Question 1

Mercedes-Benz operates on a ______ business strategy.

Accepted Answer

A) cost-leadership 
B) premium customer 
C) resource utilization 
D) differentiation

Question 2

A firm's vision, mission, strategy, and tactics are broadly constrained in three ways.What are they and how do they constrain the firm?

Accepted Answer

The answer of A firm's vision, mission, strategy, and tactics...

Question 3

Walmart's core competency is efficient distribution.

Accepted Answer

A) True 
 B)False

Question 4

CSR can be viewed as ______.

Accepted Answer

A) a set of defensive policies 
B) a set of offensive strategies 
C) a set of defensive policies and a set of offensive strategies 
D) neither of these

Question 5

The ______ determines how the organization is going to undertake its ______.

Accepted Answer

A) strategy; mission 
B) mission; tactics 
C) vision; mission 
D) vision; strategy

Question 6

Define each of the following terms: vision, mission, strategy, and tactics.What is the relationship among them in relation to a firm's strategic planning process?

Accepted Answer

The answer of Define each of the following terms: vision,...

Question 7

You own a small bakery and focus on developing highly skilled employees and baking the best, highest quality, and most tasty bakery items possible, with little regard for what other bakeries are doing.This best exemplifies the ______ perspective on business strategy.

Accepted Answer

A) industry 
B) financial 
C) strategic CSR 
D) resources

Question 8

The resources perspective on business strategy ______.

Accepted Answer

A) deemphasizes the external context in which the firm operates 
B) has been disproven through research 
C) is too narrow, focusing only on assets, not processes 
D) focuses on the firm's competitive operating environment

Question 9

A company with a ______ is more vulnerable to CSR transgressions than a company with a ______.

Accepted Answer

A) lifestyle brand strategy; low-cost strategy 
B) low-cost strategy; lifestyle brand strategy 
C) differentiation strategy; lifestyle brand strategy 
D) low-cost strategy; differentiation strategy

Question 10

Outline the industry perspective on business strategy.Choose an example industry and conduct an analysis of its competitive structure using Porter's Five Forces model.

Accepted Answer

The answer of Outline the industry perspective on business strategy.Choose...

Question 11

Which of the following is a limitation of the resources perspective?

Accepted Answer

A) It provides a description of the firm that is overly deliberate and rational. 
B) It focuses too much on a firm's competitors. 
C) It provides a description of the firm that is not very deliberate or rational. 
D) It presents business as a combative pursuit.

Question 12

Which of the following does Porter's Five Forces Model NOT include?

Accepted Answer

A) suppliers 
B) buyers 
C) government regulation 
D) industry rivalry

Question 13

Digital innovation has disrupted a number of industries.Which of the following firms have remained profitable?

Accepted Answer

A) The New York Times 
B) Verizon 
C) Barnes & Noble 
D) Universal Music

Question 14

IKEA's ______ statement is "To create a better everyday life for the many people."

Accepted Answer

A) mission 
B) vision 
C) strategy 
D) tactics

Question 15

The urgency with which corporate social responsibility policies are implemented depends on the perceived CSR threshold and the priority the issue holds for the firm's leaders.

Accepted Answer

A) True 
 B)False

Question 16

The textbook states that companies can pursue an effective corporate social responsibility policy of either offense or defense.What does this mean? In your answer, provide detailed examples of both approaches.

Accepted Answer

The answer of The textbook states that companies can pursue...

Question 17

Walmart most likely has a higher CSR threshold because ______.

Accepted Answer

A) it is a big company 
B) it deals with the public 
C) it has a business strategy that pursues low costs 
D) it is undertaking an extensive corporate social responsibility effort

Question 18

What are the firm's most valuable resources or most innovative capabilities?

Accepted Answer

A) its people 
B) its finances 
C) its competencies 
D) its strategies

Question 19

One of the reasons that Amazon is successful is that it has achieved a core competency in managing its ______.

Accepted Answer

A) workforce 
B) board of directors 
C) products 
D) supply chain

Question 20

In Jay Barney's model, VRIO stands for which four concepts?

Accepted Answer

A) variability, returns, industry, operations 
B) valuable, rare, imitate, organized 
C) valuable, returns, industry, organized 
D) variability, rare, imitate, operations

Exam 9: Strategy CSR