Question 1

What are the three tests of a winning strategy?

Accepted Answer

The answer of What are the three tests of a...

Question 2

A creative 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 profitable business model. 
B)  is every company's strategic vision. 
C)  is a company's most reliable ticket to above-average profitability and a competitive advantage,despite the best efforts of competitors to match or surpass this advantage. 
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 profitable business model. 
B)  is every company's strategic vision. 
C)  is a company's most reliable ticket to above-average profitability and a competitive advantage,despite the best efforts of competitors to match or surpass this advantage. 
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 3

A company's business model:

Accepted Answer

A)  zeros in on the customer value proposition and its related profit formula. 
B)  is management's storyline for how the strategy will result in achieving the targeted strategic objectives. 
C)  details the ethical and socially responsible nature of the company's strategy. 
D)  explains how it intends to achieve high profit margins. 
E)  sets forth the actions and approaches that it will employ to achieve market leadership. 
A)  zeros in on the customer value proposition and its related profit formula. 
B)  is management's storyline for how the strategy will result in achieving the targeted strategic objectives. 
C)  details the ethical and socially responsible nature of the company's strategy. 
D)  explains how it intends to achieve high profit margins. 
E)  sets forth the actions and approaches that it will employ to achieve market leadership.

Question 4

Changing circumstances and ongoing managerial efforts to improve the strategy:

Accepted Answer

A)  account for why a company's strategy evolves over time. 
B)  explain why a company's strategic vision undergoes almost constant change. 
C)  make it very difficult for a company to have concrete strategic objectives. 
D)  make it very hard to know what a company's strategy really is. 
E)  All of these. 
A)  account for why a company's strategy evolves over time. 
B)  explain why a company's strategic vision undergoes almost constant change. 
C)  make it very difficult for a company to have concrete strategic objectives. 
D)  make it very hard to know what a company's strategy really is. 
E)  All of these.

Question 5

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 6

The pattern of actions and business approaches that would NOT define a company's strategy include:

Accepted Answer

A)  actions to strengthen market standing and competitiveness by acquiring or merging.with other companies. 
B)  actions to strengthen competitiveness via strategic coalitions and partnerships. 
C)  actions to upgrade competitively important resources and capabilities. 
D)  actions to gain sales and market share with lower prices despite increased costs. 
E)  actions to strengthen the bargaining position of suppliers and distributors with rivals. 
A)  actions to strengthen market standing and competitiveness by acquiring or merging.with other companies. 
B)  actions to strengthen competitiveness via strategic coalitions and partnerships. 
C)  actions to upgrade competitively important resources and capabilities. 
D)  actions to gain sales and market share with lower prices despite increased costs. 
E)  actions to strengthen the bargaining position of suppliers and distributors with rivals.

Question 7

A company's business model:

Accepted Answer

A)  concerns the actions and business approaches that will be used to grow the business,conduct operations,please customers,and compete successfully. 
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,please customers,and compete successfully. 
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.

Question 8

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

Accepted Answer

A)  they are necessary ingredients of a sound business model. 
B)  good strategy coupled with good strategy execution are the most telling signs of good management and greatly raises the chances that a company will be a standout performer in the marketplace. 
C)  the management skills of top executives are sharpened as they work their way through the strategy-making,strategy-executing process. 
D)  doing these tasks helps executives develop an appropriate strategic vision,strategic intent,and a set of strategic objectives. 
E)  of the contribution they make to maximizing value for shareholders. 
A)  they are necessary ingredients of a sound business model. 
B)  good strategy coupled with good strategy execution are the most telling signs of good management and greatly raises the chances that a company will be a standout performer in the marketplace. 
C)  the management skills of top executives are sharpened as they work their way through the strategy-making,strategy-executing process. 
D)  doing these tasks helps executives develop an appropriate strategic vision,strategic intent,and a set of strategic objectives. 
E)  of the contribution they make to maximizing value for shareholders.

Question 9

Which of the following is NOT one of the managerial considerations in determining how to compete successfully?

Accepted Answer

A)  How can a company attract,keep,and please customers? 
B)  How can the company modify its entire product line to emphasize their internal service attributes? 
C)  How should the company respond to changing economic and market conditions? 
D)  How should the company be competitive against rivals? 
E)  How should the company position itself in the marketplace? 
A)  How can a company attract,keep,and please customers? 
B)  How can the company modify its entire product line to emphasize their internal service attributes? 
C)  How should the company respond to changing economic and market conditions? 
D)  How should the company be competitive against rivals? 
E)  How should the company position itself in the marketplace?

Question 10

Which of the following is 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 product-based competitive advantage. 
B)  Outcompeting rivals on the basis of such differentiating features as same quality,narrower product selection,or same value for the money. 
C)  Developing a best-cost provider strategy that gives the company competitive capabilities so that rivals can easily imitate with capabilities of their own to even the playing field. 
D)  Focusing on a narrow market niche and winning a competitive edge by doing a better job than rivals of serving the special needs and tastes of buyers comprising the niche. 
E)  All of these. 
A)  Striving to be the industry's low-cost provider,thereby aiming for a product-based competitive advantage. 
B)  Outcompeting rivals on the basis of such differentiating features as same quality,narrower product selection,or same value for the money. 
C)  Developing a best-cost provider strategy that gives the company competitive capabilities so that rivals can easily imitate with capabilities of their own to even the playing field. 
D)  Focusing on a narrow market niche and winning a competitive edge by doing a better job than rivals of serving the special needs and tastes of buyers comprising the niche. 
E)  All of these.

What are the three tests of a winning strategy?

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

A company's business model:

Changing circumstances and ongoing managerial efforts to improve the strategy:

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

The pattern of actions and business approaches that would NOT define a company's strategy include:

A company's business model:

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

Which of the following is NOT one of the managerial considerations in determining how to compete successfully?

Which of the following is 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

What are the three tests of a winning strategy?

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

A company's business model:

Changing circumstances and ongoing managerial efforts to improve the strategy:

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

The pattern of actions and business approaches that would NOT define a company's strategy include:

A company's business model:

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

Which of the following is NOT one of the managerial considerations in determining how to compete successfully?

Which of the following is 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