GLOBUS FINAL EXAM QUESTIONS &
UPDATED CORRECT ANSWERS ALL
PASSED 100%
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 employs 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.
A winning strategy is one that - Correct Answer ✔✔ fits the company's internal and
external situation, improves company performance, and helps achieve sustainable
competitive advantage.
Typically, a company's strategy is - Correct Answer ✔✔ a blend of (1) proactive actions
to improve the company's financial performance and secure a competitive edge and (2)
as-needed reactions to unanticipated developments and fresh market conditions
A company's business model - Correct Answer ✔✔ is managements blueprint for
delivering a valuable product or service to customers in a manner that will generate
revenue sufficient to cover costs and yield an attractive profit
A company achieves sustainable competitive advantage when - Correct Answer ✔✔ an
attractive number of buyers are drawn to purchase its products or services rather than
those of competitors and when the basis for the preference is durable, despite the
efforts of competitors to nullify or overcome the appeal of its product offering.
What makes a competitive advantage sustainable or durable as opposed to temporary -
Correct Answer ✔✔ are actions or elements in a company's strategy that cause an
attractive number of buyers to have lasting reasons to purchase the company's products
or services, despite competitor's best efforts to nullify or overcome those reasons
In choosing among strategy alternatives, company managers - Correct Answer ✔✔ are
well advised to embrace actions strategic actions that can pass the test of moral
scrutiny-- it is not enough to just stay within the boards of what is legal and is in
compliance with prevailing government regulations
Two crucial elements of a company's business model are - Correct Answer ✔✔ its profit
proposition or "profit formula" and its customer value proposition
,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
The reputational and financial damage that unethical strategies and behavior can do to
a company - Correct Answer ✔✔ is substantial; consequently, there are good business
reason for a company and its personnel to avoid unethical strategic actions and
behaviors
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 boost the company's earnings
per share and stock price
Changing circumstances and ongoing managerial efforts to improve the strategy -
Correct Answer ✔✔ account for why a company's strategy evolves over time and why
the task of crafting a company's strategy is a work in progress, not a one-time event.
The competitive moves and business approaches a company's management is using to
attract and please customers, compete successfully, grow the business, respond to
changing market conditions, conduct operations, and achieve the targeted financial and
market performance is what defines a company's - Correct Answer ✔✔ strategy
Crafting and executing strategy are top-priority managerial tasks because - Correct
Answer ✔✔ how well a company performs and the degree of market success it
achieves are directly, attributable to the caliber of its strategy and the proficiency with
which the strategy is executed
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
The task of stitching together a strategy - Correct Answer ✔✔ entails addressing a
series of hows: how to attract and please customers, how to compete against rivals,
how to position the company in the marketplace vis-avis rivals, how best to pursue
attractive opportunities to grow the business, how best to respond to changing
economic and market conditions, how to manage each functional piece of the business,
and how to achieve the company's strategic and financial objectives
The obligations of an investor-owned company's board of directors in the strategy-
making, strategy-executing process include - Correct Answer ✔✔ overseeing the
company's financial accounting and financial reporting practices and instituting a
compensation plan for top executives
A company's values, or core values, concern - Correct Answer ✔✔ the beliefs, traits,
and behavioral norms that company personnel are expected to display in conducting the
company's business and pursuing its strategic vision and mission
, Managerial jobs with strategy-making responsibility - Correct Answer ✔✔ exist at many
levels of the organizational structure of a large corporation when its operations cut
across different products, industries, and geographical areas
Operating strategies concern - Correct Answer ✔✔ the relatively narrow strategic
initiatives and approaches for managing key operating units (plants, distribution centers,
geographic units) and specific operating activities with strategic significance (quality
control, advertising, brand-building efforts, supply chain-related activities, and website
operations)
Which one of the following approaches to objective-setting should definitely be avoided
- Correct Answer ✔✔ Setting targets that carry no adverse consequences for
organizational members if actual performance falls short of targeted performance
Which one of the following questions is not something that the company managers
should consider in charting a company's future direction are shown in Table 2.1? -
Correct Answer ✔✔ Does the company have a better business model than key rivals?
Which of the following are key tasks in the strategy-making, strategy-executing
process? - Correct Answer ✔✔ Developing a strategic vision, mission, and core values;
setting objectives; and crafting a strategy to achieve the objectives and move the
company along the path to accomplishing the mission and vision
In a single-business company, the strategy-making hierarchy (as shown in Figure 2-2)
consists of - Correct Answer ✔✔ Business strategy, functional area strategies, and
operating strategies
Which of the following is the best example of a well-stated strategic objective? - Correct
Answer ✔✔ Reduce production costs per unit by 10% within 12 months
The surest path to boosting company profitability quarter after quarter and year after
year is for company managers to - Correct Answer ✔✔ relentlessly pursue strategic
outcomes that strengthen the company's market position with buyers and, ideally,
produce a growing competitive advantage over rivals
A set of "stretch" financial and strategic objectives - Correct Answer ✔✔ helps a
company avoid ho-hum results
A company's strategic vision concerns - Correct Answer ✔✔ a company's long-term
direction and what product-customer-market-business mix seems optimal for the road
ahead
Corporate strategy for a diversified or multi-business enterprise - Correct Answer ✔✔
concerns strategy initiatives to establish business positions in different industries,
whether to hold or divest existing businesses, strategic actions to boost the combined
UPDATED CORRECT ANSWERS ALL
PASSED 100%
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 employs 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.
A winning strategy is one that - Correct Answer ✔✔ fits the company's internal and
external situation, improves company performance, and helps achieve sustainable
competitive advantage.
Typically, a company's strategy is - Correct Answer ✔✔ a blend of (1) proactive actions
to improve the company's financial performance and secure a competitive edge and (2)
as-needed reactions to unanticipated developments and fresh market conditions
A company's business model - Correct Answer ✔✔ is managements blueprint for
delivering a valuable product or service to customers in a manner that will generate
revenue sufficient to cover costs and yield an attractive profit
A company achieves sustainable competitive advantage when - Correct Answer ✔✔ an
attractive number of buyers are drawn to purchase its products or services rather than
those of competitors and when the basis for the preference is durable, despite the
efforts of competitors to nullify or overcome the appeal of its product offering.
What makes a competitive advantage sustainable or durable as opposed to temporary -
Correct Answer ✔✔ are actions or elements in a company's strategy that cause an
attractive number of buyers to have lasting reasons to purchase the company's products
or services, despite competitor's best efforts to nullify or overcome those reasons
In choosing among strategy alternatives, company managers - Correct Answer ✔✔ are
well advised to embrace actions strategic actions that can pass the test of moral
scrutiny-- it is not enough to just stay within the boards of what is legal and is in
compliance with prevailing government regulations
Two crucial elements of a company's business model are - Correct Answer ✔✔ its profit
proposition or "profit formula" and its customer value proposition
,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
The reputational and financial damage that unethical strategies and behavior can do to
a company - Correct Answer ✔✔ is substantial; consequently, there are good business
reason for a company and its personnel to avoid unethical strategic actions and
behaviors
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 boost the company's earnings
per share and stock price
Changing circumstances and ongoing managerial efforts to improve the strategy -
Correct Answer ✔✔ account for why a company's strategy evolves over time and why
the task of crafting a company's strategy is a work in progress, not a one-time event.
The competitive moves and business approaches a company's management is using to
attract and please customers, compete successfully, grow the business, respond to
changing market conditions, conduct operations, and achieve the targeted financial and
market performance is what defines a company's - Correct Answer ✔✔ strategy
Crafting and executing strategy are top-priority managerial tasks because - Correct
Answer ✔✔ how well a company performs and the degree of market success it
achieves are directly, attributable to the caliber of its strategy and the proficiency with
which the strategy is executed
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
The task of stitching together a strategy - Correct Answer ✔✔ entails addressing a
series of hows: how to attract and please customers, how to compete against rivals,
how to position the company in the marketplace vis-avis rivals, how best to pursue
attractive opportunities to grow the business, how best to respond to changing
economic and market conditions, how to manage each functional piece of the business,
and how to achieve the company's strategic and financial objectives
The obligations of an investor-owned company's board of directors in the strategy-
making, strategy-executing process include - Correct Answer ✔✔ overseeing the
company's financial accounting and financial reporting practices and instituting a
compensation plan for top executives
A company's values, or core values, concern - Correct Answer ✔✔ the beliefs, traits,
and behavioral norms that company personnel are expected to display in conducting the
company's business and pursuing its strategic vision and mission
, Managerial jobs with strategy-making responsibility - Correct Answer ✔✔ exist at many
levels of the organizational structure of a large corporation when its operations cut
across different products, industries, and geographical areas
Operating strategies concern - Correct Answer ✔✔ the relatively narrow strategic
initiatives and approaches for managing key operating units (plants, distribution centers,
geographic units) and specific operating activities with strategic significance (quality
control, advertising, brand-building efforts, supply chain-related activities, and website
operations)
Which one of the following approaches to objective-setting should definitely be avoided
- Correct Answer ✔✔ Setting targets that carry no adverse consequences for
organizational members if actual performance falls short of targeted performance
Which one of the following questions is not something that the company managers
should consider in charting a company's future direction are shown in Table 2.1? -
Correct Answer ✔✔ Does the company have a better business model than key rivals?
Which of the following are key tasks in the strategy-making, strategy-executing
process? - Correct Answer ✔✔ Developing a strategic vision, mission, and core values;
setting objectives; and crafting a strategy to achieve the objectives and move the
company along the path to accomplishing the mission and vision
In a single-business company, the strategy-making hierarchy (as shown in Figure 2-2)
consists of - Correct Answer ✔✔ Business strategy, functional area strategies, and
operating strategies
Which of the following is the best example of a well-stated strategic objective? - Correct
Answer ✔✔ Reduce production costs per unit by 10% within 12 months
The surest path to boosting company profitability quarter after quarter and year after
year is for company managers to - Correct Answer ✔✔ relentlessly pursue strategic
outcomes that strengthen the company's market position with buyers and, ideally,
produce a growing competitive advantage over rivals
A set of "stretch" financial and strategic objectives - Correct Answer ✔✔ helps a
company avoid ho-hum results
A company's strategic vision concerns - Correct Answer ✔✔ a company's long-term
direction and what product-customer-market-business mix seems optimal for the road
ahead
Corporate strategy for a diversified or multi-business enterprise - Correct Answer ✔✔
concerns strategy initiatives to establish business positions in different industries,
whether to hold or divest existing businesses, strategic actions to boost the combined