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A leveraged buyout will often result in a short-term outcome of __________, which, in turn, leads to a long-term outcome of __________.

Compared to homogeneous top management teams, heterogeneous top management teams with an internally promoted CEO are more likely to change their firm’s strategies when necessary and to support innovation

One problem with becoming too large is that large firms:

What type of buyout is most likely to lead to greater entrepreneurial activity and growth?

__________ may be necessary because acquisitions create a situation in which the newly formed firm has excess capacity in organizational functions such as sales, manufacturing, distribution, and human resource management.

When a company does not possess all of the resources needed to successfully compete against its rivals, external social capital becomes increasingly critical to the firm’s success

Firm size, firm age, the executive’s tolerance for ambiguity, and his or her commitment to strategic outcomes are all factors that may affect managerial discretion

The balanced scorecard focuses on both financial and nonfinancial controls

Strategic control focuses on the content of strategic actions rather than their outcomes

A board composed primarily of outside directors will have better insights as to the firm’s intended strategic initiatives, the reasons for the initiatives, and the outcomes expected from them than will inside directors