Question 1

A new entrant in a market uses copycat products at its rival at budget prices.What can you say about this company's long-term success?

Accepted Answer

Companies don't get to the top of the in

Question 2

Managers must be prepared to modify their strategy in response to all of the following EXCEPT:

Accepted Answer

A)  changing circumstances that affect performance and the 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)  public pronouncements from rivals about monthly profit margins. 
A)  changing circumstances that affect performance and the 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)  public pronouncements from rivals about monthly profit margins.

Question 3

It is normal for a company's strategy to end up being:

Accepted Answer

A)  a blend of offensive actions on the part of managers to improve the company's profitability and defensive moves to counteract changing market conditions. 
B)  a combination of conservative moves to protect the company's market share and somewhat more risky initiatives to set the company's product offering apart from rivals. 
C)  a close imitation of the strategy employed by the recognized industry leader. 
D)  a blend of proactive actions to improve the company's competitiveness and financial performance, and adaptive reactions to unanticipated developments and fresh market conditions. 
E)  more a product of clever entrepreneurship than of efforts to clearly set a company's product/service offering apart from the offerings of rivals. 
A)  a blend of offensive actions on the part of managers to improve the company's profitability and defensive moves to counteract changing market conditions. 
B)  a combination of conservative moves to protect the company's market share and somewhat more risky initiatives to set the company's product offering apart from rivals. 
C)  a close imitation of the strategy employed by the recognized industry leader. 
D)  a blend of proactive actions to improve the company's competitiveness and financial performance, and adaptive reactions to unanticipated developments and fresh market conditions. 
E)  more a product of clever entrepreneurship than of efforts to clearly set a company's product/service offering apart from the offerings of rivals.

Question 4

Which of the following is NOT a frequently used strategic approach to set a company apart from rivals and achieve a sustainable competitive advantage?

Accepted Answer

A)  Striving to be the industry's low-cost provider 
B)  Outcompeting rivals on the basis of differentiating features that will appeal to a broad spectrum of buyers 
C)  Developing a best-cost provider strategy that gives customers more value for the money 
D)  Focusing on a narrow market niche and serving buyers' special needs and tastes 
E)  Striving to be the industry's high-price provider 
A)  Striving to be the industry's low-cost provider 
B)  Outcompeting rivals on the basis of differentiating features that will appeal to a broad spectrum of buyers 
C)  Developing a best-cost provider strategy that gives customers more value for the money 
D)  Focusing on a narrow market niche and serving buyers' special needs and tastes 
E)  Striving to be the industry's high-price provider

Question 5

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

Accepted Answer

A)  stake out a unique market position and achieve superior profitability. 
B)  compete against rivals and establish a transitory competitive advantage. 
C)  concentrate on improving the existing product offering irrespective of the changing and turbulent markets. 
D)  develop a more appealing business model than rivals. 
E)  identify its strategic vision, its strategic objectives, and its strategic intent. 
A)  stake out a unique market position and achieve superior profitability. 
B)  compete against rivals and establish a transitory competitive advantage. 
C)  concentrate on improving the existing product offering irrespective of the changing and turbulent markets. 
D)  develop a more appealing business model than rivals. 
E)  identify its strategic vision, its strategic objectives, and its strategic intent.

Question 6

Which of the following is NOT a frequently used strategic approach to set a company apart from rivals and achieve a sustainable competitive advantage?

Accepted Answer

A)  Striving to be the industry's low-cost provider, thereby aiming for a cost-based competitive advantage 
B)  Outcompeting rivals on the basis of differentiating features such as higher quality, wider product selection, added performance, better service, more attractive styling, technological superiority, or unusually good value for the money 
C)  Focusing on a broad buyer segment and offering buyers a very low cost and highly customized attributes that meet their specialized needs better than rivals' products 
D)  Focusing on a narrow market niche and winning a competitive edge by doing a better job than rivals of satisfying the needs and tastes of buyers comprising the niche 
E)  Developing a cost advantage based on offering more value for the money 
A)  Striving to be the industry's low-cost provider, thereby aiming for a cost-based competitive advantage 
B)  Outcompeting rivals on the basis of differentiating features such as higher quality, wider product selection, added performance, better service, more attractive styling, technological superiority, or unusually good value for the money 
C)  Focusing on a broad buyer segment and offering buyers a very low cost and highly customized attributes that meet their specialized needs better than rivals' products 
D)  Focusing on a narrow market niche and winning a competitive edge by doing a better job than rivals of satisfying the needs and tastes of buyers comprising the niche 
E)  Developing a cost advantage based on offering more value for the money

Question 7

FaberRoad,a respected courier brand,is fast losing its market share to competitors who do overnight deliveries of packages or offer lower prices.The company's research department has found that many customers care more about knowing exactly when a package will arrive than getting it the next day.Which strategy would best address the current state of FaberRoad and help it regain its market?

Accepted Answer

A)  Employing night delivery drivers at a high cost and maintenance charges 
B)  Developing radio tags that could be attached to packages to allow for real-time tracking by customers' PCs and mobile phones 
C)  Diversifying the different types of packages that can be transported and enabling booking through calls 
D)  Acquiring small transportation companies with cheaper trucks and tempos, rebranding, and using them for deliveries 
E)  Engaging in expensive advertising with new tag lines and famous celebrities to enhance its brand image in the market 
A)  Employing night delivery drivers at a high cost and maintenance charges 
B)  Developing radio tags that could be attached to packages to allow for real-time tracking by customers' PCs and mobile phones 
C)  Diversifying the different types of packages that can be transported and enabling booking through calls 
D)  Acquiring small transportation companies with cheaper trucks and tempos, rebranding, and using them for deliveries 
E)  Engaging in expensive advertising with new tag lines and famous celebrities to enhance its brand image in the market

Question 8

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?

Question 9

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 10

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

Accepted Answer

This is true.Crafting and executing stra

Question 11

Which of the following airlines does NOT employ a low-cost provider strategy?

Accepted Answer

A)  Airline 1 offers low prices on short-distance flights and cuts down on meals during flights. 
B)  Airline 2 offers low prices on long-distance flights and has long service times for its planes between flights. 
C)  Airline 3 offers low prices on short-distance flights and improves flight carrier capacity through addition of seats by reducing distance between existing seats. 
D)  Airline 4 offers low prices on short-distance flights and pays minimum wage rates to the flight crew. 
E)  Airline 5 offers low prices on long-distance flights and charges fees for carry-on as well as checked luggage. 
A)  Airline 1 offers low prices on short-distance flights and cuts down on meals during flights. 
B)  Airline 2 offers low prices on long-distance flights and has long service times for its planes between flights. 
C)  Airline 3 offers low prices on short-distance flights and improves flight carrier capacity through addition of seats by reducing distance between existing seats. 
D)  Airline 4 offers low prices on short-distance flights and pays minimum wage rates to the flight crew. 
E)  Airline 5 offers low prices on long-distance flights and charges fees for carry-on as well as checked luggage.

Question 12

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 13

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

Question 14

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 15

A creative and 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 socially responsible business model. 
B)  is achievable in emerging but not mature industries. 
C)  Is a company's most reliable ticket to above-average profitability. 
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 socially responsible business model. 
B)  is achievable in emerging but not mature industries. 
C)  Is a company's most reliable ticket to above-average profitability. 
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 16

Why is a company's strategy partly proactive and partly reactive?

Accepted Answer

The evolving nature of a company's strat

Question 17

A company's strategy and its quest for competitive advantage are tightly connected because:

Accepted Answer

A)  without a competitive advantage a company cannot become the industry leader. 
B)  without a competitive advantage a company cannot have a profitable business model. 
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 cannot have a profitable business model. 
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 18

A new entrant in a market dominated by established players introduces itself with copycat products of another competitor.Would this strategy work in the long term for the firm? Justify your answer.

Accepted Answer

Mimicking the strategies of successful i

Question 19

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 20

Telsteer Mobil,a smartphone manufacturer,is working on developing its next-generation products.It has decided on a strategy of focusing on a narrow buyer segment and outcompeting rivals by offering buyers customized product features for specialized needs and tastes.What basic strategic approach has Telsteer decided upon?

Accepted Answer

A)  Focused differentiation 
B)  Best-cost provider 
C)  Low-cost provider 
D)  Broad differentiation 
E)  Focused low-cost 
A)  Focused differentiation 
B)  Best-cost provider 
C)  Low-cost provider 
D)  Broad differentiation 
E)  Focused low-cost

A new entrant in a market uses copycat products at its rival at budget prices.What can you say about this company's long-term success?

Managers must be prepared to modify their strategy in response to all of the following EXCEPT:

It is normal for a company's strategy to end up being:

Which of the following is NOT a frequently used strategic approach to set a company apart from rivals and achieve a sustainable competitive advantage?

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

Which of the following is NOT a frequently used strategic approach to set a company apart from rivals and achieve a sustainable competitive advantage?

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

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

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

Which of the following airlines does NOT employ a low-cost provider strategy?

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

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

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

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

Why is a company's strategy partly proactive and partly reactive?

A company's strategy and its quest for competitive advantage are tightly connected because:

A new entrant in a market dominated by established players introduces itself with copycat products of another competitor.Would this strategy work in the long term for the firm? Justify your answer.

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?

Charting a Companys Direction: Its Vision, Mission, Objectives, Andstrategy

Evaluating a Companys External Environment

Evaluating a Companys Resources, Capabilities,and Competitiveness

The Five Generic Competitive Strategies

Strengthening a Companys Competitive Position

Strategies for Competing in International Markets

Corporate Strategy

Ethics, Corporate Social Responsibility, Environmental-Sustainability, and Strategy

Building an Organization Capable of Good Strategy Execution

Managing Internal Operations

Corporate Culture and Leadership

Filters

Exam 1: What Is Strategy and Why Is It Important

A new entrant in a market uses copycat products at its rival at budget prices.What can you say about this company's long-term success?

Managers must be prepared to modify their strategy in response to all of the following EXCEPT:

It is normal for a company's strategy to end up being:

Which of the following is NOT a frequently used strategic approach to set a company apart from rivals and achieve a sustainable competitive advantage?

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

Which of the following is NOT a frequently used strategic approach to set a company apart from rivals and achieve a sustainable competitive advantage?

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

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

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

Which of the following airlines does NOT employ a low-cost provider strategy?

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

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

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

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

Why is a company's strategy partly proactive and partly reactive?

A company's strategy and its quest for competitive advantage are tightly connected because:

A new entrant in a market dominated by established players introduces itself with copycat products of another competitor.Would this strategy work in the long term for the firm? Justify your answer.

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?

Charting a Companys Direction: Its Vision, Mission, Objectives, Andstrategy

Evaluating a Companys External Environment

Evaluating a Companys Resources, Capabilities,and Competitiveness

The Five Generic Competitive Strategies

Strengthening a Companys Competitive Position

Strategies for Competing in International Markets

Corporate Strategy

Ethics, Corporate Social Responsibility, Environmental-Sustainability, and Strategy

Building an Organization Capable of Good Strategy Execution

Managing Internal Operations

Corporate Culture and Leadership

Filters