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Understanding Strategic Planning and Ethical Core Values in Leadership

This quiz covers the importance of firm ethical core values, top-down strategic planning, scenario planning, strategy as planned emergence, causes of strategic dissonance, navigating strategic inflection points, and improving strategic decision-making processes. It also touches on the differences between leading, managing, and supervising in leadership roles.

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@MotivatedSaturn
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Questions and Answers

What are the principles of ethical leadership mentioned in the text?

Fairness, Accountability, Trust, Honesty, Equality, Respect

What is the key advantage of highly ethical organizations according to the text?

Competitive Advantages

In strategic planning, what does 'Strategy Formulation' primarily focus on?

Where and how to compete

Which approach to Strategy Planning is characterized as a 'Data-driven process'?

<p>Top Down Strategic Planning Approach</p> Signup and view all the answers

What cognitive bias involves the tendency to overestimate our ability to control events?

<p>Illusion of Control</p> Signup and view all the answers

Which bias involves continuing to support a project despite signs it may not succeed?

<p>Escalating Commitment</p> Signup and view all the answers

What is Devil’s Advocacy primarily focused on in decision-making?

<p>Exploring alternatives</p> Signup and view all the answers

In Dialectic Inquiry, what is discussed among decision-makers?

<p>Compromises</p> Signup and view all the answers

Which bias involves drawing conclusions based on small samples or anecdotes?

<p>Representativeness</p> Signup and view all the answers

What leadership style is associated with Mark Zuckerberg?

<p>Democratic</p> Signup and view all the answers

Which of the following characteristics is NOT typically attributed to Mark Zuckerberg's leadership style?

<p>Autocratic</p> Signup and view all the answers

What aspect of leadership does Mark Zuckerberg focus on according to the text?

<p>Empowerment</p> Signup and view all the answers

In terms of Strategy Execution, what does Strategic Leadership primarily focus on?

<p>Human capital focus</p> Signup and view all the answers

What leadership style is demonstrated by Mark Zuckerberg at Meta Platforms?

<p>Democratic</p> Signup and view all the answers

Which of the following is NOT listed as an element of Mark Zuckerberg's success?

<p>Profit</p> Signup and view all the answers

What does 'Power' refer to in the context of leadership?

<p>The capability to influence others to take action</p> Signup and view all the answers

In the Upper Echelons Theory, what organizational outcomes reflect values of the top management team?

<p>Strategic choices and performance levels</p> Signup and view all the answers

Which leadership style does Elon Musk primarily demonstrate at Tesla and SpaceX?

<p>Autocratic</p> Signup and view all the answers

What is the primary focus of leadership according to the text?

<p>Vision &amp; Strategy</p> Signup and view all the answers

What is a key characteristic of managing according to the text?

<p>Maintaining Status Quo</p> Signup and view all the answers

What approach does Scenario Planning take?

<p>Top-Down Approach</p> Signup and view all the answers

What does the text suggest is a potential shortcoming of many MNCs in terms of decision-making?

<p>Inability to adapt to change</p> Signup and view all the answers

What factors are considered in Scenario Planning?

<p>PESTEL Factors (External)</p> Signup and view all the answers

Which mode of decision making is described as slow, conscious, and effortful in the text?

<p>System 2</p> Signup and view all the answers

What effect do Autonomous Actions have on strategic initiatives according to the text?

<p>Respond to unexpected situations</p> Signup and view all the answers

What is the Vision Statement of Google?

<p>To provide access to the world's information in one click</p> Signup and view all the answers

Which of the following is NOT one of the values addressing customers and their needs at Google?

<p>You can be serious without a suit</p> Signup and view all the answers

What is the Mission Statement of Google?

<p>To organize the world's information and make it universally accessible and useful</p> Signup and view all the answers

What is the main focus in Google's value system according to the text?

<p>Speed and efficiency</p> Signup and view all the answers

What aspect of Google's values emphasizes the importance of catering to a diverse audience?

<p>The need for information crosses all borders</p> Signup and view all the answers

Which phrase summarizes Google's emphasis on continuous improvement and excellence?

<p>'Great' just isn't good enough</p> Signup and view all the answers

What does Google emphasize through 'You don’t need to be at your desk to need an answer'?

<p>Accessing information remotely</p> Signup and view all the answers

'It’s best to do one thing really, really well' reflects Google's focus on ___.

<p>'Specialization and excellence'</p> Signup and view all the answers

What important characteristic is highlighted by 'There’s always more information out there' in Google's values?

<p>Their belief in unlimited knowledge potential</p> Signup and view all the answers

What is the primary focus of Ethical Leadership according to the text?

<p>Demonstrating appropriate conduct based on values展現基於價值觀的適當行為</p> Signup and view all the answers

What is a key characteristic of ethical leadership?

<p>Transparency and honesty in actions</p> Signup and view all the answers

Which of the following is NOT a principle of Ethical Leadership mentioned in the text?

<p>Transparency</p> Signup and view all the answers

Which leadership style emphasizes inspiring and motivating others to achieve goals?

<p>Transformational leadership</p> Signup and view all the answers

In Strategic Leadership, what does the term 'Strategic Formulation' primarily focus on?

<p>The choice of strategy</p> Signup and view all the answers

In strategic leadership, what does 'Envision' refer to?

<p>Formulating long-term strategies</p> Signup and view all the answers

What is the key aspect of Strategy Implementation mentioned in the text?

<p>Organization, coordination, integration</p> Signup and view all the answers

What distinguishes Highly Ethical Organizations based on the text?

<p>Consistent culture and adherence to values</p> Signup and view all the answers

Which of the following is a key aspect of strategic leadership?

<p>Empowering employees to make decisions</p> Signup and view all the answers

What is the key characteristic of the Strategy as Planned Emergence approach?

<p>Relies on personal experience and expertise</p> Signup and view all the answers

In the context of leadership styles, what characteristic does the Scenario Planning approach primarily focus on?

<p>Strategic responses for different scenarios</p> Signup and view all the answers

In the realm of Ethical Leadership, what does 'Autonomous Actions' refer to according to the text?

<p>Responses to unexpected situations</p> Signup and view all the answers

What is the primary focus of leadership according to the text?

<p>Setting direction and raising expectations</p> Signup and view all the answers

What is the key advantage of highly ethical organizations according to the text?

<p>Reduced strategic dissonance</p> Signup and view all the answers

Which leadership style is characterized by being risk adverse and focusing on stability?

<p>Authoritative</p> Signup and view all the answers

In terms of Strategy Execution, what does Strategic Leadership primarily focus on?

<p>Accomplishing strategic goals</p> Signup and view all the answers

What is a key characteristic of ethical leadership according to the text?

<p>Setting a positive example for ethical behavior</p> Signup and view all the answers

Which leadership style does Elon Musk demonstrate at Tesla and SpaceX?

<p>Authoritative</p> Signup and view all the answers

In the context of strategy formulation, what does 'Envision' refer to?

<p>Inspiring a shared vision of the future</p> Signup and view all the answers

What aspect of leadership does successful use of power and influence reflect?

<p>Directing the activities of others towards organizational goals</p> Signup and view all the answers

What is a common issue associated with Richard Fuld's leadership style at Lehman Brothers?

<p>Over-delegation</p> Signup and view all the answers

Which element was lacking in Richard Wagoner's leadership style at General Motors?

<p>Empowerment</p> Signup and view all the answers

What consequence was associated with Ken Lay's leadership style at Enron?

<p>Major corporate fraud</p> Signup and view all the answers

Which leadership style was exemplified by Martin Winterkorn at Volkswagen?

<p>Autocratic</p> Signup and view all the answers

What aspect of Sundar Pichai's leadership style at Google is highlighted as a strength?

<p>Diplomatic approach</p> Signup and view all the answers

What cognitive bias involves the tendency to search for information that supports existing beliefs?

<p>Confirmation Bias</p> Signup and view all the answers

Which technique in decision-making involves challenging the path forward with alternative viewpoints and highlighting potential risks?

<p>Devil’s Advocacy</p> Signup and view all the answers

In strategic leadership, which bias involves the tendency to overestimate one's ability to control events?

<p>Illusion of Control</p> Signup and view all the answers

What is the key characteristic of Devil's Advocacy in decision-making?

<p>Challenging with alternative viewpoints</p> Signup and view all the answers

Which leadership bias involves drawing conclusions based on small samples or anecdotes?

<p>Representativeness</p> Signup and view all the answers

What is the key aspect of Dialectic Inquiry in decision-making?

<p>Exploring alternatives and compromises</p> Signup and view all the answers

Which cognitive bias involves continuing to support a project despite signs it may not succeed?

<p>Escalating Commitment</p> Signup and view all the answers

In strategic leadership, what does Reason by Analogy involve?

<p>Using simple analogies to solve complex problems</p> Signup and view all the answers

What is the primary focus of strategic leadership according to the text?

<p>Exploring alternatives and setting direction</p> Signup and view all the answers

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Study Notes

Strategic Leadership

  • Successful use of power and influence
  • Directing the activities of others
  • Pursuing an organization's goals
  • Enabling organizational competitive advantage
  • Power: the ability to influence others to do things
    • Formal authority (position) and informal authority (persuasion)

Leadership Styles

  • Democratic: Mark Zuckerberg (Meta Platforms)
    • Elements of Success: Passion, Purpose, People, Product, and Partnerships
  • Autocratic: Elon Musk (Tesla and SpaceX)
    • Situational leadership style
    • Quick decisions, democratic style promotes open dialogue
  • Transformational and Visionary: Jack Ma (Alibaba)
    • Elements of Success: Focus on mission, Empowerment, Know your people
  • Diplomatic and Pragmatic: Sundar Pichai (Google)
    • Elements of Success: Goal-oriented, Visionary, Empowerment, Empathic

Leadership Failure

  • Autocratic: Ken Lay (Enron)
    • Issues: Lack of Integrity, Over-delegation
    • Corporate Culture: Unethical
    • Consequence: Major corporate fraud in US history (2001)
  • Autocratic: Richard Fuld (Lehman Brothers)
    • Issues: Power >> distance, dehumanization; Abstractions & over-optimism
    • Consequence: Bankruptcy of Lehman Brothers (2008)
  • Autocratic: Martin Winterkorn (Volkswagen)
    • Issues: “Obedient, Cutthroat and Secretive Culture”, “Strict Top-down “,”People”
    • Consequence: 2015 Emission Scandal
  • Laissez-faire: Richard Wagoner (General Motors)
    • Issues: Static; Indecisive to Crisis; Too easy going
    • Consequence: Lost $B in revenue; added $B in debt (9-year tenure)

Strategic Management

  • Three interrelated principal activities:
    1. Corporate: Where to compete? Industry, markets, and geography
    2. Business: How to compete? Cost leadership, differentiation, or value innovation
    3. Functional: How to implement a chosen business strategy?
  • Top-down strategic planning approach:
    • Data-driven process
    • Strategy Planning through analysis of prices, costs, margins, market demand, head count, and production runs
  • Scenario planning approach:
    • Asks “what if” scenarios (Likely, Optimistic & Pessimistic)
    • Derive strategic responses for different scenarios
  • Strategy as planned emergence:
    • Top-down and bottom-up approach
    • Bottom-up strategic initiatives emerge
    • Management: Evaluated and Coordinated

Decision Making

  • Cognitive Biases:
    • Illusion of Control
    • Escalating Commitment
    • Confirmation Bias
    • Reason by Analogy
    • Representativeness
    • Groupthink
  • Improve Decision Making:
    • Devil's Advocacy
      • Challenging the path forward with alternative viewpoints
      • Highlighting what can go wrong
      • Criticisms are offered
    • Dialectic Inquiry:
      • Exploring alternatives
      • Discussing compromises

Ethical Leadership

  • Firm Performance:
    • Ethical Leadership
      • Emotional Response
      • Job Satisfaction
      • Organizational Commitment
    • Competitive Advantages
  • Ethical Organization:
    • Interrelated elements
    • Culture

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