Question 1

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

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 2

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 3

Which of the following consumer goods companies does NOT pursue the same business model?

Accepted Answer

A)  Dell laptops 
B)  Gillette razors 
C)  Epson printers 
D)  Keurig coffee 
E)  Nintendo Wii 
A)  Dell laptops 
B)  Gillette razors 
C)  Epson printers 
D)  Keurig coffee 
E)  Nintendo Wii

Question 4

Can an organization succeed by pursuing strategies that are "proactive" and "reactive"? Explain.

Accepted Answer

A company's strategy is shaped partly by

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

A dining facility with multiple branches caters to newlywed couples only. The ambience, special live music arrangements for each couple, and privacy of the dining sections have become a rage among newlyweds. Which of the five generic strategies has the company used?

Accepted Answer

The dining facility has used a focus dif

Question 7

Winning a sustainable competitive edge over competitors does NOT hinge 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 distinctive products 
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)  building products and distributing them at low prices to a broad customer base irrespective of manufacturing cost 
A)  having a distinctive competitive product offering 
B)  building competitively valuable expertise and capabilities not readily matched, and offering distinctive products 
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)  building products and distributing them at low prices to a broad customer base irrespective of manufacturing cost

Question 8

A new entrant into the mobile phone market imitates its rivals cellphones feature for feature, but offers its products at a twenty percent discount over its rivals' prices. What can you say about the new entrant's prospects for long-term success?

Accepted Answer

Companies don't get to the top of the in

Question 9

An established manufacturer and marketer of apparel and equipment for competitive sports is fast losing market share to companies that not only offer similar products, but also are upgrading their research and development capabilities to produce better products. List a few general actions and approaches that would help the established company revive its position.

Accepted Answer

The organization might employ various ap

Question 10

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)  being undecided whether or not to concentrate operations on local versus global markets. 
E)  strengthening competitiveness by pursuing strategic alliances and collaborative partnerships. 
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)  being undecided whether or not to concentrate operations on local versus global markets. 
E)  strengthening competitiveness by pursuing strategic alliances and collaborative partnerships.

Question 11

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 adva

Question 12

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)  are consistent with a planned strategy approach. 
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)  are consistent with a planned strategy approach.

Question 13

Which of the following is not an element of a company's business strategy?

Accepted Answer

A)  actions to respond to changing market conditions or other external factors 
B)  actions to strengthen competitiveness via strategic alliances and collaborative partnerships 
C)  actions to strengthen internal capabilities and competitively valuable resources 
D)  actions to manage the functional areas of the business 
E)  management's actions to revise the company's financial and strategic performance targets 
A)  actions to respond to changing market conditions or other external factors 
B)  actions to strengthen competitiveness via strategic alliances and collaborative partnerships 
C)  actions to strengthen internal capabilities and competitively valuable resources 
D)  actions to manage the functional areas of the business 
E)  management's actions to revise the company's financial and strategic performance targets

Question 14

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

Accepted Answer

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

Question 15

Different companies across different industries adopt any one of the five generic strategies to gain competitive advantage. Which of the following is most likely to use a low-cost provider strategy?

Accepted Answer

A)  A fashion clothing line uses sought-after designers and natural fabrics. 
B)  A mortgage company specializes in lending money for second homes. 
C)  An online retailer delivers organic groceries overnight. 
D)  A baby products retailer sells unassembled baby furniture produced in China. 
E)  A dairy products manufacturer uses exotic substitutes to produce lactose-free dairy products. 
A)  A fashion clothing line uses sought-after designers and natural fabrics. 
B)  A mortgage company specializes in lending money for second homes. 
C)  An online retailer delivers organic groceries overnight. 
D)  A baby products retailer sells unassembled baby furniture produced in China. 
E)  A dairy products manufacturer uses exotic substitutes to produce lactose-free dairy products.

Question 16

A creative, distinctive strategy that delivers a sustainable competitive advantage is important because

Accepted Answer

A)  without a competitive advantage a company cannot become the industry leader. 
B)  without a competitive advantage a company is likely to fall into bankruptcy. 
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 is likely to fall into bankruptcy. 
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 17

A company achieves sustainable competitive advantage when

Accepted Answer

A)  it has a profitable business model. 
B)  a sufficiently large number of buyers have a lasting preference for its products or services as compared to the offerings of competitors. 
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 has a profitable business model. 
B)  a sufficiently large number of buyers have a lasting preference for its products or services as compared to the offerings of competitors. 
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 18

Mediocre execution of a powerful strategy is a proven recipe for winning in the marketplace. True or false? Explain your answer.

Accepted Answer

A) True 
 B)False

Question 19

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 an emerging 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 an emerging business model. 
E)  the best test of whether a company enjoys sustainable competitive advantage.

Question 20

An electronic chip manufacturer has a quarterly release of its products. What can you say about its strategy?

Accepted Answer

Industry environments characterized by h

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

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?

Which of the following consumer goods companies does NOT pursue the same business model?

Can an organization succeed by pursuing strategies that are "proactive" and "reactive"? Explain.

A dining facility with multiple branches caters to newlywed couples only. The ambience, special live music arrangements for each couple, and privacy of the dining sections have become a rage among newlyweds. Which of the five generic strategies has the company used?

Winning a sustainable competitive edge over competitors does NOT hinge on which of the following?

A new entrant into the mobile phone market imitates its rivals cellphones feature for feature, but offers its products at a twenty percent discount over its rivals' prices. What can you say about the new entrant's prospects for long-term success?

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

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

Changing circumstances and ongoing managerial efforts to improve the strategy

Which of the following is not an element of a company's business strategy?

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

Different companies across different industries adopt any one of the five generic strategies to gain competitive advantage. Which of the following is most likely to use a low-cost provider strategy?

A creative, distinctive strategy that delivers a sustainable competitive advantage is important because

A company achieves sustainable competitive advantage when

Mediocre execution of a powerful strategy is a proven recipe for winning in the marketplace. True or false? Explain your answer.

Excellent execution of an excellent strategy is

An electronic chip manufacturer has a quarterly release of its products. What can you say about its strategy?

Leading the Process of Crafting and Executing Strategy

Evaluating a Companys External Environment

Evaluating a Companys Resources and Competitive Position

The Five Generic Competitive Strategies: Which One to Employ

Supplementing the Chosen Competitive Strategy: Other Important Business Strategy Choices

Strategies for Competing in Foreign Markets

Diversification: Strategies for Managing a Group of Businesses

Ethical Business Strategies, Social Responsibility, and Environmental Sustainabil ITY

Building an Organization Capable of Good Strategy Execution

Managing Internal Operations: Actions That Promote Good Strategy Execution

Corporate Culture and Leadership: Keys to Good Strategy Execution

Filters

Exam 1: What Is Strategy and Why Is It Important

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

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?

Which of the following consumer goods companies does NOT pursue the same business model?

Can an organization succeed by pursuing strategies that are "proactive" and "reactive"? Explain.

A dining facility with multiple branches caters to newlywed couples only. The ambience, special live music arrangements for each couple, and privacy of the dining sections have become a rage among newlyweds. Which of the five generic strategies has the company used?

Winning a sustainable competitive edge over competitors does NOT hinge on which of the following?

A new entrant into the mobile phone market imitates its rivals cellphones feature for feature, but offers its products at a twenty percent discount over its rivals' prices. What can you say about the new entrant's prospects for long-term success?

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

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

Changing circumstances and ongoing managerial efforts to improve the strategy

Which of the following is not an element of a company's business strategy?

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

Different companies across different industries adopt any one of the five generic strategies to gain competitive advantage. Which of the following is most likely to use a low-cost provider strategy?

A creative, distinctive strategy that delivers a sustainable competitive advantage is important because

A company achieves sustainable competitive advantage when

Mediocre execution of a powerful strategy is a proven recipe for winning in the marketplace. True or false? Explain your answer.

Excellent execution of an excellent strategy is

An electronic chip manufacturer has a quarterly release of its products. What can you say about its strategy?

Leading the Process of Crafting and Executing Strategy

Evaluating a Companys External Environment

Evaluating a Companys Resources and Competitive Position

The Five Generic Competitive Strategies: Which One to Employ

Supplementing the Chosen Competitive Strategy: Other Important Business Strategy Choices

Strategies for Competing in Foreign Markets

Diversification: Strategies for Managing a Group of Businesses

Ethical Business Strategies, Social Responsibility, and Environmental Sustainabil ITY

Building an Organization Capable of Good Strategy Execution

Managing Internal Operations: Actions That Promote Good Strategy Execution

Corporate Culture and Leadership: Keys to Good Strategy Execution

Filters