Question 1

Which of the following is not a characteristic of emotional intelligence?

Accepted Answer

Escalating commitment is not a characteristic of emotional intelligence. Emotional intelligence refers to the ability to understand and manage one's own emotions, as well as to recognize and respond appropriately to the emotions of others. Self-awareness, self-regulation, empathy, and social skills are all important components of emotional intelligence. Escalating commitment, on the other hand, refers to the tendency to continue with a course of action even when it is no longer rational or effective.

Question 2

Which of the following cognitive biases refers to the fact that decision makers who have strong pre-existing beliefs about the relationship between two variables tend to make decisions on the basis of these beliefs,even when presented with evidence that their beliefs are wrong?

Accepted Answer

The given cognitive bias is known as prior hypothesis bias, where decision makers rely on their pre-existing beliefs even when evidence proves them wrong. Reasoning by analogy refers to making decisions based on past experiences or similar situations. Illusion of control occurs when an individual overestimates their ability to control a situation. Escalating commitment happens when individuals continue to invest in a failing decision to justify their initial investment. Representativeness bias is the tendency to make decisions based on stereotypes or generalizations instead of specific evidence.

Question 3

Select at least three of the cognitive biases that individual decision makers experience.Then describe the bias and a real or hypothetical situation for each of them,explaining how the bias is evident in the situation.

Accepted Answer

The answer of Select at least three of the cognitive...

Question 4

Edward Wrapp's ideas about the astuteness of power suggest that successful strategic managers:

Accepted Answer

Edward Wrapp's ideas about astuteness of power suggest that successful strategic managers act as members of a coalition or as its democratic leaders rather than as dictators. Being a democratic leader means that the manager listens to the ideas and opinions of others in the organization and works collaboratively towards achieving the organization's goals. This approach allows for more diverse perspectives and practical solutions to emerge.

Question 5

If a company focuses on its customers and creates incentives for employee productivity,the company will likely be successful in delivering shareholder value.

Accepted Answer

By focusing on the customers, the company can ensure customer satisfaction, loyalty, and increased sales. Incentivizing employee productivity can enhance efficiency, quality, and innovation, resulting in cost savings, higher revenue, and competitive advantage. All these factors can contribute to delivering shareholder value, which refers to the creation of wealth for the company's owners through stock price appreciation, dividends, or other financial returns.

Question 6

Holly owns a landscape company and is thinking about expanding her services to include outdoor water features (waterfalls,streams,ponds).If,before making this decision,she looks at the experience of similar firms that have added outdoor water features,she is employing:

Accepted Answer

By looking at the experience of similar firms that have added outdoor water features, Holly is taking an outside view. She is gathering data and information from external sources to inform her decision-making process, rather than relying solely on her own internal biases or assumptions. This approach can help to mitigate cognitive biases and the illusion of control, which may influence her decision-making if she were only considering her own perspective. Devil's advocacy and dialectic inquiry both involve intentionally challenging and questioning assumptions and arguments, which does not seem to be the primary focus of Holly's approach in this case.

Question 7

Karen,a manager at Libra Inc,had noticed that her subordinates were experiencing a lot of stress.After conducting a meeting with her subordinates,Karen realized that they were extremely overworked and intimidated by close deadlines.Determined to reduce their stress,she introduced a new process that eliminated time-consuming activities and gave them more flexibility for work timelines.This action taken by Karen demonstrates which of the following aspects of emotional intelligence?

Accepted Answer

Karen's action demonstrates empathy, as she recognized and responded to her subordinates' feelings and stress by making changes to reduce their workload and deadline pressures.

Question 8

Which of the following is not a cognitive bias?

Accepted Answer

Ivory tower thinking is not a recognized cognitive bias. It refers to a person who is isolated or disconnected from the realities of the world, often due to their privilege or academic pursuits. The other options listed are all recognized cognitive biases.

Question 9

Identify the levels of strategic managers and discuss their role in the strategic management process.

Accepted Answer

The answer of Identify the levels of strategic managers and...

Question 10

Ralph is a well-liked manager at Aries Inc.He eloquently communicates the goals of the organization and has been successful in making the organization's vision part of its culture.Which of the following characteristics of good strategic leaders can be observed in Ralph?

Accepted Answer

Ralph's ability to eloquently communicate the organization's goals and vision demonstrates this characteristic of good strategic leaders. None of the other options are applicable.

Question 11

Identify and discuss the criticisms of the traditional strategic planning process and why it is useful to view strategy as an emergent process.

Accepted Answer

The answer of Identify and discuss the criticisms of the...

Question 12

Describe at least three characteristics of strong strategic leaders.Explain how each of the three characteristics would help motivate and lead an organization's personnel.

Accepted Answer

The answer of Describe at least three characteristics of strong...

Question 13

Mike,the CEO of a retail chain,wanted to keep costs low.To set an example for others,he drove his own car and furnished his office with plain,metal desks.In this case,Mike was displaying:

Accepted Answer

Mike's actions show that he is committed to keeping costs low, and he is leading by example.

Question 14

Jeffrey Pfeffer believes that a manager's power comes from his or her:

Accepted Answer

According to Jeffrey Pfeffer, a manager's power comes from their control over important organizational resources, such as budgets, staff, technology, and information. This control allows them to influence decision-making and shape the direction of the organization. Prioritizing the company's well-being over personal well-being or having a good raport with senior management may be advantageous, but it does not necessarily give a manager power or influence within the organization. Being empathic and cutting costs are important traits or actions a manager may possess, but they do not necessarily give them power.

Question 15

Good strategic leaders:

Accepted Answer

Good strategic leaders understand the importance of delegation and empowering subordinates. This allows for more ideas and input in decision-making and creates a culture of trust and collaboration within the organization. Controlling all facets of decision-making and making decisions without consulting others can limit creativity and hinder progress. Authoritarian exercise of power can also stifle innovation and create a negative work environment. Inconsistency in approach can lead to confusion and a lack of direction.

Question 16

Explain the difference between general and functional managers.Provide an example of each from your college or university.

Accepted Answer

The answer of Explain the difference between general and functional...

Question 17

Rebecca,a manager,was very annoyed after noticing several negligent errors in a critical report.However,while talking to the subordinate who created the report,Rebecca was calm and composed; she did not act impulsively and lose her temper.Which of the following aspects of emotional intelligence is illustrated in this scenario?

Accepted Answer

Self-regulation is the aspect of emotional intelligence that involves managing one's emotions and behaviors in response to different situations. In this scenario, Rebecca demonstrates self-regulation by controlling her emotions and not acting impulsively despite feeling annoyed.

Question 18

Explain the formal strategic planning process.Name each step in the process and describe the specific activities included in each step and the relationship between the steps.

Accepted Answer

The answer of Explain the formal strategic planning process.Name each...

Question 19

Describe the steps involved in the formal strategic planning process.

Accepted Answer

The answer of Describe the steps involved in the formal...

Question 20

Evidence suggests that the best way to maximize the long-run return to shareholders is to focus on:

Accepted Answer

Evidence indicates that customer satisfaction and fair treatment of employees lead to increased long-term profitability and shareholder value. By meeting customer needs, companies can build customer loyalty and increase demand for their products or services. Treating employees well can lead to higher productivity and lower turnover rates, ultimately resulting in lower costs and higher profits. Focusing solely on increasing prices, compensating managers well, or maximizing employee overtime may provide short-term gains, but can have negative effects on customer satisfaction and employee morale, ultimately leading to lower long-term profitability. Research and development goals can also be important for long-term success, but they should be focused on meeting customer needs and improving the company's competitive position in the marketplace.

Quiz 1: Strategic Leadership: Managing the Strategy Making Process for Competitive Advantage