Executive Decision Making
Study Guide Questions
Course Introduction
Executive Decision Making explores the complex processes by which top-level managers and leaders make critical organizational choices. This course examines theoretical frameworks and practical tools for decision analysis, considering factors such as uncertainty, risk assessment, ethical implications, and group dynamics. Through case studies, simulations, and real-world scenarios, students develop the skills necessary to evaluate alternatives, anticipate outcomes, minimize biases, and implement effective decisions in competitive and rapidly changing business environments.
Recommended Textbook
Concepts in Strategic Management and Business Policy 14th Edition by Thomas L. Wheelen
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12 Chapters
1254 Verified Questions
1254 Flashcards
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Chapter 1: Basic Concepts in Strategic Management
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106 Verified Questions
106 Flashcards
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Sample Questions
Q1) A functional strategy may include competitive or cooperative strategies.
A)True
B)False
Answer: False
Q2) One of the benefits of globalization is
A) economies of scale.
B) decreased outsourcing.
C) increased union negotiations.
D) increased taxes.
E) additional human resource training.
Answer: A
Q3) An example of an objective is "increased profitability," while an example of a goal is "to increase the firm's profitability in 2010 by 15% over 2009."
A)True
B)False
Answer: False
Q4) Corporate strategy occurs at the business unit or product level.
A)True
B)False
Answer: False
Page 3
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Chapter 2: Corporate Governance
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Sample Questions
Q1) The top criterion for selecting a good director in U.S. corporations is their willingness to challenge management when necessary.
A)True
B)False
Answer: True
Q2) Which of the following is NOT one of the four major issues researched by the S & P Corporate governance Scoring System?
A) ownership structure and influence
B) research and development initiatives
C) financial stakeholder rights and relations
D) financial transparency and information disclosures
E) board structure and processes
Answer: B
Q3) A 2011 McKinsey and Company survey found that less than 10 percent of a board's time is spent on strategy.
A)True
B)False
Answer: False
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Chapter 3: Ethics and Social Responsibility in Strategic Management
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97 Flashcards
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Sample Questions
Q1) Society generally expects firms to work with employees and the company to plan for layoffs. This is an example of which of Carroll's responsibilities?
A) economic
B) legal C) justice
D) ethical
E) discretionary
Answer: D
Q2) Secondary stakeholders have a direct connection with the corporation and have sufficient bargaining to directly affect corporate activities.
A)True
B)False
Answer: False
Q3) The broader concept of sustainability is closely aligned with Carroll's view of social responsibility.
A)True
B)False
Answer: True
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Chapter 4: Environmental Scanning and Industry Analysis
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116 Verified Questions
116 Flashcards
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Sample Questions
Q1) A.C. Nielsen is an example of an outside organization providing a firm with competitive intelligence.
A)True
B)False
Q2) An example of an economic variable in the societal environment is interest rates.
A)True
B)False
Q3) The combination of the degree of complexity and the degree of change existing in an organization's external environment is/are called
A) strategic factors.
B) strategic issues.
C) environmental uncertainty.
D) strategic fit.
E) scenarios.
Q4) Environmental scanning is the monitoring, evaluating, and disseminating of information from the external environment to key people within the corporation.
A)True
B)False
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Page 6
Chapter 5: Internal Scanning and Organizational Analysis
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109 Verified Questions
109 Flashcards
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Sample Questions
Q1) The speed with which other firms can understand the relationship of resources and capabilities supporting a successful firm's strategy is called A) imitability.
B) reverse engineering.
C) transferability.
D) transparency.
E) durability.
Q2) An example of the promotion variable of the marketing mix is A) advertising.
B) discounts.
C) location.
D) services.
E) quality.
Q3) The product life cycle enables a marketing manager to examine the marketing mix of a particular product or group of products in terms of its position in its life cycle.
A)True
B)False
Q4) What is corporate culture and what are the two distinct attributes of culture?
Q5) Discuss the three basic organizational structures.
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Chapter 6: Strategy Formulation: Situation Analysis and Business Strategy
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104 Verified Questions
104 Flashcards
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Sample Questions
Q1) A secret salary cap was the contention in a 2012 collusion lawsuit filed against A) KFC.
B) the National Football League.
C) GE.
D) Major League Baseball.
E) ESPN.
Q2) Tight cost control is an organizational requirement for a cost leadership strategy.
A)True
B)False
Q3) All of the following reflect criticisms of the SWOT analysis EXCEPT
A) it uses no weights to reflect priorities.
B) it only requires a single level of analysis.
C) it provides a rational link to strategy implementation.
D) it uses ambiguity in words and phrases.
E) it generates lengthy lists.
Q4) One skill required of the cost leadership strategy is a strong marketing ability. A)True B)False
Page 8
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Chapter 7: Strategy Formulation: Corporate Strategy
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103 Verified Questions
103 Flashcards
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Sample Questions
Q1) Horizontal growth can be achieved by expanding the firm's products into other geographic locations and/or by increasing the range of products and services offered to current markets.
A)True
B)False
Q2) An MNC uses which international strategy for entering a foreign market by purchasing another company already operating in the area developing synergistic benefits gained from acquiring strong complementary product lines and a good distribution network?
A) licensing
B) joint ventures
C) production sharing
D) exporting
E) acquisitions
Q3) What are the three key issues that corporate strategy deals with?
Q4) A merger is a transaction involving two or more corporations in which stock is exchanged, but from which only one corporation survives.
A)True
B)False
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Chapter 8: Strategy Formulation: Functional Strategy and Strategic Choice
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) When a company exchanges 200 shares of stock worth $20 each for 100 shares worth $40 each, they are using
A) tracking stock.
B) holding stock.
C) an LBO.
D) reverse stock split.
E) split stock.
Q2) In evaluating a strategic alternative, if there is little fit with the company's culture, what are management's options?
Q3) The real-options approach is used by Chevron for bidding on petroleum reserves.
A)True
B)False
Q4) The use of the Internet to market goods directly to the customer allows a company to use dynamic pricing.
A)True
B)False
Q5) Give an example of a technological leader.
Q6) Discuss W. Edward Deming's position on sole sourcing.
Q7) What does a financial strategy examine?
10
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Chapter 9: Strategy Implementation: Organizing for Action
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108 Verified Questions
108 Flashcards
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Sample Questions
Q1) Studies of the performance of reengineering programs show clear, consistent, and overwhelming evidence of success and improved productivity.
A)True
B)False
Q2) When the people managing diversified product lines in a functionally structured corporation need more decision-making freedom than top management is willing to delegate to them, this type of crisis is called
A) a crisis of autonomy.
B) a crisis of confidence.
C) a crisis of clarity.
D) a crisis of differentiation.
E) a crisis of leadership.
Q3) A candidate for a fourth stage in corporate development is
A) conglomerate structure.
B) strategic business units.
C) divisional structure.
D) matrix structure.
E) hybrid structure.
Q4) Discuss the network structure.
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Chapter 10: Strategy Implementation: Staffing and Directing
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Sample Questions
Q1) According to the text, which one of the following is NOT one of the dangers of using primarily foreign nationals to staff managerial positions in subsidiaries?
A) the increased likelihood of suboptimization
B) difficulty for the MNC to meet long-term, worldwide objectives
C) the ability for communication and coordination becomes increasingly difficult
D) promotes anger and jealousy within the nationalistic host government
E) problems in coordinating activities of several international subsidiaries leads to problems in operating in a global industry
Q2) Which method of managing disparate cultures is the most common and most destructive method of dealing with two different cultures because one company imposes its demands at the expense of another company's culture?
A) separation
B) deculturation
C) integration
D) assimilation
E) segmentation
Q3) What is executive succession? Discuss the hiring of insiders versus outsiders.
Q4) List the guidelines proposed for successful downsizing.
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Chapter 11: Evaluation and Control
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Sample Questions
Q1) Management audits have been developed to evaluate activities such as corporate social responsibility, functional areas such as the marketing department, and divisions such as the international division.
A)True
B)False
Q2) What percent of U.S. companies actively monitored their workers' website visits according to an American Management Association study?
A) 0%
B) 25%
C) 33%
D) 50%
E) 66%
Q3) RFID
A) is radio frequency identification.
B) is an electronic tagging technology.
C) improves supply-chain efficiency.
D) is used as wireless computer passes for toll roads.
E) all of the above
Q4) What is the balanced scorecard? What are the four areas to be addressed?
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Chapter 12: Suggestions for Case Analysis
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Sample Questions
Q1) To adjust for general inflation in the United States, what index does the text suggest?
A) Dow-Jones Industrial Average
B) New York Stock Exchange Index
C) Wilshire 500 Equity Index
D) Consumer Price Index
E) NASDAQ Series
Q2) If the corporation being studied appears to be in poor financial condition, use Altman's Bankruptcy Formula to calculate its Z-value.
A)True
B)False
Q3) Which of the following is NOT one of the categories of important financial ratios that is mentioned in the text to help assess an organization's overall financial situation?
A) leverage ratios
B) liquidity ratios
C) asset management ratios
D) activity ratios
E) profitability ratios
Q4) What is the Z-value?
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