following

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Answer: Meets the needs and expectations of its shareholders

Q58: According to Caulkin (1995), the average life expectancy of successful UK companies is

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Answer: 40- 50 years

Q59: Which of the following applies, in terms of company admiration

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Answer: All of these—Fortunes can change very quickly Short term changes of fortune Polls on the themes of admiration are, themselves, not always consistent. The charismatic reputation of the leader

Q60: The objectives, of a not-for-profit organization, are often stated in terms of which of the following

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Answer: Resource efficiency

Q61: Strategy creation involves three strands. Which of the following is not one of the three stands

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Answer: Entrepreneurship

Q62: Which of the following is not one of the three elements of strategy creation

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Answer: Sales

Q63: What is an emergent strategy

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Answer: One with no specific objectives, that is fully flexible, using opportunism to ‘seize the main chance’ at the right moment

Q64: What must the strategic visionary leader avoid, in order to ensure the prolonged success of a strategy

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Answer: Becoming blinkered by the success of one strategy, to the detriment of others

Q65: What is an incremental strategy

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Answer: One that evolves, according to past experiences and changing circumstances

Q66: Name one of the strategic pressures that could weaken an unprepared organization

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Answer: Too many controls at the expense of flexibility

Q67: In military analogy, what is the outcome if, in strategy creation, the organization has both capability and intent

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Answer: Capacity

Q68: What is the key variable, in executing visionary strategy creation at the competitive strategy level

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Answer: Innovation

Q69: If unprepared, what strategic pressures are recognized as key factors that can weaken the organization

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Answer: Competitive and environmental pressures, and excessive control

Q70: What is said to be the key factor in maintaining organizational growth (e.g., Hurst 1995)

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Answer: Flexibility

Q71: Which of the following is the best reason, as to why strategic planning is still important today

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Answer: Because of slower economic growth, globalization and technological change

Q72: Which of the following is true for small businesses, in relation to strategic planning

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Answer: It belongs in all organizations

Q73: According to Ringbakk (1971), and Steiner (1972), which of the following should be avoided when creating a formal plan

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Answer: Seeing planning as a once-a-year ritual

Q74: What does SPACE stand for

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Answer: Strategic Position. Action Evaluation

Q75: What is the planning gap

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Answer: A concept that is used to clarify the extent of revenue, or profits gap, that might emerge if current strategies are left unchanged

Q76: Strategic leaders must ensure that long-term objectives, and strategies, have been determined, communicated, understood and supported by others. Which of the following conditions is likely to be the most suitable, to ensure objectives are supported and will remain valuable to the firm

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Answer: Feasible and achievable objectives, which account for changing conditions.

Q77: Corporate governance is a central issue to strategic leadership and shows, to employees and broader stakeholders, the ethical stance of those managing, and leading change, in the firm. Which of the following governance forms is likely to contradict an ethical standpoint, on the execution of leadership power

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Answer: Chairman holds the CEO position to expedite decision-making, and streamlining the executive board.

Q78: Which of these is a characteristic of ineffective leadership

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Answer: Few new initiatives being implemented.

Q79: Which of the following is not a characteristic of intrapreneurial organizations

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Answer: Continuous emphasis on efficiency, so that the organization can challenge its competitors with lower cost initiatives.

Q80: According to McClelland and Winter (1971), people are motivated by three needs. Which of the following is one of those needs

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Answer: Need to achieve.

Q81: Bridge et al. (1998) state that organizations must recruit, spot and use people that Pinchot (1985) labeled as ‘intrapreneurs’. Which of these statements is an adequate reflection of an intrapreneur

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Answer: People with entrepreneurial talent, who are motivated to use their abilities and initiative to do something on their own, but may not want to start their own business.

Q82: Which of these organizational conditions is not necessary to develop effective intrapreneurship

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Answer: Employee suggestion schemes.

Q83: Each entrepreneur is far from identical. Conceptually, it can be said, there are five types: hard, soft, ambitious, innovative and the designer-inventor. Which of the following is not a feature of a ‘hard’ entrepreneur.

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Answer: Engage others to persuade their vision.

Q84: Five different types of entrepreneur exist: hard, soft, ambitious, innovative, and the designer-inventor. Which of the following is not a feature of ambitious entrepreneurs

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Answer: Independent.

Q85: In terms of leadership, which of the following best describes Sam Walton of Wal-Mart

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Answer: Individual and visionary

Q86: Which of the following is one of the factors, related to the issue of the feasibility of a strategy

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Answer: Finance and other resource availability

Q87: Which, of the following, is not one of the contextual aspects that have a critical impact on strategic change

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Answer: Financial factors

Q88: Marketing current products, with possible modifications and range increases, is also known as what

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Answer: Market development

Q89: Retrenchment is

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Answer: When a company experiences declining profits, and makes cutbacks to improve efficiency

Q90: Which of the following is not a key theme in market development

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Answer: Developing new products for new markets and segments

Q91: When does horizontal integration occur

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Answer: When a firm acquires, or merges, with a major competitor

Q92: Sound strategic choices will always address four issues. Which of the following is one of those issues

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Answer: Financial returns

Q93: Which of the following is a consideration, when assessing the appropriateness of a strategy

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Answer: Resources

Q94: Which of the following is a consideration, when assessing the feasibility of a strategy

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Answer: Timing

Q95: Vickers (1965) stressed three contextual factors that have a critical impact on the decision to undertake strategic change. Which of the following is not one of these

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Answer: Machiavellian factors

Q96: In which of the following scenarios is a joint venture likely to be more attractive than acquisition

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Answer: Horizontal integration

Q97: A company, specializing in producing mass market cars, acquires a company which specializes in financial services. The new company can now offer financial services to its car purchasers. What form of diversification is this

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Answer: Unrelated

Q98: Which of these is not a factor causing weak synergy

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Answer: Making too many resources available to the integration program

Q99: Which of these is not one of Drucker’s (1982) five rules for successful acquisitions

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Answer: Value the people of the acquired company.

Q100: Ramsay (1987) argues there are four stages to effective acquisition strategies. Which of these is not one of those stages

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Answer: Develop a pre-acquisition implementation strategy.
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