MNGT 475 Exam 1 Questions Correctly
Solved.
A company can translate its performance of value chain activities into competitive advantage by doing a
first-rate job of - CORRECT ANSWER either beating rivals in performing differentiation-enhancing value
chain activities more proficiently (thus gaining a differentiation-based competitive advantage) or beating
rivals in performing value chain activities more cheaply (thus gaining a cost-based competitive
advantage)
A company racing to stake out a strong position in an industry of the future often utilizes strategic
alliances and collaborative partnerships in order to - CORRECT ANSWER master new technologies and
build new expertise and competencies faster than would be possible through internal efforts alone
an/or open up broader opportunities in the target industry by melding the firm's own capabilities with
the expertise and resources of partners
A company with strategic intent - CORRECT ANSWER has decided to concentrate the full force of its
resources and competitive actions on a long-term campaign to achieve some ambitious strategic
outcome.
A company's business model - CORRECT ANSWER consists of both a customer value proposition and a
profit proposition.
A company's competitive strategy is unlikely to result in good performance or sustainable competitive
advantage unless the company - CORRECT ANSWER has a competitively valuable collection of resource
strengths, competencies, and capabilities that are well matched to executing the type of competitive
strategy it is employing.
A company's strategy can be considered "ethical" - CORRECT ANSWER if each element of its strategy
can pass the moral scrutiny in the sense of not being shady, unconscionable, or injurious to others.
A company's strategy concerns - CORRECT ANSWER the competitive moves and business approaches
that managers employ to attract and please customers, compete successfully, capitalize on
opportunities to grow the business, respond to changing market conditions, conduct operations, and
produce good business results.
, A low-cost provider strategy becomes increasingly appealing and competitively powerful when -
CORRECT ANSWER it is hard to achieve product differentiation in ways that have value to buyers, price
competition among rival sellers is vigorous, buyers incur low costs in switching their purchases from one
seller to another, and industry newcomers use introductory low prices to attract buyers and build a
customer base.
A manufacturer that ships goods made at its Brazilian plants to markets in foreign countries - CORRECT
ANSWER views a weaker Brazilian real (vis-à-vis the currencies of the countries to which it is exporting)
as a favorable exchange rate shift.
A much-used and potent managerial tool for determining whether a company performs particular
functions or activities in a manner that represents "the best practice" when both cost and effectiveness
are taken into account is - CORRECT ANSWER benchmarking
A winning strategy is one that - CORRECT ANSWER fits the enterprise's internal and external situation,
helps build a sustainable competitive advantage, and produces good company performance.
An industry's key success factors - CORRECT ANSWER are those competitive factors that most affect
industry members' ability to prosper in the marketplace-the particular strategy elements, product
attributes, resource strengths, competitive capabilities, and market achievements that spell the
difference between being a strong competitor and a weak competitor
An industry's outlook tends to present a company with good prospects for attractive profitability if -
CORRECT ANSWER the industry's growth potential is attractively high, the expected strength of
competitive forces is not expected to impair the company's prospects for good profitability, and the
company's strategy, product offering, and capabilities are well matched to industry key success factors
Buyers are in position to exert strong bargaining power in dealing with sellers when - CORRECT ANSWER
the number of buyers is small and/or a buyer is particularly important to a seller
Driving forces analysis involves - CORRECT ANSWER identifying what the driving forces are; assessing
whether the drivers of change are, on the whole, acting to make the industry more or less attractive;
and determining what strategy changes are needed to prepare for the impacts of the driving forces
Solved.
A company can translate its performance of value chain activities into competitive advantage by doing a
first-rate job of - CORRECT ANSWER either beating rivals in performing differentiation-enhancing value
chain activities more proficiently (thus gaining a differentiation-based competitive advantage) or beating
rivals in performing value chain activities more cheaply (thus gaining a cost-based competitive
advantage)
A company racing to stake out a strong position in an industry of the future often utilizes strategic
alliances and collaborative partnerships in order to - CORRECT ANSWER master new technologies and
build new expertise and competencies faster than would be possible through internal efforts alone
an/or open up broader opportunities in the target industry by melding the firm's own capabilities with
the expertise and resources of partners
A company with strategic intent - CORRECT ANSWER has decided to concentrate the full force of its
resources and competitive actions on a long-term campaign to achieve some ambitious strategic
outcome.
A company's business model - CORRECT ANSWER consists of both a customer value proposition and a
profit proposition.
A company's competitive strategy is unlikely to result in good performance or sustainable competitive
advantage unless the company - CORRECT ANSWER has a competitively valuable collection of resource
strengths, competencies, and capabilities that are well matched to executing the type of competitive
strategy it is employing.
A company's strategy can be considered "ethical" - CORRECT ANSWER if each element of its strategy
can pass the moral scrutiny in the sense of not being shady, unconscionable, or injurious to others.
A company's strategy concerns - CORRECT ANSWER the competitive moves and business approaches
that managers employ to attract and please customers, compete successfully, capitalize on
opportunities to grow the business, respond to changing market conditions, conduct operations, and
produce good business results.
, A low-cost provider strategy becomes increasingly appealing and competitively powerful when -
CORRECT ANSWER it is hard to achieve product differentiation in ways that have value to buyers, price
competition among rival sellers is vigorous, buyers incur low costs in switching their purchases from one
seller to another, and industry newcomers use introductory low prices to attract buyers and build a
customer base.
A manufacturer that ships goods made at its Brazilian plants to markets in foreign countries - CORRECT
ANSWER views a weaker Brazilian real (vis-à-vis the currencies of the countries to which it is exporting)
as a favorable exchange rate shift.
A much-used and potent managerial tool for determining whether a company performs particular
functions or activities in a manner that represents "the best practice" when both cost and effectiveness
are taken into account is - CORRECT ANSWER benchmarking
A winning strategy is one that - CORRECT ANSWER fits the enterprise's internal and external situation,
helps build a sustainable competitive advantage, and produces good company performance.
An industry's key success factors - CORRECT ANSWER are those competitive factors that most affect
industry members' ability to prosper in the marketplace-the particular strategy elements, product
attributes, resource strengths, competitive capabilities, and market achievements that spell the
difference between being a strong competitor and a weak competitor
An industry's outlook tends to present a company with good prospects for attractive profitability if -
CORRECT ANSWER the industry's growth potential is attractively high, the expected strength of
competitive forces is not expected to impair the company's prospects for good profitability, and the
company's strategy, product offering, and capabilities are well matched to industry key success factors
Buyers are in position to exert strong bargaining power in dealing with sellers when - CORRECT ANSWER
the number of buyers is small and/or a buyer is particularly important to a seller
Driving forces analysis involves - CORRECT ANSWER identifying what the driving forces are; assessing
whether the drivers of change are, on the whole, acting to make the industry more or less attractive;
and determining what strategy changes are needed to prepare for the impacts of the driving forces
