question

A winning strategy is one that

answer

Helps the company achieve

question

the two crucial elements of a company's business model are

answer

its customer value proposition and its profit proposition or "profit formula"

question

The difference between a company's business model and a company's strategy is that

answer

Its business model relates to management' blueprint for delivering a valuable product

question

For a company's strategy to qualify as "ethical", it is important

answer

for the strategy not to entail actions or behaviors

question

In crafting a strategy, management is in effect saying

answer

"among all the many different business approaches and ways of competing we could have chosen"

question

Good strategy combined with good strategy exectution

answer

are strongly correlated with how well the company performs both financially and in the marketplace

question

A company's strategy evolves from one version to the next

answer

as managers abonden obsolete or ineffective strategy elements, settle upon a set of proactive strategy elements

question

The customer value proposition portion of a company's business model concerns

answer

the company's approach to satisfying buy needs and requirements at a price they

question

Based on Figure 1.1, which of the following is not something to look for in identifying a company's strategy?

answer

Actions to raise or lower the company's performance targets and actions to pay down the company's long-term debt

question

A company's strategy

answer

represents managerial commitment to undertake one set of actions rather than another in an effort to compete successfully and achieve good performance

question

crafting an ethical strategy requires that managers

answer

carefully and conscientiously consider whether each proposed strategy element can pass the test

question

Which of the following statement about a company's strategy is false?

answer

a company's strategy is deliberately kept under wraps by top level managers so as to catch rival companies by surprise and keep them off balance

question

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

answer

the need on the part of company managers to make regular strategy adjustments so

question

A company achieves sustainable competitive advantage when

answer

An attractive number of buyers are drawn to purchase

question

What makes a competitive advantage sustainable or durable as opposed to temporary is

answer

actions or elements in the strategy that causes an attractive number of buyers to have lasting reasons to purchase a company's products or services

question

The difference between a company's mission statement and the concept of a strategic vision is that

answer

the strategic vision portrays a company's future direction

question

which of the following is not among the principal managerial tasks associated with implementing and executing a company's strategy?

answer

Pushing employees to work hard, do their very best, and meet or beat

question

Masterful strategies come from

answer

doing things differently from competitors where is counts

question

The primary role/obligations of a company's board of directors in the strategy-making, strategy-executing process include

answer

critically appraising the company's direction, strategy, and business approaches and

question

Managerial jobs with strategy-making responsibiliy

answer

typically extend throughout the managerial ranks

question

Business strategy, as distinct from corporate strategy, is

answer

focused on forging actions and approaches to compete successfully and perform well in one specific line of business

question

Which of the following are key tasks in the strategy-making, strategy-executing process?

answer

Developing a strategic vision, mission, and core values; setting objectives; and crafting a strategy

question

A company's strategic vision

answer

delineates management's aspirations for the business, providing a panoramic view of "where we are going"

question

Effectively communicating the strategic vision to company personnel is important because

answer

if company personnel do not understand or accept the rationale for heading in the direction top

question

A company exhibits strategic intent when

answer

it relentlessly pursues an ambitious strategic objective, concentrating the full force of its resources and competitive actions on achieving that objective

question

operating strategies concern

answer

the relatively narrow strategic initiatives and approaches for managing key operating units

question

a company's strategic plan

answer

lays out its future direction

question

a company's overall strategy

answer

is really a collection of strategic initiatives

question

which one of the following questions is not something company managers should consider in thinking strategically about their company's directional path and developing a strategic vision?

answer

what business approaches and

question

A set of "stretch" financial and strategic objectives

answer

helps a company avoid ho-hum results

question

Which of the following is the best example of a well-stated strategic objective?

answer

Within 2 years, achieve costs per unit

question

which of the following are characteristics of an effectively-worded strategic vision statement?

answer

Graphic, forward-looking and directional, and focused

question

A company that pursues and achieves strategic objectives

answer

is frequently better able to improve its future financial performance

question

Using the five-forces model of competition to determine what competition is like in a given industry involves

answer

building the picture of comp

question

Based on figure 3.4, which of the following is not a typcial competitive weapon that a company can use to battle rivals and attract buyers?

answer

Constructing the biggest production

question

The rivalry among competing sellers tend to be more intense when

answer

industry members have too much inventory or significant amounts

question

competitive pressures stemming from the threat of entry are stronger when

answer

the pool of entry candidates is large

question

Whether buyer bargaining power poses a strong or weak source of competitive pressure on industry members depends in part on

answer

the price sensititvity

question

in which of the following instances are industry memebers subject to stronger competitive pressures from substitute products?

answer

when substitutes are readily available

question

Which of the following is generally not considered as a barrier to entry

answer

Rapid market growth and weakly differentiated product offerings on the part of

question

In evaluating whether potential entry is strong or weak competitive force, it is important for company managers to consider

answer

whether entry barriers are high or low, the size of the pool

question

Whether supplier bargaining power represents a strong or weak source of competitive pressure is affected by

answer

whether the item being supplied is a standard item

question

In mapping the positions of strategic groups in an industry

answer

the best variables to use as axes are those

question

Evaluating whether the outlook for an industry presents a company with good prospects for attractive profitability and growhth usually does not involve a consideration of which of the following factors

answer

whether the industry's product is strongly or weakly diff

question

As a rule, the weaker the collective impact of competitive pressures associated with the five competitive forces

answer

the easier it is for industry members

question

The key success factors in an industry

answer

are those competitive factors that most affect members'

question

Industry conditions change

answer

because forces in the industry environment are enticing

question

Which of the following is not a major question to ask in gaining deep understanding about a company's industry and competitive environment?

answer

How big is the market for the industry's pro

question

While doing the necessary detective work can be tedious

answer

enabling to prepare effective

question

potential entrants are more likely to be deterred

answer

industry incumbents

question

Factors that weaken the rivalry among competing sellers include

answer

rapid growth in buyer demand, high buyer costs to switch

question

Which of the following is not a factor to be considered in the five-forces model of competition?

answer

competitive pressures created by shifting industry key

question

two useful tools for determining whether a company's customer value proposition, prices, and costs are competitive are

answer

value chain analysis and be

question

the value of doing a weighted comp

answer

learn how the company ranks rel

question

the best example of a company strength is

answer

having proven technological e

question

a potent tool for learning which companies are best at

answer

benchmarking

question

in table 4.2, which one of the following is not an example of a potential

answer

a product offering that is not

question

calculated weighted competitive strength scores for a company and comparing them against the

answer

helps a company decide what

question

in table 4.2, which of the following is not an example of a potential external threat to a com

answer

the company's lack of well-known

question

To build a competitive advantage by "out-managing" rivals

answer

beat rivals in performing value chain

question

which of the following statements about company value chains is false?

answer

the activites that comprise a

question

Which one of the following is not a part of determining whether a company's prices and costs are competitve?

answer

Resource value analysis

question

Which of the following is not accurate as concerns the task of identifying the strategic issues and problems that merit front-burner mangerial attention?

answer

identifying the strategic issues and problems that the company faces

question

the three best indicatiors of how well a company's present strategy is working are whether

answer

the company is achieving its stated financial

question

in table 4.2, which one of the following is not an example of a potential market opportunity

answer

a situation where several of the company's weakest

question

when a company performs an activity quite well

answer

a core competence in performing

question

the two most important parts of SWOT analysis are

answer

(1) drawing conclusions from the four SWOT lists about the company's overall situation (2) translating

question

Which of the following is not a means of lowering the otherwise high costs of internally performed value chain activities?

answer

Implementing an activity- based cot accounting system

question

which one of the following is not part of conducting a SWOT analysis?

answer

determining whether the company's resource strengths are app

question

In a weighted competitive strength assessment

answer

1

question

The competitive power of a company resource strength or competitive capability does not hinge

answer

whether the strength or capability represents a distinctive competence

question

Which of the following is not a component of evaluating a company's resource capabilities, relative position,

answer

scanning the environment to determine which company resource strength

question

broad differentiation strategies are well

answer

there are many ways to

question

Which of the following is not one of the ways that a company can achieve a

answer

improving product design and production

question

Which of the following statements about a best-cost provider strategy is false

answer

the big appeal of a best-cost provider strategy is being able to offer

question

A company can achieve a sustainable competitive advantage via diff

answer

incorporating product attributes and user features that

question

In which one of the following instances is a focused strategy keyed either to low-cost or

answer

most buyers use the product in the same ways

question

A company achieves best-cost provider status by

answer

using its resources and capabilities to incorp

question

the two biggest factors that distinguish

answer

whether a company's market target is broad or narrow

question

a focused low-cost strategy seeks to achieve

answer

serving buyers in

question

The two major avenues for achieving

answer

revamping the firm's value chain

question

the essence of a broad diff

answer

offer unique

question

the pitfalls of a diff

answer

differentiating on the basis of attributes that

question

Which of the following is not one of the five generic

answer

a superior customer

question

The chief difference between a broad differentiation strategy

answer

the size of the buyer group that a company is trying to appeal

question

Which of the following is not one of the pitfalls of a low-cost

answer

being greedy

question

A low-cost leader's basis

answer

lower overall costs than rivals

question

Which of the following is not an action that a company

answer

shifting to the use of technologies

question

A broad differentiation strategy enhances pro

answer

a company is able to either keep the costs of achieving

question

a low-cost leader can translate its low-cost

answer

either using its low-cost edge to underprice com

question

A low-cost provider strategy becomes increasi

answer

price competition among rival

question

a company's competitive strategy is unlikely to

answer

the company has a competitively valuable collection

question

which of the following is not a potential advantage

answer

reduced business risk because of controlling

question

a strategic alliance

answer

is a collaborative arrangement where two or more companies join forces

question

Because when to make a strategic move can be just as important as what move to make

answer

to carefully weight the first-mover

question

Which of the following is not a typical strategic

answer

to facilitate

question

which of the following conditions do not constitute a late

answer

when buyer demands

question

The two best reasons for investing a com

answer

strengthen the company's com

question

which of the following is not one of the strategic options that companies have

answer

creating as much channel

question

the best strategic alliances

answer

are highly selective, focusing

question

which one of the following is not a defensive option for protecting

answer

deliberately attacking those

question

based on Figure 6.1

answer

exerting addition

question

a blue ocean

answer

involves abandoning eff

question

which one of the following is an example of an offen

answer

pursuing disruptive product inn

question

which of the following is not among the potential benefits

answer

improving a company's ability to strongly

question

for backward vertical integration into the business

answer

must be able to achieve the same scale

question

which of the following is not a typical reason that many alliances are short-lived or break

answer

disagreement

question

Because buyer tastes for a particular product or

answer

companies operating in a

question

which of the following is not one of the primary strategy options for

answer

employing a multiple cross-country that involves

question

The advantages of using a franchising strategy to pursue

answer

having franchisees bear most of the costs and risks

question

Which of the following is not among the important

answer

how best to revamp the com

question

a company that has compet

answer

tranferring

question

in which of the following situations is employing a "think

answer

when a company is striving

question

The calssic

answer

to achieve low costs in

question

which of the following is not a pote

answer

greater ability to employ

question

multicountry competition refers

answer

there's so much cross-country var

question

which of the following qualifies as an offen

answer

attacking the profit

question

a u.s. manufacturer

answer

becomes more cost competitive in selling its exported goods in foreign markets when the u.s. dollar declines

question

which of the following is the most unlikely

answer

selling diffe

question

competing in one

answer

differing govern

question

according to figure 7.2

answer

a localized multicountry strategy involves competing

question

which one of the following is not a reason why a

answer

to build the profit

question

Which one of the following approaches to objective-setting should definitely be avoided?

answer

Setting unspecific targets like maximize profits, reduce costs, become more efficient, or increase revenues

question

A company's values related to such things as

answer

Fair treatment, honor and integrity, ethical behavior, innovativeness, teamwork, accountability, a passion for top-

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