Exam 1: What Is Strategy and Why Is It Important

A data storage company realizes that its facilities are used most by financial institutions.It capitalizes on the opportunity and starts storing specific financial information only and is now one of the most sought-after financial databases.What strategy has the company employed?

A winning strategy is one that:

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

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

Giving customers more value for the money by satisfying their expectations on key quality features,performance,and/or service attributes while beating their price expectations is a:

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

What is the foremost question in running a business enterprise?

What factors determine whether a strategy can be called a winning strategy?

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

Easy DriveIn,a fast food facility,offers products at lower prices than its competitors in the market and has a drive-through-only operation with no indoor seating.What strategy is Easy DriveIn using to gain competitive advantage?

A computer chip manufacturing giant decides to outsource its operations to a new geographical location with cheaper labor amidst ongoing labor strikes in a few of its existing locations (due to proposed job cuts).This draws criticism in its new market and affects its current market position and productivity.Which of the following would be an appropriate reactive (emergent)strategy while moving forward?

Which of the following pizza firms competing in a crowded market likely offers the best value proposition to its customers,based on the following sales pitches?

The heart and soul of a company's strategy-making effort is determining how to:

A pharmaceutical giant acquires a manufacturer of rare specialty drugs to improve its falling share prices and invests all its wealth into the deal.Due to a deficit,it agrees to do a joint venture for the acquisition and involves a major automobile giant to fund the deal.After a rocky start,the companies now have a strong market position and generate good profits.Which of the following regarding the company's strategy is true?

A middle-class customer (target)base in a region is most concerned with quality and price of products.Which of the following would be considered a best value proposition for the customers?

Why is it important to craft a business model?

A winning strategy must pass which three tests?

Crafting a deliberate strategy involves developing strategy elements that:

A pharmaceutical company functioning in France for the last 10 years has moderate sales in a crowded market with competitors offering drugs with similar efficacy and safety precautions,but with better sales.The greatest challenge is to increase the prescription of their drugs.What would be the MOST effective strategy to improve sales performance in the existing market?

Adapting to new conditions like new innovations by competitors,fast-changing technological developments,and constantly evaluating what is working result in: