Question 1

Which of the following companies would have the LEAST bargaining power with its suppliers?

Accepted Answer

A)  a company that is involved in mass production of goods to cater to its expanding customer base 
B)  a company that actively caters to a broad price-sensitive customer base 
C)  a company that generates high quality product components from easily available raw materials for a broad customer base 
D)  a company whose products are highly popular and easily available across most supermarkets 
E)  a company that offers high-cost specialized products that could be used only by customers of a certain age group 
A)  a company that is involved in mass production of goods to cater to its expanding customer base 
B)  a company that actively caters to a broad price-sensitive customer base 
C)  a company that generates high quality product components from easily available raw materials for a broad customer base 
D)  a company whose products are highly popular and easily available across most supermarkets 
E)  a company that offers high-cost specialized products that could be used only by customers of a certain age group

Question 2

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 3

Identify and briefly describe the four most frequently used strategic approaches to achieving a sustainable competitive advantage. Provide examples.

Accepted Answer

The four most frequently used strategic

Question 4

During a recession, a high-end beverage producer facing strong competition in a saturated market has decided to phase out all its flagship products and introduce a new line of second-label beverages at lower price points in reaction to its falling market share. Would this type of a reactive strategy revive its position? Why or why not?

Accepted Answer

Strategy, at its essence, is about compe

Question 5

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 6

To which of the following firms is the term "repeatedly evolving strategy" MOST applicable?

Accepted Answer

A)  a government agency that makes plans for a set period of time and implements them phase by phase through the tenure 
B)  a mobile company, established in a saturated market, that aims at quarterly release of new products 
C)  a new cosmetics manufacturer in a market that replicates the products of a competitor at a moderate quality and lower price 
D)  a nationalized bank that lends at a lower interest rate but a zero processing fee in a market crowded with privatized banks running at high cost 
E)  a firearms regulatory agency, set up by the government, that publishes industry standards for safety, reliability, and quality of arms and ammunition 
A)  a government agency that makes plans for a set period of time and implements them phase by phase through the tenure 
B)  a mobile company, established in a saturated market, that aims at quarterly release of new products 
C)  a new cosmetics manufacturer in a market that replicates the products of a competitor at a moderate quality and lower price 
D)  a nationalized bank that lends at a lower interest rate but a zero processing fee in a market crowded with privatized banks running at high cost 
E)  a firearms regulatory agency, set up by the government, that publishes industry standards for safety, reliability, and quality of arms and ammunition

Question 7

Which of the following is NOT typically a trigger to an evolving strategy?

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)  the need to respond to short-term swings in the stock market 
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)  the need to respond to short-term swings in the stock market

Question 8

A fashion magazine plans to cuts down on its fashion-related content and provides the space instead for high-priced advertisements, but somehow fails to convince giant fashion brands to advertise in its magazine. What do we understand from this failure?

Accepted Answer

Utilizing space for advertisements was a

Question 9

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

Accepted Answer

At the core of every sound strategy is t

Question 10

Good strategy combined with good strategy execution

Accepted Answer

A)  offers a surefire guarantee for avoiding periods of weak financial performance. 
B)  is the best sign that a company is a true industry leader. 
C)  is a more important management function than forming a strategic vision combined with setting objectives. 
D)  is the clearest indicator of good management. 
E)  signals that a company has the best business model in a market. 
A)  offers a surefire guarantee for avoiding periods of weak financial performance. 
B)  is the best sign that a company is a true industry leader. 
C)  is a more important management function than forming a strategic vision combined with setting objectives. 
D)  is the clearest indicator of good management. 
E)  signals that a company has the best business model in a market.

Question 11

Which of the following firms uses a deliberate strategy?

Accepted Answer

A)  A popular downtown theater that has been staging plays decides to begin booking rock and roll acts. 
B)  An airline company cuts frills in order to cope with increasing fuel prices. 
C)  An IT firm trims jobs during a recession. 
D)  A smartphone company divests its tablet production branch after not gaining market share. 
E)  An online jewelry site discontinues its line of turquoise rings due to lack of demand. 
A)  A popular downtown theater that has been staging plays decides to begin booking rock and roll acts. 
B)  An airline company cuts frills in order to cope with increasing fuel prices. 
C)  An IT firm trims jobs during a recession. 
D)  A smartphone company divests its tablet production branch after not gaining market share. 
E)  An online jewelry site discontinues its line of turquoise rings due to lack of demand.

Question 12

A company's business model

Accepted Answer

A)  concerns the actions and business approaches that will be used to grow the business, conduct operations, and stake a competitor's market position. 
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, and stake a competitor's market position. 
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.

Which of the following companies would have the LEAST bargaining power with its suppliers?

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

Identify and briefly describe the four most frequently used strategic approaches to achieving a sustainable competitive advantage. Provide examples.

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 which of the following firms is the term "repeatedly evolving strategy" MOST applicable?

Which of the following is NOT typically a trigger to an evolving strategy?

A fashion magazine plans to cuts down on its fashion-related content and provides the space instead for high-priced advertisements, but somehow fails to convince giant fashion brands to advertise in its magazine. What do we understand from this failure?

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

Good strategy combined with good strategy execution

Which of the following firms uses a deliberate strategy?

A company's business model

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

Which of the following companies would have the LEAST bargaining power with its suppliers?

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

Identify and briefly describe the four most frequently used strategic approaches to achieving a sustainable competitive advantage. Provide examples.

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 which of the following firms is the term "repeatedly evolving strategy" MOST applicable?

Which of the following is NOT typically a trigger to an evolving strategy?

A fashion magazine plans to cuts down on its fashion-related content and provides the space instead for high-priced advertisements, but somehow fails to convince giant fashion brands to advertise in its magazine. What do we understand from this failure?

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

Good strategy combined with good strategy execution

Which of the following firms uses a deliberate strategy?

A company's business model

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