Question 1

If competition,market turbulence,and accelerating technological change are increasing the pace at which firms' competitive advantage is eroded,to sustain competitive advantage companies need to:

Accepted Answer

The answer of If competition,market turbulence,and accelerating technological change are...

Question 2

Among industries based upon digital technologies,a key factor that determines the industry's structure and sources of its competitive advantage are whether:

Accepted Answer

The presence of network externalities, where the value of a product or service increases as more people use it, can significantly impact the structure and competitive advantage of an industry based on digital technologies. It can lead to winner-takes-all dynamics and create high barriers to entry for new firms. The other options listed may also have some influence, but network externalities are the most significant factor.

Question 3

Complementarity research should not be used by a company as an excuse for not adopting a best practice such as a "six-sigma" quality management systems "lean production" manufacturing processes,or a "360-degree" employee appraisal system.

Accepted Answer

The answer of Complementarity research should not be used by...

Question 4

Achieving social legitimacy requires that businesses should:

Accepted Answer

The answer of Achieving social legitimacy requires that businesses should:
...

Question 5

The main impact of digital technology on the competitive structure of industries during the 21^st century has been:

Accepted Answer

Digital technology has enabled the rise of large, market-dominating digital giants like Google, Amazon, and Facebook, which have significant control over their respective markets.

Question 6

Research into leadership generally supports the view that complex organizations facing uncertain environments require leaders that are decisive decision makers rather than humble;empathetic individuals endowed with social and emotional intelligence.

Accepted Answer

Research actually supports the opposite view - that complex organizations facing uncertain environments require leaders that are humble, empathetic individuals endowed with social and emotional intelligence.

Question 7

As strategy becomes increasingly viewed as the management of a portfolio of options,the emphasis of strategy formulation shifts:

Accepted Answer

The shift in strategy formulation towards managing a portfolio of options emphasizes creating opportunities rather than making fixed resource commitments, allowing for more flexibility and adaptability in strategic decision-making.

Question 8

The first 16 years of the 21st century have been characterized by unprecedented turbulence in the global economy,politics,and society.This turbulence is likely to continue into the future because:

Accepted Answer

The option C accurately summarizes the reasons behind the continuing turbulence in the global economy, politics, and society. The increased global interconnectedness amplifies disturbances, and the declining global influence of the US implies a lack of leadership in managing these disturbances. Moreover, the option also indicates that various international institutions have become ineffective. Therefore, C is the best answer.

Question 9

The most effective remedy for the problems that have arisen from top managements' pursuit of shareholder value is likely to be:

Accepted Answer

The most effective remedy for the problems arising from top management's pursuit of shareholder value is to recognize that management should focus on the underlying drivers of long-run profitability rather than the stock market capitalization. Managers should place emphasis on sustainable performance and enhanced stakeholder value.

Question 10

A major implication of corporate scandals,inequality,and environmental sustainability implies that company executives need for firm strategy to pay greater attention to:

Accepted Answer

The answer of A major implication of corporate scandals,inequality,and environmental...

Question 11

Applications of complexity thinking to management suggest that top management should set rules governing the interaction of organizational members and their expected behaviour,and relinquish direct supervisory control

Accepted Answer

Complexity thinking emphasizes self-organizing, emergent behavior within organizations. To facilitate this, top management should provide a framework of rules and standards that guide organizational behavior, but should not micromanage or exert direct supervisory control over every aspect of organizational activity. This allows for greater flexibility and adaptability in response to changing conditions and emergent opportunities.

Question 12

The first two decades of the 20^th and 21^st centuries were similar in terms of factors that were reshaping the business environment.The most significant of these common factors were:

Accepted Answer

The common factor between the two decades was the rapid advancement and increasing importance of technology. While the specific types of technologies differed, both decades were marked by significant changes in the way people communicated and traveled.

Question 13

According to systems theory,high levels of interconnectedness can lead to:

Accepted Answer

According to systems theory, high levels of interconnectedness can lead to a phenomenon called "amplification of effects." This means that small initial disturbances can become magnified and have unpredictable and sometimes catastrophic effects on the system as a whole. This is because a change or disruption in one part of the system can have ripple effects and impact other interconnected components. Thus, choice D is the best option as it reflects this potential outcome of high levels of interconnectedness.

Question 14

The complementarity of management practices implies that the effectiveness of a particular management practice depends upon how it fits with all the other management practices of the company.

Accepted Answer

The statement accurately reflects the concept of complementarity of management practices, which suggests that the impact of a particular practice on performance is contingent on its alignment with other practices within the organization.

Question 15

In 2016,the ratio of US CEO compensation to that of US production workers averaged about:

Accepted Answer

In 2016, the ratio of US CEO compensation to that of US production workers averaged about 260. This figure highlights the significant income disparity between top executives and average workers in the United States.

Question 16

Complexity theory predicts that complex,adaptive systems rarely have the capacity to self-organize-to avoid chaos hierarchical control is essential.

Accepted Answer

Complexity theory suggests that complex, adaptive systems have the ability to self-organize and exhibit emergent behavior without the need for hierarchical control. This is known as self-organization or self-structuring. However, in some cases, hierarchical control may be necessary to steer the system towards a desired outcome or to prevent chaos.

Question 17

The principal impact of digital technology on business during the next decade is likely to be:

Accepted Answer

Digital technology will increasingly involve external intelligence, meaning that machines will make decisions and engage in transactions on behalf of businesses. This will impact industries that rely on manual labor, creating a shift towards more automated practices. It also has implications for data privacy and security, as businesses will need to ensure that their machines are operating ethically and safely. While the other options may also be impacted by digital technology, they are less likely to have as significant an impact as the rise of external intelligence.

Question 18

Real options theory may change strategic management by:

Accepted Answer

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Question 19

If companies are to put in place the capabilities needed to build multiple layers of competitive advantage,their organizational structures need to become more complex.

Accepted Answer

Building multiple layers of competitive advantage requires a more complex organizational structure to support and manage the various capabilities needed. This could include cross-functional teams, specialized departments, and integrated information systems.

Question 20

The declining public support for market capitalism during the 21^st century is the result of:

Accepted Answer

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Quiz 15: Current Trends in Strategic Management