MGMT 5560 EXAM 1 GLO-BUS
QUESTIONS & ANSWERS PASSED
100% ALREADY GRADED A+
The difference between a company's strategy and a company's business model is that -
Correct Answer ✔✔ its strategy is defined by the specific market positioning,
competitive moves, and business approaches management employes to try to produce
good business results while its business model relates to management's blueprint for
delivering a valuable product or service to customers in a manner that will generate
revenues sufficient to cover costs and yield an attractive profit
Which of the following is NOT something a company's strategy is concerned with -
Correct Answer ✔✔ Management's choice of which of several alternative business
models to employ in delivering value to customers and to shareholders
A portion of a company's strategy is always developed on the fly because - Correct
Answer ✔✔ managers must always be willing to supplement or modify various proactive
strategy elements with as-needed reactions to unanticipated happenings in the
surrounding environment
Which of the following questions can be used to distinguish a winning strategy from a
mediocre or losing strategy? - Correct Answer ✔✔ How well does the strategy fit the
company's situation?
The reputational and financial damage that unethical strategies and behavior can do to
a company - Correct Answer ✔✔ is substantial; consequently, there are good business
reasons for a company and its personnel to avoid unethical strategic actions and
behaviors
A company's business model - Correct Answer ✔✔ sets forth how its strategy and
operating approaches will create value for customers while at the same time generating
revenues sufficient to cover costs and realize a profit
The two crucial elements of a company's business model are - Correct Answer ✔✔ its
customer value propoition (which lays out the company's approach to satisfying buyer
needs and requirements at a price they will consider a good value) and its profit
proposition or "profit formula" (its business approach to generating sufficiently large
revenues and controlling the costs of its customer value propoition, such that the
company will be able to simultaneously deliver the intended value to customers and
delvier appealing profits to shareholders)
, How well a company performs and the degree of market success it achieves are directly
attributable to - Correct Answer ✔✔ the caliber of its strategy and the proficiency with
which the strategy is executed
What makes a competitive advantage sustainable or durable as opposed to temporary
is - Correct Answer ✔✔ actions or elements in the strategy that cause an attractive
number of buyers to have lasting reasons to purchase a company's products or
services, despite competitors' best efforts to nullify or overcome those reasons
The competitive moves and business apporaches a company's management is using to
attract and please customers, compete successfully, grow the business, respond to
changing market conditions, conduct oeprations, and achieve the targeted financial and
market performance is what defines a company's - Correct Answer ✔✔ strategy
A company's strategy is a "work in progress" and evolves over time because of -
Correct Answer ✔✔ the need to react and respond to changing market and competitive
conditions and ongoing management efforts to improve this or that piece of the strategy
Which of the following statements about a company's strategy is false? - Correct
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
A company's strategy can be considered "ethical" - Correct Answer ✔✔ if it does not
entail actions or behaviors that cross the moral line from "can do" to "should not do"
According to Figure 1.1, which of the following is NOT something to look for in
identifying a company's strategy - Correct Answer ✔✔ Actions to strengthen the
company's competitive position by laying off a portion of its work force or paying down
its long-term debt
A creative, distinctive strategy that sets a company apart from rivals and delivers
superior value to customers - Correct Answer ✔✔ is a company's most reliable ticket for
winning a competitive advantage over rivals
Chapter 2 - Correct Answer ✔✔ Chapter 2
A set of "stretch" financial and strategic objectives - Correct Answer ✔✔ helps a
company avoid ho-hum results
Which of the following is the best example of a well-stated strategic objective? - Correct
Answer ✔✔ Within 2 years, achieve costs per unit sold that are 10% below the current
industry average of $4.75 per unit
A company's strategic plan - Correct Answer ✔✔ lays out its future direction, business
purpose, performance targets, and strategy--in other words, a strategic vision + mission
+ a set of objectives + a strategy = a strategic plan
QUESTIONS & ANSWERS PASSED
100% ALREADY GRADED A+
The difference between a company's strategy and a company's business model is that -
Correct Answer ✔✔ its strategy is defined by the specific market positioning,
competitive moves, and business approaches management employes to try to produce
good business results while its business model relates to management's blueprint for
delivering a valuable product or service to customers in a manner that will generate
revenues sufficient to cover costs and yield an attractive profit
Which of the following is NOT something a company's strategy is concerned with -
Correct Answer ✔✔ Management's choice of which of several alternative business
models to employ in delivering value to customers and to shareholders
A portion of a company's strategy is always developed on the fly because - Correct
Answer ✔✔ managers must always be willing to supplement or modify various proactive
strategy elements with as-needed reactions to unanticipated happenings in the
surrounding environment
Which of the following questions can be used to distinguish a winning strategy from a
mediocre or losing strategy? - Correct Answer ✔✔ How well does the strategy fit the
company's situation?
The reputational and financial damage that unethical strategies and behavior can do to
a company - Correct Answer ✔✔ is substantial; consequently, there are good business
reasons for a company and its personnel to avoid unethical strategic actions and
behaviors
A company's business model - Correct Answer ✔✔ sets forth how its strategy and
operating approaches will create value for customers while at the same time generating
revenues sufficient to cover costs and realize a profit
The two crucial elements of a company's business model are - Correct Answer ✔✔ its
customer value propoition (which lays out the company's approach to satisfying buyer
needs and requirements at a price they will consider a good value) and its profit
proposition or "profit formula" (its business approach to generating sufficiently large
revenues and controlling the costs of its customer value propoition, such that the
company will be able to simultaneously deliver the intended value to customers and
delvier appealing profits to shareholders)
, How well a company performs and the degree of market success it achieves are directly
attributable to - Correct Answer ✔✔ the caliber of its strategy and the proficiency with
which the strategy is executed
What makes a competitive advantage sustainable or durable as opposed to temporary
is - Correct Answer ✔✔ actions or elements in the strategy that cause an attractive
number of buyers to have lasting reasons to purchase a company's products or
services, despite competitors' best efforts to nullify or overcome those reasons
The competitive moves and business apporaches a company's management is using to
attract and please customers, compete successfully, grow the business, respond to
changing market conditions, conduct oeprations, and achieve the targeted financial and
market performance is what defines a company's - Correct Answer ✔✔ strategy
A company's strategy is a "work in progress" and evolves over time because of -
Correct Answer ✔✔ the need to react and respond to changing market and competitive
conditions and ongoing management efforts to improve this or that piece of the strategy
Which of the following statements about a company's strategy is false? - Correct
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
A company's strategy can be considered "ethical" - Correct Answer ✔✔ if it does not
entail actions or behaviors that cross the moral line from "can do" to "should not do"
According to Figure 1.1, which of the following is NOT something to look for in
identifying a company's strategy - Correct Answer ✔✔ Actions to strengthen the
company's competitive position by laying off a portion of its work force or paying down
its long-term debt
A creative, distinctive strategy that sets a company apart from rivals and delivers
superior value to customers - Correct Answer ✔✔ is a company's most reliable ticket for
winning a competitive advantage over rivals
Chapter 2 - Correct Answer ✔✔ Chapter 2
A set of "stretch" financial and strategic objectives - Correct Answer ✔✔ helps a
company avoid ho-hum results
Which of the following is the best example of a well-stated strategic objective? - Correct
Answer ✔✔ Within 2 years, achieve costs per unit sold that are 10% below the current
industry average of $4.75 per unit
A company's strategic plan - Correct Answer ✔✔ lays out its future direction, business
purpose, performance targets, and strategy--in other words, a strategic vision + mission
+ a set of objectives + a strategy = a strategic plan
