Question 1

A winning strategy must pass which three tests?

Accepted Answer

A)  The Dominant Market Test,the Sustainable Advantage Test,and the Profit Test 
B)  The Fit Test,the Competitive Advantage Test,and the Performance Test 
C)  The Sustainable Performance Test,the Fit Test,and the Profit Test 
D)  The Performance Test,the Dominant Market Test,and the Fit Test 
E)  The Fit Test,the Sustainable Advantage Test,and the Dominant Market Test 
A)  The Dominant Market Test,the Sustainable Advantage Test,and the Profit Test 
B)  The Fit Test,the Competitive Advantage Test,and the Performance Test 
C)  The Sustainable Performance Test,the Fit Test,and the Profit Test 
D)  The Performance Test,the Dominant Market Test,and the Fit Test 
E)  The Fit Test,the Sustainable Advantage Test,and the Dominant Market Test

Question 2

A winning strategy is one that:

Accepted Answer

A)  builds strategic fit,is socially responsible,and maximizes shareholder wealth. 
B)  is highly profitable and boosts the company's market share. 
C)  fits the company's internal and external situation,builds sustainable competitive advantage,and improves company performance. 
D)  results in a company becoming the dominant industry leader. 
E)  can pass the ethical standards test,the strategic intent test,and the profitability test. 
A)  builds strategic fit,is socially responsible,and maximizes shareholder wealth. 
B)  is highly profitable and boosts the company's market share. 
C)  fits the company's internal and external situation,builds sustainable competitive advantage,and improves company performance. 
D)  results in a company becoming the dominant industry leader. 
E)  can pass the ethical standards test,the strategic intent test,and the profitability test.

Question 3

A beauty products giant that manufactures quality makeup products observes a lot of its hits by college students on its makeup tutorials.It opens another sub-brand that provides low-priced makeup services to college partygoers.Which of the five generic strategies has the company used?

Accepted Answer

The company has used a focused low-cost

Question 4

The difference between a company's strategy and a company's business model is that:

Accepted Answer

A)  a company's strategy is management's game plan for achieving strategic objectives while its business model is management's game plan for achieving financial objectives. 
B)  the strategy concerns how to compete successfully and the business model concerns how to operate efficiently. 
C)  a company's strategy is management's game plan for realizing the strategic vision,whereas a company's business model is the game plan for accomplishing its corporate responsibility goals. 
D)  strategy relates broadly to a company's competitive moves and business approaches while its business model relates to whether the revenues flowing from the strategy are sufficient to cover costs and realize a profit. 
E)  a company's strategy is solely concerned with how to please customers while its business model is solely concerned with how to please shareholders. 
A)  a company's strategy is management's game plan for achieving strategic objectives while its business model is management's game plan for achieving financial objectives. 
B)  the strategy concerns how to compete successfully and the business model concerns how to operate efficiently. 
C)  a company's strategy is management's game plan for realizing the strategic vision,whereas a company's business model is the game plan for accomplishing its corporate responsibility goals. 
D)  strategy relates broadly to a company's competitive moves and business approaches while its business model relates to whether the revenues flowing from the strategy are sufficient to cover costs and realize a profit. 
E)  a company's strategy is solely concerned with how to please customers while its business model is solely concerned with how to please shareholders.

Question 5

An established company in a market decides to donate a part of its profits to a children's charity to improve its market image.Soon after it launched a website that offers new clothes,accessories,and books that could be donated to various children's charities by interested parties.The company gained positive publicity and its sales went up.What would you say about this strategy?

Accepted Answer

The company has adopted a proactive stra

Question 6

Explain in detail what a company's business model entails.

Accepted Answer

At the core of every sound strategy is t

Question 7

Which of the following is NOT typically a trigger to an evolving strategy?

Accepted Answer

A)  The need to keep strategy in step with changing circumstances,market conditions,and changing customer needs and expectations 
B)  The proactive efforts of company managers to fine-tune and improve one or more pieces of the strategy 
C)  The need to abandon some strategy features that are no longer working well 
D)  The need to respond to the newly initiated actions and competitive moves of rival firms 
E)  The need to respond to short-term swings in the stock market 
A)  The need to keep strategy in step with changing circumstances,market conditions,and changing customer needs and expectations 
B)  The proactive efforts of company managers to fine-tune and improve one or more pieces of the strategy 
C)  The need to abandon some strategy features that are no longer working well 
D)  The need to respond to the newly initiated actions and competitive moves of rival firms 
E)  The need to respond to short-term swings in the stock market

Question 8

Should a company's strategy be tightly connected to its quest for competitive advantage? Why or why not? What difference does it make whether a company has a sustainable competitive advantage or not?

Accepted Answer

Yes,a company's strategy should be tight

Question 9

Briefly define each of the following terms.
a.Sustainable competitive advantage
b.Deliberate strategy
c.Emergent strategy
d.Realized strategy
e.Abandoned strategy

Accepted Answer

a.A company achieves a competitive advan

Question 10

A pen manufacturer sells high-quality pens at a very low price but provides pen-specific low-cost refills at a relatively higher price.Explain this business model.

Accepted Answer

High-quality pens at a very low price is

Question 11

Which of the following is NOT a frequently used strategic approach to set a company apart from rivals and achieve a sustainable competitive advantage?

Accepted Answer

A)  Striving to be the industry's low-cost provider,thereby aiming for a cost-based competitive advantage 
B)  Outcompeting rivals on the basis of differentiating features such as higher quality,wider product selection,added performance,better service,more attractive styling,technological superiority,or unusually good value for the money 
C)  Focusing on a broad buyer segment and offering buyers a very low cost and highly customized attributes that meet their specialized needs better than rivals' products 
D)  Focusing on a narrow market niche and winning a competitive edge by doing a better job than rivals of satisfying the needs and tastes of buyers comprising the niche 
E)  Developing a cost advantage based on offering more value for the money 
A)  Striving to be the industry's low-cost provider,thereby aiming for a cost-based competitive advantage 
B)  Outcompeting rivals on the basis of differentiating features such as higher quality,wider product selection,added performance,better service,more attractive styling,technological superiority,or unusually good value for the money 
C)  Focusing on a broad buyer segment and offering buyers a very low cost and highly customized attributes that meet their specialized needs better than rivals' products 
D)  Focusing on a narrow market niche and winning a competitive edge by doing a better job than rivals of satisfying the needs and tastes of buyers comprising the niche 
E)  Developing a cost advantage based on offering more value for the money

Question 12

What is the connection between a company's strategy and its quest for sustainable competitive advantage?

Accepted Answer

The central features of a strategy are t

Question 13

A well-establisher retail house offers lower-priced commodities to powerful buyers at widespread locations and has loyal suppliers that supply mass goods to the retailer.With fewer ways to achieve differentiation in the market,most other rivals offer similar products but lack sufficient funding to compete against the retail house.Which strategy has the house employed? Explain your answer.

Accepted Answer

The house aims to achieve a cost-based a

Question 14

It is normal for a company's strategy to end up being:

Accepted Answer

A)  a blend of offensive actions on the part of managers to improve the company's profitability and defensive moves to counteract changing market conditions. 
B)  a combination of conservative moves to protect the company's market share and somewhat more risky initiatives to set the company's product offering apart from rivals. 
C)  a close imitation of the strategy employed by the recognized industry leader. 
D)  a blend of proactive actions to improve the company's competitiveness and financial performance,and adaptive reactions to unanticipated developments and fresh market conditions. 
E)  more a product of clever entrepreneurship than of efforts to clearly set a company's product/service offering apart from the offerings of rivals. 
A)  a blend of offensive actions on the part of managers to improve the company's profitability and defensive moves to counteract changing market conditions. 
B)  a combination of conservative moves to protect the company's market share and somewhat more risky initiatives to set the company's product offering apart from rivals. 
C)  a close imitation of the strategy employed by the recognized industry leader. 
D)  a blend of proactive actions to improve the company's competitiveness and financial performance,and adaptive reactions to unanticipated developments and fresh market conditions. 
E)  more a product of clever entrepreneurship than of efforts to clearly set a company's product/service offering apart from the offerings of rivals.

Question 15

What is strategy and why is it important?

Accepted Answer

A company's strategy is the set of actio

Question 16

What separates a powerful strategy from a run-of-the-mill or ineffective one is:

Accepted Answer

A)  the ability of the strategy to keep the company profitable. 
B)  the proven ability of the strategy to generate maximum profits. 
C)  the speed with which it helps the company achieve its strategic vision. 
D)  management's ability to forge a series of actions,both in the marketplace and internally,that sets the company apart from rivals,and produces sustainable competitive advantage. 
E)  whether it allows the company to maximize shareholder value in the shortest possible time. 
A)  the ability of the strategy to keep the company profitable. 
B)  the proven ability of the strategy to generate maximum profits. 
C)  the speed with which it helps the company achieve its strategic vision. 
D)  management's ability to forge a series of actions,both in the marketplace and internally,that sets the company apart from rivals,and produces sustainable competitive advantage. 
E)  whether it allows the company to maximize shareholder value in the shortest possible time.

Question 17

Easy DriveIn,a fast food facility,offers products at lower prices than its competitors in the market and has a drive-through-only operation with no indoor seating.What strategy is Easy DriveIn using to gain competitive advantage?

Accepted Answer

A)  A low-cost provider strategy 
B)  A broad differentiation strategy 
C)  A focused low-cost strategy 
D)  A focused differentiation strategy 
E)  A best-cost provider strategy 
A)  A low-cost provider strategy 
B)  A broad differentiation strategy 
C)  A focused low-cost strategy 
D)  A focused differentiation strategy 
E)  A best-cost provider strategy

Question 18

How can one tell a winning strategy from a strategy that is mediocre or a loser?

Accepted Answer

The mark of a winning strategy is strong

Question 19

A search engine giant specializes in all types of search items;provides a free translation feature for 80 different languages;allows users to view ads on previously made related searches;provides suggestive search items to assist the user;allows users to view a collation of related web pages users might want to visit;and provides a faster load time and more accurate hits than its rivals.Which of the following is a profit formula used by the company?

Accepted Answer

A)  Providing a free translation feature for 80 different languages 
B)  Allowing users to view ads on previously made related searches 
C)  Allowing users to view a collation of related web pages users might want to visit 
D)  Providing a faster load time and more accurate hits than its rivals 
E)  Providing suggestive search items based on history of sites visited 
A)  Providing a free translation feature for 80 different languages 
B)  Allowing users to view ads on previously made related searches 
C)  Allowing users to view a collation of related web pages users might want to visit 
D)  Providing a faster load time and more accurate hits than its rivals 
E)  Providing suggestive search items based on history of sites visited

Question 20

A company's business model:

Accepted Answer

A)  concerns the actions and business approaches that will be used to grow the business,conduct operations,and stake a competitor's market position. 
B)  is management's blueprint for how it will generate revenues sufficient to cover costs and yield an attractive profit. 
C)  concerns what combination of moves in the marketplace it plans to make to outcompete rivals. 
D)  deals with how it can simultaneously maximize profits and operate in a socially responsible manner that keeps its prices as low as possible. 
E)  concerns how management plans to pursue strategic objectives,given the larger imperative of meeting or beating its financial performance targets. 
A)  concerns the actions and business approaches that will be used to grow the business,conduct operations,and stake a competitor's market position. 
B)  is management's blueprint for how it will generate revenues sufficient to cover costs and yield an attractive profit. 
C)  concerns what combination of moves in the marketplace it plans to make to outcompete rivals. 
D)  deals with how it can simultaneously maximize profits and operate in a socially responsible manner that keeps its prices as low as possible. 
E)  concerns how management plans to pursue strategic objectives,given the larger imperative of meeting or beating its financial performance targets.

A winning strategy must pass which three tests?

A winning strategy is one that:

A beauty products giant that manufactures quality makeup products observes a lot of its hits by college students on its makeup tutorials.It opens another sub-brand that provides low-priced makeup services to college partygoers.Which of the five generic strategies has the company used?

The difference between a company's strategy and a company's business model is that:

Explain in detail what a company's business model entails.

Which of the following is NOT typically a trigger to an evolving strategy?

Should a company's strategy be tightly connected to its quest for competitive advantage? Why or why not? What difference does it make whether a company has a sustainable competitive advantage or not?

Briefly define each of the following terms. a.Sustainable competitive advantage b.Deliberate strategy c.Emergent strategy d.Realized strategy e.Abandoned strategy

A pen manufacturer sells high-quality pens at a very low price but provides pen-specific low-cost refills at a relatively higher price.Explain this business model.

Which of the following is NOT a frequently used strategic approach to set a company apart from rivals and achieve a sustainable competitive advantage?

What is the connection between a company's strategy and its quest for sustainable competitive advantage?

It is normal for a company's strategy to end up being:

What is strategy and why is it important?

What separates a powerful strategy from a run-of-the-mill or ineffective one is:

Easy DriveIn,a fast food facility,offers products at lower prices than its competitors in the market and has a drive-through-only operation with no indoor seating.What strategy is Easy DriveIn using to gain competitive advantage?

How can one tell a winning strategy from a strategy that is mediocre or a loser?

A company's business model:

Charting a Companys Direction: Its Vision, Mission, Objectives, Andstrategy

Evaluating a Companys External Environment

Evaluating a Companys Resources, Capabilities, and Competitiveness

The Five Generic Competitive Strategies

Strengthening a Companys Competitive Position

Strategies for Competing in International Markets

Corporate Strategy

Ethics, Corporate Social Responsibility, Environmental-Sustainability, and Strategy

Building an Organization Capable of Good Strategy Execution

Managing Internal Operations

Corporate Culture and Leadership

Filters

Exam 1: What Is Strategy and Why Is It Important

A winning strategy must pass which three tests?

A winning strategy is one that:

A beauty products giant that manufactures quality makeup products observes a lot of its hits by college students on its makeup tutorials.It opens another sub-brand that provides low-priced makeup services to college partygoers.Which of the five generic strategies has the company used?

The difference between a company's strategy and a company's business model is that:

Explain in detail what a company's business model entails.

Which of the following is NOT typically a trigger to an evolving strategy?

Should a company's strategy be tightly connected to its quest for competitive advantage? Why or why not? What difference does it make whether a company has a sustainable competitive advantage or not?

Briefly define each of the following terms. a.Sustainable competitive advantage b.Deliberate strategy c.Emergent strategy d.Realized strategy e.Abandoned strategy

A pen manufacturer sells high-quality pens at a very low price but provides pen-specific low-cost refills at a relatively higher price.Explain this business model.

Which of the following is NOT a frequently used strategic approach to set a company apart from rivals and achieve a sustainable competitive advantage?

What is the connection between a company's strategy and its quest for sustainable competitive advantage?

It is normal for a company's strategy to end up being:

What is strategy and why is it important?

What separates a powerful strategy from a run-of-the-mill or ineffective one is:

Easy DriveIn,a fast food facility,offers products at lower prices than its competitors in the market and has a drive-through-only operation with no indoor seating.What strategy is Easy DriveIn using to gain competitive advantage?

How can one tell a winning strategy from a strategy that is mediocre or a loser?

A company's business model:

Charting a Companys Direction: Its Vision, Mission, Objectives, Andstrategy

Evaluating a Companys External Environment

Evaluating a Companys Resources, Capabilities, and Competitiveness

The Five Generic Competitive Strategies

Strengthening a Companys Competitive Position

Strategies for Competing in International Markets

Corporate Strategy

Ethics, Corporate Social Responsibility, Environmental-Sustainability, and Strategy

Building an Organization Capable of Good Strategy Execution

Managing Internal Operations

Corporate Culture and Leadership

Filters