Exam 1: What Is Strategy

Which of the following was a key driver in the Occupy movement of 2011?

The past black swan events in the United States demonstrate that:

Why is it important for firms in the same industry to choose distinct but different strategic positions?

What is the relationship between economic contribution and competitive advantage?

During strategy implementation, managers primarily focus on deciding the:

How can effective stakeholder management benefit firm performance?

RedSteel Corp.has been able to gain and sustain a competitive advantage due to its strong relationship with its employees, customers, suppliers, and local communities.The company believes in lifetime employment and ensures that its employees grow along with the company.Investors are more than satisfied with the returns on their investments.Also, 3 percent of the company's profit is spent on community development.With initiatives like these, customers feel privileged to associate themselves with RedSteel products.This scenario best illustrates the implementation of a _____.

According to AFI strategy framework, in which of the following tasks of strategic management is a firm's vision, mission, and values identified?

The U.S.government legitimized claims by thousands of businesses and individuals in the aftermath of the BP oil spill in the Gulf of Mexico, causing the claims to become of great urgency to BP.This best represents the process of _____.

In a firm, a strategist's job should be to:

A firm that achieves superior performance relative to other firms in the same industry or the industry average has a(n)_____.

Which of the following is NOT a stakeholder attribute that managers consider during stakeholder impact analysis?

For a strategist, which of the following is NOT an implication of effective strategic management?

Which of the following stages of the strategic management process involves an evaluation of a firm's external and internal environments?

Through _____, a firm puts its guiding policy into practice by employing a set of coherent actions.

Pink Couture Inc.and Pink Blush Inc.are two companies in the apparel industry.While Pink Couture Inc.focuses on providing unique product features and superior customer service, Pink Blush Inc.focuses on low prices and minimal customer service.Both companies have been able to gain a competitive advantage.This is most likely because:

Sun Inc., a vendor, regularly supplies pallets to Octangle Corp.for its shipping business.Therefore, Sun Inc.is Octangle Corp.'s _____.

Pure Food Inc., a multinational company, relies on its media partner Radio Ex to regularly advertise its offers, sales, and new products.Radio Ex is invested in this relationship because it generates most of its revenue from advertising Pure Food's products.In this scenario, Radio Ex is Pure Food Inc.'s _____.

If SA Pharmaceuticals obtains an 18 percent return on invested capital, which of the following will help determine if it has a competitive advantage over other pharmaceutical companies?

Rachel owns a large portion of GM Cube Inc.'s stocks.However, she is not employed by the company.In this scenario, Rachel is the company's _____.