STRATEGIC MANAGEMENT
EXAM 1 2025 -2026 WITH
CORRECT ANSWERS
QUESTIONA _________ strategy is considered to be a hybrid
strategy. - answer-best-cost
QUESTIONIt is clear from the chapter discussion that Starbucks
is using a __________ strategy to gain a sustainable competitive
advantage in the coffee market. - answer-broad differentiation
QUESTIONThe three questions used to test for a winning
strategy focus on fit, sustainability, and _______________. -
answer-performance
QUESTIONThe most attractive customer value proposition is
attained by: - answer-increasing value provided and lowering the
price
____________ tends to be a combination of planned elements
and unplanned elements of a company's strategy. - answer-
realized strategy
QUESTIONTwo elements of a company's business model are
profit formula and __________. - answer-customer value
proposition
QUESTIONA company's _________ defines its approach to
creating superior value for customers and how capabilities and
, resources will be employed to deliver the desired value to
customers. - answer-strategy
QUESTIONA company's ___________ basically defines how a
company intends to make money. - answer-business model
QUESTIONThe plan that comes out of a formal strategic
managements process would best be called a ____________. -
answer-deliberate strategy
QUESTIONA __________ allows a company to attract sufficiently
large numbers of buyers who have a lasting preference for its
products or services over those offered by rivals, despite the
efforts of the competitors to offset that appeal and overcome the
company's advantage. - answer-sustainable competitive
advantage
QUESTIONMicrosoft's recent decision to enter the telephone
hardware business by acquiring Nokia's phone division opens a
new and significant revenue stream for a company that was
primarily software driven. As such, this move represents a change
in Microsoft's _________. - answer-business model
QUESTIONHaving a competitive advantage does not always
guarantee competitive success. - answer-true
QUESTIONAccording to Henry Mintzberg, the strategy that will
ultimately determine an organization's success or failure is its: -
answer-realized strategy
QUESTIONAvon was originally founded as a vehicle for selling as
asporii - answer-realized, emergent
EXAM 1 2025 -2026 WITH
CORRECT ANSWERS
QUESTIONA _________ strategy is considered to be a hybrid
strategy. - answer-best-cost
QUESTIONIt is clear from the chapter discussion that Starbucks
is using a __________ strategy to gain a sustainable competitive
advantage in the coffee market. - answer-broad differentiation
QUESTIONThe three questions used to test for a winning
strategy focus on fit, sustainability, and _______________. -
answer-performance
QUESTIONThe most attractive customer value proposition is
attained by: - answer-increasing value provided and lowering the
price
____________ tends to be a combination of planned elements
and unplanned elements of a company's strategy. - answer-
realized strategy
QUESTIONTwo elements of a company's business model are
profit formula and __________. - answer-customer value
proposition
QUESTIONA company's _________ defines its approach to
creating superior value for customers and how capabilities and
, resources will be employed to deliver the desired value to
customers. - answer-strategy
QUESTIONA company's ___________ basically defines how a
company intends to make money. - answer-business model
QUESTIONThe plan that comes out of a formal strategic
managements process would best be called a ____________. -
answer-deliberate strategy
QUESTIONA __________ allows a company to attract sufficiently
large numbers of buyers who have a lasting preference for its
products or services over those offered by rivals, despite the
efforts of the competitors to offset that appeal and overcome the
company's advantage. - answer-sustainable competitive
advantage
QUESTIONMicrosoft's recent decision to enter the telephone
hardware business by acquiring Nokia's phone division opens a
new and significant revenue stream for a company that was
primarily software driven. As such, this move represents a change
in Microsoft's _________. - answer-business model
QUESTIONHaving a competitive advantage does not always
guarantee competitive success. - answer-true
QUESTIONAccording to Henry Mintzberg, the strategy that will
ultimately determine an organization's success or failure is its: -
answer-realized strategy
QUESTIONAvon was originally founded as a vehicle for selling as
asporii - answer-realized, emergent
