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Test Bank Strategic Management Text and Cases 9th Edition by Dess.

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Test Bank Strategic Management Text and Cases 9th Edition by Dess. Chapter 1 Strategic Management: Creating Competitive Advantages 1) Lands' End's failure under the leadership of Ms. Frederica Marchionni was said to be a direct result of the quality of her leadership. According to the text, this would be an example of the "romantic" perspective of leadership. Answer: TRUE Explanation: In the romantic view of leadership, the implicit assumption is that the leader is the key force in determining an organization's success or lack thereof. Under Ms. Marchionni's leadership, the company reported a 19.5-million-dollar loss for 2016 after having reported a 73.8-million-dollar profit for the previous year under its previous CEO. Difficulty: 2 Medium Topic: Strategy and the Strategic Management Process Learning Objective: 01-01 The definition of strategic management and its four key attributes. Bloom's: Understand AACSB: Analytical Thinking Accessibility: Keyboard Navigation 2) Strategic management consists of the analyses, decisions, and actions an organization undertakes in order to create and sustain competitive advantages. Answer: TRUE Explanation: According to the textbook, this is the definition of strategic management. Difficulty: 1 Easy Topic: Strategy and the Strategic Management Process Learning Objective: 01-01 The definition of strategic management and its four key attributes. Bloom's: Remember AACSB: Knowledge Application Accessibility: Keyboard Navigation 3) Management innovations such as total quality, just-in-time, benchmarking, business process reengineering, and outsourcing are important but not enough for building sustainable competitive advantage. Answer: TRUE Explanation: Sustainable competitive advantage cannot be achieved through operational effectiveness alone. Popular management innovations of the last two decades like total quality, just-in-time, benchmarking, business process reengineering, and outsourcing are concerned with operational effectiveness. Difficulty: 2 Medium Topic: Strategy and the Strategic Management Process Learning Objective: 01-01 The definition of strategic management and its four key attributes. Bloom's: Understand AACSB: Analytical Thinking Accessibility: Keyboard Navigation 4) Trade-off decisions between effectiveness and efficiency are important in the practice of strategic management. Answer: TRUE Explanation: The fourth attribute of strategic management is that it involves the recognition of trade-offs between effectiveness and efficiency. Some authors have referred to this as the difference between doing the right thing (effectiveness) and doing things right (efficiency). Difficulty: 2 Medium Topic: Strategy and the Strategic Management Process Learning Objective: 01-01 The definition of strategic management and its four key attributes. Bloom's: Understand AACSB: Analytical Thinking Accessibility: Keyboard Navigation.

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