Question 1

In order to survive in a globally competitive environment, organizations must adopt a broad strategy that gives them a sustainable competitive advantage.

Accepted Answer

Organizations need to adopt broad strategies that encompass various aspects such as innovation, cost leadership, and differentiation to maintain a sustainable competitive advantage in a globally competitive environment. This helps them to stand out, meet diverse customer needs, and adapt to changing market conditions.

Question 2

A core competency is something an organization does so well it can be viewed as a competitive advantage.

Accepted Answer

A core competency is a defining capability or advantage that distinguishes an organization from its competitors, often leading to a competitive advantage in the market.

Question 3

SWOT Analysis is the only step needed in the strategic planning process.

Accepted Answer

SWOT Analysis is an important tool in the strategic planning process, but it is not the only step. Strategic planning also involves defining the organization's mission, vision, setting goals and objectives, and developing strategies and plans to achieve them.

Question 4

An organization's vision is a specific measurable goal it tries to achieve.

Accepted Answer

An organization's vision is a broad, aspirational statement of the future state the organization aims to achieve, not a specific measurable goal.

Question 5

Change that is inflicted on employees will be resisted, but change that is engendered by employees who are involved in and prepared for it will be accepted and promoted.

Accepted Answer

When employees are involved in and prepared for change, they are more likely to accept and promote it because they feel a sense of ownership and understanding of the change process, reducing resistance.

Question 6

Even the best plan can do no good until it is effectively executed.

Accepted Answer

A plan, no matter how well-crafted, only becomes beneficial when it is put into action and executed effectively. Without implementation, a plan remains a theoretical concept without real-world impact.

Question 7

Asian countries have not yet adopted the concept of quality.

Accepted Answer

Many Asian countries have adopted and excelled in quality management practices, with Japan being a notable example for pioneering quality improvement methodologies like the Toyota Production System and Kaizen.

Question 8

Which of the following statements apply when developing a mission statement?&#10;A) The how-to statements.&#10;B) Describe the &#34;who, what, and where&#34; of the organization.&#10;C) Be brief, but comprehensive.&#10;D) Choose wording that is simple.

Accepted Answer

The answer of Which of the following statements apply when...

Question 9

Which of the following statements best describe the acronym SWOT?&#10;A) Specific, Witness, Opportunities, and Time.&#10;B) Single, Weaknesses, Occasion, and Tactics.&#10;C) Strengths, Weaknesses, Opportunities, and Threats.&#10;D) Strategic, Weaknesses, Objectives, and Tactics.

Accepted Answer

SWOT stands for Strengths, Weaknesses, Opportunities, and Threats, which is a framework used for analyzing an organization's internal and external environment.

Question 10

Strategic management is&#10;A) Creative thinkers who look at their business environment from a different perspective.&#10;B) Expansive and wasteful.&#10;C) Constantly seeking gaps in the marketplace that their companies can fill.&#10;D) Management that bases decisions within an ethical framework.

Accepted Answer

The answer of Strategic management is&#10;A) Creative thinkers who look...

Question 11

Which of the following statements is true concerning strategies used to execute a strategic plan?&#10;A) Organizations should communicate at all times.&#10;B) Consult with only managers.&#10;C) Adjust to administrative barriers.&#10;D) Be flexible and improvise.

Accepted Answer

The answer of Which of the following statements is true...

Question 12

Which of the following strategies is important when executing a strategic plan?&#10;A) Review the plan with customers.&#10;B) Identify advocates and resisters.&#10;C) Form an application task force.&#10;D) Activate the steering committee.

Accepted Answer

The answer of Which of the following strategies is important...

Question 13

To promote successful execution of strategies, organizations should undertake which of the following strategies?&#10;A) Eliminate administrative barriers&#10;B) Conduct a secondary SWOT analysis&#10;C) Hold a stakeholder's gap analysis&#10;D) Contract with an execution specialist

Accepted Answer

The answer of To promote successful execution of strategies, organizations...

Question 14

An advantage of organizations in the U.S. that compete globally is:&#10;A) Poor quality of Japanese companies.&#10;B) Strong entrepreneurial spirit.&#10;C) Government regulations.&#10;D) Protectionist sentiment.

Accepted Answer

The answer of An advantage of organizations in the U.S....

Deck 3: Strategic Management: Planning and Execution for Competitive Advantage