Question 1

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

Accepted Answer

Self-esteem is not considered a characteristic of emotional intelligence. Emotional intelligence involves the ability to recognize and regulate one's own emotions, understand and empathize with others' emotions, and communicate effectively with others. Self-esteem refers to an individual's overall evaluation and confidence in their own worth or abilities, and while it can certainly be beneficial to emotional well-being, it is not directly related to emotional intelligence.

Question 2

Between 2005 and 2011,Blue Drink Company increased its net profit from $5 million to $25 million.It was able to do this by expanding its product line to include a wider variety of drink flavors as well as introducing a low-calorie line.The $20 million increase in net profit between 2005 and 2011 can be referred to as which of the following?

Accepted Answer

The $20 million increase in net profit between 2005 and 2011 is referred to as profit growth. This is because the company's net profit increased over time due to its strategic decision to expand its product line and introduce a low-calorie line, resulting in increased sales and revenue. Emergent strategy refers to a strategy that emerges over time rather than being pre-planned, shareholder value refers to the value created for shareholders through the company's activities, profitability turnover refers to the rate at which a company generates profits from its assets, and risk capital refers to capital that is invested in high-risk ventures.

Question 3

Good strategic leaders

Accepted Answer

Good strategic leaders understand the importance of delegation and empowerment. They trust their subordinates and give them the authority and resources they need to achieve their goals. This not only improves the productivity of the team, but also shows that the leader has confidence in their subordinates' abilities.

Answer: D 
 Good strategic leaders must maintain a strong sense of control over the organization to ensure that everyone is working towards the same goals. However, this does not necessarily mean exercising power over everyone. Rather, it means ensuring that everyone is aligned with the organization's vision, mission, and values, and that they have a clear understanding of their role and responsibilities.

B and C are not good choices because good strategic leaders do not control all facets of decision making and do not always make decisions without consulting others. E is also not a good choice because inconsistency is generally not desirable in leadership.

Question 4

An emergent strategy is

Accepted Answer

An emergent strategy is an unplanned response to unforeseen circumstances. It emerges through a process of adapting to changing situations or opportunities. It is not the result of a planned strategy or careful top-down planning mechanisms, nor is it necessarily the same as a realized strategy. While it may involve a group response to a problem area, this is not necessarily a defining characteristic of an emergent strategy.

Question 5

When Nada's boss informed her that she must work this weekend,her scheduled weekend off,Nada felt furious.Instead of acting on her impulses and yelling at her boss,Nada decided to have a calm conversation with him concerning her days off.Nada utilized which of Goleman's aspects of emotional intelligence?

Accepted Answer

Nada used self-regulation by managing her emotions and choosing to have a calm conversation with her boss instead of acting on her anger.

Question 6

More people seem to fear a snake bite than a dog bite,and yet statistically one is more likely to be bitten by a dog than by a snake.This represents which of the following cognitive biases?

Accepted Answer

The availability error is when people make judgments based on how easily something comes to mind. In this case, people may have a heightened fear of snake bites due to the attention they receive in the media or the stories they have heard, even though they are statistically less likely than dog bites.

Question 7

Systematic errors in the decision-making process are caused by

Accepted Answer

Systematic errors, also known as biases, are caused by cognitive biases on the part of the decision-makers. While inadequate information, information overload, and poor data collection procedures can contribute to decision-making errors, they are not necessarily systematic in nature.

Question 8

The American Red Cross,the Ford Foundation,and the American Civil Liberties Union can all be classified as

Accepted Answer

The American Red Cross, the Ford Foundation, and the American Civil Liberties Union are all nonprofit enterprises, meaning their purpose is not to generate profits for owners or shareholders but rather to serve a social purpose.

Question 9

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

Accepted Answer

The answer of Differentiate between general and functional managers.Provide an...

Question 10

Louis is a human resources manager at XYZ Company.He is responsible for hiring,retaining,and compensating employees.Louis can best be descibed as a(n)

Accepted Answer

Louis is responsible for specific functional tasks of human resources management within the organization. Therefore, he can be best described as a functional-level manager.

Question 11

A component of strategy implementation is

Accepted Answer

Designing the best organization structure, culture, and control systems to put a strategy into action is a key component of strategy implementation. While analyzing the macroeconomic environment of the company and answering the question "What is our business?" can be important aspects of strategy development, they are not part of strategy implementation. Enumerating the number and kind of periodic reports that must be submitted by functional-level managers may be important for monitoring progress and performance, but it is not a primary component of strategy implementation. Therefore, the best choice is A.

Question 12

At the law offices of Hughes & Hughes,employees are encouraged to recycle cups used at the water cooler and turn off office lights when not in use.John Hughes,the owner and manager of the firm,leads by example and often completes his paperwork using natural light.John utilizes which of the following characteristics of good business leaders?

Accepted Answer

John Hughes exhibits commitment by leading by example when it comes to environmentally-friendly practices in the workplace.

Question 13

Julie is the marketing manager at Mountain Productions,Inc.When Sarah,one of her subodinates,told Julie that her father had passed away,Julie felt sympathy for Sarah because she could relate to what she was experiencing; Julie had lost her father 6 months prior.Julie felt _______ for Sarah.

Accepted Answer

Julie is able to relate to Sarah's experience because she has gone through a similar situation herself. This shows empathy, which is the ability to understand and share the feelings of another person. A is incorrect because there is no indication that Julie made an error in judgment regarding Sarah's situation. B, C, and D are also incorrect because they do not accurately describe Julie's response to Sarah's situation.

Question 14

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 15

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 16

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

Accepted Answer

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

Question 17

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 18

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 19

Zappos.com executives have aligned the entire organization around one purpose: "to provide the best customer service possible." This statement can best be described as which of the following?

Accepted Answer

The statement "to provide the best customer service possible" represents the company's mission, which defines the organization's purpose and primary objectives.

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