Question 1

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)  achieving products analogous with competitors so as to be competitive in the same markets. 
C)  pursing similar personalized customer service or quality dimensions as rivals. 
D)  confining their operations to local or regional markets or developing product superiority or even concentrating on a narrow product lineup. 
E)  None of these. 
A)  realizing a higher cost structure and lower operating profit margins than rivals in order to drive sales growth. 
B)  achieving products analogous with competitors so as to be competitive in the same markets. 
C)  pursing similar personalized customer service or quality dimensions as rivals. 
D)  confining their operations to local or regional markets or developing product superiority or even concentrating on a narrow product lineup. 
E)  None of these.

Question 2

What is strategy and why is it important?

Accepted Answer

The answer of What is strategy and why is it...

Question 3

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

Accepted Answer

The answer of How can one tell a winning strategy...

Question 4

Why is a company's strategy partly proactive and partly reactive?

Accepted Answer

The answer of Why is a company's strategy partly proactive...

Question 5

Good strategy combined with good strategy execution:

Accepted Answer

A)  offers a surefire guarantee for avoiding periods of weak financial performance. 
B)  are the two best signs that a company is a true industry leader. 
C)  are more important management functions than forming a strategic vision and setting objectives. 
D)  are the most telling signs of good management. 
E)  signal that a company has a superior business model. 
A)  offers a surefire guarantee for avoiding periods of weak financial performance. 
B)  are the two best signs that a company is a true industry leader. 
C)  are more important management functions than forming a strategic vision and setting objectives. 
D)  are the most telling signs of good management. 
E)  signal that a company has a superior business model.

Question 6

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 7

A company's strategy is most accurately defined as:

Accepted Answer

A)  management's approaches to building revenues,controlling costs and generating an attractive profit. 
B)  the choices management has made regarding what financial plan to pursue. 
C)  management's concept of "who we are,what we do,and where we are headed." 
D)  the business model that a company's board of directors has approved for outcompeting rivals and making the company profitable. 
E)  management's commitment to provide direction and guidance,in terms of not only what the company should do but also what it should not do. 
A)  management's approaches to building revenues,controlling costs and generating an attractive profit. 
B)  the choices management has made regarding what financial plan to pursue. 
C)  management's concept of "who we are,what we do,and where we are headed." 
D)  the business model that a company's board of directors has approved for outcompeting rivals and making the company profitable. 
E)  management's commitment to provide direction and guidance,in terms of not only what the company should do but also what it should not do.

Question 8

The competitive moves and business approaches a company's management is using to grow the business,stake out a market position,attract and please customers,compete successfully,conduct operations,and achieve organizational objectives is referred to as its:

Accepted Answer

A)  strategy. 
B)  mission statement. 
C)  strategic intent. 
D)  business model. 
E)  strategic vision. 
A)  strategy. 
B)  mission statement. 
C)  strategic intent. 
D)  business model. 
E)  strategic vision.

Question 9

Which one of the following does NOT account for WHY a company's strategy evolves from one version to another?

Accepted Answer

A)  A need to promote stability and retain the status quo. 
B)  The need to abandon some strategy elements that are no longer working well. 
C)  A need to respond to changing customer requirements and expectations. 
D)  A need to react to fresh strategic maneuvers on the part of rival firms. 
E)  The proactive efforts of company managers to improve this or that aspect of the strategy. 
A)  A need to promote stability and retain the status quo. 
B)  The need to abandon some strategy elements that are no longer working well. 
C)  A need to respond to changing customer requirements and expectations. 
D)  A need to react to fresh strategic maneuvers on the part of rival firms. 
E)  The proactive efforts of company managers to improve this or that aspect of the strategy.

Question 10

One of the frequently used successful and dependable strategic approaches is:

Accepted Answer

A)  to come up with a distinctive element that builds strong customer loyalty and yields a winning competitive edge. 
B)  to aggressively pursue all of the growth opportunities the company can identify. 
C)  to develop a product/service with more innovative performance features than what rivals are offering and to provide customers with better after-the-sale service. 
D)  to come up with a business model that enables a company to earn bigger profits per unit sold than rivals. 
E)  to charge a lower price than rivals and thereby win sales and market share away from rivals. 
A)  to come up with a distinctive element that builds strong customer loyalty and yields a winning competitive edge. 
B)  to aggressively pursue all of the growth opportunities the company can identify. 
C)  to develop a product/service with more innovative performance features than what rivals are offering and to provide customers with better after-the-sale service. 
D)  to come up with a business model that enables a company to earn bigger profits per unit sold than rivals. 
E)  to charge a lower price than rivals and thereby win sales and market share away from rivals.

Question 11

In the course of crafting a strategy,it is common for management to:

Accepted Answer

A)  abandon certain strategy elements that have grown stale or become obsolete. 
B)  modify the current strategy when market and competitive conditions take an unexpected turn or some aspects of the company's strategy hit a stone wall. 
C)  modify the current strategy in response to the fresh strategic maneuvers of rival firms. 
D)  take proactive actions to improve this or that piece of the strategy. 
E)  All of these. 
A)  abandon certain strategy elements that have grown stale or become obsolete. 
B)  modify the current strategy when market and competitive conditions take an unexpected turn or some aspects of the company's strategy hit a stone wall. 
C)  modify the current strategy in response to the fresh strategic maneuvers of rival firms. 
D)  take proactive actions to improve this or that piece of the strategy. 
E)  All of these.

Question 12

What are the three criteria for determining whether a company has a winning strategy?

Accepted Answer

A winning strategy for a company is typi

Question 13

Crafting and executing strategy are top-priority managerial tasks because:

Accepted Answer

A)  it helps management create tight fits between a company's strategic vision and business model. 
B)  it allows all company personnel,and especially senior executives,to know the answer to "who are we,what do we do,and where are we headed?" 
C)  it is management's prescription for doing business,its roadmap to competitive advantage,a game plan for pleasing customers,and its formula for improving performance. 
D)  it provides clear guidance as to what the company's business model and strategic intent are,and helps keep managerial decision-making from being rudderless. 
E)  it establishes how well executives perform these tasks and are the key determinants of executive compensation. 
A)  it helps management create tight fits between a company's strategic vision and business model. 
B)  it allows all company personnel,and especially senior executives,to know the answer to "who are we,what do we do,and where are we headed?" 
C)  it is management's prescription for doing business,its roadmap to competitive advantage,a game plan for pleasing customers,and its formula for improving performance. 
D)  it provides clear guidance as to what the company's business model and strategic intent are,and helps keep managerial decision-making from being rudderless. 
E)  it establishes how well executives perform these tasks and are the key determinants of executive compensation.

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

Why does a company's strategy tend to evolve over time?

Accepted Answer

The answer of Why does a company's strategy tend to...

Question 16

A company's strategy is a "work in progress" and evolves over time because of:

Accepted Answer

A)  the importance of developing a fresh strategic plan every year (which also has the benefit of keeping employees from becoming bored with executing the same strategy year after year). 
B)  the ongoing need to imitate the new strategic moves of the industry leaders. 
C)  the need to make regular adjustments in the company's strategic vision. 
D)  the ongoing need of company managers to react and respond to changing market and competitive conditions. 
E)  the frequent need to modify key elements of the company's business model. 
A)  the importance of developing a fresh strategic plan every year (which also has the benefit of keeping employees from becoming bored with executing the same strategy year after year). 
B)  the ongoing need to imitate the new strategic moves of the industry leaders. 
C)  the need to make regular adjustments in the company's strategic vision. 
D)  the ongoing need of company managers to react and respond to changing market and competitive conditions. 
E)  the frequent need to modify key elements of the company's business model.

Question 17

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 moves,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 moves,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 18

Strategy is about competing differently than rivals,thus strategy success is about:

Accepted Answer

A)  the sources of sustained advantages and superior profitability. 
B)  those emergent,unplanned,reactive,and adaptive strategies that are more appropriate than deliberate or intended ones that drive the realized strategy. 
C)  matching internal resources and capabilities to the industry environment. 
D)  keeping the firm current with the rapid pace of change in the industry. 
E)  All of these. 
A)  the sources of sustained advantages and superior profitability. 
B)  those emergent,unplanned,reactive,and adaptive strategies that are more appropriate than deliberate or intended ones that drive the realized strategy. 
C)  matching internal resources and capabilities to the industry environment. 
D)  keeping the firm current with the rapid pace of change in the industry. 
E)  All of these.

Question 19

List six things to look for in identifying the components of an organization's strategy.

Accepted Answer

When identifying the components of an or

Question 20

Which of the following is NOT a frequently used strategic approach to setting a company apart from rivals and achieving 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 such differentiating features as higher quality,wider product selection,added performance,better service,more attractive styling,technological superiority,or unusually good value for the money. 
C)  Striving to be more profitable than rivals and aiming for a competitive edge based on bigger profit margins. 
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 an 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 such differentiating features as higher quality,wider product selection,added performance,better service,more attractive styling,technological superiority,or unusually good value for the money. 
C)  Striving to be more profitable than rivals and aiming for a competitive edge based on bigger profit margins. 
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 an advantage based on offering more value for the money.

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

What is strategy and why is it important?

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

Why is a company's strategy partly proactive and partly reactive?

Good strategy combined with good strategy execution:

Every strategy needs:

A company's strategy is most accurately defined as:

The competitive moves and business approaches a company's management is using to grow the business,stake out a market position,attract and please customers,compete successfully,conduct operations,and achieve organizational objectives is referred to as its:

Which one of the following does NOT account for WHY a company's strategy evolves from one version to another?

One of the frequently used successful and dependable strategic approaches is:

In the course of crafting a strategy,it is common for management to:

What are the three criteria for determining whether a company has a winning strategy?

Crafting and executing strategy are top-priority managerial tasks because:

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

Why does a company's strategy tend to evolve over time?

A company's strategy is a "work in progress" and evolves over time because of:

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

Strategy is about competing differently than rivals,thus strategy success is about:

List six things to look for in identifying the components of an organization's strategy.

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

Charting a Companys Direction: Its Vision, Mission, Objectives, and Strategy

Evaluating a Companys External Environment

Evaluating a Companys Resources, Capabilities, and Competitiveness

The Five Generic Competitive Strategies: Which One to Employ

Strengthening a Companys Competitive Position: Strategic Moves, Timing, and Scope of Operations

Strategies for Competing in International Markets

Corporate Strategy: Diversification and the Multibusiness Company

Ethics, corporate Social Responsibility, Environmental Sustainability, and Strategy

Building an Organization Capable of Good Strategy Execution: People, Capabilities, and Structure

Managing Internal Operations: Actions That Promote Good Strategy Execution

Corporate Culture and Leadership: Keys to Good Strategy Execution

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Exam 1: What Is Strategy and Why Is It Important

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

What is strategy and why is it important?

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

Why is a company's strategy partly proactive and partly reactive?

Good strategy combined with good strategy execution:

Every strategy needs:

A company's strategy is most accurately defined as:

The competitive moves and business approaches a company's management is using to grow the business,stake out a market position,attract and please customers,compete successfully,conduct operations,and achieve organizational objectives is referred to as its:

Which one of the following does NOT account for WHY a company's strategy evolves from one version to another?

One of the frequently used successful and dependable strategic approaches is:

In the course of crafting a strategy,it is common for management to:

What are the three criteria for determining whether a company has a winning strategy?

Crafting and executing strategy are top-priority managerial tasks because:

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

Why does a company's strategy tend to evolve over time?

A company's strategy is a "work in progress" and evolves over time because of:

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

Strategy is about competing differently than rivals,thus strategy success is about:

List six things to look for in identifying the components of an organization's strategy.

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

Charting a Companys Direction: Its Vision, Mission, Objectives, and Strategy

Evaluating a Companys External Environment

Evaluating a Companys Resources, Capabilities, and Competitiveness

The Five Generic Competitive Strategies: Which One to Employ

Strengthening a Companys Competitive Position: Strategic Moves, Timing, and Scope of Operations

Strategies for Competing in International Markets

Corporate Strategy: Diversification and the Multibusiness Company

Ethics, corporate Social Responsibility, Environmental Sustainability, and Strategy

Building an Organization Capable of Good Strategy Execution: People, Capabilities, and Structure

Managing Internal Operations: Actions That Promote Good Strategy Execution

Corporate Culture and Leadership: Keys to Good Strategy Execution

Filters