Chapter 1 Quiz-2

A firm can achieve sustained competitive advantage by doing what?

A. Continually adapting to changes in external trends and events and internal capabilities,
competencies, and resources
B. Effectively formulating, implementing, and evaluating strategies that capitalize on changes in
trends and internal capabilities
C. Monitoring employees continuously
D. All of the above
E. A and B

E. A and B

Who said: "Perfection is not attainable. But if we chase perfection, we can catch excellence."
A. Vince Lombardi, Head Coach Green Bay Packers (1959-67)
B. George S. Halas, Head Coach Chicago Bears (1933-42, 1946-55, 1958-67)
C. President Barack Obama (2015)
D. Chuck Noll, Head Coach Pittsburgh Steelers (1969-91)
E. Tom Landry, Head Coach Dallas Cowboys (1960-88)

A. Vince Lombardi, Head Coach Green Bay Packers (1959-67)

Guidelines, rules, and procedures established to support implementation efforts are called
what?
A. Objectives
B. Policies
C. Strategies
D. Strengths
E. Opportunities

B. Policies

According to Menz and Sheef, when are chief strategy officers (CSOs) most often hired?
A. When there is no chief operating officer (COO).
B. As top management team interdependence increases
C. As the business portfolio increases (e.g., the firm becomes more diversified)
D. When there is an increase in management interdependence and growth in acquisition
activity
E. All of the above

D. When there is an increase in management interdependence and growth in acquisition

activity