WPC 480 Exam Questions And Answers 100% Solved 2024/2025

WPC 480 Exam Questions And Answers 100% Solved 2024/2025 A diagnosis of the competitive challenge, an element of a good strategy, is primarily accomplished through strategy - answeranalysis. Which of the following does a firm possess when it can outperform other firms in the same industry or the industry average over a prolonged period of time? - answersustainable competitive advantage Revved Rider Inc., a motorcycle company, is the market leader due to its superior engine technology and service orientation. These unique qualities have helped the company generate revenues that are consistently higher than other firms in the same industry. Which of the following can be concluded about Revved Rider Inc. from this scenario? - answerIt has a competitive advantage over the other firms. Which of the following statements about competitive advantage is not true? - answerA firm's competitive advantage is always absolute, not relative. A firm is likely to have a competitive advantage when it - answerprovides services that consumers will value more than those of its rivals. The greater the difference between value creation and cost, the - answergreater a firm's economic contribution. When a firm integrates the competitive strategies of cost-leadership and differentiation, it will most likely result in - answertrade-offs that work against each other. How has Threadless staked out a unique strategic position? - answerby providing customers a voice in product design Which of the following has contributed to Twitter's loss of a competitive advantage? - answerTwitter does not allow advertisers to target their online ads precisely enough. Quick Eats is a fast-food restaurant that has recently entered the hospitality industry. Since most of its competitors are pursuing a low-cost position and doing well, Quick Eats also wants to adopt the same strategy. Which of the following will be a likely implication of this decision? - answerQuick Eats will face low profit potential. Which of the following statements is true of strategy? - answerActions that allow a firm to address a competitive challenge are strategy. Which of the following statements with regard to determining firm performance is true? - answerExternal analysis will help understand the industry effects that determine a firm's performance. Which of the following forces are most closely related to firm effects within a pharmaceutical industry? - answerthe strategic actions taken by managers of a firm in the industry The metaphor of a black swan best applies to - answerevents that are considered highly unexpected and highly impactful when they do occur. The black swan events in the past have demonstrated that - answerstakeholders can affect or be affected by a firm's actions. Widgets Inc. is a vendor who supplies machine parts to an appliance manufacturing company. In return, Widgets Inc. relies on the company for its revenue and is affected by any decisions taken by the company. In this scenario, Widgets Inc. is a(n) _____ for the appliance manufacturing company. - answerexternal stakeholder Which of the following groups is most likely to be considered a firm's internal stakeholder? - answerboard members Which of the following groups will not be considered a company's internal stakeholder? - answersuppliers Which of the following statements related to a firm's stakeholders is not true? - answerWhile external stakeholders are those who make contributions toward the firm, internal stakeholders are those who reap all the benefits. Which of the following is a stakeholder attribute that managers should consider at every step in a stakeholder impact analysis? - answerlegitimacy The annual net profit after taxes for RSL Corp., a multinational conglomerate, is $5.5 billion. As legal owners, which of the following stakeholder groups has the most legitimate claim on this profit? - answerShareholders Why are black swan events often bad for business? - answerThey erode the implicit trust between the corporate world and society. Which of the following is a philanthropic responsibility of a firm? - answercorporate citizenship Which of the following would be most likely to directly put an organization like BP at a major competitive disadvantage - answerthe Environmental Protection Agency (EPA) banning BP from any new contracts with the U.S. government Which of the following statements will effectively guide a strategist? - answerThe principles of strategic management can be applied universally to all organizations. As the chief executive officer (CEO) of Yahoo, Marissa Mayer declared Yahoo's vision to be "to make the world's daily habits more inspiring and entertaining." She wants to inspire Yahoo's employees and get its customers excited again. Which of the following approaches to the development of strategy does Yahoo best illustrate? - answertop-down strategic planning A company's vision primarily states - answerwhat the company wants to accomplish ultimately. An organization's ____________ describes what the organization actually does—the products and services it plans to provide, and the markets in which it will compete. - answermission Which of the following statements accurately brings out the difference between an organization's vision and mission? - answerVision defines what the organization wants to accomplish ultimately, whereas the mission defines the means by which vision is accomplished. Product-oriented vision statements provide managers with - answerservice goals. Which of the following actions of an automobile firm will be considered as a strategic commitment? - answerthe firm investing eight years and $4 billion to develop a range of hybrid cars with which it will compete in the future Which of the following statements is true of customer-oriented visions? - answerThey define a business in terms of providing solutions to people's needs. If a company chooses to keep its vision customer-oriented rather than product-oriented, what will be its implication? - answerThe company will tend to be more flexible when adapting to changing environments. Which of the following questions does the values espoused by a company primarily answer? - answerHow do we accomplish our goals? is best described as the behaviors and styles of executives that influence others to achieve an organization's vision and mission. - answerStrategic leadership According to the upper-echelons theory, - answerorganizational outcomes reflect the values of the top management team. Which of the following statements does the upper-echelons theory support? - answerExecutives interpret situations through the lens of their unique perspectives, shaped by personal circumstances, values, and experiences. According to the Level-5 leadership pyramid, the Level 2 manager is a(n) - answercontributing team member. Which of the following statements is true of the Level-5 leadership pyramid? - answerEach level of leadership builds upon the previous one in the pyramid.