QUESTION: 17

Many public companies remain committed to the rational approach to strategic decision making believing that the long term advantages outweigh the disadvantages.

Which TWO of the following factors are considered to be advantages of the rational approach?

Less time consuming and less expensive
Fosters an entrepreneurial spirit
Aids target setting and controls
Stakeholder confidence is enhanced

Answer(s): C,D

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QUESTION: 18

"The ability to exert influence and make someone act according to your own preferences" is the definition of which of the following?

Responsibility
Delegation
Authority
Power

Answer(s): D

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QUESTION: 19

The Thomas-Kilmann model suggests five conflict handling strategies.
Which THREE of the following are part of the model?

Competing: both parties seek to maximise their own interests and goals thus creating winners and losers.
Conflict reduction: involves building on areas of agreement and changing attitudes and perceptions by use of compromises and concessions.
Collaborating: involves a 'win-win' strategy which is achieved through joint confrontation of the problem.
Conflict suppression: involves threatened authority or force or smoothing over the conflict by de-emphasing the seriousness of the situation.
Accommodation: involves a strategy in which one party puts the other party's interest first even when it is to its own disadvantage.

Answer(s): A,C,E

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QUESTION: 20

Setting a mission is the first stage of the rational approach to strategy setting. According to David, which THREE of the following are useful areas to include in an organisation's mission statement?

Customers
Shareholders
Markets
Philosophy
Suppliers
Government

Answer(s): A,C,D

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QUESTION: 20