Exam 1: Strategy, Business Models, and Competitive Advantage

The competitive moves and business approaches a company's management is using to grow the business,compete successfully,attract and please customers,conduct operations,respond to changing economic and market conditions,and achieve organizational objectives is referred to as its

A well-conceived strategy is value creating producing excellence in company performance and is best when the gains are achieved.

What is the connection between a company's strategy and its quest for sustainable competitive advantage?

In evaluating proposed or existing strategies managers should

Which of the following is not a frequently used strategic approach to setting a company apart from rivals and achieving a sustainable competitive advantage?

A creative,distinctive strategy that sets a company apart from rivals and that gives it a sustainable competitive advantage

Changing circumstances and ongoing managerial efforts to improve the strategy

A winning strategy is one that

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?

The most important aspect(s)of a company's business strategy

List five elements of an enterprise's business strategy.

A company's strategy is most accurately defined as

Why is a company's strategy partly proactive and partly reactive?

Why does a company's strategy tend to evolve over time?

Briefly define each of the following terms: a.Strategy b.Sustainable competitive advantage c.Business model

A company achieves sustainable competitive advantage when

Which of the following is not one of the basic reasons that a company's strategy evolves over time?

A viable business model includes a valuable customer value proposition that

Define and explain the importance of the two elements of a company's business model.

A company's strategy is a "work in progress" and evolves over time because of