MGT 4150 Exam Questions With 100%
Correct Answers < A+ Pass
Which of the following is NOT a common shortcoming when wording a company's vision
statement? When the statement is somewhat: - Answers - ✔✔flexible—allowing for
adjustments to reflect changing circumstances.
Which of the following is NOT one of the managerial considerations in determining how
to compete successfully? - Answers - ✔✔How can the company modify its entire
product line to emphasize their internal service attributes?
A company's strategy concerns: - Answers - ✔✔management's action plan for
outperforming competitors and achieving superior profitability.
A company's strategy consists of the action plan management is taking to: - Answers -
✔✔grow the business, stake out a market position, attract and please customers,
compete successfully, conduct operations, and achieve performance objectives.
The competitive moves and business approaches a company's management is using to
grow the business, stake out a market position, attract and please customers, compete
successfully, conduct operations, and achieve organizational objectives is referred to as
its: - Answers - ✔✔strategy
The objectives of a well-crafted strategy require management to strive to: - Answers -
✔✔develop lasting success that can support growth and secure the company's future
over the long term.
To improve performance, there are many different avenues for outcompeting rivals such
as: - Answers - ✔✔confining their operations to local or regional markets or developing
product superiority or even concentrating on a narrow product lineup.
A company's strategy is most accurately defined as: - Answers - ✔✔management's
commitment to provide direction and guidance, in terms of not only what the company
should do but also what it should not do.
Every strategy needs: - Answers - ✔✔a distinctive element that attracts customers and
produces a competitive edge.
Which of the following is NOT something a company's strategy is concerned with? -
Answers - ✔✔Management's choices about how quickly and closely to copy the
strategies being used by successful rival companies.
,Which of the following is NOT a primary focus of a company's strategy? - Answers -
✔✔How to achieve above-average gains in the company's stock price and thereby
meet or beat shareholder expectations.
A company's strategies stand a better chance of succeeding when: - Answers - ✔✔it is
predicated on competitive moves aimed at appealing to buyers in ways that set the
company apart from rivals.
In crafting a company's strategy: - Answers - ✔✔managers need to come up with a
sustainable competitive advantage that draws in customers and produces a competitive
edge over rivals.
The heart and soul of a company's strategy-making effort: - Answers - ✔✔involves
coming up with moves and actions that produce a durable competitive edge over rivals.
The pattern of actions and business approaches that would NOT define a company's
strategy include: - Answers - ✔✔actions to gain sales and market share with lower
prices despite increased costs.
A company's strategy and its quest for competitive advantage are tightly connected
because: - Answers - ✔✔crafting a strategy that yields a competitive advantage over
rivals is a company's most reliable means of achieving above-average profitability and
financial performance.
A company achieves a competitive advantage when: - Answers - ✔✔it provides buyers
with superior value compared to rival sellers or offers the same value at a lower cost.
A creative distinctive strategy that sets a company apart from rivals and that gives it a
sustainable competitive advantage: - Answers - ✔✔is a company's most reliable ticket
to above-average profitability and a competitive advantage, despite the best efforts of
competitors to match or surpass this advantage.
What separates a powerful strategy from a run-of-the-mill or ineffective one is: -
Answers - ✔✔management's ability to forge a series of moves, both in the marketplace
and internally, that sets the company apart from rivals, and produces sustainable
competitive advantage.
Which of the following is a frequently used strategic approach to setting a company
apart from rivals and achieving a sustainable competitive advantage? - Answers -
✔✔Focusing on a narrow market niche and winning a competitive edge by doing a
better job than rivals of serving the special needs and tastes of buyers comprising the
niche.
Which of the following is NOT a frequently used strategic approach to setting a
company apart from rivals and achieving a sustainable competitive advantage? -
, Answers - ✔✔Striving to be more profitable than rivals and aiming for a competitive
edge based on bigger profit margins.
One of the frequently used successful and dependable strategic approaches is: -
Answers - ✔✔to come up with a distinctive element that builds strong customer loyalty
and yields a winning competitive edge.
Winning a sustainable competitive edge over competitors generally hinges on which of
the following?
A. Having a distinctive competitive product offering.
B. Building competitively valuable expertise and capabilities not readily matched, and
offering a distinctive product offering.
C. Building experience, know-how, and specialized capabilities that have been
perfected over a long period of time.
D. Having "hard to beat" capabilities and impressive product innovation.
E. All of these. - Answers - ✔✔All of these
A company's strategy evolves over time as a consequence of:
A. the need to keep strategy in step with changing circumstances, market conditions,
and changing customer needs and expectations.
B. the proactive efforts of company managers to fine-tune and improve one or more
pieces of the strategy.
C. the need to abandon some strategy features that are no longer working well.
D. the need to respond to the newly initiated actions and competitive moves of rival
firms.
E. All of these. - Answers - ✔✔All of the above
Which of the following is NOT one of the basic reasons that a company's strategy
evolves over time? - Answers - ✔✔The need on the part of company managers to
initiate fresh strategic actions that boost employee commitment and create a results-
oriented culture.
Changing circumstances and ongoing managerial efforts to improve the strategy: -
Answers - ✔✔account for why a company's strategy evolves over time
Correct Answers < A+ Pass
Which of the following is NOT a common shortcoming when wording a company's vision
statement? When the statement is somewhat: - Answers - ✔✔flexible—allowing for
adjustments to reflect changing circumstances.
Which of the following is NOT one of the managerial considerations in determining how
to compete successfully? - Answers - ✔✔How can the company modify its entire
product line to emphasize their internal service attributes?
A company's strategy concerns: - Answers - ✔✔management's action plan for
outperforming competitors and achieving superior profitability.
A company's strategy consists of the action plan management is taking to: - Answers -
✔✔grow the business, stake out a market position, attract and please customers,
compete successfully, conduct operations, and achieve performance objectives.
The competitive moves and business approaches a company's management is using to
grow the business, stake out a market position, attract and please customers, compete
successfully, conduct operations, and achieve organizational objectives is referred to as
its: - Answers - ✔✔strategy
The objectives of a well-crafted strategy require management to strive to: - Answers -
✔✔develop lasting success that can support growth and secure the company's future
over the long term.
To improve performance, there are many different avenues for outcompeting rivals such
as: - Answers - ✔✔confining their operations to local or regional markets or developing
product superiority or even concentrating on a narrow product lineup.
A company's strategy is most accurately defined as: - Answers - ✔✔management's
commitment to provide direction and guidance, in terms of not only what the company
should do but also what it should not do.
Every strategy needs: - Answers - ✔✔a distinctive element that attracts customers and
produces a competitive edge.
Which of the following is NOT something a company's strategy is concerned with? -
Answers - ✔✔Management's choices about how quickly and closely to copy the
strategies being used by successful rival companies.
,Which of the following is NOT a primary focus of a company's strategy? - Answers -
✔✔How to achieve above-average gains in the company's stock price and thereby
meet or beat shareholder expectations.
A company's strategies stand a better chance of succeeding when: - Answers - ✔✔it is
predicated on competitive moves aimed at appealing to buyers in ways that set the
company apart from rivals.
In crafting a company's strategy: - Answers - ✔✔managers need to come up with a
sustainable competitive advantage that draws in customers and produces a competitive
edge over rivals.
The heart and soul of a company's strategy-making effort: - Answers - ✔✔involves
coming up with moves and actions that produce a durable competitive edge over rivals.
The pattern of actions and business approaches that would NOT define a company's
strategy include: - Answers - ✔✔actions to gain sales and market share with lower
prices despite increased costs.
A company's strategy and its quest for competitive advantage are tightly connected
because: - Answers - ✔✔crafting a strategy that yields a competitive advantage over
rivals is a company's most reliable means of achieving above-average profitability and
financial performance.
A company achieves a competitive advantage when: - Answers - ✔✔it provides buyers
with superior value compared to rival sellers or offers the same value at a lower cost.
A creative distinctive strategy that sets a company apart from rivals and that gives it a
sustainable competitive advantage: - Answers - ✔✔is a company's most reliable ticket
to above-average profitability and a competitive advantage, despite the best efforts of
competitors to match or surpass this advantage.
What separates a powerful strategy from a run-of-the-mill or ineffective one is: -
Answers - ✔✔management's ability to forge a series of moves, both in the marketplace
and internally, that sets the company apart from rivals, and produces sustainable
competitive advantage.
Which of the following is a frequently used strategic approach to setting a company
apart from rivals and achieving a sustainable competitive advantage? - Answers -
✔✔Focusing on a narrow market niche and winning a competitive edge by doing a
better job than rivals of serving the special needs and tastes of buyers comprising the
niche.
Which of the following is NOT a frequently used strategic approach to setting a
company apart from rivals and achieving a sustainable competitive advantage? -
, Answers - ✔✔Striving to be more profitable than rivals and aiming for a competitive
edge based on bigger profit margins.
One of the frequently used successful and dependable strategic approaches is: -
Answers - ✔✔to come up with a distinctive element that builds strong customer loyalty
and yields a winning competitive edge.
Winning a sustainable competitive edge over competitors generally hinges on which of
the following?
A. Having a distinctive competitive product offering.
B. Building competitively valuable expertise and capabilities not readily matched, and
offering a distinctive product offering.
C. Building experience, know-how, and specialized capabilities that have been
perfected over a long period of time.
D. Having "hard to beat" capabilities and impressive product innovation.
E. All of these. - Answers - ✔✔All of these
A company's strategy evolves over time as a consequence of:
A. the need to keep strategy in step with changing circumstances, market conditions,
and changing customer needs and expectations.
B. the proactive efforts of company managers to fine-tune and improve one or more
pieces of the strategy.
C. the need to abandon some strategy features that are no longer working well.
D. the need to respond to the newly initiated actions and competitive moves of rival
firms.
E. All of these. - Answers - ✔✔All of the above
Which of the following is NOT one of the basic reasons that a company's strategy
evolves over time? - Answers - ✔✔The need on the part of company managers to
initiate fresh strategic actions that boost employee commitment and create a results-
oriented culture.
Changing circumstances and ongoing managerial efforts to improve the strategy: -
Answers - ✔✔account for why a company's strategy evolves over time
