Deck 2: Leading Strategically

Question 1

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

Answer 1

True

Question 2

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

Answer 2

True

Question 3

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.

Answer 3

True

Question 4

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

Question 5

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

Question 6

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

Question 7

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 8

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

Question 9

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

Question 10

Well-regarded celebrity CEOs always have totally untarnished reputations.

Question 11

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

Question 12

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

Question 13

Setting easy to reach organizational goals encourages employees to work just

Question 14

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

Question 15

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

Question 16

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

Question 17

Learning and growth measures of performance relate to organizational efficiency.

Question 18

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

Question 19

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

Question 20

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

Question 21

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

Question 22

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

Question 23

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 24

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 25

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

Question 26

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

Question 27

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

Question 28

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

Question 29

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

Question 30

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 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

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 33

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 34

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

Question 35

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

Question 36

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

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

Question 37

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 38

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 39

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 40

Excess of aggressiveness can undermine an organization's success.

Question 41

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 42

_____ 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 43

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 44

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

A)They relates 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 45

The management of a football club regularly encourages and funds its coaches and trainers to take courses on sports' science.They believes 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 46

_____ 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 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 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 48

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 49

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 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 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 51

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 52

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 53

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 54

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 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 55

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 56

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 57

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 58

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 59

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 60

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 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 61

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 62

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 63

_____ 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 64

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 65

_____ are CEOs who lack fame but possess positive reputations.

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

Question 66

_____ 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 67

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 68

What is the difference between performance measures and performance referents?

Question 69

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 70

What is a balanced scorecard?

Question 71

What risks does an organization entail by employing a celebrity CEO?

Question 72

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 73

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 74

Explain the concept of learning and growth measures.Give an example.

Question 75

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 76

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 77

_____ 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

Question 78

_____ refer to CEOs possessing both fame and strong reputations.

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

Question 79

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 80

What are the benefits and risks associated with celebrity for the CEO?