Test Bank For Strategic Management Concepts and Cases 3rd Edition By Jeffrey H. Dyer, Paul Godfrey, Robert Jensen, David Bryce

Test Bank For Strategic Management:
Concepts and Cases 3rd Edition By
Jeffrey H. Dyer, Paul Godfrey, Robert
Jensen, David Bryce

,
, Package Title: Chapter 1, Testbank
Course Title: Dyer, SM 3e
Chapter Number: 1


Question type: Multiple Choice


1) ________ can be best defined as when an organization generates higher profits compared
to its rivals.

a) Client advantage
b) Competitive advantage
c) Employer advantage
d) Unique value

Answer: b

Difficulty: Easy
Section Reference 1: What Is Business Strategy?
Learning Objective 1: Define business strategy, including the importance of competitive
advantage, the four choices that are critical to strategy formulation, and the strategic
management process.
Bloomcode: Knowledge
Standard 1:1: AACSB || Analytic


2) Gems Corp. is a leading jewelry brand that finds it hard to make as much profit as its
competitors. In order to overcome this, the employees of Gems Corp. decide to work harder
to provide unique value to customers and increase the sales of the company. After a year, it is
able to make more profits than its competitors. This scenario best illustrates ________.

a) client advantage
b) internal analysis
c) external analysis
d) competitive advantage

Answer: d

Difficulty: Hard
Section Reference 1: What Is Business Strategy?
Learning Objective 1: Define business strategy, including the importance of competitive
advantage, the four choices that are critical to strategy formulation, and the strategic
management process.
Bloomcode: Application
Standard 1: AACSB || Analytic


3) The industry and geographic area that a company competes in, is referred to as its
________.