Question 1

Why is a company's realized strategy a blend of proactive and adaptive approaches?

Accepted Answer

Answers may vary.

Question 2

A viable business model includes a valuable customer value proposition that

Accepted Answer

A)  is always partly deliberate or planned and partly emergent or reactive. 
B)  is an essential component of pursuing the company's strategic intent. 
C)  suggests the greater the value provided and the lower the price,the more attractive the value proposition. 
D)  lays out the approach to satisfying buyer wants and needs at a premium price. 
E)  must set forth management's long-term action plan for achieving market leadership. 
A)  is always partly deliberate or planned and partly emergent or reactive. 
B)  is an essential component of pursuing the company's strategic intent. 
C)  suggests the greater the value provided and the lower the price,the more attractive the value proposition. 
D)  lays out the approach to satisfying buyer wants and needs at a premium price. 
E)  must set forth management's long-term action plan for achieving market leadership. C

Question 3

A company's strategy is most accurately defined as

Accepted Answer

A)  management's approaches to building revenues,controlling costs,and generating an attractive profit. 
B)  management's game plan for growing the business,attracting and pleasing customers,conducting operations,and achieving financial and market performance objectives. 
C)  management's concept of "where we are headed." 
D)  the business model that a company's board of directors has approved for outcompeting rivals and making the company profitable. 
E)  the choices management has made regarding what financial plan to pursue. 
A)  management's approaches to building revenues,controlling costs,and generating an attractive profit. 
B)  management's game plan for growing the business,attracting and pleasing customers,conducting operations,and achieving financial and market performance objectives. 
C)  management's concept of "where we are headed." 
D)  the business model that a company's board of directors has approved for outcompeting rivals and making the company profitable. 
E)  the choices management has made regarding what financial plan to pursue. B

Question 4

In evaluating proposed or existing strategies,managers should

Accepted Answer

A)  initiate new initiatives even though they don't seem to match the company's internal and external situation. 
B)  scrutinize the company's existing strategies on a regular basis to ensure they offer a good strategic fit,create a competitive advantage,and result in above-average performance. 
C)  evaluate the firm's business model at least every three years. 
D)  ensure core capabilities are incorporated for establishing a competitive advantage. 
E)  align existing strategies with new strategies to emphasize incremental gains. 
A)  initiate new initiatives even though they don't seem to match the company's internal and external situation. 
B)  scrutinize the company's existing strategies on a regular basis to ensure they offer a good strategic fit,create a competitive advantage,and result in above-average performance. 
C)  evaluate the firm's business model at least every three years. 
D)  ensure core capabilities are incorporated for establishing a competitive advantage. 
E)  align existing strategies with new strategies to emphasize incremental gains.

Question 5

Should a company's strategy be tightly connected to its quest for competitive advantage? Why or why not? What difference does it makes whether a company has a sustainable competitive advantage or not?

Accepted Answer

Yes, a company's strategy should be tigh

Question 6

What is the nitty-gritty issue surrounding a company's business model?

Accepted Answer

The answer of What is the nitty-gritty issue surrounding a...

Question 7

Explain why some companies get to the top of industry rankings and stay there,while others do not.

Accepted Answer

The answer of Explain why some companies get to the...

Question 8

A company's business model

Accepted Answer

A)  concerns the actions and business approaches that will be used to grow the business,conduct operations,please customers,and compete successfully. 
B)  relates to the principle business components that will allow the business to generate revenues ample enough to cover costs and produce a profit. 
C)  concerns what 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. 
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,please customers,and compete successfully. 
B)  relates to the principle business components that will allow the business to generate revenues ample enough to cover costs and produce a profit. 
C)  concerns what 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. 
E)  concerns how management plans to pursue strategic objectives,given the larger imperative of meeting or beating its financial performance targets.

Question 9

A well-conceived strategy builds a company's

Accepted Answer

A)  profitability and financial strength. 
B)  competitive strength and market standing. 
C)  distinctive competencies and sustainability. 
D)  competitive edge. 
E)  All of these choices are correct. 
A)  profitability and financial strength. 
B)  competitive strength and market standing. 
C)  distinctive competencies and sustainability. 
D)  competitive edge. 
E)  All of these choices are correct.

Question 10

Why are capabilities critical to a company's quest for a sustainable competitive advantage?

Accepted Answer

The answer of Why are capabilities critical to a company's...

Question 11

Which of the following is a frequently used strategic approach to setting a company apart from rivals and achieving 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 such differentiating features as higher quality,wider product selection,added performance,better service,more attractive styling,or technological superiority 
C)  developing competitively valuable resources and capabilities that rivals can't easily match,copy,or trump with capabilities of their own 
D)  focusing on a narrow market niche and winning a competitive edge by doing a better job than rivals of serving the special needs and tastes of buyers comprising the niche 
E)  All of these choices are correct. 
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 such differentiating features as higher quality,wider product selection,added performance,better service,more attractive styling,or technological superiority 
C)  developing competitively valuable resources and capabilities that rivals can't easily match,copy,or trump with capabilities of their own 
D)  focusing on a narrow market niche and winning a competitive edge by doing a better job than rivals of serving the special needs and tastes of buyers comprising the niche 
E)  All of these choices are correct.

Question 12

Which of the following questions ought to be used to distinguish a winning strategy from a so-so or flawed strategy?

Accepted Answer

A)  Does the strategy contain a sufficient number of emergent and/or reactive elements? 
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 built on a company's weakness,or does it require resources that are deficient in the company? 
D)  Is the strategy well matched to the company's situation,helping the company achieve a sustainable competitive advantage and resulting in better company performance? 
E)  Does the strategy strike a good balance between maximizing shareholder wealth and maximizing customer satisfaction? 
A)  Does the strategy contain a sufficient number of emergent and/or reactive elements? 
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 built on a company's weakness,or does it require resources that are deficient in the company? 
D)  Is the strategy well matched to the company's situation,helping the company achieve a sustainable competitive advantage and resulting in better company performance? 
E)  Does the strategy strike a good balance between maximizing shareholder wealth and maximizing customer satisfaction?

Question 13

Why are capabilities needed to build a sustainable competitive advantage so important to a winning business strategy? Cite one of the company examples in the chapter to illustrate your answer.

Accepted Answer

The answer of Why are capabilities needed to build a...

Question 14

Proven approaches to winning a sustainable competitive advantage include which of the following?

Accepted Answer

A)  developing a low-cost-based advantage 
B)  creating a broad differentiation-based advantage 
C)  focusing on a narrow market niche within an industry 
D)  developing a best-cost provider strategy 
E)  All of these choices are correct. 
A)  developing a low-cost-based advantage 
B)  creating a broad differentiation-based advantage 
C)  focusing on a narrow market niche within an industry 
D)  developing a best-cost provider strategy 
E)  All of these choices are correct.

Question 15

Briefly define each of the following terms:
a.strategy
b.business model
c.sustainable competitive advantage

Accepted Answer

The answer of Briefly define each of the following terms:
a.strategy
b.business...

Question 16

A company achieves sustainable competitive advantage when

Accepted Answer

A)  it has a profitable business model. 
B)  a sufficiently large number of buyers have a lasting preference for its products or services as compared to the offerings of competitors. 
C)  it is able to maximize shareholder wealth. 
D)  it is consistently able to achieve both its strategic and financial objectives. 
E)  its strategy and its business model are well matched and in sync. 
A)  it has a profitable business model. 
B)  a sufficiently large number of buyers have a lasting preference for its products or services as compared to the offerings of competitors. 
C)  it is able to maximize shareholder wealth. 
D)  it is consistently able to achieve both its strategic and financial objectives. 
E)  its strategy and its business model are well matched and in sync.

Question 17

What are the three questions that managers can use to distinguish a winning strategy from a so-so or flawed strategy? Briefly explain why each question is important.

Accepted Answer

The answer of What are the three questions that managers...

Question 18

Which of the following is not something a company's strategy is concerned with?

Accepted Answer

A)  management's choices about how to attract and please customers 
B)  management's choices about how quickly and closely to copy the strategies being used by successful rival companies 
C)  management's choices about how to grow the business 
D)  management's choices about how to outcompete rivals 
E)  management's action plan for conducting operations and improving the company's strategic and financial performance 
A)  management's choices about how to attract and please customers 
B)  management's choices about how quickly and closely to copy the strategies being used by successful rival companies 
C)  management's choices about how to grow the business 
D)  management's choices about how to outcompete rivals 
E)  management's action plan for conducting operations and improving the company's strategic and financial performance

Question 19

A company's realized strategy is made up of

Accepted Answer

A)  deliberate and/or planned initiatives that have proven themselves in the marketplace and newly launched initiatives aimed at further boosting performance. 
B)  emergent and/or reactive adjustments to unanticipated strategic moves by rivals,unexpected changes in customer preferences,and new market opportunities. 
C)  tactical plans to imitate the key elements of the strategies employed by rivals. 
D)  both deliberate and/or planned initiatives that have proven themselves in the marketplace and newly launched initiatives aimed at further boosting performance and emergent and/or reactive adjustments to unanticipated strategic moves by rivals,unexpected changes in customer preferences,and new market opportunities. 
E)  All of these choices are correct. 
A)  deliberate and/or planned initiatives that have proven themselves in the marketplace and newly launched initiatives aimed at further boosting performance. 
B)  emergent and/or reactive adjustments to unanticipated strategic moves by rivals,unexpected changes in customer preferences,and new market opportunities. 
C)  tactical plans to imitate the key elements of the strategies employed by rivals. 
D)  both deliberate and/or planned initiatives that have proven themselves in the marketplace and newly launched initiatives aimed at further boosting performance and emergent and/or reactive adjustments to unanticipated strategic moves by rivals,unexpected changes in customer preferences,and new market opportunities. 
E)  All of these choices are correct.

Question 20

The elements of a company's business model are

Accepted Answer

A)  its customer value proposition as well as the company's profit formula. 
B)  its business strategy,its collection of competitively valuable resources,and a strong management team. 
C)  its deliberate strategy,its emergent strategy,and its realized strategy. 
D)  its actions to capture emerging market opportunities and defend against threats to the company's business prospects,its actions to strengthen competitiveness via strategic alliances,and its actions to enter new geographic or product markets. 
E)  management's answers to the questions: Where are we now? Where do we want to go? and How are we going to get there? 
A)  its customer value proposition as well as the company's profit formula. 
B)  its business strategy,its collection of competitively valuable resources,and a strong management team. 
C)  its deliberate strategy,its emergent strategy,and its realized strategy. 
D)  its actions to capture emerging market opportunities and defend against threats to the company's business prospects,its actions to strengthen competitiveness via strategic alliances,and its actions to enter new geographic or product markets. 
E)  management's answers to the questions: Where are we now? Where do we want to go? and How are we going to get there?

Why is a company's realized strategy a blend of proactive and adaptive approaches?

A viable business model includes a valuable customer value proposition that

A company's strategy is most accurately defined as

In evaluating proposed or existing strategies,managers should

Should a company's strategy be tightly connected to its quest for competitive advantage? Why or why not? What difference does it makes whether a company has a sustainable competitive advantage or not?

What is the nitty-gritty issue surrounding a company's business model?

Explain why some companies get to the top of industry rankings and stay there,while others do not.

A company's business model

A well-conceived strategy builds a company's

Why are capabilities critical to a company's quest for a sustainable competitive advantage?

Which of the following is a frequently used strategic approach to setting a company apart from rivals and achieving a sustainable competitive advantage?

Which of the following questions ought to be used to distinguish a winning strategy from a so-so or flawed strategy?

Why are capabilities needed to build a sustainable competitive advantage so important to a winning business strategy? Cite one of the company examples in the chapter to illustrate your answer.

Proven approaches to winning a sustainable competitive advantage include which of the following?

Briefly define each of the following terms: a.strategy b.business model c.sustainable competitive advantage

A company achieves sustainable competitive advantage when

What are the three questions that managers can use to distinguish a winning strategy from a so-so or flawed strategy? Briefly explain why each question is important.

Which of the following is not something a company's strategy is concerned with?

A company's realized strategy is made up of

The elements of a company's business model are

Strategy Formulation, Execution, and Governance

Evaluating a Companys External Environment

Evaluating a Company Resources, Capabilities, and Competitiveness

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 1: Strategy,Business Models, and Competitive Advantage

Why is a company's realized strategy a blend of proactive and adaptive approaches?

A viable business model includes a valuable customer value proposition that

A company's strategy is most accurately defined as

In evaluating proposed or existing strategies,managers should

Should a company's strategy be tightly connected to its quest for competitive advantage? Why or why not? What difference does it makes whether a company has a sustainable competitive advantage or not?

What is the nitty-gritty issue surrounding a company's business model?

Explain why some companies get to the top of industry rankings and stay there,while others do not.

A company's business model

A well-conceived strategy builds a company's

Why are capabilities critical to a company's quest for a sustainable competitive advantage?

Which of the following is a frequently used strategic approach to setting a company apart from rivals and achieving a sustainable competitive advantage?

Which of the following questions ought to be used to distinguish a winning strategy from a so-so or flawed strategy?

Why are capabilities needed to build a sustainable competitive advantage so important to a winning business strategy? Cite one of the company examples in the chapter to illustrate your answer.

Proven approaches to winning a sustainable competitive advantage include which of the following?

Briefly define each of the following terms: a.strategy b.business model c.sustainable competitive advantage

A company achieves sustainable competitive advantage when

What are the three questions that managers can use to distinguish a winning strategy from a so-so or flawed strategy? Briefly explain why each question is important.

Which of the following is not something a company's strategy is concerned with?

A company's realized strategy is made up of

The elements of a company's business model are

Strategy Formulation, Execution, and Governance

Evaluating a Companys External Environment

Evaluating a Company Resources, Capabilities, and Competitiveness

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