48 Questions
What is an example of a leader with an autocratic leadership style?
Ken Lay
Which leader's style is described as Transformational & Visionary?
Jack Ma
Which leader's style includes Passion, Purpose, and People as elements of success?
Mark Zuckerberg
Who was involved in a major corporate fraud in U.S. history?
Ken Lay
Strategic direction and Human capital focus are associated with which aspect of leadership?
Leadership Execution
Unethical corporate culture was found in the leadership of which individual?
Martin Winterkorn
What is Escalating Commitment in the context of decision-making?
Continuing to support a project even when it shows signs of potential failure.
Which cognitive bias involves searching for information that supports existing beliefs?
Confirmation Bias
What does Devil’s Advocacy involve in the context of decision-making?
Challenging the path forward with alternative viewpoints and offering criticisms.
In decision-making, what is Representativeness characterized by?
Drawing conclusions based on small samples or anecdotes.
Which concept involves making sense of complex problems using simple analogies?
Reason by Analogy
What is Illusion of Control related to in decision-making?
individuals overestimate their ability to control events
What is a key aspect of the Scenario Planning Approach?
Obtaining input from both top-down and bottom-up perspectives
Which type of strategic initiative is characteristic of Bottom-Up approach to strategic emergence?
Autonomous actions by employees
What is a distinguishing feature of System 1 decision-making mode?
Being error-prone with higher biases
How does Serendipity influence strategic initiatives?
It introduces random events and surprises
In the context of decision-making, what is a common issue associated with System 2 mode?
Experiencing greater likelihood of cognitive biases
What differentiates Top-Down approach from Bottom-Up approach in strategic emergence?
Bottom-Up includes less formal and stylized management
Which decision-making mode requires less energy and tends to be more automatic?
System 1
Which aspect of leadership focuses on exercising psychological, social, and inspirational influence on company staff?
Leading
What activity involves monitoring daily staff activities?
Supervision
Which leadership activity includes seeking risk and change while appealing to the heart?
Raising expectations
What does Strategic Leadership involve in terms of influence?
Formal authority and informal authority
Which aspect of decision-making relates to making sense of complex problems using simple analogies?
Scenario planning approach
In decision-making, what is Representativeness characterized by?
Searching for information that supports existing beliefs
Which leadership activity involves motivating others ?
Empower
What is the primary focus of the scenario planning approach in strategic management?
Preparing for multiple possible futures
In strategic management, System 1 decision-making mode is characterized by:
Quick, intuitive, and automatic decisions based on gut feelings
What is strategic emergence in the context of organizational strategy?
The spontaneous development of strategies through ongoing interactions and adaptations
Which approach to strategy planning relies heavily on analyzing prices, costs, margins, and market demand?
Top Down Strategic Planning Approach
What is a common shortcoming associated with the Top Down Strategic Planning Approach?
Limited ability to adapt to change
In what way does System 2 decision-making differ from System 1 decision-making?
System 2 considers multiple options whereas System 1 is quick and automatic
How does strategic emergence contribute to organizational adaptability?
'By allowing strategies to evolve organically based on ongoing interactions'
What leadership style promotes open dialogue and quick decisions according to the text?
Autocratic
Which leader's approach is associated with a laissez-faire leadership style?
Richard Wagoner
Who is known for having a diplomatic and pragmatic leadership style?
Mark Zuckerberg
Which leader's leadership style was autocratic and related to a major emission scandal?
Martin Winterkorn
Which leader's autocratic style led to the bankruptcy of Lehman Brothers in 2008?
Richard Fuld
'Passion, Purpose, People, Product & Partnerships' are elements of success associated with which leader?
Jack Ma
'Revolutionary, Visionary & Entrepreneurship' are elements of success attached to which leader?
Sundar Pichai
What is the primary characteristic of Escalating Commitment?
Continuing support despite signs of failure
Which concept involves challenging the path forward with alternative viewpoints and criticisms?
Dialectic Inquiry
In decision-making, which bias is related to searching for information to support existing beliefs?
Confirmation Bias
What does Devil’s Advocacy primarily aim to do in decision-making?
Highlight potential issues
Which tendency involves using simple analogies to understand complex problems?
Reason by Analogy
What characterizes the Illusion of Control in decision-making?
Overestimating one's control over events
Which behavior is associated with Groupthink in decision-making?
Coalescing opinions without critical evaluation
What is a key element of Reason by Analogy?
Using simple comparisons to understand complex issues
This quiz covers the concept of scenario planning approach, which involves deriving strategic responses for different scenarios (likely, optimistic, and pessimistic). It also explores considering external factors (PESTEL), obtaining input from bottom-up questions, and predicting the future environment. Test your knowledge on strategic initiatives and planned emergence in response to different scenarios.
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