Question 1

Good strategy + good strategy execution = good management.True or false? Justify and explain your answer.

Accepted Answer

This is true.Good strategy and good stra

Question 2

A company's strategy and its quest for competitive advantage are tightly connected because:

Accepted Answer

A)  without a competitive advantage a company cannot become the industry leader. 
B)  without a competitive advantage a company cannot have a profitable business model. 
C)  crafting a strategy that yields a competitive advantage over rivals is a company's most reliable means of achieving above-average profitability and financial performance. 
D)  a competitive advantage is what enables a company to achieve its strategic objectives. 
E)  how a company goes about trying to please customers and outcompete rivals is what enables senior managers to choose an appropriate strategic vision for the company. 
A)  without a competitive advantage a company cannot become the industry leader. 
B)  without a competitive advantage a company cannot have a profitable business model. 
C)  crafting a strategy that yields a competitive advantage over rivals is a company's most reliable means of achieving above-average profitability and financial performance. 
D)  a competitive advantage is what enables a company to achieve its strategic objectives. 
E)  how a company goes about trying to please customers and outcompete rivals is what enables senior managers to choose an appropriate strategic vision for the company.

Question 3

Managers must be prepared to modify their strategy in response to all of the following EXCEPT:

Accepted Answer

A)  changing circumstances that affect performance and the desire to improve the current strategy. 
B)  competitor moves in the market and shifting needs of buyers. 
C)  stagnating market and restrictive industrial opportunities. 
D)  mounting evidence that the strategy is less effective. 
E)  public pronouncements from rivals about monthly profit margins. 
A)  changing circumstances that affect performance and the desire to improve the current strategy. 
B)  competitor moves in the market and shifting needs of buyers. 
C)  stagnating market and restrictive industrial opportunities. 
D)  mounting evidence that the strategy is less effective. 
E)  public pronouncements from rivals about monthly profit margins.

Question 4

Why is it important to craft a business model?

Accepted Answer

A)  Because it sets forth management's game plan for maximizing profits for shareholders 
B)  Because it details exactly how management's strategy will result in the achievement of the company's strategic intent 
C)  Because it is a part of an operating model that focuses on delivering excellence and creating value for external shareholders and internal labor force 
D)  Because it sets forth the key components of the enterprise's business approach,indicates how revenues will be generated,and makes a case for why the strategy can deliver value to customers in a profitable manner 
E)  Because it sets forth management's long-term action plan to match the business standards set by formidable rivals 
A)  Because it sets forth management's game plan for maximizing profits for shareholders 
B)  Because it details exactly how management's strategy will result in the achievement of the company's strategic intent 
C)  Because it is a part of an operating model that focuses on delivering excellence and creating value for external shareholders and internal labor force 
D)  Because it sets forth the key components of the enterprise's business approach,indicates how revenues will be generated,and makes a case for why the strategy can deliver value to customers in a profitable manner 
E)  Because it sets forth management's long-term action plan to match the business standards set by formidable rivals

Question 5

Consider the following three companies and their strategies.
)Company A is an established database management company that acquires a well-reputed but small publishing house to enter the booming publishing industry.
)Company B,a sports management house,declared bankruptcy during a recent recession but now has created a television network that airs regional sports events.
)Company C,a package delivery business,is a startup based on delivery efficiency models created by a few students,and delivers almost all kinds of packages.
Which of the following describes the use of strategies by these companies accurately?

Accepted Answer

A)  Company B employs an emergent strategy,whereas Companies A and C employ deliberate strategies. 
B)  All three companies employ deliberate strategies. 
C)  All three companies employ emergent strategies. 
D)  Company C employs a deliberate strategy,Companies A and B employ emergent strategy. 
E)  Companies A and C employ emergent strategies,Company B employs a deliberate strategy. 
A)  Company B employs an emergent strategy,whereas Companies A and C employ deliberate strategies. 
B)  All three companies employ deliberate strategies. 
C)  All three companies employ emergent strategies. 
D)  Company C employs a deliberate strategy,Companies A and B employ emergent strategy. 
E)  Companies A and C employ emergent strategies,Company B employs a deliberate strategy.

Question 6

A company achieves a competitive advantage when it:

Accepted Answer

A)  provides buyers with superior value compared to rival sellers or offers the same value at a lower cost. 
B)  has a profitable business model. 
C)  is able to maximize shareholder wealth. 
D)  is consistently able to achieve both its strategic and financial objectives. 
E)  has a strategy well-matched to its business model. 
A)  provides buyers with superior value compared to rival sellers or offers the same value at a lower cost. 
B)  has a profitable business model. 
C)  is able to maximize shareholder wealth. 
D)  is consistently able to achieve both its strategic and financial objectives. 
E)  has a strategy well-matched to its business model.

Question 7

Troopline Inc. ,an online laptop retailer,sells laptops of similar range and features as other online laptop retailers.Which of the value propositions would NOT benefit the company?

Accepted Answer

A)  Providing free delivery of purchased laptops 
B)  Allowing customers to pay through gift coupons 
C)  Updating the site with better high-resolution pictures of laptops 
D)  Providing mobile friendly version of the site and compatible apps for mobile users 
E)  Establishing a comparison feature tab that allows customers to compare offerings from other online retailers 
A)  Providing free delivery of purchased laptops 
B)  Allowing customers to pay through gift coupons 
C)  Updating the site with better high-resolution pictures of laptops 
D)  Providing mobile friendly version of the site and compatible apps for mobile users 
E)  Establishing a comparison feature tab that allows customers to compare offerings from other online retailers

Question 8

To improve performance,there are many different avenues for outcompeting rivals such as:

Accepted Answer

A)  realizing a higher cost structure and lower operating profit margins than rivals in order to drive sales growth. 
B)  creating products analogous with competitors so as to be competitive in the same markets. 
C)  pursuing similar personalized customer service or quality dimensions as rivals. 
D)  confining operations to local or regional markets or developing product superiority or concentrating on a narrow product lineup. 
E)  strengthening competitiveness by restricting strategic alliances and collaborative partnerships when compared to rivals. 
A)  realizing a higher cost structure and lower operating profit margins than rivals in order to drive sales growth. 
B)  creating products analogous with competitors so as to be competitive in the same markets. 
C)  pursuing similar personalized customer service or quality dimensions as rivals. 
D)  confining operations to local or regional markets or developing product superiority or concentrating on a narrow product lineup. 
E)  strengthening competitiveness by restricting strategic alliances and collaborative partnerships when compared to rivals.

Question 9

Every strategy needs:

Accepted Answer

A)  a distinctive element that attracts customers and produces a competitive edge. 
B)  to include similar characteristics to rival company strategies. 
C)  to pursue conservative growth built on historical strengths. 
D)  to employ diverse and sundry operating practices for producing greater control over sales growth targets. 
E)  to mimic the plans of the industry's most successful companies. 
A)  a distinctive element that attracts customers and produces a competitive edge. 
B)  to include similar characteristics to rival company strategies. 
C)  to pursue conservative growth built on historical strengths. 
D)  to employ diverse and sundry operating practices for producing greater control over sales growth targets. 
E)  to mimic the plans of the industry's most successful companies.

Question 10

A company's realized strategy evolves from one version to the next due to:

Accepted Answer

A)  changing management direction because of understanding several appealing strategy alternatives. 
B)  the proactive efforts of company managers to improve the current strategy,a need to respond to changing customer requirements and expectations,and a need to react to fresh strategic maneuvers on the part of rival firms. 
C)  ongoing turnover in the managerial and executive ranks (new managers often decide to shift to a different strategy). 
D)  pressures from shareholders to boost profit margins and pay higher dividends. 
E)  the importance of keeping the company's business model fresh and up-to-date. 
A)  changing management direction because of understanding several appealing strategy alternatives. 
B)  the proactive efforts of company managers to improve the current strategy,a need to respond to changing customer requirements and expectations,and a need to react to fresh strategic maneuvers on the part of rival firms. 
C)  ongoing turnover in the managerial and executive ranks (new managers often decide to shift to a different strategy). 
D)  pressures from shareholders to boost profit margins and pay higher dividends. 
E)  the importance of keeping the company's business model fresh and up-to-date.

Question 11

A creative and distinctive strategy that sets a company apart from rivals and that gives it a sustainable competitive advantage:

Accepted Answer

A)  is a reliable indicator that the company has a socially responsible business model. 
B)  is achievable in emerging but not mature industries. 
C)  is a company's most reliable ticket to above-average profitability. 
D)  signals that the company has a bold,ambitious strategic intent that places the achievement of strategic objectives ahead of the achievement of financial objectives. 
E)  is the best indicator that the company's strategy and business model are well-matched and properly synchronized. 
A)  is a reliable indicator that the company has a socially responsible business model. 
B)  is achievable in emerging but not mature industries. 
C)  is a company's most reliable ticket to above-average profitability. 
D)  signals that the company has a bold,ambitious strategic intent that places the achievement of strategic objectives ahead of the achievement of financial objectives. 
E)  is the best indicator that the company's strategy and business model are well-matched and properly synchronized.

Question 12

An established organization is fast losing its market share to companies that offer similar products and are upgrading their capabilities to produce better products.List a few general actions and approaches that would help the organization revive its position.

Accepted Answer

The organization might employ various ap

Question 13

Which of the following statements about a company's strategy is true?

Accepted Answer

A)  A company's strategy is mostly hidden to outside view and is deliberately kept under wraps by top-level managers (so as to catch rival companies by surprise when the strategy is launched). 
B)  A company's strategy is typically planned well in advance and usually deviates little from the planned set of actions and business approaches because of the risks of making on-the-spot changes. 
C)  A company's strategy generally changes very little over time unless a newly appointed CEO decides to take the company in a new direction with a new strategy. 
D)  A company's strategy is typically a blend of proactive and reactive strategy elements. 
E)  A company's strategy is developed mostly on the fly because of the constant efforts of managers to come up with fresh moves to keep the company's product offering clearly different and set apart from the product offerings of rival companies. 
A)  A company's strategy is mostly hidden to outside view and is deliberately kept under wraps by top-level managers (so as to catch rival companies by surprise when the strategy is launched). 
B)  A company's strategy is typically planned well in advance and usually deviates little from the planned set of actions and business approaches because of the risks of making on-the-spot changes. 
C)  A company's strategy generally changes very little over time unless a newly appointed CEO decides to take the company in a new direction with a new strategy. 
D)  A company's strategy is typically a blend of proactive and reactive strategy elements. 
E)  A company's strategy is developed mostly on the fly because of the constant efforts of managers to come up with fresh moves to keep the company's product offering clearly different and set apart from the product offerings of rival companies.

Question 14

Crafting a deliberate strategy involves developing strategy elements that:

Accepted Answer

A)  imitate as much of the market leader's strategy as possible so as not to end up at a competitive disadvantage. 
B)  comprise a five-year strategic plan that is then fine-tuned during the remainder of the plan period;big changes in strategy are thus made only once every five years. 
C)  consist of a blend of proactive new planned initiatives plus ongoing strategy elements continued from prior periods. 
D)  deliberately eliminate the ongoing strategic elements and implement new planned initiatives. 
E)  consist of adaptive change plans to new market situations along with abandoned redundant ongoing elements. 
A)  imitate as much of the market leader's strategy as possible so as not to end up at a competitive disadvantage. 
B)  comprise a five-year strategic plan that is then fine-tuned during the remainder of the plan period;big changes in strategy are thus made only once every five years. 
C)  consist of a blend of proactive new planned initiatives plus ongoing strategy elements continued from prior periods. 
D)  deliberately eliminate the ongoing strategic elements and implement new planned initiatives. 
E)  consist of adaptive change plans to new market situations along with abandoned redundant ongoing elements.

Question 15

A company with strong competition in a saturated market decides to wipe out all its products and introduce a fresh line of products in reaction to its falling shares during recession.Would this type of a reactive strategy revive its position? Why or why not?

Accepted Answer

Strategy,at its essence,is about competi

Question 16

A luxury bathtub manufacturer offered scented bubble bath foams and massage coupons as a gimmick when their bathtubs did not sell.Their bubble foam became famous among some women and led to a line of exclusive bath products for women.They established shops in various regional locations and roped in celebrities to market their products to enhance sales.Now its products are sold through retail outlets and online sites throughout the world.Which of the following is accurate?

Accepted Answer

A)  Offering scented bubble bath foams and massage coupons was an emergent strategy. 
B)  Creating a sub-brand that offered exclusive bath products for women was an emergent strategy. 
C)  Establishing shops in regional locations was an emergent strategy. 
D)  Roping in celebrities to market their products was an emergent strategy. 
E)  Creating a worldwide presence through retail outlets and online sites was an emergent strategy. 
A)  Offering scented bubble bath foams and massage coupons was an emergent strategy. 
B)  Creating a sub-brand that offered exclusive bath products for women was an emergent strategy. 
C)  Establishing shops in regional locations was an emergent strategy. 
D)  Roping in celebrities to market their products was an emergent strategy. 
E)  Creating a worldwide presence through retail outlets and online sites was an emergent strategy.

Question 17

The customer value proposition lays out the company's approach to:

Accepted Answer

A)  meeting profitability guidelines without the risk of losing customers. 
B)  operating efficiently given the current level of customers. 
C)  embracing rival company approaches to gaining customers. 
D)  satisfying customer wants and needs at a price customers will consider a good value. 
E)  assuring that the company makes enough profits based on its per-unit cost. 
A)  meeting profitability guidelines without the risk of losing customers. 
B)  operating efficiently given the current level of customers. 
C)  embracing rival company approaches to gaining customers. 
D)  satisfying customer wants and needs at a price customers will consider a good value. 
E)  assuring that the company makes enough profits based on its per-unit cost.

Question 18

A company's strategy consists of the action plan management is taking to:

Accepted Answer

A)  stake out a unique market position and achieve superior profitability. 
B)  compete against rivals and establish a transitory competitive advantage. 
C)  concentrate on improving the existing product offering irrespective of the changing and turbulent markets. 
D)  develop a more appealing business model than rivals. 
E)  identify its strategic vision,its strategic objectives,and its strategic intent. 
A)  stake out a unique market position and achieve superior profitability. 
B)  compete against rivals and establish a transitory competitive advantage. 
C)  concentrate on improving the existing product offering irrespective of the changing and turbulent markets. 
D)  develop a more appealing business model than rivals. 
E)  identify its strategic vision,its strategic objectives,and its strategic intent.

Question 19

A company's strategy in toto that tends to be a combination of proactive and reactive elements is known as its:

Accepted Answer

A)  realized strategy. 
B)  emergent strategy. 
C)  deliberate strategy 
D)  visionary strategy. 
E)  abandoned strategy. 
A)  realized strategy. 
B)  emergent strategy. 
C)  deliberate strategy 
D)  visionary strategy. 
E)  abandoned strategy.

Question 20

Why is sustainable competitive advantage so important to a winning business strategy?

Accepted Answer

Strategies that fail to achieve a durabl

Good strategy + good strategy execution = good management.True or false? Justify and explain your answer.

A company's strategy and its quest for competitive advantage are tightly connected because:

Managers must be prepared to modify their strategy in response to all of the following EXCEPT:

Why is it important to craft a business model?

A company achieves a competitive advantage when it:

Troopline Inc. ,an online laptop retailer,sells laptops of similar range and features as other online laptop retailers.Which of the value propositions would NOT benefit the company?

To improve performance,there are many different avenues for outcompeting rivals such as:

Every strategy needs:

A company's realized strategy evolves from one version to the next due to:

A creative and distinctive strategy that sets a company apart from rivals and that gives it a sustainable competitive advantage:

An established organization is fast losing its market share to companies that offer similar products and are upgrading their capabilities to produce better products.List a few general actions and approaches that would help the organization revive its position.

Which of the following statements about a company's strategy is true?

Crafting a deliberate strategy involves developing strategy elements that:

A company with strong competition in a saturated market decides to wipe out all its products and introduce a fresh line of products in reaction to its falling shares during recession.Would this type of a reactive strategy revive its position? Why or why not?

The customer value proposition lays out the company's approach to:

A company's strategy consists of the action plan management is taking to:

A company's strategy in toto that tends to be a combination of proactive and reactive elements is known as its:

Why is sustainable competitive advantage so important to a winning business strategy?

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

Good strategy + good strategy execution = good management.True or false? Justify and explain your answer.

A company's strategy and its quest for competitive advantage are tightly connected because:

Managers must be prepared to modify their strategy in response to all of the following EXCEPT:

Why is it important to craft a business model?

A company achieves a competitive advantage when it:

Troopline Inc. ,an online laptop retailer,sells laptops of similar range and features as other online laptop retailers.Which of the value propositions would NOT benefit the company?

To improve performance,there are many different avenues for outcompeting rivals such as:

Every strategy needs:

A company's realized strategy evolves from one version to the next due to:

A creative and distinctive strategy that sets a company apart from rivals and that gives it a sustainable competitive advantage:

An established organization is fast losing its market share to companies that offer similar products and are upgrading their capabilities to produce better products.List a few general actions and approaches that would help the organization revive its position.

Which of the following statements about a company's strategy is true?

Crafting a deliberate strategy involves developing strategy elements that:

A company with strong competition in a saturated market decides to wipe out all its products and introduce a fresh line of products in reaction to its falling shares during recession.Would this type of a reactive strategy revive its position? Why or why not?

The customer value proposition lays out the company's approach to:

A company's strategy consists of the action plan management is taking to:

A company's strategy in toto that tends to be a combination of proactive and reactive elements is known as its:

Why is sustainable competitive advantage so important to a winning business strategy?

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