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Strategic Management: Creating Competitive Advantages 8th Edition Test Bank

Strengthen your exam preparation with Strategic Management: Creating Competitive Advantages 8th Edition Test Bank, featuring a blend of theory, practical examples, and exam-focused exercises.

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1-1Copyright © 2016 McGraw-Hill Education. All rightsreserved. No reproduction or distribution without the prior written consent ofMcGraw-Hill Education.Chapter 01Strategic Management: Creating Competitive AdvantagesTrue / False Questions1.Hewlett-Packard's failure and success under the leadership first of Carly Fiorina and then of Mark Hurdwas said to be a direct result of the quality ofleadership of each of these CEOs. According to the text, thiswould be an example of the "romantic" perspective of leadership.TrueFalse2.Strategic management consists of the analyses, decisions, and actions an organization undertakes in orderto create and sustain competitive advantages.TrueFalse3.Strategic management is concerned with the analysis of strategic goals as stated in the vision, mission, andstrategic objectives of a firm.TrueFalse4.The three interrelated and principal activities of strategic management are: strategy analysis, strategyformulation, and strategy implementation.TrueFalse5.Strategic management isnotconcerned with how to create competitive advantage in the marketplace.TrueFalse6.Management innovations such as total quality, just-in-time, benchmarking, business process reengineering,and outsourcing are important, but not enough for building sustainable competitive advantage.TrueFalse7.Making trade-off decisions between effectiveness and efficiency is central to the practice of strategicmanagement.TrueFalse8.Only shareholders in a publicly held company arestakeholders because they are the only group that has astake in the success of the organization.TrueFalse9.Strategic management is only concerned with short-term perspectives.TrueFalse

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