ALC 15 Business and Integration and Strategies - ALC 15...

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Small Business Management: Launching & Growing Entrepreneurial Ventures
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Chapter 7 / Exercise 2
Small Business Management: Launching & Growing Entrepreneurial Ventures
Longenecker/Petty
Expert Verified
ALC 15 Business and Integration and Strategies Section 1- Strategic Leadership: Managing The Strategy-Making Process For Competitive Advantage Questions: 1. The principle driver of shareholder value is: a. Profitability and profit growth 2. A competitive advantage is considered to be a sustained competitive advantage when the: a. Advantage endures for a long time 3. Functional managers a. Are responsible for the specific business functions or operations that constitute a company or one of its divisions 4. The first step in the strategic management process is: a. Defining the mission and major goals of the organization 5. Aaron planned to cut prices at his bicycle shop, but when a competing shop began to offer free repairs, Aaron decided to copy them. Aaron’s net strategy—offer free repairs---is an example of: a. Emergent strategy 6. The scenario approach to strategic planning involves: a. Devising plans for coping with a number of different possible future states of the world. 7. Which of the following cognitive biases occurs when decision makers commit even more resources when they receive feedback that the project is failing? a. Escalating commitment 8. Edward Wrapp’s ideas about the astuteness of political power suggest that successful strategic managers a. Are skilled organizational politicians who can build consensus and get their ideas pushed through 9. Devil’s advocacy a. Involves one group member being responsible for questioning the assumption of a plan. 10. Which of the following is NOT a characteristic of well-constructed goals? a. They are the result of a group decision process 11. The primacy goal of a SWOT analysis is to: a. Create, affirm, or fine-tune a company-specific business model 12. Systematic errors in the decision-making process are caused by: a. cognitive biases on the part of decision makers 13. Which of the following is NOT a characteristic of emotional intelligence? a. Self-essetm
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The document you are viewing contains questions related to this textbook.
Small Business Management: Launching & Growing Entrepreneurial Ventures
The document you are viewing contains questions related to this textbook.
Chapter 7 / Exercise 2
Small Business Management: Launching & Growing Entrepreneurial Ventures
Longenecker/Petty
Expert Verified
Section 2- Building Competitive Advantage Through Functional-Level Strategy Questions: 1. Economics of scale may be found: a. In several of a company’s departments 2. The experience curve refers to the: a.

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