Course Introduction
Executive Decision Making Exam Preparation
Guide
Executive Decision Making explores the processes, tools, and psychological factors that underpin high-level decision making in organizations. The course examines techniques for analyzing complex business problems, balancing risk and reward, and making strategic choices under uncertainty. Students will learn frameworks for effective leadership decisions, understand cognitive biases that impact judgment, and practice using real-world cases and simulations. Emphasis is placed on ethical considerations, stakeholder management, and the integration of data-driven insights with executive intuition to drive organizational success.
Recommended Textbook
Concepts in Strategic Management and Business Policy 15th Edition by Thomas L. Wheelen
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13 Chapters
1413 Verified Questions
1413 Flashcards
Source URL: https://quizplus.com/study-set/2027
Page 2
Chapter 1: Basic Concepts in Strategic Management
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112 Verified Questions
112 Flashcards
Source URL: https://quizplus.com/quiz/40299
Sample Questions
Q1) One of the benefits of strategic management is a clearer sense of strategic vision for the firm.
A)True
B)False
Answer: True
Q2) The theory that proposes organizations can and do adapt to changing conditions by imitating other successful organizations is known as A) population ecology. B) institution theory. C) citizenship theory. D) strategic theory. E) sample theory.
Answer: B
Q3) An example of an objective is "increased profitability," while an example of a goal is "to increase the firm's profitability in 2017 by 15 percent over 2016."
A)True
B)False
Answer: False
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Chapter 2: Corporate Governance
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99 Verified Questions
99 Flashcards
Source URL: https://quizplus.com/quiz/40300
Sample Questions
Q1) Outside directors may be executives of other firms but are not employees of the board's corporation.
A)True
B)False
Answer: True
Q2) Executive leadership is the directing of activities toward the accomplishment of corporate objectives.
A)True
B)False
Answer: True
Q3) Codetermination
A) is the process by which both management and the board establish corporate strategic management.
B) is the inclusion of a corporation's employees on its board.
C) occurs when one or more individuals on one board also serve on other boards.
D) is present when all board members are also employed by the corporation.
E) occurs when minority shareholders concentrate their votes.
Answer: B
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Chapter 3: Social Responsibility and Ethics in Strategic Management
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103 Verified Questions
103 Flashcards
Source URL: https://quizplus.com/quiz/40301
Sample Questions
Q1) Milton Friedman's position on social responsibility
A) proposes that a lack of social responsibility results in increased government regulations.
B) appears to be losing traction with business executives.
C) suggests that a lack of social responsibility reduces a firm's efficiency.
D) explains why firms are using their socially responsible actions for competitive advantage.
E) mirrors Carroll's position.
Answer: B
Q2) The first step in stakeholder analysis is identifying those who have only an indirect stake in the corporation.
A)True
B)False
Answer: False
Q3) The Golden Rule is the same as one of Immanuel Kant's categorical imperatives to resolve ethical dilemmas.
A)True
B)False
Answer: True
Page 5
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Chapter 4: Environmental Scanning and Industry Analysis
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119 Verified Questions
119 Flashcards
Source URL: https://quizplus.com/quiz/40302
Sample Questions
Q1) All of the following are technological breakthroughs already having a significant impact on many industries EXCEPT
A) growing health consciousness.
B) alternative energy sources.
C) genetically altered organisms.
D) smart, mobile robots.
E) virtual personal assistants.
Q2) According to Porter,seeing clothing firms such as Under Armour enter the athletic shoe industry would reflect a
A) medium bargaining power of suppliers.
B) low threat of substitutes.
C) medium bargaining power of buyers.
D) high threat of potential entrants.
E) low competitive intensity.
Q3) According to Michael Porter,the weaker each of the competitive forces,the more limited companies are in their ability to raise prices and earn greater profits.
A)True
B)False
Q4) Describe the four strategic types of the Miles and Snow typology.
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Chapter 5: Organizational Analysis and Competitive Advantage
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110 Verified Questions
110 Flashcards
Source URL: https://quizplus.com/quiz/40303
Sample Questions
Q1) Which of the following best describes a simple structure?
A) Work is divided into subunits on the basis of such functions as manufacturing, marketing, finance, and human resources.
B) This is most appropriate for large corporations with many product lines in several related industries, with employees acting as functional specialists attempting to gain synergy among divisional activities.
C) This is most appropriate for small, entrepreneur-dominated companies with one or two product lines that operate in a small niche market, with employees acting as jack-of-all trades.
D) Employees have two or more superiors, a project manager and a functional manager.
E) This is most appropriate for large corporations with many product lines in several unrelated industries, with employees acting as functional specialists but with no attempt at gaining synergy among the divisions.
Q2) A core competency can be easily imitated to the extent that it is transparent,transferable,and replicable.
A)True
B)False
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Page 7
Chapter 6: Strategy Formulation: Business Strategy
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113 Verified Questions
113 Flashcards
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Sample Questions
Q1) When Facebook partnered with nine news organizations to allow the news organizations (including powerhouses like the New York Times and NBC News) to post stories on the Facebook site,they engaged in
A) a joint venture.
B) a licensing arrangement.
C) a value-chain partnership.
D) a mutual service consortium.
E) a competitive advantage.
Q2) Populating a SWOT chart,by itself,is just the start of a strategic analysis.
A)True
B)False
Q3) Discuss the types of alliances that businesses can engage in?
Q4) What is a propitious niche? Provide an example of a firm that has been able to occupy a propitious niche successfully.
Q5) An example of a company that was "stuck in the middle" was K-Mart as the company tried to imitate both Walmart's low-cost strategy and Target's differentiation strategy.
A)True
B)False
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Chapter 7: Strategy Formulation: Corporate Strategy
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108 Verified Questions
108 Flashcards
Source URL: https://quizplus.com/quiz/40305
Sample Questions
Q1) The most widely pursued corporate directional strategies are those designed to achieve growth.
A)True
B)False
Q2) When Bristol-Myers Squibb purchased 17% of ImClone's common stock to gain access to a new drug,it was using which type of integration?
A) full integration
B) long-term contracts
C) backwards integration
D) taper integration
E) quasi integration
Q3) Which strategy specifies the firm's overall direction in terms of its general orientation toward growth,the industries or markets in which it competes,and the manner in which it coordinates activities and transfers resources among business units?
A) corporate
B) functional
C) divisional
D) organizational
E) business
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Page 9
Chapter 8: Strategy Formulation: Functional Strategy and Strategic Choice
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112 Verified Questions
112 Flashcards
Source URL: https://quizplus.com/quiz/40306
Sample Questions
Q1) What is a corporate scenario? What are the three steps in their construction?
Q2) Outsourcing is the alternative to vertical integration.
A)True
B)False
Q3) Two suppliers are the sole suppliers of two different parts,but they are also backup suppliers for each other's parts in parallel sourcing.
A)True
B)False
Q4) Which strategy is developed to pull together the various activities and competencies of each department so that corporate and business unit performance improves and resource productivity is maximized?
A) business strategy
B) competitive strategy
C) generic strategy
D) enterprise strategy
E) functional strategy
Q5) Outsourcing is the reverse of vertical integration.
A)True
B)False
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Chapter 9: Strategy Implementation: Global Strategy
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102 Verified Questions
102 Flashcards
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Sample Questions
Q1) Discuss some of the recommendations to improve the entire expatriation process.
Q2) A key driver for strategic fit between international alliance partners is that both partners must contribute core competencies.
A)True
B)False
Q3) Which types of controls are recommended for a global MNC versus a multi-domestic MNC?
Q4) To obtain a solid position in the profitable North American beer market,InBev of Belgium purchased Anheuser-Busch.This was an example of which means of international entry?
A) joint venture
B) acquisition
C) green-field development
D) production sharing
E) BOT
Q5) For a multi-national corporation (MNC) to be considered global,it must manage its worldwide operations as if they were totally interconnected.
A)True
B)False
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Chapter 10: Strategy Implementation: Organizing and Structure
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108 Verified Questions
108 Flashcards
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Sample Questions
Q1) Asking "What would Walt do" at Disney years after his death could present blocks to needed change.
A)True
B)False
Q2) Stage IV of a corporation could involve a pressure-cooker crisis in which employees in these collaborative organizations will eventually grow emotionally and physically exhausted from the intensity of teamwork and the heavy pressure for innovative solutions.
A)True
B)False
Q3) During Stage II of the organizational life cycle,the structure most likely to be implemented is
A) entrepreneur-dominated.
B) functional management.
C) decentralization into profit or investment centers.
D) structural surgery.
E) dismemberment of structure.
Q4) The concept that structure follows strategy was developed by Alfred Chandler.
A)True B)False
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Chapter 11: Strategy Implementation: Staffing and Directing
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110 Verified Questions
110 Flashcards
Source URL: https://quizplus.com/quiz/40309
Sample Questions
Q1) Corporate culture does not necessarily have to support the strategy of the firm.
A)True
B)False
Q2) When Admiral was acquired by Maytag Corporation,the Admiral employees were willing to accept the dominance of Maytag's strong quality-oriented culture because they respected it.This demonstrates which approach to managing culture?
A) integration
B) separation
C) deculturation
D) assimilation
E) segmentation
Q3) Strategic goals can be accomplished through defining an action plan.Which one of the following is not one of the components that make up an action plan?
A) the specific actions to be taken
B) who will perform the action
C) during what time frame the action will be completed
D) where the action will be done
E) what are the expected results of the action
Q4) What is TQM and what are its essential ingredients?
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Chapter 12: Evaluation and Control
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114 Verified Questions
114 Flashcards
Source URL: https://quizplus.com/quiz/40310
Sample Questions
Q1) Which method of matching executive rewards to the accomplishment of strategic objectives is particularly appropriate for measuring and rewarding the performance of top SBU managers and group-level executives when performance factors and their importance vary from one SBU to another?
A) strategic-funds method
B) segmentation method
C) long-term evaluation method
D) individual evaluation method
E) weighted-factor method
Q2) Which method of matching rewards to the accomplishment of strategic objectives encourages executives to look at developmental expenses as being different from those expenses required for current operations?
A) strategic-funds method
B) segmentation method
C) long-term evaluation method
D) individual evaluation method
E) weighted-factor method
Q3) What is the most commonly used measure of corporate performance (in terms of profits)? Discuss the limitations of using this measure.
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Page 14
Chapter 13: Suggestions for Case Analysis
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103 Verified Questions
103 Flashcards
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Sample Questions
Q1) Converting categories on financial statements from dollar terms to percentages results in
A) inflation-adjusted statements.
B) diverse rates of returns.
C) common-size statements.
D) constant dollar denominations.
E) equivalency comparison.
Q2) The gross domestic product (GDP) is used only in the United States to measure the total output of goods and services within the country's borders.
A)True
B)False
Q3) Which financial ratio measures the company's ability to pay off its short-term obligations from current assets,excluding inventories?
A) quick ratio
B) current ratio
C) cash ratio
D) strategic ratio
E) inventory ratio
Q4) What are constant dollars and why are they important?
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