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TEST BANK For Strategic Management, 6th Edition 2024
By Rothaermel Frank, Verified Chapters 1 - 12, Complete
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Strategic Management 6th Edition Rothaermel Frank
ISBN 9781265954574
Chapter 1-12 Answers Are At The End Of Each Chapter
Chapter 1
Student Name:
1) A Good Strategy Allows A Firm To Achieve Superior Performance And Sustainable
Competitive Advantage Without Regard To The External Environment.
⊚ True
⊚ False
2) The Following Statement By The Chief Executive Of Megafilms Movie Studio Should
Not Be Used As A Strategy: “We Will Produce The Greatest Films Of The 21st
Century.”
⊚ True
⊚ False
3) The Three Tasks Of The AFI Strategy Framework Are To Assemble A Prototype, Find A
Buyer, And Incorporate Feedback.
⊚ True
⊚ False
4) Questions Asked During The Strategy Analysis Stage Of The AFI Framework Should
Include “What Effects Do Forces In The External Environment Have On The Firm’s
Potential To Gain And Sustain A Competitive Advantage?”
⊚ True
⊚ False
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5) Once A Strategy Has Been Formulated And Implemented, It Is Important That The Firm
Sticks To It No Matter What Happens.
⊚ True
⊚ False
6) Because They Are A Crucial Component Of A Firm’s Success, Customers Are Considered
Internal Stakeholders.
⊚ True
⊚ False
7) A Firm Is Required By Society And Its Shareholders To Meet Its Ethical And
Philanthropic Responsibilities.
⊚ True
⊚ False
8) Stakeholder Impact Analysis Provides A Decision Tool That Helps Strategic Leaders
Recognize The Needs Of Different Stakeholders.
⊚ True
⊚ False
9) Juan Wants To Open His Own Hot Dog Restaurant But Doesn’t Know Anything About
Business. He Needs Help Determining Who His Competition Is, How He Should Craft His
Strategy To Compete And How He’ll Implement His Strategy To Achieve A Competitive
Advantage. He’s Hired You To Help Him Get Started. As A Result, You Will Probably Use
Which Of The Following?
A) AFI Strategy Framework
B) Red Queen Effect
C) Competitive Benchmarking
D) Stakeholder Impact Analysis
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10) Roberta Is Interested In The Concept Of Strategy And Decides To Create Her Own. As
A Result, Roberta Says That Her Strategy Is To Focus On Competitive Benchmarking
To Achieve Competitive Advantage. Which Is The Best Evaluation Of Roberta’s
Statement?
A) Roberta’s Strategy Is Clear, But She Should Provide More Detail.
B) Roberta’s Strategy Reveals A Clear Strategic Position And Tradeoff, So She
Should Proceed.
C) Roberta Should Reevaluate Her Statement Because It Fails To Mention More
Than One Strategy.
D) Roberta Should Reevaluate Her Statement Because It Fails To Meet The Principles
Of What A Strategy Should Be.
11) Tony’s Pizza Shop Is Able To Net $10,000 A Week; This Makes The Shop Profitable. Its
Number One Competitor, Leo’s Pies, Is Also Profitable, Netting $12,000 A Week. Lil
Anthony’s Pizza Palace Nets $13,000 A Week. Since Tony’s Pizza Shop Is Profitable, We
Can Conclude That It Has A Competitive Advantage In Its Industry.
A) True—Competitive Advantage Is Achieved Through Profitability Alone.
B) True—Competitive Advantage Is Achieved Since Tony Has A Positive Net Income.
C) False—Competitive Advantage Is Only Achieved By Generating Above Average
Returns, Relative To Competition.
D) False—Tony More Than Likely Has A Sustained Competitive Advantage Since
He’s Been In Business Longer.
12) Bill’s Auto & Airplane Repair Shop Is Able To Generate A Positive Net Income Of
$10,000 A Week, Which Is About The Same As The Income Of A Close Competitor. As
A Result, We Can Conclude That The Two Businesses Also Have A Competitive Parity
In The Industry.
A) Correct—Competitive Advantage Is Achieved Through Profitability Alone.
B) Correct—Competitive Advantage Is Achieved Since Bill’s Auto & Airplane Repair
Shop Has A Positive Net Income.
C) Correct—Competitive Parity Is A Performance Of Two Or More Firms At The Same
Level.
D) Incorrect—Bill’s Auto & Airplane Repair Shop More Than Likely Has A
Sustained Competitive Advantage Because The Business Is Diversified.
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TEST BANK For Strategic Management, 6th Edition 2024
By Rothaermel Frank, Verified Chapters 1 - 12, Complete
Newest Version
Downloaded by: entaoxu | Want to earn $1.236
Distribution of this document is illegal extra per year?
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
Strategic Management 6th Edition Rothaermel Frank
ISBN 9781265954574
Chapter 1-12 Answers Are At The End Of Each Chapter
Chapter 1
Student Name:
1) A Good Strategy Allows A Firm To Achieve Superior Performance And Sustainable
Competitive Advantage Without Regard To The External Environment.
⊚ True
⊚ False
2) The Following Statement By The Chief Executive Of Megafilms Movie Studio Should
Not Be Used As A Strategy: “We Will Produce The Greatest Films Of The 21st
Century.”
⊚ True
⊚ False
3) The Three Tasks Of The AFI Strategy Framework Are To Assemble A Prototype, Find A
Buyer, And Incorporate Feedback.
⊚ True
⊚ False
4) Questions Asked During The Strategy Analysis Stage Of The AFI Framework Should
Include “What Effects Do Forces In The External Environment Have On The Firm’s
Potential To Gain And Sustain A Competitive Advantage?”
⊚ True
⊚ False
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5) Once A Strategy Has Been Formulated And Implemented, It Is Important That The Firm
Sticks To It No Matter What Happens.
⊚ True
⊚ False
6) Because They Are A Crucial Component Of A Firm’s Success, Customers Are Considered
Internal Stakeholders.
⊚ True
⊚ False
7) A Firm Is Required By Society And Its Shareholders To Meet Its Ethical And
Philanthropic Responsibilities.
⊚ True
⊚ False
8) Stakeholder Impact Analysis Provides A Decision Tool That Helps Strategic Leaders
Recognize The Needs Of Different Stakeholders.
⊚ True
⊚ False
9) Juan Wants To Open His Own Hot Dog Restaurant But Doesn’t Know Anything About
Business. He Needs Help Determining Who His Competition Is, How He Should Craft His
Strategy To Compete And How He’ll Implement His Strategy To Achieve A Competitive
Advantage. He’s Hired You To Help Him Get Started. As A Result, You Will Probably Use
Which Of The Following?
A) AFI Strategy Framework
B) Red Queen Effect
C) Competitive Benchmarking
D) Stakeholder Impact Analysis
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10) Roberta Is Interested In The Concept Of Strategy And Decides To Create Her Own. As
A Result, Roberta Says That Her Strategy Is To Focus On Competitive Benchmarking
To Achieve Competitive Advantage. Which Is The Best Evaluation Of Roberta’s
Statement?
A) Roberta’s Strategy Is Clear, But She Should Provide More Detail.
B) Roberta’s Strategy Reveals A Clear Strategic Position And Tradeoff, So She
Should Proceed.
C) Roberta Should Reevaluate Her Statement Because It Fails To Mention More
Than One Strategy.
D) Roberta Should Reevaluate Her Statement Because It Fails To Meet The Principles
Of What A Strategy Should Be.
11) Tony’s Pizza Shop Is Able To Net $10,000 A Week; This Makes The Shop Profitable. Its
Number One Competitor, Leo’s Pies, Is Also Profitable, Netting $12,000 A Week. Lil
Anthony’s Pizza Palace Nets $13,000 A Week. Since Tony’s Pizza Shop Is Profitable, We
Can Conclude That It Has A Competitive Advantage In Its Industry.
A) True—Competitive Advantage Is Achieved Through Profitability Alone.
B) True—Competitive Advantage Is Achieved Since Tony Has A Positive Net Income.
C) False—Competitive Advantage Is Only Achieved By Generating Above Average
Returns, Relative To Competition.
D) False—Tony More Than Likely Has A Sustained Competitive Advantage Since
He’s Been In Business Longer.
12) Bill’s Auto & Airplane Repair Shop Is Able To Generate A Positive Net Income Of
$10,000 A Week, Which Is About The Same As The Income Of A Close Competitor. As
A Result, We Can Conclude That The Two Businesses Also Have A Competitive Parity
In The Industry.
A) Correct—Competitive Advantage Is Achieved Through Profitability Alone.
B) Correct—Competitive Advantage Is Achieved Since Bill’s Auto & Airplane Repair
Shop Has A Positive Net Income.
C) Correct—Competitive Parity Is A Performance Of Two Or More Firms At The Same
Level.
D) Incorrect—Bill’s Auto & Airplane Repair Shop More Than Likely Has A
Sustained Competitive Advantage Because The Business Is Diversified.
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