Strategic Management - Study Mode

[#251] Which of the following is not a competence recognized by Richardson and Thompson (1994)?
Correct Answer

(B) Managing paradoxes

Explanation

Solution: Managing paradoxes is not a competence recognized by Richardson and Thompson (1994). Paradox management describes how a great manager can successfully balance these paradoxes. By using paradox management, a business can simultaneously encourage both competition and collaboration, rather than being able to have only one of the two.

[#252] If an organization is to survive, which of the following is most essential?
Correct Answer

(C) High level of service

Explanation

Solution: If an organization is to survive, High level of service is most essential. At the highest level, the minimum attributes that the customer/stakeholder expects in the service include: High quality, Customer friendly, Environmentally responsible, etc.

[#253] The corporate level is where top management directs:
Correct Answer

(C) overall strategy for the entire organization

Explanation

Solution: The corporate level is where top management directs overall strategy for the entire organization. A corporate-level strategy is when a business makes a decision that affects the whole company. A corporate-level strategy affects a company's finances, management, human resources, and where the products are sold.

[#254] Value for shareholders of a firm is measured by:
Correct Answer

(B) stock performance and profitability

Explanation

Solution: Value for shareholders of a firm is measured by stock performance and profitability. Shareholder value is the value enjoyed by a shareholder by possessing shares of a company. It is the value delivered by the company to the shareholder.

[#255] The three organizational levels are:
Correct Answer

(A) corporate level, business level, functional level

Explanation

Solution: The three organizational levels are corporate level, business level and functional level. The corporate level involves the entire organization. Business units include divisions, product lines or other centers of business activity within your organization. The functional level refers to organizational departments such as human resources, marketing, operations and IT.