Deck 2: Leading Strategically

Question 1

Learning and growth measures of performance relate to organizational efficiency.

Answer 1

False

Question 2

A CEO celebrity can serve as an intangible asset for the CEO's firm.

Answer 2

True

Question 3

Celebrity CEOs tend to receive higher compensation and job perks than their colleagues.

Answer 3

True

Question 4

Organizations need support from their key stakeholders, such as employees, owners, suppliers, and customers, in order to prosper.

Question 5

Setting organizational goals that are easy to reach encourages employees to work just hard enough to reach them.

Question 6

A well-formulated vision that is embraced by employees can give an organization an edge over its rivals.

Question 7

Hidden gems are CEOs who are well-known, but vilified.

Question 8

The most effective goals are those that are specific, measurable, aggressive, realistic, and time-bound.

Question 9

Well-regarded celebrity CEOs always have totally untarnished reputations.

Question 10

Scoundrels are those CEOs who are closely monitored and scrutinized by the media.

Question 11

An organization is more effective to the extent that its vision and its mission target employees effort in the same direction.

Question 12

The triple bottom line framework highlights areas such as social responsibility.

Question 13

A mission ignores the key elements of the organization's past and present and looks mostly towards the future.

Question 14

Customer measures of performance are commonly articulated and emphasized within an organization's annual report to shareholders.

Question 15

The triple bottom line framework ignores traditional organization profits as a measure of organizational performance.

Question 16

A vision captures the key elements of the organization's past and present.

Question 17

Internal business process measures of performance relate to customer attraction, satisfaction, and retention.

Question 18

Entrepreneurial thinking and doing is limited to those who begin in their garage with a new idea, financed by family members or personal savings.

Question 19

Thinking and behaving entrepreneurially can help a person's career.

Question 20

The balanced scorecard framework is designed to provide a "balance" between financial measures and other measures that are important for understanding organizational activities that lead to sustained, long-term performance.

Question 21

The common element in all entrepreneurs is that they do something new and can make something out of opportunities that others cannot.

Question 22

A charitable organization provides education to poor children. It aims at providing education to every child who cannot afford to pay for his or her own education. This is an example of the _____ of the organization.

A) vision
B) mission
C) dimension
D) scope
E) goal

Question 23

An automobile manufacturing company wants to be the first company in the world to launch a car that would require no human intervention to run on the road. The fact that the company has an explicit goal reflects the _____ dimension of a goal.

A) realistic
B) aggressive
C) measurable
D) time-bound
E) specific

Question 24

Innovativeness of an organization can be gauged by considering how many patents has the firm obtained.

Question 25

Excess of aggressiveness can undermine an organization's success.

Question 26

A proactive organization is one that waits for an opportunity to come its way rather than seek one.

Question 27

An organization's _____ describes the reasons for an organization's existence.

A) mission
B) dimension
C) scope
D) vision
E) goal

Question 28

Competitive aggressiveness is the tendency to avoid competitors rather than directly challenge them.

Question 29

A steel manufacturing company wants to be among the fortune 500 companies in the next one year. This is an example of the _____ of the company.

A) vision
B) mission
C) dimension
D) scope
E) goal

Question 30

Some large organizations promote autonomy by empowering a division to make its own decisions, set its own objectives, and manage its own budgets.

Question 31

Which of the following statements describes the "specific" aspect of a goal?

A) The goal that is achieved is quantifiable.
B) The achievement of the goal is feasible.
C) The goal is achieved through the creation of deadlines.
D) The goal is explicit rather than vague.
E) The goal presents a significant challenge to the organization.

Question 32

An automobile manufacturing company wants to be the first company in the world to launch a car that would require no human intervention to run on the road. It wants to do so by year 2020. The progress of the project can be easily calculated and assessed. The fact that this project can be easily assessed reflects the _____ dimension of a goal.

A) realistic
B) aggressive
C) measurable
D) time-bound
E) specific

Question 33

Skyway manufactures fighter jets. It aims to be the top aircraft manufacturing company in the world. This is an example of the _____ of the company.

A) vision
B) mission
C) dimension
D) scope
E) goal

Question 34

Which of the following statements describes the "measurable" aspect of a goal?

A) The goal that is achieved is quantifiable.
B) The achievement of the goal is feasible.
C) The goal is achieved through the creation of deadlines.
D) The goal is explicit rather than vague.
E) The goal presents a significant challenge to the organization.

Question 35

An organization that wants to encourage autonomy should foster a work environment with high levels of employee satisfaction and low levels of turnover.

Question 36

Innovations always require brand new skills thus making existing skills obsolete.

Question 37

An organization's _____ describes what the organization hopes to become in the future.

A) mission
B) dimension
C) scope
D) vision
E) value statement

Question 38

Those organizations that are successful in their innovation efforts tend to enjoy stronger performance than those that do not.

Question 39

An organization's _____ describes the narrower aims that organizations pursue in an effort to serve their visions and missions.

A) mission
B) dimension
C) scope
D) vision
E) goal

Question 40

Most entrepreneurs take action only after using planning and forecasting to reduce uncertainty.

Question 41

Which of the following statements describes the "time-bound" aspect of a goal?

A) The goal that is achieved is quantifiable.
B) The achievement of the goal is feasible.
C) The goal is achieved through the creation of deadlines.
D) The goal is explicit rather than vague.
E) The goal presents a significant challenge to the organization.

Question 42

Which of the following statements describes the "realistic" aspect of a goal?

A) The goal that is achieved is quantifiable.
B) The achievement of the goal is feasible.
C) The goal is achieved through the creation of deadlines.
D) The goal is explicit rather than vague.
E) The goal presents a significant challenge to the organization.

Question 43

_____ refers to how well a company is doing reaching its vision, mission, and goals.

A) Developmental counseling
B) Disparate impact
C) Strategic management
D) Trend analysis
E) Organizational performance

Question 44

A performance _____ is a benchmark used to make sense of an organization's standing along a performance measure.

A) count
B) referent
C) line
D) measure
E) mark

Question 45

The stock price of an oil and natural gas exploration concern is $100 per share. The value of the share is increasing by the day. This is an example of a(n) _____ measure used to assess organizational performance.

A) internal business process
B) public responsibility
C) financial
D) customer
E) learning and growth

Question 46

A bakery generally makes a sale of $4,000 every month. But during Christmas time it made a sale of $6,000. That is, it registered a 50% increase in its sales during Christmas. During the same time, other bakeries registered sales in excess of $10,000. The fact that other bakeries registered sales in excess of $10,000 can be used a yardstick to measure the performance of this particular bakery. This is referred to as the performance _____.

A) count
B) referent
C) line
D) measure
E) mark

Question 47

An automobile manufacturing company wants to be the first company in the world to launch a car that would require no human intervention to run on the road. It wants to do so by year 2020. The task presents a challenge to the engineering skills of the organization. The fact that the task presents a challenge to the organization reflects the _____ dimension of a goal.

A) realistic
B) aggressive
C) measurable
D) time-bound
E) specific

Question 48

Which of the following statements describes customer measures as a part of the balanced scorecard?

A) They relate to client attraction, satisfaction, and retention.
B) They focus on innovation and proceed with an understanding that strategies change over time.
C) They relate to organizational efficiency.
D) They focus on corporate social responsibility.
E) They relate to organizational effectiveness and profits.

Question 49

An automobile manufacturing company wants to be the first company in the world to launch a car that would require no human intervention to run on the road. It wants to do so by year 2020. The company has the required technology and the required finances to come up with such a car. Therefore, the plan seems to be feasible. The fact that the plan is viable and practicable reflects the _____ dimension of a goal.

A) realistic
B) aggressive
C) measurable
D) time-bound
E) specific

Question 50

A bakery generally makes a sale of $4,000 every month. But during Christmas time it made a sale of $6,000. That is, it registered an increase in its sales. The sales factor is a performance _____ to judge organizational performance.

A) count
B) referent
C) line
D) measure
E) mark

Question 51

A take-out restaurant specializing in pizzas completes the order for a single pizza in 15 minutes. The employees of the restaurant are trained to deliver orders within the specified period. This is an example of a(n) _____ measure used to assess organizational performance.

A) internal business process
B) public responsibility
C) financial
D) customer
E) learning and growth

Question 52

Which of the following statements describes the "aggressive" aspect of a goal?

A) The goal that is achieved is quantifiable.
B) The achievement of the goal is feasible.
C) The goal is achieved through the creation of deadlines.
D) The goal is explicit rather than vague.
E) The goal presents a significant challenge to the organization.

Question 53

Which of the following statements describes internal business process measures as a part of the balanced scorecard?

A) They relate to client attraction, satisfaction, and retention.
B) They focus on innovation and proceeds with an understanding that strategies change over time.
C) They relate to organizational efficiency.
D) They focus on corporate social responsibility.
E) They relate to organizational effectiveness and profits.

Question 54

A law firm wants to increase its client strength. Therefore, it has promised to offer free service to senior citizens. This has helped the organization gain new clients, as friends and relatives of the senior citizens having started using this law firm's services. Good legal counseling has helped it to retain its clients. This is an example of _____ measures used to assess organizational performance.

A) internal business process
B) public responsibility
C) financial
D) customer
E) learning and growth

Question 55

An automobile manufacturing company wants to be the first company in the world to launch a car that would require no human intervention to run on the road. It wants to do so by year 2020. The fact that the company has a set target date to complete the task reflects the _____ dimension of a goal.

A) realistic
B) aggressive
C) measurable
D) time-bound
E) specific

Question 56

Which of the following statements describes learning and growth measures as a part of the balanced scorecard?

A) They relate to client attraction, satisfaction, and retention.
B) They focus on innovation and proceed with an understanding that strategies change over time.
C) They relate to organizational efficiency.
D) They focus on corporate social responsibility.
E) They relate to organizational effectiveness and profits.

Question 57

_____ refers to an approach to assessing performance that targets managers' attention on four areas: financial, customer, internal business process, and learning and growth.

A) SWOT analysis
B) PESTLE analysis
C) The balanced scorecard
D) The triple bottom line
E) EFQM Model

Question 58

The management of a football club regularly encourages and funds its coaches and trainers to take courses on sports' science. They believe that the application of scientific principles and techniques helps its players to improve their performance on the field. This is an example of a(n) _____ measure used to assess organizational performance.

A) internal business process
B) public responsibility
C) financial
D) customer
E) learning and growth

Question 59

Which of the following statements describes financial measures as a part of the balanced scorecard?

A) They relate to client attraction, satisfaction, and retention.
B) They focus on innovation and proceeds with an understanding that strategies change over time.
C) They relate to organizational efficiency.
D) They focus on corporate social responsibility.
E) They relate to organizational effectiveness and profits.

Question 60

Performance _____ refers to a metric such as profits, stock price, and sales along which organizations can be gauged.

A) count
B) referent
C) line
D) measure
E) mark

Question 61

Which of the following statements describes the term "autonomy" as a dimension of entrepreneurial orientation?

A) It refers to the tendency to anticipate and act on future needs.
B) It refers to the tendency to pursue creativity and experimentation.
C) It tells whether an individual or team of individuals within an organization has the freedom to develop an entrepreneurial idea and then see it through to completion.
D) It refers to the tendency to intensely and directly challenge competitors.
E) It refers to the tendency to engage in bold rather than cautious actions.

Question 62

_____ refer to CEOs possessing both fame and strong reputations.

A) Backseat drivers
B) Icons
C) Silent killers
D) Hidden gems
E) Scoundrels

Question 63

_____ refer to CEOs displaying high levels of relative fame but low levels of reputation.

A) Backseat drivers
B) Icons
C) Silent killers
D) Hidden gems
E) Scoundrels

Question 64

_______ refer(s) to how well a company is doing reaching its vision, mission, and goals.

A) Organizational performance
B) Performance referent
C) Profit margin growth
D) S.M.A.R.T performance metrics
E) Competitive growth measures

Question 65

All the individuals were mentioned as examples of entrepreneurs in Chapter 2 except:

A) Michael Dell
B) Howard Schultz
C) Bill Gates
D) Mark Zuckerberg
E) Thomas Jefferson

Question 66

Which of the following statements describes the term "proactiveness" as a dimension of entrepreneurial orientation?

A) It refers to the tendency to anticipate and act on future needs.
B) It refers to the tendency to pursue creativity and experimentation.
C) It tells whether an individual or team of individuals within an organization has the freedom to develop an entrepreneurial idea and then see it through to completion.
D) It refers to the tendency to intensely and directly challenge competitors.
E) It refers to the tendency to engage in bold rather than cautious actions.

Question 67

Which of the following statements describes the term "risk-taking" as a dimension of entrepreneurial orientation?

A) It refers to the tendency to anticipate and act on future needs.
B) It refers to the tendency to pursue creativity and experimentation.
C) It tells whether an individual or team of individuals within an organization has the freedom to develop an entrepreneurial idea and then see it through to completion.
D) It refers to the tendency to intensely and directly challenge competitors.
E) It refers to the tendency to engage in bold rather than cautious actions.

Question 68

_____ are CEOs who lack fame but possess positive reputations.

A) Backseat drivers
B) Icons
C) Silent killers
D) Hidden gems
E) Scoundrels

Question 69

What is the Starbucks mission statement?

A) Bringing the best coffee experience to everyone they touch and being the best in everything they do.
B) To inspire and nurture the human spirit - one person, one cup, and one neighborhood at a time.
C) Build an empire known for providing top-quality coffee in coffee houses aimed at captivating memorable customer experiences.
D) Exceed the expectations of coffee enthusiasts worldwide and create a community for individual expression by focusing on people, products, and business excellence.
E) To create the world's greatest coffee experience and make it universally accessible to all neighborhoods.

Question 70

The triple bottom line emphasizes the three main tenets:

A) People, planet, and profits
B) Community, profitability, and reasonable wages
C) Humanity, history, and responsibility
D) Environment, economic, and executive achievement
E) None of these

Question 71

The four dimensions that make up the balanced scorecard include:

A) Financial, customer, external business process, and learning and growth
B) Financial, customer, internal business process, and learning and growth
C) Specific, measurable, aggressive, realistic, and time-bound
D) Liquidity, leverage, portability, and cashflow growth
E) None of the above

Question 72

The _____ aspect of a performance measuring framework makes sure that organizations act in a way that promotes environmental sustainability.

A) profit
B) place
C) planet
D) people
E) promotion

Question 73

A supermarket purchases its vegetables from local farmers. It also ensures that it purchases the vegetables from farmers located closest to the supermarket so that the distance covered in transport is minimal. This reduces pollution. The supermarket also earns good profits. The fact that the supermarket purchases its vegetables from local farmers and demonstrates social responsibility reflects the _____ aspect of the triple bottom line framework.

A) promotion
B) planet
C) people
D) profit
E) place

Question 74

Which of the following statements describes the term "innovativeness" as a dimension of entrepreneurial orientation?

A) It refers to the tendency to anticipate and act on future needs.
B) It refers to the tendency to pursue creativity and experimentation.
C) It tells whether an individual or team of individuals within an organization has the freedom to develop an entrepreneurial idea and then see it through to completion.
D) It refers to the tendency to intensely and directly challenge competitors.
E) It refers to the tendency to engage in bold rather than cautious actions.

Question 75

Which of the following statements describes the term "competitive aggressiveness" as a dimension of entrepreneurial orientation?

A) It refers to the tendency to anticipate and act on future needs.
B) It refers to the tendency to pursue creativity and experimentation.
C) It tells whether an individual or team of individuals within an organization has the freedom to develop an entrepreneurial idea and then see it through to completion.
D) It refers to the tendency to intensely and directly challenge competitors.
E) It refers to the tendency to engage in bold rather than cautious actions.

Question 76

Entrepreneurial _____ is a term that refers to the processes, practices, and decision-making styles of organizations that act entrepreneurially.

A) orientation
B) measure
C) analysis
D) culture
E) referent

Question 77

A supermarket purchases its vegetables from local farmers. It also ensures that it purchases the vegetables from farmers located closest to the supermarket so that the distance covered in transport is minimal. This reduces pollution. The supermarket also earns good profits. The fact that the supermarket tries to make a reasonable contribution to lessening pollution reflects the _____ aspect of the triple bottom line framework.

A) promotion
B) planet
C) people
D) profit
E) place

Question 78

The _____ aspect of a performance measuring framework makes sure that the actions of an organization are socially responsible.

A) profit
B) place
C) planet
D) people
E) promotion

Question 79

_____ refer to CEOs who are overlooked and ignored sources of harm to their firms.

A) Backseat drivers
B) Icons
C) Silent killers
D) Hidden gems
E) Scoundrels

Question 80

_____ refers to an approach to assessing performance that emphasizes the concerns of people and the planet in addition to profit.

A) SWOT analysis
B) PESTLE analysis
C) The balanced scorecard
D) The triple bottom line
E) EFQM Model