SOLVED

11One of the elements of a formal strategic plan should be a.a contingency plan b.employee opinion survey c.statement from the Chair of the Board of Directors d.a list of the officers of the company 12Critics of the strategic planning process argue that the outcomes are flawed due to a.the stability of most industries b.environmental turbulence c.inexperienced managers d.organizational resistance to change 13Some would argue that the only sustainable competitive advantage for an organixation stems from its a.financial strength b.relationships c.learning ability d.supplier base 14When strategy is viewed as a learning process, the a.decision making is top down b.number of individuals involved decreases c.timeframe becomes longer d.range of perspectives considered increases 15One of the problems associated with organizational resiliency is the a.process takes too long to complete b.need to divert resources to untested possibilities c.responsiveness of competitors d.regulatory burden 16Errors in judgment with respect to decision making are the result of a.a perspective shift b.inexperience c.cultural norms d.cognitive biases 17Including sunk costs when analyzing the merits of strategic options is an example of a managerial bias known as a.overconfidence b.representativeness c.framing d.escalation of commitment 18A tendency to seek information that confirms what the management believes to be true is a bias referred to as a.confirmatory b.framing c.availability d.anchoring 19One of ways of limiting cognitive biases is to a.ask lots of questions b.restrict the amount of time spent on data collection c.accept that events which are concurrent are probably related d.count on the capabilities of the senior management team 20Shared understandings in organizations emerge from a.the minutes of the Board of Directors’ meetings b.industry reports c.employee opinion surveys d.dialogue 21One of the tensions that exists between intended and emergent strategy relates to a.commitment and resources b.mission and vision c.exploration and exploitation d.supply and demand 22One of the barriers to strategic renewal is a.feedback processes b.diagnostic systems c.cognitive maps d.transference of learning 23Entrepreneurial organizations tend to need a.better feed-forward systems b.fewer procedures c.more networks d.stronger feedback systems 24Mature organizations tend to need a.better feedback systems b.more planning c.stronger feed-forward systems d.bigger bureaucracies 25In situations that require managing the processes of feedback and exploitation, the most appropriate style of leadership is a.managerial b.transformational c.visionary d.transactional