Strategic Management: Strategic Managment

Gregory G. Dess, University of Texas at Dallas
G.T. Lumpkin, University of Illinois--Chicago

Strategic Management: Creating Competitive Advantages

True or False


1	A mission statement, according to the text, is a long-term, overarching vision that is massively inspiring and only discusses the purpose of the company.
		A)	TRUE
		B)	FALSE


2	Intellectual capital is becoming less important in today's economy. It is not a concern of managers throughout organizations.
		A)	TRUE
		B)	FALSE


3	The following is an example of a symbiotic approach to strategic management: "We are here to serve the shareholder and create shareholder value. I insist the only person who owns the company is the person who paid good money for it." (Former Chrysler Vice Chairman Robert Lutz)
		A)	TRUE
		B)	FALSE


4	The only individuals concerned with the performance of a company are the stakeholders.
		A)	TRUE
		B)	FALSE


5	To allow for changes in strategy, Organizational goals and objectives should be clearly stated.
		A)	TRUE
		B)	FALSE


6	Strategic management acknowledges the trade-offs between efficiency and effectiveness.
		A)	TRUE
		B)	FALSE


7	The following are excellent examples of mission statements: "Restoring patients to full life" (Medtronics) and "to be the happiest place on earth" (Disney).
		A)	TRUE
		B)	FALSE

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