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 (B)</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> (A)</p> Signup and view all the answers

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

<p>Martin Winterkorn (D)</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. (C)</p> Signup and view all the answers

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

<p>Confirmation Bias (B)</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. (C)</p> Signup and view all the answers

In decision-making, what is Representativeness characterized by?

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

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

<p>Reason by Analogy (D)</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 (C)</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 (B)</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 (B)</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 (A)</p> Signup and view all the answers

How does Serendipity influence strategic initiatives?

<p>It introduces random events and surprises (D)</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 (A)</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 (B)</p> Signup and view all the answers

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

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

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

<p>Leading (A)</p> Signup and view all the answers

What activity involves monitoring daily staff activities?

<p>Supervision (A)</p> Signup and view all the answers

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

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

What does Strategic Leadership involve in terms of influence?

<p>Formal authority and informal authority (A)</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 (C)</p> Signup and view all the answers

In decision-making, what is Representativeness characterized by?

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

Which leadership activity involves motivating others ?

<p>Empower (B)</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 (A)</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 (D)</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 (C)</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 (C)</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 (D)</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 (C)</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' (D)</p> Signup and view all the answers

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

<p>Autocratic (C)</p> Signup and view all the answers

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

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

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

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

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

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

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

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

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

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

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

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

What is the primary characteristic of Escalating Commitment?

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

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

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

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

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

Which tendency involves using simple analogies to understand complex problems?

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

What characterizes the Illusion of Control in decision-making?

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

Which behavior is associated with Groupthink in decision-making?

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

What is a key element of Reason by Analogy?

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

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