Question 1

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) ethical worthiness and corporate social responsibility. 
A) profitability and financial strength. 
B) competitive strength and market standing. 
C) distinctive competencies and sustainability. 
D) competitive edge. 
E) ethical worthiness and corporate social responsibility. E

Question 2

Which of the following is not typically a trigger to an evolving strategy?

Accepted Answer

A) The need to keep strategy in step with changing circumstances,market conditions,and changing customer needs and expectations 
B) The proactive efforts of company managers to fine-tune and improve one or more pieces of the strategy 
C) The need to abandon some strategy features that are no longer working well 
D) The need to respond to the newly initiated actions and competitive moves of rival firms 
E) The need to respond to short-term swings in the stock market 
A) The need to keep strategy in step with changing circumstances,market conditions,and changing customer needs and expectations 
B) The proactive efforts of company managers to fine-tune and improve one or more pieces of the strategy 
C) The need to abandon some strategy features that are no longer working well 
D) The need to respond to the newly initiated actions and competitive moves of rival firms 
E) The need to respond to short-term swings in the stock market E

Question 3

What are the three criteria that determine whether or not a company has a winning strategy?

Accepted Answer

A winning strategy must (1)fit the company's external and internal situation, (2)build a sustainable competitive advantage,and (3)improve the company's performance.

Question 4

A creative,distinctive strategy that delivers a sustainable,competitive advantage is important because

Accepted Answer

A) without a proven strategy,a company is likely to fall into bankruptcy. 
B) without a competitive advantage,a company cannot have a profitable business model. 
C) a strategy that yields a competitive advantage over rivals is a company's most reliable means of achieving above-average profitability and financial performance. 
D) a competitive advantage is what enables a company to achieve its strategic objectives. 
E) how a company goes about trying to please customers and outcompete rivals is what enables senior managers to choose an appropriate strategic vision for the company. 
A) without a proven strategy,a company is likely to fall into bankruptcy. 
B) without a competitive advantage,a company cannot have a profitable business model. 
C) a strategy that yields a competitive advantage over rivals is a company's most reliable means of achieving above-average profitability and financial performance. 
D) a competitive advantage is what enables a company to achieve its strategic objectives. 
E) how a company goes about trying to please customers and outcompete rivals is what enables senior managers to choose an appropriate strategic vision for the company.

Question 5

A luxury hot-tub manufacturer offered monogrammed bathrobes as a gimmick when their hot tubs did not sell.Their monogrammed bathrobes became famous among some women and led to a line of exclusive bath products for women.The bathtub manufacturer established shops in various regional locations and hired celebrities to market their products to enhance sales.Today,its products are sold through retail outlets and online sites throughout the world.Which of the following is accurate?

Accepted Answer

A) Offering scented bubble-bath foams and massage coupons was an emergent strategy. 
B) Creating a subbrand that offered exclusive bath products for women was an emergent strategy. 
C) Establishing shops in regional locations was an emergent strategy. 
D) Roping in celebrities to market their products was an emergent strategy. 
E) Creating a worldwide presence through retail outlets and online sites was an emergent strategy. 
A) Offering scented bubble-bath foams and massage coupons was an emergent strategy. 
B) Creating a subbrand that offered exclusive bath products for women was an emergent strategy. 
C) Establishing shops in regional locations was an emergent strategy. 
D) Roping in celebrities to market their products was an emergent strategy. 
E) Creating a worldwide presence through retail outlets and online sites was an emergent strategy.

Question 6

Provide at least two examples of a company's competitively valuable capabilities.

Accepted Answer

See Concepts & Connections 1.2 (Starbuck

Question 7

Rainbow Resorts Inc.has multiple tropical resorts in various locations.In a crowded market that caters to all kinds of consumers,this resort caters mainly to LGBTQ customers with a guaranteed hassle-free holiday experience at a premium price.What strategy is Rainbow using to gain competitive advantage?

Accepted Answer

A) A low-cost provider strategy 
B) A broad differentiation strategy 
C) A focused low-cost strategy 
D) A focused differentiation strategy 
E) A best-cost provider strategy 
A) A low-cost provider strategy 
B) A broad differentiation strategy 
C) A focused low-cost strategy 
D) A focused differentiation strategy 
E) A best-cost provider strategy

Question 8

A company's realized business 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) choices among low-cost provider and differentiation strategies. 
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) choices among low-cost provider and differentiation strategies.

Question 9

Consider the following three companies and their strategies: Company A is an established database management company that acquires a well-reputed but small publishing house to enter the booming publishing industry.
Company B,a sports management house,declared bankruptcy during a recent recession but now has created a television network that airs regional sports events.
Company C,a package delivery business,is a startup based on delivery efficiency models created by a few students and delivers almost all kinds of packages.
Which of the following describes the use of strategies by these companies accurately?

Accepted Answer

A) Company B employs an emergent strategy,whereas companies A and C employ deliberate strategies. 
B) All three companies employ deliberate strategies. 
C) All three companies employ emergent strategies. 
D) Company C employs a deliberate strategy,whereas companies A and B employ emergent strategy. 
E) Companies A and C employ emergent strategies,whereas Company B employs a deliberate strategy. 
A) Company B employs an emergent strategy,whereas companies A and C employ deliberate strategies. 
B) All three companies employ deliberate strategies. 
C) All three companies employ emergent strategies. 
D) Company C employs a deliberate strategy,whereas companies A and B employ emergent strategy. 
E) Companies A and C employ emergent strategies,whereas Company B employs a deliberate strategy.

Question 10

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

Accepted Answer

A company's realized strategy is a combi

Question 11

Changing circumstances and ongoing managerial efforts to improve the strategy

Accepted Answer

A) account for why a company's strategy evolves over time. 
B) explain why a company's strategic vision undergoes almost constant change. 
C) make it very difficult for a company to have concrete strategic objectives. 
D) make it very hard to know what a company's strategy really is. 
E) are only necessary when rivals are gaining market share. 
A) account for why a company's strategy evolves over time. 
B) explain why a company's strategic vision undergoes almost constant change. 
C) make it very difficult for a company to have concrete strategic objectives. 
D) make it very hard to know what a company's strategy really is. 
E) are only necessary when rivals are gaining market share.

Question 12

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

Accepted Answer

A strategy consists of the actions and m

Question 13

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

Accepted Answer

A) An ongoing need to abandon those strategy features that are no longer working well 
B) The proactive efforts of company managers to improve the company's financial performance and secure a competitive advantage 
C) The need on the part of company managers to make no adjustments to the company's business model 
D) The need to respond to the actions and competitive moves of rival firms 
E) The need to keep strategy in step with changing industry and competitive conditions 
A) An ongoing need to abandon those strategy features that are no longer working well 
B) The proactive efforts of company managers to improve the company's financial performance and secure a competitive advantage 
C) The need on the part of company managers to make no adjustments to the company's business model 
D) The need to respond to the actions and competitive moves of rival firms 
E) The need to keep strategy in step with changing industry and competitive conditions

Question 14

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 15

Managers in all types of businesses must develop a clear answer for which of the following questions?

Accepted Answer

A) Where are we now? 
B) Where do we want to go from here? 
C) What is the set of actions that we need to take to outperform the company's competitors and achieve superior profitability? 
D) When will we know we are there? 
E) What moves and approaches do we need to gain an advantage in the marketplace? 
A) Where are we now? 
B) Where do we want to go from here? 
C) What is the set of actions that we need to take to outperform the company's competitors and achieve superior profitability? 
D) When will we know we are there? 
E) What moves and approaches do we need to gain an advantage in the marketplace?

Question 16

Different companies across different industries adopt any one of the five generic strategies to gain competitive advantage.Which of the following businesses is most likely to use a low-cost provider strategy?

Accepted Answer

A) A fashion clothing line uses sought-after designers and natural fabrics 
B) A mortgage company specializes in lending money for second homes 
C) An online retailer delivers organic groceries overnight 
D) A baby products retailer sells unassembled baby furniture produced in China 
E) A dairy products manufacturer uses exotic substitutes to produce lactose-free dairy products 
A) A fashion clothing line uses sought-after designers and natural fabrics 
B) A mortgage company specializes in lending money for second homes 
C) An online retailer delivers organic groceries overnight 
D) A baby products retailer sells unassembled baby furniture produced in China 
E) A dairy products manufacturer uses exotic substitutes to produce lactose-free dairy products

Question 17

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

Accepted Answer

The better conceived a company's strateg

Question 18

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

Accepted Answer

A) ongoing need of company managers to react and respond to changing industry and competitive conditions. 
B) ongoing need to imitate the new strategic moves of the industry leaders. 
C) need to make regular adjustments in the company's strategic vision. 
D) importance of developing a fresh strategic plan every year. 
E) frequent need to modify key elements of the company's business model. 
A) ongoing need of company managers to react and respond to changing industry and competitive conditions. 
B) ongoing need to imitate the new strategic moves of the industry leaders. 
C) need to make regular adjustments in the company's strategic vision. 
D) importance of developing a fresh strategic plan every year. 
E) frequent need to modify key elements of the company's business model.

Question 19

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

Accepted Answer

The nitty-gritty issue surrounding a com

Question 20

A company is unlikely to develop an emergent strategy due to

Accepted Answer

A) strategic moves by rival firms. 
B) unexpected shifts in customer preferences. 
C) fast-changing technological developments. 
D) new market opportunities. 
E) rivals' value chain deficiencies. 
A) strategic moves by rival firms. 
B) unexpected shifts in customer preferences. 
C) fast-changing technological developments. 
D) new market opportunities. 
E) rivals' value chain deficiencies.

A well-conceived strategy builds a company's

Which of the following is not typically a trigger to an evolving strategy?

What are the three criteria that determine whether or not a company has a winning strategy?

A creative,distinctive strategy that delivers a sustainable,competitive advantage is important because

Provide at least two examples of a company's competitively valuable capabilities.

A company's realized business strategy is made up of

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

Changing circumstances and ongoing managerial efforts to improve the strategy

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

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

A company achieves sustainable competitive advantage when

Managers in all types of businesses must develop a clear answer for which of the following questions?

Different companies across different industries adopt any one of the five generic strategies to gain competitive advantage.Which of the following businesses is most likely to use a low-cost provider strategy?

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

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

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

A company is unlikely to develop an emergent strategy due to

Strategy Formulation,execution,and Governance

Evaluating a Companys External Environment

Evaluating a Companys Resources, capabilities, and Competitiveness

The Five Generic Competitive Strategies

Strengthening a Companys Competitive Position: Strategic Moves, timing, and Scope of Operations

Strategies for Competing in International Markets

Corporate Strategy: Diversification and the Multibusiness Company

Ethics, corporate Social Responsibility, environmental Sustainability, and Strategy

Superior Strategy Executionanother Path to Competitive Advantage

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Exam 1: Strategy,business Models,and Competitive Advantage

A well-conceived strategy builds a company's

Which of the following is not typically a trigger to an evolving strategy?

What are the three criteria that determine whether or not a company has a winning strategy?

A creative,distinctive strategy that delivers a sustainable,competitive advantage is important because

Provide at least two examples of a company's competitively valuable capabilities.

A company's realized business strategy is made up of

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

Changing circumstances and ongoing managerial efforts to improve the strategy

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

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

A company achieves sustainable competitive advantage when

Managers in all types of businesses must develop a clear answer for which of the following questions?

Different companies across different industries adopt any one of the five generic strategies to gain competitive advantage.Which of the following businesses is most likely to use a low-cost provider strategy?

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

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

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

A company is unlikely to develop an emergent strategy due to

Strategy Formulation,execution,and Governance

Evaluating a Companys External Environment

Evaluating a Companys Resources, capabilities, and Competitiveness

The Five Generic Competitive Strategies

Strengthening a Companys Competitive Position: Strategic Moves, timing, and Scope of Operations

Strategies for Competing in International Markets

Corporate Strategy: Diversification and the Multibusiness Company

Ethics, corporate Social Responsibility, environmental Sustainability, and Strategy

Superior Strategy Executionanother Path to Competitive Advantage

Filters