Exam 1: What Is Strategy

For a firm that operates in an industry where competition is high, which of the following practices will result in inferior performance?

Which of the following is NOT an example of a software company's external stakeholder?

What are the philanthropic responsibilities of a firm?

When the strong dictatorial rule in Canria unexpectedly collapsed due to the shocking mass murder of the royal family, the nation's economy experienced drastic changes.The laws became more restrictive, the country lost many locally produced resources and products, and the distribution of wealth became inequitable.The unexpected event that led to these changes can best be described as a(n)_____ event.

Discuss the major hallmarks of what strategy is NOT.

A firm's economic responsibilities are primarily directed toward:

The first step in stakeholder impact analysis involves:

The average cost of production for a bottle of vitamin water in the industry is $4 while its average price is $7.StoreAll Inc.manufactures the same product for $3 per bottle and sells it for $7 per bottle.Which of the following statements is most likely true of StoreAll Inc.in this scenario?

List the three broad tasks in the AFI strategy framework.

Shortly after the small island of Balamia experienced multiple unexpected high-intensity earthquakes that caused massive destruction, many banks and insurance companies filed for bankruptcy.This left the economy of the country in a poor state.The natural calamity in Balamia best exemplifies _____.

Why is it not advisable for managers to have single-minded focus on shareholders alone?

Underperformance relative to other firms in the same industry or the industry average results in a(n)_____ for a firm.

With regard to stakeholder impact analysis, in what way did Starbucks go beyond its legal responsibilities and fulfill its ethical responsibilities?

What are the elements of a good strategy?

Industry effects describe the underlying _____ structure of the industry.

_____ provides a decision tool that enables a firm to act as a good corporate citizen by allowing its managers to recognize, prioritize, and address the needs of different groups of individuals who take personal interest in the firm's performance and survival.

Which of the following tasks in the AFI strategy framework involves putting the formulated strategy into practice through organizational structure, culture, and controls?

Which of the following is an implication of all firms in an industry pursuing a low-cost position through application of competitive benchmarking?

New Communications Inc.is a newspaper publishing company whose average return on invested capital is approximately 5 percent.Because newspaper publishing is a declining industry, the industry average has been negative (-5 percent)for the last few years.In this scenario, New Communications Inc.has a _____.

Which of the following scenarios illustrates a firm that has a sustainable competitive advantage?