Stimulating Creativity in Corporate Strategy

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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?

Shared openly regardless of quantifiability (C) Signup and view all the answers

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

A culture that emphasizes strategic management understanding (D) Signup and view all the answers

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

To consider new information, viewpoints, and ideas for improvement (C) Signup and view all the answers

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

It requires students to apply their knowledge from previous courses (A) Signup and view all the answers

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

Conducting an external and internal analysis (B) Signup and view all the answers

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

It requires the most coordination and communication (C) Signup and view all the answers

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

Intuition provides a creative spark, while analysis provides rigor (D) 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?

They are too focused on short-term results (B) Signup and view all the answers

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

It improves organizational performance and profitability (C) Signup and view all the answers

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

Daniel Delmar (C) Signup and view all the answers

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

USA Today (D) Signup and view all the answers

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

Academy of Management Executive (D) Signup and view all the answers

Which book is authored by Jack Pearce and Richard Robinson?

Strategic Management, 7th ed. (A) Signup and view all the answers

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

Planning Review (B) Signup and view all the answers

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

G.L. Schwenk and K.Schrader (B) Signup and view all the answers

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

To promote understanding and learning within the organization (A) Signup and view all the answers

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

All of the above (D) Signup and view all the answers

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

Strategies may become jeopardized due to the firm's resources being spread too thin (A) Signup and view all the answers

What is a critical mistake that managers should avoid?

Pursuing too many strategies at the same time (D) Signup and view all the answers

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

Managers should be able to describe the strategists' positions to their satisfaction (C) Signup and view all the answers

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

Comsat may not be able to pursue all the strategies it wants due to resource constraints (C) Signup and view all the answers

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

Being too formal and rigid (A) Signup and view all the answers

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

Continually strengthening the "good ethics is good business" policy (B) Signup and view all the answers

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

It comes from the Greek word meaning "to lead an army" (A) Signup and view all the answers

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

Qualitative factors as objectively as possible (D) Signup and view all the answers

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

Military operations (B) Signup and view all the answers