33. The text addresses two perspectives of leadership as well as their implications. These two perspectives are D) romantic and external control. 35. According to the text, the strategic management process entails three ongoing processes: B) analysis, decisions, and actions. 37. The “organizational versus individual rationality” perspective suggests that C) what is best for a functional area may not be best for the organization. 38. The four key attributes of strategic management include the idea that A) strategy must be directed toward overall organizational goals and objectives. 39. The four key attributes of strategic management include all of the following except D) emphasis on the attainment of short-term objectives. 47. Strategy formulation and implementation is a challenging on-going process. To be effective, it should involve D) all of the above. 48. Effective leaders must engage in many different activities. According to the text, these activities include D) all of the above. 50. An organization is responsible to many different entities. In order to meet the demands of these groups organizations must participate in stakeholder management. Stakeholder management means that A) interests of the stockholders are not the only interests that matter. 53. There are several perspectives of competition. One perspective is zero-sum thinking. Zero-sum thinking means that C) one can only gain at the expense of someone else. 55. Firms must be aware of goals other than short-term profit maximization. One area of concern should be social responsibility which is A) the expectation that business will strive to improve the overall welfare of society. 57. Firms must be concerned with many types of capital. In the broader sense, these could include D) all of the above. 33. _____________ tracks the evolution of environmental trends, sequences of events, or streams of activities. B) Environmental monitoring 35. Scanning the general environment would identify information on B) the aging population and ethnic shifts. 36. A danger of forecasting discussed in the text is that C) managers may view uncertainty as “black and white” while ignoring important “gray areas.” 38. The aging of the population, changes in ethnic composition, and effects of the baby boom are B) demographic changes. 42. All of the following are important elements of the political/legal segment of the general environment except C) the increased use of Internet technology. 43. According to a study by Harvard University and the Federal Reserve, information technology is responsible for _____ of the rapid productivity gains in recent years.
C) almost half 44. Interest rate increases have a ________ impact on the residential home construction industry and a ___ effect on industries that produce consumer necessities such as prescription drugs or basic grocery items. B)
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