Question 1

Strategy is the science of success and failure.Elaborate on this statement.

Accepted Answer

The difference between a firm's success

Question 2

What issues should be addressed by managers during the strategy formulation stage of the AFI strategy framework?

Accepted Answer

The issues to be addressed during strate

Question 3

Managers use the AFI strategy framework primarily to:

Accepted Answer

A)  help their business achieve and sustain competitive parity. 
B)  minimize the wealth of their shareholders. 
C)  help reduce the economic contribution of their business. 
D)  explain and predict differences in firm performance. 
A)  help their business achieve and sustain competitive parity. 
B)  minimize the wealth of their shareholders. 
C)  help reduce the economic contribution of their business. 
D)  explain and predict differences in firm performance.

Question 4

What is meant by stakeholder impact analysis?

Accepted Answer

Stakeholder impact analysis provides a d

Question 5

Exis Inc.and Stelma Inc.are two companies that have been manufacturing typewriters for almost 30 years.Due to the reduced demand for typewriters today, both companies' average return on invested capital is approximately -5 percent.The current industry average is 2 percent.In this scenario, Exis Inc.and Stelma Inc.most likely have:

Accepted Answer

A)  competitive advantage over other firms in their industry. 
B)  competitive parity with each other. 
C)  strategic alliance with each other. 
D)  economies of scope instead of economies of scale. 
A)  competitive advantage over other firms in their industry. 
B)  competitive parity with each other. 
C)  strategic alliance with each other. 
D)  economies of scope instead of economies of scale.

Question 6

A company wants to determine how industry effects have affected its profitability.Which of the following elements should the company focus on?

Accepted Answer

A)  The barriers to entry and exit within the industry 
B)  The pricing method opted by the managers to face competition within the industry 
C)  The brand strategy the managers adopt to establish the firm in the industry 
D)  The strategic position the firm pursues within the industry 
A)  The barriers to entry and exit within the industry 
B)  The pricing method opted by the managers to face competition within the industry 
C)  The brand strategy the managers adopt to establish the firm in the industry 
D)  The strategic position the firm pursues within the industry

Question 7

In the United States, which of the following was born out of dissatisfaction with the capitalist system in 2011?

Accepted Answer

A)  The Sarbanes-Oxley Act 
B)  The Occupy movement 
C)  The Tea Party movement 
D)  The Taft-Hartley Act 
A)  The Sarbanes-Oxley Act 
B)  The Occupy movement 
C)  The Tea Party movement 
D)  The Taft-Hartley Act

Question 8

Institutional investors have more sway in public companies than individual investors because of the size of their _____.

Accepted Answer

A)  assets under management (AUM) 
B)  non-performing assets (NP
A)  
C)  current liabilities 
D)  fixed liabilities 
A)  assets under management (AUM) 
B)  non-performing assets (NP
A)  
C)  current liabilities 
D)  fixed liabilities

Question 9

_____ are incidents that describe highly improbable but high impact events.

Accepted Answer

A)  Miracle events 
B)  Wild card events 
C)  Black swan events 
D)  Fat tail risk events 
A)  Miracle events 
B)  Wild card events 
C)  Black swan events 
D)  Fat tail risk events

Question 10

Elaborate on stakeholder strategy.

Accepted Answer

Stakeholder strategy is an integrative a

Question 11

Cocoa Noir Inc., a company that manufactures chocolates, incurs higher costs because of its refusal to import cocoa beans from countries where child labor is prevalent.This reflects Cocoa Noir's _____ responsibility.

Accepted Answer

A)  economic 
B)  legal 
C)  ethical 
D)  demographic 
A)  economic 
B)  legal 
C)  ethical 
D)  demographic

Question 12

True Cinemas Inc.and Digi Future Inc.are two companies that own and run movie theaters in malls and other commercial areas.While True Cinemas Inc.pursues a cost-leadership strategy, Digi Future Inc.adopts a differentiation strategy.Which of the following statements is most likely true of this scenario?

Accepted Answer

A)  True Cinemas will charge a premium price for its customers while Digi Future will implement everyday low pricing. 
B)  Digi Future and True Cinemas will not be direct competitors to each other and their customer segments will overlap very little. 
C)  Digi Future will keep its customer service at an acceptable level while True Cinemas will provide superior customer service. 
D)  True Cinemas and Digi Future will use a similar approach to create value for customers by attempting to offer everything to everybody. 
A)  True Cinemas will charge a premium price for its customers while Digi Future will implement everyday low pricing. 
B)  Digi Future and True Cinemas will not be direct competitors to each other and their customer segments will overlap very little. 
C)  Digi Future will keep its customer service at an acceptable level while True Cinemas will provide superior customer service. 
D)  True Cinemas and Digi Future will use a similar approach to create value for customers by attempting to offer everything to everybody.

Question 13

Discuss the five steps involved in stakeholder impact analysis.

Accepted Answer

• Step 1: Identify stakeholders.In step

Question 14

In _____, a firm frames a guiding policy to address the competitive challenge.

Accepted Answer

A)  strategy control 
B)  strategy implementation 
C)  strategy formulation 
D)  strategy analysis 
A)  strategy control 
B)  strategy implementation 
C)  strategy formulation 
D)  strategy analysis

Question 15

The best example of a firm's external stakeholder is a(n):

Accepted Answer

A)  government agency that regulates the prices of products manufactured by the firm. 
B)  board member from a wholly owned foreign subsidiary of the firm. 
C)  shareholder who has invested money in the firm but is not employed by the firm. 
D)  employee of the firm who is responsible for a contract project. 
A)  government agency that regulates the prices of products manufactured by the firm. 
B)  board member from a wholly owned foreign subsidiary of the firm. 
C)  shareholder who has invested money in the firm but is not employed by the firm. 
D)  employee of the firm who is responsible for a contract project.

Question 16

The interaction between a firm and its diverse internal and external stakeholders is best described as a(n):

Accepted Answer

A)  ergonomic relationship. 
B)  cartel arrangement. 
C)  exchange relationship. 
D)  fiduciary responsibility. 
A)  ergonomic relationship. 
B)  cartel arrangement. 
C)  exchange relationship. 
D)  fiduciary responsibility.

Question 17

Who are a firm's stakeholders?

Accepted Answer

Stakeholders are organizations, groups,

Question 18

What are the three important stakeholder attributes that managers need to pay attention to during all stages of the stakeholder impact analysis?

Accepted Answer

In each step of the stakeholder impact a

Question 19

Describe any two black swan events that occurred in the first decade of the 21st century.Also mention the impact of these events.

Accepted Answer

In the first decade of the 21^st century, s

Question 20

Which of the following is step 3 in the five-step process of stakeholder impact analysis?

Accepted Answer

A)  Identifying the most powerful stakeholders (both internal and external) and their needs 
B)  Identifying the stakeholders' interests and claims 
C)  Identifying the opportunities and threats the stakeholders present 
D)  Identifying the social responsibilities of the firm toward its stakeholders 
A)  Identifying the most powerful stakeholders (both internal and external) and their needs 
B)  Identifying the stakeholders' interests and claims 
C)  Identifying the opportunities and threats the stakeholders present 
D)  Identifying the social responsibilities of the firm toward its stakeholders

Strategy is the science of success and failure.Elaborate on this statement.

What issues should be addressed by managers during the strategy formulation stage of the AFI strategy framework?

Managers use the AFI strategy framework primarily to:

What is meant by stakeholder impact analysis?

A company wants to determine how industry effects have affected its profitability.Which of the following elements should the company focus on?

In the United States, which of the following was born out of dissatisfaction with the capitalist system in 2011?

Institutional investors have more sway in public companies than individual investors because of the size of their _____.

_____ are incidents that describe highly improbable but high impact events.

Elaborate on stakeholder strategy.

Cocoa Noir Inc., a company that manufactures chocolates, incurs higher costs because of its refusal to import cocoa beans from countries where child labor is prevalent.This reflects Cocoa Noir's _____ responsibility.

Discuss the five steps involved in stakeholder impact analysis.

In _____, a firm frames a guiding policy to address the competitive challenge.

The best example of a firm's external stakeholder is a(n):

The interaction between a firm and its diverse internal and external stakeholders is best described as a(n):

Who are a firm's stakeholders?

What are the three important stakeholder attributes that managers need to pay attention to during all stages of the stakeholder impact analysis?

Describe any two black swan events that occurred in the first decade of the 21^st century.Also mention the impact of these events.

Which of the following is step 3 in the five-step process of stakeholder impact analysis?

Strategic Leadership: Managing the Strategy Process

External Analysis: Industry Structure, Competitive Forces, and Strategic Groups

Internal Analysis: Resources, Capabilities, and Core Competencies

Competitive Advantage, Firm Performance, and Business Models

Business Strategy: Differentiation, Cost Leadership, and Blue Oceans

Business Strategy: Innovation, Entrepreneurship, and Platforms

Corporate Strategy: Vertical Integration and Diversification

Corporate Strategy: Strategic Alliances, Mergers and Acquisitions

Global Strategy: Competing Around the World

Organizational Design: Structure, Culture, and Control

Corporate Governance and Business Ethics

Filters

Exam 1: What Is Strategy

Strategy is the science of success and failure.Elaborate on this statement.

What issues should be addressed by managers during the strategy formulation stage of the AFI strategy framework?

Managers use the AFI strategy framework primarily to:

What is meant by stakeholder impact analysis?

A company wants to determine how industry effects have affected its profitability.Which of the following elements should the company focus on?

In the United States, which of the following was born out of dissatisfaction with the capitalist system in 2011?

Institutional investors have more sway in public companies than individual investors because of the size of their _____.

_____ are incidents that describe highly improbable but high impact events.

Elaborate on stakeholder strategy.

Cocoa Noir Inc., a company that manufactures chocolates, incurs higher costs because of its refusal to import cocoa beans from countries where child labor is prevalent.This reflects Cocoa Noir's _____ responsibility.

Discuss the five steps involved in stakeholder impact analysis.

In _____, a firm frames a guiding policy to address the competitive challenge.

The best example of a firm's external stakeholder is a(n):

The interaction between a firm and its diverse internal and external stakeholders is best described as a(n):

Who are a firm's stakeholders?

What are the three important stakeholder attributes that managers need to pay attention to during all stages of the stakeholder impact analysis?

Describe any two black swan events that occurred in the first decade of the 21st century.Also mention the impact of these events.

Which of the following is step 3 in the five-step process of stakeholder impact analysis?

Strategic Leadership: Managing the Strategy Process

External Analysis: Industry Structure, Competitive Forces, and Strategic Groups

Internal Analysis: Resources, Capabilities, and Core Competencies

Competitive Advantage, Firm Performance, and Business Models

Business Strategy: Differentiation, Cost Leadership, and Blue Oceans

Business Strategy: Innovation, Entrepreneurship, and Platforms

Corporate Strategy: Vertical Integration and Diversification

Corporate Strategy: Strategic Alliances, Mergers and Acquisitions

Global Strategy: Competing Around the World

Organizational Design: Structure, Culture, and Control

Corporate Governance and Business Ethics

Filters

Describe any two black swan events that occurred in the first decade of the 21^st century.Also mention the impact of these events.