Question 1

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 buyer wants and needs at a price customers will consider a good value. 
E)  None of these. 
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 buyer wants and needs at a price customers will consider a good value. 
E)  None of these.

Question 2

Winning a sustainable competitive edge over competitors generally hinges on which of the following?

Accepted Answer

A)  Having a distinctive competitive product offering. 
B)  Building competitively valuable expertise and capabilities not readily matched,and offering a distinctive product offering. 
C)  Building experience,know-how,and specialized capabilities that have been perfected over a long period of time. 
D)  Having "hard to beat" capabilities and impressive product innovation. 
E)  All of these. 
A)  Having a distinctive competitive product offering. 
B)  Building competitively valuable expertise and capabilities not readily matched,and offering a distinctive product offering. 
C)  Building experience,know-how,and specialized capabilities that have been perfected over a long period of time. 
D)  Having "hard to beat" capabilities and impressive product innovation. 
E)  All of these.

Question 3

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

The answer of Should a company's strategy be tightly connected...

Question 4

Why is it appropriate to argue that good strategy-making combined with good strategy execution are valid signs of good management?

Accepted Answer

The answer of Why is it appropriate to argue that...

Question 5

A company's strategies stand a better chance of succeeding when:

Accepted Answer

A)  it is developed through a collaborative process involving all managers and staff from all levels of the organization. 
B)  managers employ conservative strategic moves based on past experience and form an underlying basis of control. 
C)  it is predicated on competitive moves aimed at appealing to buyers in ways that set the company apart from rivals. 
D)  managers copy the strategic moves of successful companies in its industry. 
E)  managers focus on meeting or beating shareholder expectations. 
A)  it is developed through a collaborative process involving all managers and staff from all levels of the organization. 
B)  managers employ conservative strategic moves based on past experience and form an underlying basis of control. 
C)  it is predicated on competitive moves aimed at appealing to buyers in ways that set the company apart from rivals. 
D)  managers copy the strategic moves of successful companies in its industry. 
E)  managers focus on meeting or beating shareholder expectations.

Question 6

A company's strategy concerns:

Accepted Answer

A)  the market focus and plans for offering a more appealing product than rivals. 
B)  how it plans to make money in its chosen business. 
C)  management's action plan for outperforming competitors and achieving superior profitability. 
D)  the long-term direction that management believes the company should pursue. 
E)  whether it is employing an aggressive offense to gain market share or a conservative defense to protect its market position. 
A)  the market focus and plans for offering a more appealing product than rivals. 
B)  how it plans to make money in its chosen business. 
C)  management's action plan for outperforming competitors and achieving superior profitability. 
D)  the long-term direction that management believes the company should pursue. 
E)  whether it is employing an aggressive offense to gain market share or a conservative defense to protect its market position.

Question 7

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 8

Excellent execution of an excellent strategy is:

Accepted Answer

A)  the best test of managerial excellence and the best recipe for making a company a standout performer. 
B)  a solid indication that managers are maximizing profits and looking out for the best interests of shareholders. 
C)  the best test of whether a company is a "true" industry leader. 
D)  the best evidence that managers have a winning business model. 
E)  the best test of whether a company enjoys sustainable competitive advantage. 
A)  the best test of managerial excellence and the best recipe for making a company a standout performer. 
B)  a solid indication that managers are maximizing profits and looking out for the best interests of shareholders. 
C)  the best test of whether a company is a "true" industry leader. 
D)  the best evidence that managers have a winning business model. 
E)  the best test of whether a company enjoys sustainable competitive advantage.

Question 9

Explain why a company's strategy cannot be completely planned out in advance and why crafting a company's strategy cannot be a one-time,once-and-for-all managerial exercise.Identify at least three factors that account for why company strategies evolve.

Accepted Answer

The answer of Explain why a company's strategy cannot be...

Question 10

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

Accepted Answer

The answer of Why is sustainable competitive advantage so important...

Question 11

A company's strategy evolves over time as a consequence of:

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)  All of these. 
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)  All of these.

Question 12

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

Accepted Answer

A)  grow the business,stake out a market position,attract and please customers,compete successfully,conduct operations,and achieve performance objectives. 
B)  compete against rivals and establish a sustainable competitive advantage. 
C)  make its product offering more distinctive and appealing to buyers. 
D)  develop a more appealing business model than rivals. 
E)  identify its strategic vision,its strategic objectives,and its strategic intent. 
A)  grow the business,stake out a market position,attract and please customers,compete successfully,conduct operations,and achieve performance objectives. 
B)  compete against rivals and establish a sustainable competitive advantage. 
C)  make its product offering more distinctive and appealing to buyers. 
D)  develop a more appealing business model than rivals. 
E)  identify its strategic vision,its strategic objectives,and its strategic intent.

Question 13

A company achieves a competitive advantage when:

Accepted Answer

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

Question 14

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

Accepted Answer

The answer of Explain in detail what a company's business...

Question 15

The heart and soul of a company's strategy-making effort:

Accepted Answer

A)  is figuring out how to become the industry's low-cost provider. 
B)  is figuring out how to maximize the profits and shareholder value. 
C)  concerns how to improve the efficiency of its business model. 
D)  deals with how management plans to maximize profits while simultaneously operating in a socially responsible manner that keeps the company's prices as low as possible. 
E)  involves coming up with moves and actions that produce a durable competitive edge over rivals. 
A)  is figuring out how to become the industry's low-cost provider. 
B)  is figuring out how to maximize the profits and shareholder value. 
C)  concerns how to improve the efficiency of its business model. 
D)  deals with how management plans to maximize profits while simultaneously operating in a socially responsible manner that keeps the company's prices as low as possible. 
E)  involves coming up with moves and actions that produce a durable competitive edge over rivals.

Question 16

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

Accepted Answer

The answer of What is the connection between a company's...

Question 17

Managers must be prepared to modify their strategy in response to:

Accepted Answer

A)  changing circumstances that affect performance and their 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)  All of these. 
A)  changing circumstances that affect performance and their 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)  All of these.

Question 18

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 Advantage 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 Advantage 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 19

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

Accepted Answer

The answer of Good strategy + good strategy execution =...

Question 20

Which of the following questions tests the merits of the firm's strategy and distinguishes it as a winning strategy?

Accepted Answer

A)  Is the company's strategy ethical and socially responsible and does it put enough emphasis on good product quality and good customer service? 
B)  Is the company putting too little emphasis on growth and profitability and too much emphasis on behaving in an ethical and socially responsible manner? 
C)  Is the strategy resulting in the development of additional competitive capabilities? 
D)  Is the strategy helping the company achieve a sustainable competitive advantage and is it resulting in better company performance? 
E)  Does the strategy strike a good balance between maximizing shareholder wealth and maximizing customer satisfaction? 
A)  Is the company's strategy ethical and socially responsible and does it put enough emphasis on good product quality and good customer service? 
B)  Is the company putting too little emphasis on growth and profitability and too much emphasis on behaving in an ethical and socially responsible manner? 
C)  Is the strategy resulting in the development of additional competitive capabilities? 
D)  Is the strategy helping the company achieve a sustainable competitive advantage and is it resulting in better company performance? 
E)  Does the strategy strike a good balance between maximizing shareholder wealth and maximizing customer satisfaction?

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

Winning a sustainable competitive edge over competitors generally hinges on which of the following?

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?

Why is it appropriate to argue that good strategy-making combined with good strategy execution are valid signs of good management?

A company's strategies stand a better chance of succeeding when:

A company's strategy concerns:

A winning strategy is one that:

Excellent execution of an excellent strategy is:

Explain why a company's strategy cannot be completely planned out in advance and why crafting a company's strategy cannot be a one-time,once-and-for-all managerial exercise.Identify at least three factors that account for why company strategies evolve.

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

A company's strategy evolves over time as a consequence of:

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

A company achieves a competitive advantage when:

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

The heart and soul of a company's strategy-making effort:

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

Managers must be prepared to modify their strategy in response to:

A winning strategy must pass which three tests?

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

Which of the following questions tests the merits of the firm's strategy and distinguishes it as a winning strategy?

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

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

Winning a sustainable competitive edge over competitors generally hinges on which of the following?

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?

Why is it appropriate to argue that good strategy-making combined with good strategy execution are valid signs of good management?

A company's strategies stand a better chance of succeeding when:

A company's strategy concerns:

A winning strategy is one that:

Excellent execution of an excellent strategy is:

Explain why a company's strategy cannot be completely planned out in advance and why crafting a company's strategy cannot be a one-time,once-and-for-all managerial exercise.Identify at least three factors that account for why company strategies evolve.

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

A company's strategy evolves over time as a consequence of:

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

A company achieves a competitive advantage when:

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

The heart and soul of a company's strategy-making effort:

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

Managers must be prepared to modify their strategy in response to:

A winning strategy must pass which three tests?

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

Which of the following questions tests the merits of the firm's strategy and distinguishes it as a winning strategy?

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