Question 1

Sizing up a company's overall resource strengths and weaknesses

Accepted Answer

A)  essentially involves constructing a "strategic balance sheet" on which the company's resource strengths represent competitive assets and its resource weaknesses represent competitive liabilities. 
B)  is the same process as benchmarking. 
C)  is called competitive strength assessment. 
D)  is focused on making lists of a company's resource strengths and weaknesses. 
E)  is called company resource mapping. 
A)  essentially involves constructing a "strategic balance sheet" on which the company's resource strengths represent competitive assets and its resource weaknesses represent competitive liabilities. 
B)  is the same process as benchmarking. 
C)  is called competitive strength assessment. 
D)  is focused on making lists of a company's resource strengths and weaknesses. 
E)  is called company resource mapping.

Question 2

Which of the following is not a component of evaluating a company's competitive strength and cost structure?

Accepted Answer

A)  evaluating how well the strategy is working 
B)  scanning the environment to determine a company's best and most profitable customers 
C)  assessing whether the company's costs and prices are competitive 
D)  evaluating whether the company is competitively stronger or weaker than key rivals 
E)  pinpointing what strategic issues and problems merit front-burner management attention 
A)  evaluating how well the strategy is working 
B)  scanning the environment to determine a company's best and most profitable customers 
C)  assessing whether the company's costs and prices are competitive 
D)  evaluating whether the company is competitively stronger or weaker than key rivals 
E)  pinpointing what strategic issues and problems merit front-burner management attention

Question 3

A company that is at a disadvantage in the marketplace because it lacks competitively valuable resources possessed by rivals

Accepted Answer

A)  should consider divesting assets and making future investments in promising new industries. 
B)  may be able to develop substitute resources that accomplish the same objective as the competitively valuable resource possessed by rivals. 
C)  can still marshal competitive power in the marketplace by incorporating product or service features desired by niche buyers. 
D)  is virtually blockaded from using offensive strategies and must rely on defensive strategies. 
E)  should abandon strategy elements that have caused its weakness in the marketplace. 
A)  should consider divesting assets and making future investments in promising new industries. 
B)  may be able to develop substitute resources that accomplish the same objective as the competitively valuable resource possessed by rivals. 
C)  can still marshal competitive power in the marketplace by incorporating product or service features desired by niche buyers. 
D)  is virtually blockaded from using offensive strategies and must rely on defensive strategies. 
E)  should abandon strategy elements that have caused its weakness in the marketplace.

Question 4

One important indicator of how well a company's present strategy is working is whether

Accepted Answer

A)  it has more core competencies than close rivals. 
B)  its strategy is built around at least two of the industry's key success factors. 
C)  the company is achieving gains in financial strength. 
D)  it has been able to create new industry demand through the use of a blue ocean strategy. 
E)  it is subject to weaker competitive forces and pressures than close rivals (a good sign). 
A)  it has more core competencies than close rivals. 
B)  its strategy is built around at least two of the industry's key success factors. 
C)  the company is achieving gains in financial strength. 
D)  it has been able to create new industry demand through the use of a blue ocean strategy. 
E)  it is subject to weaker competitive forces and pressures than close rivals (a good sign).

Question 5

The options for remedying a supplier-related cost disadvantage include

Accepted Answer

A)  trying to negotiate more favorable prices with suppliers and switching to lower priced substitute inputs. 
B)  forward vertical integration. 
C)  shifting into the production of substitute products. 
D)  shifting from a low-cost leadership strategy to a differentiation or focus strategy. 
E)  cutting selling prices and trying to win a bigger market share. 
A)  trying to negotiate more favorable prices with suppliers and switching to lower priced substitute inputs. 
B)  forward vertical integration. 
C)  shifting into the production of substitute products. 
D)  shifting from a low-cost leadership strategy to a differentiation or focus strategy. 
E)  cutting selling prices and trying to win a bigger market share.

Question 6

A company resource weakness or competitive deficiency

Accepted Answer

A)  represents a problem that needs to be turned into a strength because weaknesses prevent a firm from being a winner in the marketplace. 
B)  causes the company to fall into a lower strategic group than it otherwise could compete in. 
C)  prevents a company from having a distinctive competence. 
D)  usually stems from having a missing link or links in the industry value chain. 
E)  is something a company lacks or does poorly (in comparison to rivals) or a condition that puts it at a disadvantage in the marketplace. 
A)  represents a problem that needs to be turned into a strength because weaknesses prevent a firm from being a winner in the marketplace. 
B)  causes the company to fall into a lower strategic group than it otherwise could compete in. 
C)  prevents a company from having a distinctive competence. 
D)  usually stems from having a missing link or links in the industry value chain. 
E)  is something a company lacks or does poorly (in comparison to rivals) or a condition that puts it at a disadvantage in the marketplace.

Question 7

A company's value chain

Accepted Answer

A)  consists of the primary activities that it performs in seeking to deliver value to shareholders in the form of higher dividends and a higher stock price. 
B)  depicts the internally performed activities associated with creating and enhancing the company's competitive assets. 
C)  consists of two broad categories of activities: the primary activities that create customer value and the requisite support activities that facilitate and enhance the performance of the primary activities. 
D)  concerns the basic process the company goes through in performing R&D and developing new products. 
E)  consists of the series of steps a company goes through to develop a new product,get it produced and into the marketplace,and then start collecting revenues and earning a profit. 
A)  consists of the primary activities that it performs in seeking to deliver value to shareholders in the form of higher dividends and a higher stock price. 
B)  depicts the internally performed activities associated with creating and enhancing the company's competitive assets. 
C)  consists of two broad categories of activities: the primary activities that create customer value and the requisite support activities that facilitate and enhance the performance of the primary activities. 
D)  concerns the basic process the company goes through in performing R&D and developing new products. 
E)  consists of the series of steps a company goes through to develop a new product,get it produced and into the marketplace,and then start collecting revenues and earning a profit.

Question 8

Accurately assessing the competitiveness of a company's cost structure and value proposition requires

Accepted Answer

A)  that managers understand an industry's entire value chain system. 
B)  that managers understand the detail of their own company's value chain. 
C)  that managers are involved in functional strategy development. 
D)  that managers understand the firm's profitability outlook. 
E)  All of these choices are correct. 
A)  that managers understand an industry's entire value chain system. 
B)  that managers understand the detail of their own company's value chain. 
C)  that managers are involved in functional strategy development. 
D)  that managers understand the firm's profitability outlook. 
E)  All of these choices are correct.

Question 9

When a company is good at performing a particular internal activity,it is said to have a

Accepted Answer

A)  competitive advantage over rivals. 
B)  competitive capability. 
C)  distinctive competence. 
D)  resource-based strategy. 
E)  competence. 
A)  competitive advantage over rivals. 
B)  competitive capability. 
C)  distinctive competence. 
D)  resource-based strategy. 
E)  competence.

Question 10

Identifying and appraising a company's resource strengths and weaknesses and its external opportunities and threats is called

Accepted Answer

A)  SWOT analysis. 
B)  competitive asset/liability analysis. 
C)  competitive positioning analysis. 
D)  strategic resource assessment. 
E)  company resource mapping. 
A)  SWOT analysis. 
B)  competitive asset/liability analysis. 
C)  competitive positioning analysis. 
D)  strategic resource assessment. 
E)  company resource mapping.

Question 11

Which of the following is not an example of an external threat to a company's future profitability?

Accepted Answer

A)  likely entry of potent new competitors 
B)  lack of a well-known brand name with which to attract new customers and help retain existing customers 
C)  unfavorable shifts in buyer demographics and tastes 
D)  costly new regulatory requirements 
E)  increase(s) in interest rates 
A)  likely entry of potent new competitors 
B)  lack of a well-known brand name with which to attract new customers and help retain existing customers 
C)  unfavorable shifts in buyer demographics and tastes 
D)  costly new regulatory requirements 
E)  increase(s) in interest rates

Question 12

Which of the following is not accurate as concerns the task of identifying the strategic issues and problems that merit front-burner managerial attention?

Accepted Answer

A)  Drawing upon the results and conclusions from analyzing the company's external environment. 
B)  Drawing on the results and conclusions from evaluating the company's own resources and competitive position. 
C)  Developing a "worry list" of problems and issues for managerial strategy making. 
D)  Identifying the strategic issues and problems that the company faces is the first thing that company managers need to do before starting to analyze the company's internal and external environment. 
E)  Developing a list of what issues and problems that management needs to address (and to resolve) should always precede deciding upon a strategy and what actions to take to improve the company's position and prospects. 
A)  Drawing upon the results and conclusions from analyzing the company's external environment. 
B)  Drawing on the results and conclusions from evaluating the company's own resources and competitive position. 
C)  Developing a "worry list" of problems and issues for managerial strategy making. 
D)  Identifying the strategic issues and problems that the company faces is the first thing that company managers need to do before starting to analyze the company's internal and external environment. 
E)  Developing a list of what issues and problems that management needs to address (and to resolve) should always precede deciding upon a strategy and what actions to take to improve the company's position and prospects.

Question 13

What are the three main approaches to rectify a weakness in a company's customer value proposition?

Accepted Answer

The answer of What are the three main approaches to...

Question 14

Why is it important for company managers to develop a "worry list" of strategic issues and problems that they need to address and to resolve? What should they consider to develop this list?

Accepted Answer

The answer of Why is it important for company managers...

Question 15

A company's value chain identifies

Accepted Answer

A)  the steps it goes through to convert its net income into value for shareholders. 
B)  the primary activities that create value for customers and related support activities. 
C)  the series of steps it takes to get a product from a raw materials stage to a finished product. 
D)  the activities it performs in transforming its competencies into distinctive competencies. 
E)  the competencies and competitive capabilities that underpin its efforts to create value for customers and shareholders. 
A)  the steps it goes through to convert its net income into value for shareholders. 
B)  the primary activities that create value for customers and related support activities. 
C)  the series of steps it takes to get a product from a raw materials stage to a finished product. 
D)  the activities it performs in transforming its competencies into distinctive competencies. 
E)  the competencies and competitive capabilities that underpin its efforts to create value for customers and shareholders.

Question 16

What are the remedies for an internal cost disadvantage?

Accepted Answer

The answer of What are the remedies for an internal...

Question 17

What is a resource-based strategy?

Accepted Answer

A resource-based strategy is a business

Question 18

The primary activities included in the value chain include

Accepted Answer

A)  supply chain management,operations,distribution,sales and marketing,and customer service activities. 
B)  product R&D,technology and systems development. 
C)  human resource management. 
D)  general administration. 
E)  All of these choices are correct. 
A)  supply chain management,operations,distribution,sales and marketing,and customer service activities. 
B)  product R&D,technology and systems development. 
C)  human resource management. 
D)  general administration. 
E)  All of these choices are correct.

Question 19

Which of the following is not a market opportunity most relevant to a particular company?

Accepted Answer

A)  likely entry of potent new competitors 
B)  acquiring rival firms or companies with technological know-how to enter new lines of business 
C)  expanding the company's product line to meet new customer needs 
D)  expanding into new geographic markets 
E)  falling trade barriers in attractive foreign markets 
A)  likely entry of potent new competitors 
B)  acquiring rival firms or companies with technological know-how to enter new lines of business 
C)  expanding the company's product line to meet new customer needs 
D)  expanding into new geographic markets 
E)  falling trade barriers in attractive foreign markets

Question 20

A first-rate SWOT analysis

Accepted Answer

A)  is a way to measure whether a company's value chain is longer or shorter than the chains of key rivals. 
B)  is a tool for benchmarking whether a firm's strategy is closely matched to industry key success factors. 
C)  reveals whether a company is competitively stronger than its closest rivals. 
D)  provides a good basis for crafting a strategy. 
E)  identifies the reasons a company's strategy is or is not working very well. 
A)  is a way to measure whether a company's value chain is longer or shorter than the chains of key rivals. 
B)  is a tool for benchmarking whether a firm's strategy is closely matched to industry key success factors. 
C)  reveals whether a company is competitively stronger than its closest rivals. 
D)  provides a good basis for crafting a strategy. 
E)  identifies the reasons a company's strategy is or is not working very well.

Sizing up a company's overall resource strengths and weaknesses

Which of the following is not a component of evaluating a company's competitive strength and cost structure?

A company that is at a disadvantage in the marketplace because it lacks competitively valuable resources possessed by rivals

One important indicator of how well a company's present strategy is working is whether

The options for remedying a supplier-related cost disadvantage include

A company resource weakness or competitive deficiency

A company's value chain

Accurately assessing the competitiveness of a company's cost structure and value proposition requires

When a company is good at performing a particular internal activity,it is said to have a

Identifying and appraising a company's resource strengths and weaknesses and its external opportunities and threats is called

Which of the following is not an example of an external threat to a company's future profitability?

Which of the following is not accurate as concerns the task of identifying the strategic issues and problems that merit front-burner managerial attention?

What are the three main approaches to rectify a weakness in a company's customer value proposition?

Why is it important for company managers to develop a "worry list" of strategic issues and problems that they need to address and to resolve? What should they consider to develop this list?

A company's value chain identifies

What are the remedies for an internal cost disadvantage?

What is a resource-based strategy?

The primary activities included in the value chain include

Which of the following is not a market opportunity most relevant to a particular company?

A first-rate SWOT analysis

Strategy,Business Models, and Competitive Advantage

Strategy Formulation, Execution, and Governance

Evaluating a Companys External Environment

The Five Generic Competitive Strategies

Strength-Ending a Company Competitive Position: Strategic Moves, Timing, and Scope of Operations

Strategies for Competing in International Markets

Corporate Strategy: Diversification and the Multi-Business Company

Ethics,Corporate Social Responsibility,Environmental Sustainability, and Strategy

Super Strategy Execution-Another Path to Competitive Advantage

Filters

Exam 4: Evaluating a Company Resources, Capabilities, and Competitiveness

Sizing up a company's overall resource strengths and weaknesses

Which of the following is not a component of evaluating a company's competitive strength and cost structure?

A company that is at a disadvantage in the marketplace because it lacks competitively valuable resources possessed by rivals

One important indicator of how well a company's present strategy is working is whether

The options for remedying a supplier-related cost disadvantage include

A company resource weakness or competitive deficiency

A company's value chain

Accurately assessing the competitiveness of a company's cost structure and value proposition requires

When a company is good at performing a particular internal activity,it is said to have a

Identifying and appraising a company's resource strengths and weaknesses and its external opportunities and threats is called

Which of the following is not an example of an external threat to a company's future profitability?

Which of the following is not accurate as concerns the task of identifying the strategic issues and problems that merit front-burner managerial attention?

What are the three main approaches to rectify a weakness in a company's customer value proposition?

Why is it important for company managers to develop a "worry list" of strategic issues and problems that they need to address and to resolve? What should they consider to develop this list?

A company's value chain identifies

What are the remedies for an internal cost disadvantage?

What is a resource-based strategy?

The primary activities included in the value chain include

Which of the following is not a market opportunity most relevant to a particular company?

A first-rate SWOT analysis

Strategy,Business Models, and Competitive Advantage

Strategy Formulation, Execution, and Governance

Evaluating a Companys External Environment

The Five Generic Competitive Strategies

Strength-Ending a Company Competitive Position: Strategic Moves, Timing, and Scope of Operations

Strategies for Competing in International Markets

Corporate Strategy: Diversification and the Multi-Business Company

Ethics,Corporate Social Responsibility,Environmental Sustainability, and Strategy

Super Strategy Execution-Another Path to Competitive Advantage

Filters