Test Bank for Strategic Management Concepts and Cases, 14th Edition by Michael A. Hitt.pdf

TestmBank mformStrategic mManagementmConceptsmand mCasesmCompetitiveness mand mGlobalization m14emMichae
lmHitt,mDuane mIreland,mRobertmHoskisson,mJeffrey mHarrisonm(AllmChaptersm100%mOriginalmVerified,mA+mGrad
e)
Chapterm01 m-mStrategic mManagementmand mStrategic mCompetitiveness
Truem/mFalse

1. Themdifference mbetween maverage mand mabove-
average mreturnsmismthatmaveragemreturnsmaremreturnsmthatmanminvestormexpectsmto mearnmfrommanminvestmentmasmcompared mtom
otherminvestmentsmwith msimilarmstock mprices,mwhilemabove-
average mreturnsmaremin mexcessmof mexpectationsmformsimilarly mpriced mstocks.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-1 mAn mOverviewmof mStrategy mand mStrategicmCompetitiveness
QUESTIONmTYPE: Truem/mFalse
HAS mVARIABLES: False
LEARNINGmOBJECTIVES:m SM.HITT.24.01.01 m-
mDefine mstrategic mcompetitiveness, mstrategy, mcompetitive madvantage, mabove-

average mreturns,mand mthemstrategicmmanagementmprocess.
NATIONALmSTANDARDS:m United mStatesm-mBUSPROG:mAnalyticm|mTechnology m-mBUSPROG:mAnalytic
KEYWORDS: Bloom's:mAnalyze
DATEmCREATED: 4/19/2023 m5:02 mPM
DATEmMODIFIED: 4/19/2023 m5:02 mPM

2. Particularly mwhenmassessingminvestmentsminmnewmventuremfirms,mthemmostmeffective,mandmoften mthemonly,mwaymto mmeas
uremthemperformancemofmthemfirmsmand mdeterminemtheirmviabilitymasman minvestmentmoptionmismtomexaminemfinancialmmetric
smsuch masmreturnsmon massets,mand msales.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-1 mAn mOverviewmof mStrategy mand mStrategicmCompetitiveness
QUESTIONmTYPE: Truem/mFalse
HAS mVARIABLES: False
LEARNINGmOBJECTIVES:m SM.HITT.24.01.01 m-
mDefine mstrategic mcompetitiveness, mstrategy, mcompetitive madvantage, mabove-

average mreturns,mand mthemstrategicmmanagementmprocess.
NATIONALmSTANDARDS:m United mStatesm-mBUSPROG:mAnalyticm|mTechnology m-mBUSPROG:mAnalytic
KEYWORDS: Bloom's:mAnalyze
DATEmCREATED: 4/19/2023 m5:02 mPM
DATEmMODIFIED: 4/19/2023 m5:02 mPM

3. Examplesmof mincrementalminnovationsminclude miPads,mWi-Fi,mand mthemweb mbrowser.
a. True
b. False
ANSWER: False
CopyrightmCengagemLearning.mPoweredmby mCogne Pagem1
ro.

,POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-2 mThemCompetitive mLandscape




CopyrightmCengagemLearning.mPoweredmby mCogne Pagem2
ro.

,QUESTIONmTYPE: Truem/mFalse
HAS mVARIABLES: False
LEARNINGmOBJECTIVES:m SM.HITT.24.01.02 m-
mDescribe mthe mcompetitivemlandscape, mandmexplainmhowmglobalization, mtechnologicalmchanges

,mand mexpectationsmof msocially mresponsible mbehaviormshapemit.
NATIONALmSTANDARDS:m United mStatesm-mBUSPROG:mAnalyticm|mTechnology m-mBUSPROG:mAnalytic
KEYWORDS: Bloom's:mApply
DATEmCREATED: 4/19/2023 m5:02 mPM
DATEmMODIFIED: 4/19/2023 m5:02 mPM

4. ThemI/Omand mresource-
based mmodelsmcontain mmany mof mthemsamemsteps.mOnemclearmdifference mbetween mthemtwo mmodelsmismthemresource-
based mmodelmstartsmby mlookingmatmtheminternalmstrengthsmandmweaknessesmofmamfirm,mwhilemthemI/Ommodelmbeginsmwith man m
examination mof mthemexternalmenvironment. mAnothermkey mdifference mismthemresource-
based mmodelmidentifiesman mattractivemindustry mmuch mearliermin mthemprocessmthan mdoesmthemI/Ommodel.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-4 mThemResource-Based mModelmof mAbove-Average mReturns
QUESTIONmTYPE: Truem/mFalse
HAS mVARIABLES: False
LEARNINGmOBJECTIVES:m SM.HITT.24.01.04 m-mUsemthemresource-basedmmodelmtomexplain mhowmfirmsmcanmearn mabove-
maverage mreturns.


NATIONALmSTANDARDS:m United mStatesm-mBUSPROG:mAnalyticm|mTechnology m-mBUSPROG:mAnalytic
KEYWORDS: Bloom's:mAnalyze
DATEmCREATED: 4/19/2023 m5:02 mPM
DATEmMODIFIED: 4/19/2023 m5:02 mPM

MultiplemChoice

5. Whatmhasmamfirmmachieved mwhen mitmsuccessfully mformulatesmand mimplementsmamvalue-creatingmstrategy?
a. Strategicmcompetitiveness
b. Ampermanently msustainable mcompetitive madvantage
c. Substantialmreturns
d. Legalmand methicalmcoremvalues
ANSWER: a
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-1 mAn mOverviewmof mStrategy mand mStrategicmCompetitiveness
QUESTIONmTYPE: MultiplemChoice
HAS mVARIABLES: False
LEARNINGmOBJECTIVES:m SM.HITT.24.01.01 m-
mDefine mstrategic mcompetitiveness, mstrategy, mcompetitive madvantage, mabove-

average mreturns,mand mthemstrategicmmanagementmprocess.
NATIONALmSTANDARDS:m United mStatesm-mBUSPROG:mAnalyticm|mTechnology m-mBUSPROG:mAnalytic
CopyrightmCengagemLearning.mPoweredmby mCogne Pagem3
ro.

, KEYWORDS: Bloom's:mUnderstand
DATEmCREATED: 4/19/2023 m5:02 mPM
DATEmMODIFIED: 5/17/2023 m4:21 mPM




CopyrightmCengagemLearning.mPoweredmby mCogne Pagem4
ro.