Understanding Strategic Planning and Ethical Core Values in Leadership
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Questions and Answers

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

  • Fairness, Accountability, Trust, Honesty, Equality, Respect (correct)
  • Transparency, Flexibility, Sympathy, Persistence, Innovation
  • Autocracy, Deception, Discrimination, Exploitation, Inequality
  • Competition, Aggressiveness, Secrecy, Indifference, Dishonesty

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

  • Competitive Advantages (correct)
  • Cost Reduction Strategies
  • Market Domination
  • Employee Turnover

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

  • Organization and Integration
  • Differentiation strategies
  • Implementation of strategy
  • Where and how to compete (correct)

    • 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

    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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    Description

    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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