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BUS 475 Week 1 Chapter 2 Practice Strategic Leadership managing the strategy Process
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BUS 475 Week 1 Chapter 2 Practice Strategic Leadership managing the strategy Process

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BUS 475 Week 1 Chapter 2 Practice Strategic Leadership managing the strategy Process 1. The stakeholders of a firm are 2. Which of the following are aims of stakeholder strategy? 3. True or false: the strategist’s job is to focus on shareholders only. 4. Which of the following is a tool that managers can use to address the needs of stakeholders while maintaining a competitive advantage? 5. When a stakeholder has power over a company. It is 6. Place the five steps of the stakeholder impact analysis in order, with the first step at the top. 7. The concept, or framework, of corporate social responsibility guides firms in identifying and addressing their economic, legal, ethical and philanthropic obligations to society. 8. Which of the following legal developments allow business to function as an institution? (Check all that apply.) 9. Starbuck’s commitment to fair trade and responsible growing practices indicated that the firm takes its responsibilities seriously. Ethical 10. The expectations that society has toward business, in contrast to what society requires, result in which of the following elements of the pyramid of corporate social responsibility? (Check all that apply.) 11. Which of the following elements of the pyramid of corporate social responsibility are required by society? (Check all that apply.) 12. Match the element of the pyramid of corporate social responsibility (on the left) with its explanation (on the right). Philanthropic responsibilities Corporate citizenship Ethical responsibilities Do what is right, just, and fair Legal responsibilities Laws and regulations are society’s codified ethics; define minimum acceptable standard Economic responsibilities Gain and sustain competitive advantage 13. Top-down strategic planning is a rational process through which executives attempt to program future success. 14. A(n) illusion of a control describes the tendency of managers to overestimate their ability to manage events. 15. Both strategy formulation and strategy implementation are aspects of 16. A strategic business unit (SBU) is defined as an(n) . 17. Place the progression of steps in the traditional top-down strategic planning in order, with the first step at the top. 18. Scenario planning is a strategy-planning activity in which top management envisions various what-if scenarios to anticipate plausible futures in order to derive strategic responses. 19. A(n) strategy is the outcome of a rational and structures, top-down strategic plan. intended 20. Which of the following statements is correct? Strategic initiatives can be the result of top-down planning or a bottom-up process. 21. Which of the following are addressed during corporate strategy formulation? 22. What are the approaches that can be utilized when strategizing for competitive advantage? Strategic planning 23. True or false: Top-down strategic planning is most effective when the environment is constantly changing. 24. The major assumption in the top-down strategic planning process is that . 25. A(n) black swan event is an unexpected and unlikely occurrence that has a significant impact on society. 26. According to the book Good to Great by Jim Collins, companies that were able to gain a competitive edge all have what in common? 27. A level-4 (fill out in a number) leader presents a convincing vision and mission that helps groups improve their performance. 28. Rank the following levels of the level-5 leadership pyramid, placing the highest level at the top. 29. A level-2 leader is referred to as a contributing team member. 30. Which strategy addresses the question of how to compete? 31. Functional strategy is primarily concerned with 32. Which of the following are examples of black swan events? 33. Which of the following are types of corporate social responsibilities that a firm may identify during the fourth step of stakeholder impact analysis? (Check all that apply.) 34. According to upper-echelons theory, the way strategic leaders of a firm interpret a situation is influenced by which of the following? 35. A firm that successfully executes a strategy benefits society by . (Check all that apply.) 36. Among the various types of responsibilities a business firm has, which are specifically considered to be economic responsibilities? (check all that apply.) 37. For CEOs, what is an advantage of face-to-face meetings? 38. 39. Which of the following are outcomes of effective stakeholder management? (Check all that apply.) 40. Which of the following is NOT one of the variables used to determine whether the appropriate strategy process is strategic planning, scenario planning, or strategy as planned emergence? 41. Which of the following is considered an internal stakeholder? 42. What distinguishes a level-5 leader from other levels of leaders? 43. Which of the following statements are true about the views held by Sheryl Sandberg, one of the most influential women in the tech industry today? (Check all that apply.) 44. In the second step of the stakeholder impact analysis, managers need to identify and understand stakeholders’ . 45. Research about how CEOs spend their days suggests that CEOs spend most of their time 46. Microsoft donating more than $3 billion in cash and software to people in need is an example of which type of corporate social responsibility? 47. Sheryl Sandberg, named by Forbes magazine as the Most Powerful Woman in Tech for 2016, is the chief operating officer of . 48. Allows for bottom-up strategic initiatives to occur within a company and to be reviewed by executives.

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