Exam 1: What Is Strategy and Why Is It Important

A pizza maker manufactures thin-crust pizzas and offers free soft drinks with a pack of four pan pizzas.What can you say about its Value-Price-Cost Framework?

A pen manufacturer sells high-quality pens at a very low price but provides pen-specific low-cost refills at a relatively higher price.Explain this business model.

A company's strategy is NOT concerned with management's choices about how to:

A search engine giant specializes in all types of search items; provides a free translation feature for 80 different languages; allows users to view ads on previously made related searches; provides suggestive search items to assist the user; allows users to view a collation of related web pages users might want to visit; and provides a faster load time and more accurate hits than its rivals.Which of the following is a profit formula used by the company?

The most significant signs of a well-managed company are:

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

Explain why a company's strategy cannot be completely planned out in advance and why crafting a company's strategy cannot be a one-time,once-and-for-all managerial exercise.Identify at least three factors that account for why company strategies evolve.

A company's strategy represents a managerial commitment to an integrated array of considered choices about how to compete.This includes the choice about how to capitalize on attractive opportunities to grow the business.Why is opportunity recognition a vital component of the company's strategy?

The objectives of a well-crafted strategy require management to strive to:

A laptop manufacturing company acquires a microprocessors manufacturing company to gain a strong market position.Which of the five generic strategies has the laptop manufacturer used to gain competitive advantage?

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?

Why are crafting and executing business strategies the foremost tasks of any organization?

Crafting and executing a strategy is a top-priority managerial task because:

The difference between a company's strategy and a company's business model is that:

An established organization is fast losing its market share to companies that offer similar products and are upgrading their capabilities to produce better products.List a few general actions and approaches that would help the organization revive its position.

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

Good strategy combined with good strategy execution:

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

In crafting a company's strategy,managers:

An automobile company with an established brand name uses a unique assembly line method to reduce the final packaging and fitting procedures cost.It then sells the cars to all customers at a reduced price.Which of the five generic strategies automobile company using?