Scenario Planning Approach and Strategic Responses Quiz
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Questions and Answers

What is an example of a leader with an autocratic leadership style?

  • Ken Lay (correct)
  • Jack Ma
  • Sundar Pichai
  • Mark Zuckerberg

    • Which leader's style is described as Transformational & Visionary?

  • Elon Musk
  • Sundar Pichai
  • Jack Ma (correct)
  • Mark Zuckerberg

    • Which leader's style includes Passion, Purpose, and People as elements of success?

  • Elon Musk
  • Mark Zuckerberg (correct)
  • Sundar Pichai
  • Jack Ma

    • Who was involved in a major corporate fraud in U.S. history?

    <p>Ken Lay</p> Signup and view all the answers

    Strategic direction and Human capital focus are associated with which aspect of leadership?

    <p><strong>Leadership Execution</strong></p> Signup and view all the answers

    Unethical corporate culture was found in the leadership of which individual?

    <p>Martin Winterkorn</p> Signup and view all the answers

    What is Escalating Commitment in the context of decision-making?

    <p>Continuing to support a project even when it shows signs of potential failure.</p> Signup and view all the answers

    Which cognitive bias involves searching for information that supports existing beliefs?

    <p>Confirmation Bias</p> Signup and view all the answers

    What does Devil’s Advocacy involve in the context of decision-making?

    <p>Challenging the path forward with alternative viewpoints and offering criticisms.</p> Signup and view all the answers

    In decision-making, what is Representativeness characterized by?

    <p>Drawing conclusions based on small samples or anecdotes.</p> Signup and view all the answers

    Which concept involves making sense of complex problems using simple analogies?

    <p>Reason by Analogy</p> Signup and view all the answers

    What is Illusion of Control related to in decision-making?

    <p>individuals overestimate their ability to control events</p> Signup and view all the answers

    What is a key aspect of the Scenario Planning Approach?

    <p>Obtaining input from both top-down and bottom-up perspectives</p> Signup and view all the answers

    Which type of strategic initiative is characteristic of Bottom-Up approach to strategic emergence?

    <p>Autonomous actions by employees</p> Signup and view all the answers

    What is a distinguishing feature of System 1 decision-making mode?

    <p>Being error-prone with higher biases</p> Signup and view all the answers

    How does Serendipity influence strategic initiatives?

    <p>It introduces random events and surprises</p> Signup and view all the answers

    In the context of decision-making, what is a common issue associated with System 2 mode?

    <p>Experiencing greater likelihood of cognitive biases</p> Signup and view all the answers

    What differentiates Top-Down approach from Bottom-Up approach in strategic emergence?

    <p>Bottom-Up includes less formal and stylized management</p> Signup and view all the answers

    Which decision-making mode requires less energy and tends to be more automatic?

    <p>System 1</p> Signup and view all the answers

    Which aspect of leadership focuses on exercising psychological, social, and inspirational influence on company staff?

    <p>Leading</p> Signup and view all the answers

    What activity involves monitoring daily staff activities?

    <p>Supervision</p> Signup and view all the answers

    Which leadership activity includes seeking risk and change while appealing to the heart?

    <p>Raising expectations</p> Signup and view all the answers

    What does Strategic Leadership involve in terms of influence?

    <p>Formal authority and informal authority</p> Signup and view all the answers

    Which aspect of decision-making relates to making sense of complex problems using simple analogies?

    <p>Scenario planning approach</p> Signup and view all the answers

    In decision-making, what is Representativeness characterized by?

    <p>Searching for information that supports existing beliefs</p> Signup and view all the answers

    Which leadership activity involves motivating others ?

    <p>Empower</p> Signup and view all the answers

    What is the primary focus of the scenario planning approach in strategic management?

    <p>Preparing for multiple possible futures</p> Signup and view all the answers

    In strategic management, System 1 decision-making mode is characterized by:

    <p>Quick, intuitive, and automatic decisions based on gut feelings</p> Signup and view all the answers

    What is strategic emergence in the context of organizational strategy?

    <p>The spontaneous development of strategies through ongoing interactions and adaptations</p> Signup and view all the answers

    Which approach to strategy planning relies heavily on analyzing prices, costs, margins, and market demand?

    <p>Top Down Strategic Planning Approach</p> Signup and view all the answers

    What is a common shortcoming associated with the Top Down Strategic Planning Approach?

    <p>Limited ability to adapt to change</p> Signup and view all the answers

    In what way does System 2 decision-making differ from System 1 decision-making?

    <p>System 2 considers multiple options whereas System 1 is quick and automatic</p> Signup and view all the answers

    How does strategic emergence contribute to organizational adaptability?

    <p>'By allowing strategies to evolve organically based on ongoing interactions'</p> Signup and view all the answers

    What leadership style promotes open dialogue and quick decisions according to the text?

    <p>Autocratic</p> Signup and view all the answers

    Which leader's approach is associated with a laissez-faire leadership style?

    <p>Richard Wagoner</p> Signup and view all the answers

    Who is known for having a diplomatic and pragmatic leadership style?

    <p>Mark Zuckerberg</p> Signup and view all the answers

    Which leader's leadership style was autocratic and related to a major emission scandal?

    <p>Martin Winterkorn</p> Signup and view all the answers

    Which leader's autocratic style led to the bankruptcy of Lehman Brothers in 2008?

    <p>Richard Fuld</p> Signup and view all the answers

    'Passion, Purpose, People, Product & Partnerships' are elements of success associated with which leader?

    <p>Jack Ma</p> Signup and view all the answers

    'Revolutionary, Visionary & Entrepreneurship' are elements of success attached to which leader?

    <p>Sundar Pichai</p> Signup and view all the answers

    What is the primary characteristic of Escalating Commitment?

    <p>Continuing support despite signs of failure</p> Signup and view all the answers

    Which concept involves challenging the path forward with alternative viewpoints and criticisms?

    <p>Dialectic Inquiry</p> Signup and view all the answers

    In decision-making, which bias is related to searching for information to support existing beliefs?

    <p>Confirmation Bias</p> Signup and view all the answers

    What does Devil’s Advocacy primarily aim to do in decision-making?

    <p>Highlight potential issues</p> Signup and view all the answers

    Which tendency involves using simple analogies to understand complex problems?

    <p>Reason by Analogy</p> Signup and view all the answers

    What characterizes the Illusion of Control in decision-making?

    <p>Overestimating one's control over events</p> Signup and view all the answers

    Which behavior is associated with Groupthink in decision-making?

    <p>Coalescing opinions without critical evaluation</p> Signup and view all the answers

    What is a key element of Reason by Analogy?

    <p>Using simple comparisons to understand complex issues</p> Signup and view all the answers

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