Stimulating Creativity in Corporate Strategy
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Questions and Answers

Why is welcoming bad news considered an important aspect of strategic management?

  • To stay in the dark about challenges
  • To maintain a positive working environment
  • To ignore problems
  • To address issues and make necessary adjustments (correct)
  • What is a key strategy mentioned to stimulate creativity and avoid routinized behavior?

  • Vary assignments and team membership (correct)
  • Avoid changing the planning calendar
  • Keep meeting formats predictable
  • Always stick to the same team membership
  • Why is it important for managers to be able to express their strategy concisely?

  • To avoid communication with employees
  • To prove their intelligence
  • To show they have a clear strategy (correct)
  • To confuse employees
  • How should pertinent information be treated in the context of strategic management?

    <p>Shared openly regardless of quantifiability</p> Signup and view all the answers

    What kind of organizational culture should be built according to the text?

    <p>A culture that emphasizes strategic management understanding</p> Signup and view all the answers

    Why is open-mindedness considered an important guideline for effective strategic management?

    <p>To consider new information, viewpoints, and ideas for improvement</p> Signup and view all the answers

    Why is the strategic management class often called a 'capstone course'?

    <p>It requires students to apply their knowledge from previous courses</p> Signup and view all the answers

    Which aspect of strategy formulation do you think requires the most time?

    <p>Conducting an external and internal analysis</p> Signup and view all the answers

    Why is strategy implementation often considered the most difficult stage in the strategic management process?

    <p>It requires the most coordination and communication</p> Signup and view all the answers

    Why is it important to integrate intuition and analysis in strategic management?

    <p>Intuition provides a creative spark, while analysis provides rigor</p> Signup and view all the answers

    Which of the following is the most important reason why some chief executive officers fail to use a strategic-management approach to decision making?

    <p>They are too focused on short-term results</p> Signup and view all the answers

    What is the single major benefit of using a strategic-management approach to decision making?

    <p>It improves organizational performance and profitability</p> Signup and view all the answers

    Who authored the article 'The Rise of the CSO'?

    <p>Daniel Delmar</p> Signup and view all the answers

    Which publication featured an article titled 'Shoppers Flock to Discount Stores'?

    <p>USA Today</p> Signup and view all the answers

    In which journal did John Pearce II and Fred David publish their article on corporate mission statements?

    <p>Academy of Management Executive</p> Signup and view all the answers

    Which book is authored by Jack Pearce and Richard Robinson?

    <p>Strategic Management, 7th ed.</p> Signup and view all the answers

    In which publication was the article 'Getting Value from Strategic Planning' published?

    <p>Planning Review</p> Signup and view all the answers

    Who conducted a meta-analysis on the effects of formal strategic planning on financial performance in small firms?

    <p>G.L. Schwenk and K.Schrader</p> Signup and view all the answers

    What is the primary purpose of strategists listening to and understanding managers' positions?

    <p>To promote understanding and learning within the organization</p> Signup and view all the answers

    Why can't organizations pursue all potential strategies that could benefit the firm?

    <p>All of the above</p> Signup and view all the answers

    What is the risk of pursuing too many strategies at the same time?

    <p>Strategies may become jeopardized due to the firm's resources being spread too thin</p> Signup and view all the answers

    What is a critical mistake that managers should avoid?

    <p>Pursuing too many strategies at the same time</p> Signup and view all the answers

    What does the text suggest about the relationship between strategists and managers?

    <p>Managers should be able to describe the strategists' positions to their satisfaction</p> Signup and view all the answers

    What is the key message conveyed in the quote from Joseph Charyk, CEO of Comsat?

    <p>Comsat may not be able to pursue all the strategies it wants due to resource constraints</p> Signup and view all the answers

    According to the passage, what should the strategic-planning process avoid?

    <p>Being too formal and rigid</p> Signup and view all the answers

    Which of the following is considered an important guideline for an effective strategic-planning process?

    <p>Continually strengthening the &quot;good ethics is good business&quot; policy</p> Signup and view all the answers

    What is the origin of the term "strategy" according to the passage?

    <p>It comes from the Greek word meaning &quot;to lead an army&quot;</p> Signup and view all the answers

    According to the passage, what factor should organizations consider when formulating strategy?

    <p>Qualitative factors as objectively as possible</p> Signup and view all the answers

    What is the underlying heritage of the study of strategic management, according to the passage?

    <p>Military operations</p> Signup and view all the answers

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