Question 1

List five elements of an enterprise's business strategy.

Accepted Answer

The five elements of an enterprise's bus

Question 2

Why are capabilities critical to a company's quest for a sustainable competitive advantage?

Accepted Answer

Clever rivals can nearly always copy the

Question 3

Managers of every company should be willing and ready to modify their strategy because

Accepted Answer

A) market conditions and circumstances are changing over time or the current strategy is clearly failing. 
B) the task of crafting strategy is a one-time event. 
C) the strategic vision necessitates periodic updating. 
D) frequent changes in strategy make it very more difficult for rivals to imitate. 
E) all strategies are reactive. 
A) market conditions and circumstances are changing over time or the current strategy is clearly failing. 
B) the task of crafting strategy is a one-time event. 
C) the strategic vision necessitates periodic updating. 
D) frequent changes in strategy make it very more difficult for rivals to imitate. 
E) all strategies are reactive.

Question 4

An industrial air-conditioner manufacturing giant decides to outsource its operations to a new geographical location with cheaper labor amidst ongoing labor strikes in a few of its existing locations (due to proposed job cuts and relocation of the plant offshore).This draws criticism in its home market and affects its current market position and productivity.Which of the following would be an appropriate reactive (emergent)strategy while moving forward?

Accepted Answer

A) Hiring and training new talent to begin operations in the emerging market 
B) Acquiring a local computer chip marketing and distribution specialist firm in the new location 
C) Canceling the idea of outsourcing and retaining the existing workforce to run operations 
D) Shifting the existing workforce to the new geographical location and paying them according to new standards 
E) Canceling the job cuts till the market situation and entry operations stabilize 
A) Hiring and training new talent to begin operations in the emerging market 
B) Acquiring a local computer chip marketing and distribution specialist firm in the new location 
C) Canceling the idea of outsourcing and retaining the existing workforce to run operations 
D) Shifting the existing workforce to the new geographical location and paying them according to new standards 
E) Canceling the job cuts till the market situation and entry operations stabilize

Question 5

A company's business model

Accepted Answer

A) specifies the goals of above-average profitability and outstanding financial performance. 
B) is unrelated to its customer value proposition and profit formula. 
C) has nothing to do with whether it can execute its customer value proposition profitably. 
D) is management's blueprint for delivering a valuable product or service to customers in a manner that will yield an attractive profit. 
E) specifies exactly how it intends to outcompete its rivals to achieve its strategic vision. 
A) specifies the goals of above-average profitability and outstanding financial performance. 
B) is unrelated to its customer value proposition and profit formula. 
C) has nothing to do with whether it can execute its customer value proposition profitably. 
D) is management's blueprint for delivering a valuable product or service to customers in a manner that will yield an attractive profit. 
E) specifies exactly how it intends to outcompete its rivals to achieve its strategic vision.

Question 6

A company achieves a sustainable competitive advantage when

Accepted Answer

A) its distinctive product offering is trumped by rivals' products. 
B) it pursues a best-cost provider strategy. 
C) competitors erode or imitate its efforts to attain a competitive advantage. 
D) an attractively large number of buyers develop a durable preference for its rivals' offerings of products or services. 
E) it develops capabilities proven difficult for competitors to imitate or best. 
A) its distinctive product offering is trumped by rivals' products. 
B) it pursues a best-cost provider strategy. 
C) competitors erode or imitate its efforts to attain a competitive advantage. 
D) an attractively large number of buyers develop a durable preference for its rivals' offerings of products or services. 
E) it develops capabilities proven difficult for competitors to imitate or best.

Question 7

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

Accepted Answer

A company's business model incorporates

Question 8

Which of the following statements about a company's realized strategy is true?

Accepted Answer

A) A company's realized strategy is mostly hidden to outside view and is deliberately kept under wraps by top-level managers. 
B) A company's realized strategy is typically planned well in advance and usually deviates little from the planned set of actions. 
C) A company's realized strategy generally changes very little over time unless a newly appointed CEO decides to take the company in a new direction with a new strategy. 
D) A company's realized strategy is typically a blend of deliberate and/or planned initiatives and emergent and/or unplanned reactive strategy elements. 
E) A company's realized strategy is developed mostly on the fly because of the constant efforts of managers to keep rival companies at a disadvantage. 
A) A company's realized strategy is mostly hidden to outside view and is deliberately kept under wraps by top-level managers. 
B) A company's realized strategy is typically planned well in advance and usually deviates little from the planned set of actions. 
C) A company's realized strategy generally changes very little over time unless a newly appointed CEO decides to take the company in a new direction with a new strategy. 
D) A company's realized strategy is typically a blend of deliberate and/or planned initiatives and emergent and/or unplanned reactive strategy elements. 
E) A company's realized strategy is developed mostly on the fly because of the constant efforts of managers to keep rival companies at a disadvantage.

Question 9

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

Accepted Answer

A) is a reliable indicator that the company has a profitable business model. 
B) is a company's most reliable ticket to above-average profitability. 
C) signals that the company has a bold,ambitious strategic intent that places the achievement of strategic objectives ahead of the achievement of financial objectives. 
D) is the best indicator that the company's strategy and business model are well matched and properly synchronized. 
E) allows a company's managers to ignore competitors' responses to any moves that the company might make. 
A) is a reliable indicator that the company has a profitable business model. 
B) is a company's most reliable ticket to above-average profitability. 
C) signals that the company has a bold,ambitious strategic intent that places the achievement of strategic objectives ahead of the achievement of financial objectives. 
D) is the best indicator that the company's strategy and business model are well matched and properly synchronized. 
E) allows a company's managers to ignore competitors' responses to any moves that the company might make.

Question 10

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

Accepted Answer

A) are the actions and moves in the marketplace that managers take to gain a sustainable competitive advantage. 
B) is figuring out how to maximize profits and shareholder value. 
C) concerns how to improve the efficiency of its business model. 
D) deals with how management plans to maximize profits while,at the same time,operating in a socially responsible manner. 
E) is figuring out how to become the industry's low-cost provider. 
A) are the actions and moves in the marketplace that managers take to gain a sustainable competitive advantage. 
B) is figuring out how to maximize profits and shareholder value. 
C) concerns how to improve the efficiency of its business model. 
D) deals with how management plans to maximize profits while,at the same time,operating in a socially responsible manner. 
E) is figuring out how to become the industry's low-cost provider.

Question 11

A company's strategy consists of

Accepted Answer

A) actions to develop a more appealing business model than rivals. 
B) plans involving alignment of organizational activities and strategic objectives. 
C) offensive and defensive moves to generate revenues and increase profit margins. 
D) competitive moves and approaches that managers have developed to grow the business,attract and please customers,conduct operations,and achieve targeted objectives. 
E) its strategic vision,its strategic objectives,and its strategic intent. 
A) actions to develop a more appealing business model than rivals. 
B) plans involving alignment of organizational activities and strategic objectives. 
C) offensive and defensive moves to generate revenues and increase profit margins. 
D) competitive moves and approaches that managers have developed to grow the business,attract and please customers,conduct operations,and achieve targeted objectives. 
E) its strategic vision,its strategic objectives,and its strategic intent.

Question 12

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

Accepted Answer

A) strategy. 
B) moves to imitate key rivals. 
C) strategic mission. 
D) business model. 
E) strategic vision. 
A) strategy. 
B) moves to imitate key rivals. 
C) strategic mission. 
D) business model. 
E) strategic vision.

Question 13

A pharmaceutical giant acquires a manufacturer of rare specialty drugs to improve its falling share prices and invests all its wealth into the deal.Due to a deficit,it agrees to do a joint venture for the acquisition and involves a major automobile giant to fund the deal.After a rocky start,the companies now have a strong market position and generate good profits.Which of the following regarding the company's strategy is true?

Accepted Answer

A) It fails the performance test. 
B) It fails the competitive advantage and the fit tests. 
C) It is a winning strategy. 
D) It fails in all three tests. 
E) It fails the fit test,but passes the competitive advantage and performance tests. 
A) It fails the performance test. 
B) It fails the competitive advantage and the fit tests. 
C) It is a winning strategy. 
D) It fails in all three tests. 
E) It fails the fit test,but passes the competitive advantage and performance tests.

Question 14

A winning strategy is one that

Accepted Answer

A) builds strategic fit,is socially responsible,and maximizes shareholder wealth. 
B) is highly profitable and boosts the company's market share. 
C) results in a company becoming the dominant industry leader. 
D) fits the company's internal and external situation,builds a sustainable competitive advantage,and improves the company's performance. 
E) can pass the ethical standards test,the strategic intent test,and the profitability test. 
A) builds strategic fit,is socially responsible,and maximizes shareholder wealth. 
B) is highly profitable and boosts the company's market share. 
C) results in a company becoming the dominant industry leader. 
D) fits the company's internal and external situation,builds a sustainable competitive advantage,and improves the company's performance. 
E) can pass the ethical standards test,the strategic intent test,and the profitability test.

Question 15

Which of the following is not included in proven approaches to winning a sustainable competitive advantage?

Accepted Answer

A) Developing a low-cost-based advantage 
B) Creating a broad differentiation-based advantage 
C) Focusing on a narrow market niche within an industry 
D) Developing a best-cost provider strategy 
E) Crafting a broad-cost provider strategy 
A) Developing a low-cost-based advantage 
B) Creating a broad differentiation-based advantage 
C) Focusing on a narrow market niche within an industry 
D) Developing a best-cost provider strategy 
E) Crafting a broad-cost provider strategy

Question 16

Which of the following is an issue not likely to be addressed by a company's business strategy?

Accepted Answer

A) Actions to respond to changing economic and market conditions 
B) Actions to supplement the company's resources and capabilities through alliances and joint ventures 
C) Reactions to offensive moves by rival sellers 
D) Actions and approaches used in managing the functional areas of the business 
E) Actions and approaches to mimic rivals' moves in the marketplace 
A) Actions to respond to changing economic and market conditions 
B) Actions to supplement the company's resources and capabilities through alliances and joint ventures 
C) Reactions to offensive moves by rival sellers 
D) Actions and approaches used in managing the functional areas of the business 
E) Actions and approaches to mimic rivals' moves in the marketplace

Question 17

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

Accepted Answer

A) Aiming for a cost-based competitive advantage 
B) Outcompeting rivals on the basis of such differentiating features as higher quality,wider product selection,added performance,better service,or more attractive styling 
C) Simply trying to mimic the successful strategies of rivals 
D) Focusing on a narrow market niche and winning a competitive edge by doing a better job than rivals of satisfying the needs and tastes of buyers comprising the niche 
E) Developing expertise and resources that give the company competitive capabilities that rivals cannot easily imitate or trump with capabilities of their own 
A) Aiming for a cost-based competitive advantage 
B) Outcompeting rivals on the basis of such differentiating features as higher quality,wider product selection,added performance,better service,or more attractive styling 
C) Simply trying to mimic the successful strategies of rivals 
D) Focusing on a narrow market niche and winning a competitive edge by doing a better job than rivals of satisfying the needs and tastes of buyers comprising the niche 
E) Developing expertise and resources that give the company competitive capabilities that rivals cannot easily imitate or trump with capabilities of their own

Question 18

To which of the following firms is the term "repeatedly evolving strategy" most applicable?

Accepted Answer

A) A government agency that makes plans for a set period of time and implements them phase-by-phase during their tenure 
B) A mobile company,established in a saturated market,that aims at a quarterly release of new products 
C) A new cosmetics manufacturer in a market that replicates the products of a competitor at a moderate quality and lower price 
D) A nationalized bank that lends at a lower interest rate but with a zero processing fee in a market crowded with privatized banks running at high cost 
E) A firearms regulatory agency,set up by the government,that publishes industry standards for safety,reliability,and quality of arms and ammunition 
A) A government agency that makes plans for a set period of time and implements them phase-by-phase during their tenure 
B) A mobile company,established in a saturated market,that aims at a quarterly release of new products 
C) A new cosmetics manufacturer in a market that replicates the products of a competitor at a moderate quality and lower price 
D) A nationalized bank that lends at a lower interest rate but with a zero processing fee in a market crowded with privatized banks running at high cost 
E) A firearms regulatory agency,set up by the government,that publishes industry standards for safety,reliability,and quality of arms and ammunition

Question 19

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

Accepted Answer

A company's strategy tends to

List five elements of an enterprise's business strategy.

Why are capabilities critical to a company's quest for a sustainable competitive advantage?

Managers of every company should be willing and ready to modify their strategy because

A company's business model

A company achieves a sustainable competitive advantage when

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

Which of the following statements about a company's realized strategy is true?

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

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

A company's strategy consists of

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 winning strategy is one that

Which of the following is not included in proven approaches to winning a sustainable competitive advantage?

Which of the following is an issue not likely to be addressed by a company's business strategy?

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

To which of the following firms is the term "repeatedly evolving strategy" most applicable?

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

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

Exam 1: Strategy,business Models,and Competitive Advantage

List five elements of an enterprise's business strategy.

Why are capabilities critical to a company's quest for a sustainable competitive advantage?

Managers of every company should be willing and ready to modify their strategy because

A company's business model

A company achieves a sustainable competitive advantage when

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

Which of the following statements about a company's realized strategy is true?

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

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

A company's strategy consists of

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 winning strategy is one that

Which of the following is not included in proven approaches to winning a sustainable competitive advantage?

Which of the following is an issue not likely to be addressed by a company's business strategy?

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

To which of the following firms is the term "repeatedly evolving strategy" most applicable?

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

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