Podcast
Questions and Answers
What is the main challenge that managers face when practicing ambidexterity?
What is the main challenge that managers face when practicing ambidexterity?
- Ignoring efficiency in favor of effectiveness
- Focusing solely on internal environment analysis
- Aligning resources for existing product markets only
- Balancing short-term and long-term perspectives (correct)
In the strategic management process, what is the difference between intended and realized strategy?
In the strategic management process, what is the difference between intended and realized strategy?
- Intended strategy focuses on long-term goals, while realized strategy prioritizes short-term gains.
- Intended strategy is based on analysis only, while realized strategy considers unforeseen environmental factors. (correct)
- Intended strategy does not involve resource constraints, while realized strategy does.
- Intended strategy is static, while realized strategy is dynamic.
What behavior is associated with individuals who exhibit ambidextrous behaviors?
What behavior is associated with individuals who exhibit ambidextrous behaviors?
- Avoiding cooperation with others
- Seeking out opportunities beyond their job scope (correct)
- Being complacent within the confines of their own jobs
- Resisting changes in managerial preferences
Which level of a firm is responsible for developing strategy formulation?
Which level of a firm is responsible for developing strategy formulation?
What does corporate governance refer to in the context of strategic management?
What does corporate governance refer to in the context of strategic management?
What are the two fundamental questions that strategic management aims to address?
What are the two fundamental questions that strategic management aims to address?
What is a key attribute of strategic management?
What is a key attribute of strategic management?
Which perspective of leadership views the leader as the primary force behind an organization's success?
Which perspective of leadership views the leader as the primary force behind an organization's success?
In strategic management, what is the primary focus of the external control perspective?
In strategic management, what is the primary focus of the external control perspective?
According to Caplan's turnaround elements mentioned in the text, what is one action taken to create competitive advantages?
According to Caplan's turnaround elements mentioned in the text, what is one action taken to create competitive advantages?
Study Notes
Ambidexterity Challenges
- The main challenge managers face when practicing ambidexterity is balancing exploration and exploitation.
Strategic Management Process
- Intended strategy refers to the planned course of action, while realized strategy is the actual course of action implemented.
- The difference between intended and realized strategy lies in the planned vs. actual course of action.
Ambidextrous Behaviors
- Individuals who exhibit ambidextrous behaviors are able to balance exploration and exploitation simultaneously.
Strategy Formulation
- The corporate level of a firm is responsible for developing strategy formulation.
Corporate Governance
- Corporate governance refers to the system of rules, practices, and processes by which a company is directed and controlled.
Strategic Management Questions
- Strategic management aims to address two fundamental questions: what business should we be in, and how can we compete successfully in that business?
Strategic Management Attributes
- A key attribute of strategic management is its long-term focus.
Leadership Perspectives
- The trait theory perspective views the leader as the primary force behind an organization's success.
External Control Perspective
- The primary focus of the external control perspective is on the external environment and the factors that influence an organization's performance.
Caplan's Turnaround Elements
- One action taken to create competitive advantages is to refocus on core competencies, as mentioned in Caplan's turnaround elements.
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Description
Explore two perspectives of leadership - Romantic view and External Control Perspective, in the context of creating competitive advantages in Strategic Management. Learn about the elements of Caplan's turnaround strategy, including cost-cutting measures, cultural changes, and strategic refocusing.
