Business Strategy GLO-Bus Quiz
Questions And Answers Rated A+ New
Update Assured Satisfaction
Chapter 1
A company's business model - CORRECT ANSWER-sets forth how its strategy
and operating approaches will create value for customers while at the same time
generating revenues sufficient to cover costs and realize a profit
The two crucial elements of a company's business model are - CORRECT
ANSWER-its customer value propoition (which lays out the company's approach
to satisfying buyer needs and requirements at a price they will consider a good
value) and its profit proposition or "profit formula" (its business approach to
generating sufficiently large revenues and controlling the costs of its customer
value propoition, such that the company will be able to simultaneously deliver the
intended value to customers and delvier appealing profits to shareholders)
How well a company performs and the degree of market success it achieves are
directly attributable to - CORRECT ANSWER-the caliber of its strategy and the
proficiency with which the strategy is executed
What makes a competitive advantage sustainable or durable as opposed to
temporary is - CORRECT ANSWER-actions or elements in the strategy that cause
an attractive number of buyers to have lasting reasons to purchase a company's
products or services, despite competitors' best efforts to nullify or overcome
those reasons
The competitive moves and business apporaches a company's management is
using to attract and please customers, compete successfully, grow the business,
respond to changing market conditions, conduct oeprations, and achieve the
,targeted financial and market performance is what defines a company's -
CORRECT ANSWER-strategy
A company's strategy is a "work in progress" and evolves over time because of -
CORRECT ANSWER-the need to react and respond to changing market and
competitive conditions and ongoing management efforts to improve this or that
piece of the strategy
The difference between a company's strategy and a company's business model is
that - CORRECT ANSWER-its strategy is defined by the specific market
positioning, competitive moves, and business approaches management
employes to try to produce good business results while its business model
relates to management's blueprint for delivering a valuable product or service to
customers in a manner that will generate revenues sufficient to cover costs and
yield an attractive profit
Which of the following is NOT something a company's strategy is concerned with
- CORRECT ANSWER-Management's choice of which of several alternative
business models to employ in delivering value to customers and to shareholders
A portion of a company's strategy is always developed on the fly because -
CORRECT ANSWER-managers must always be willing to supplement or modify
various proactive strategy elements with as-needed reactions to unanticipated
happenings in the surrounding environment
Which of the following questions can be used to distinguish a winning strategy
from a mediocre or losing strategy? - CORRECT ANSWER-How well does the
strategy fit the company's situation?
The reputational and financial damage that unethical strategies and behavior can
do to a company - CORRECT ANSWER-is substantial; consequently, there are
good business reasons for a company and its personnel to avoid unethical
strategic actions and behaviors
Which of the following statements about a company's strategy is false? -
CORRECT ANSWER-A company's strategy is deliberately kept under wraps by
top-level managers so as to catch rival companies by surprise and keep them off-
balance
A company's strategy can be considered "ethical" - CORRECT ANSWER-if it does
not entail actions or behaviors that cross the moral line from "can do" to "should
not do"
, According to Figure 1.1, which of the following is NOT something to look for in
identifying a company's strategy - CORRECT ANSWER-Actions to strengthen the
company's competitive position by laying off a portion of its work force or paying
down its long-term debt
A creative, distinctive strategy that sets a company apart from rivals and delivers
superior value to customers - CORRECT ANSWER-is a company's most reliable
ticket for winning a competitive advantage over rivals
Chapter 2
A set of "stretch" financial and strategic objectives - CORRECT ANSWER-helps a
company avoid ho-hum results
Which of the following is the best example of a well-stated strategic objective? -
CORRECT ANSWER-Within 2 years, achieve costs per unit sold that are 10%
below the current industry average of $4.75 per unit
A company's strategy-making hierarchy - CORRECT ANSWER-typically involves
three organizational levels in single-business companies and four organizational
levels in multi-buisness or diversified companies (as shown in Figure 2.2)
A company's values, or core values, concern - CORRECT ANSWER-the beliefs,
traits, and behavioral norms that company personnel are expected to display in
conducting the company's business and pursuing its strategic vision and
mission
Which of the following are characteristics of an effectively-worded strategic
vision statement? - CORRECT ANSWER-Feasible, memorable, makes good
business sense, and has some wiggle room
A company with strategic intent is one that - CORRECT ANSWER-concentrates
the full force of its resources and competitive actions on achieving an ambitious
strategic outcome
The difference between a company's mission statement and the concept of a
strategic vision is that - CORRECT ANSWER-the strategic vision portrays a
company's future direction ("where are we going") whereas a company's mission
typically describes its present business and purpose ("who we are, what we do,
and why we are here")
Effectively communicating the strategic vision to lower-level managers and
employees is a valuable tool for - CORRECT ANSWER-enlisting the commitment
Questions And Answers Rated A+ New
Update Assured Satisfaction
Chapter 1
A company's business model - CORRECT ANSWER-sets forth how its strategy
and operating approaches will create value for customers while at the same time
generating revenues sufficient to cover costs and realize a profit
The two crucial elements of a company's business model are - CORRECT
ANSWER-its customer value propoition (which lays out the company's approach
to satisfying buyer needs and requirements at a price they will consider a good
value) and its profit proposition or "profit formula" (its business approach to
generating sufficiently large revenues and controlling the costs of its customer
value propoition, such that the company will be able to simultaneously deliver the
intended value to customers and delvier appealing profits to shareholders)
How well a company performs and the degree of market success it achieves are
directly attributable to - CORRECT ANSWER-the caliber of its strategy and the
proficiency with which the strategy is executed
What makes a competitive advantage sustainable or durable as opposed to
temporary is - CORRECT ANSWER-actions or elements in the strategy that cause
an attractive number of buyers to have lasting reasons to purchase a company's
products or services, despite competitors' best efforts to nullify or overcome
those reasons
The competitive moves and business apporaches a company's management is
using to attract and please customers, compete successfully, grow the business,
respond to changing market conditions, conduct oeprations, and achieve the
,targeted financial and market performance is what defines a company's -
CORRECT ANSWER-strategy
A company's strategy is a "work in progress" and evolves over time because of -
CORRECT ANSWER-the need to react and respond to changing market and
competitive conditions and ongoing management efforts to improve this or that
piece of the strategy
The difference between a company's strategy and a company's business model is
that - CORRECT ANSWER-its strategy is defined by the specific market
positioning, competitive moves, and business approaches management
employes to try to produce good business results while its business model
relates to management's blueprint for delivering a valuable product or service to
customers in a manner that will generate revenues sufficient to cover costs and
yield an attractive profit
Which of the following is NOT something a company's strategy is concerned with
- CORRECT ANSWER-Management's choice of which of several alternative
business models to employ in delivering value to customers and to shareholders
A portion of a company's strategy is always developed on the fly because -
CORRECT ANSWER-managers must always be willing to supplement or modify
various proactive strategy elements with as-needed reactions to unanticipated
happenings in the surrounding environment
Which of the following questions can be used to distinguish a winning strategy
from a mediocre or losing strategy? - CORRECT ANSWER-How well does the
strategy fit the company's situation?
The reputational and financial damage that unethical strategies and behavior can
do to a company - CORRECT ANSWER-is substantial; consequently, there are
good business reasons for a company and its personnel to avoid unethical
strategic actions and behaviors
Which of the following statements about a company's strategy is false? -
CORRECT ANSWER-A company's strategy is deliberately kept under wraps by
top-level managers so as to catch rival companies by surprise and keep them off-
balance
A company's strategy can be considered "ethical" - CORRECT ANSWER-if it does
not entail actions or behaviors that cross the moral line from "can do" to "should
not do"
, According to Figure 1.1, which of the following is NOT something to look for in
identifying a company's strategy - CORRECT ANSWER-Actions to strengthen the
company's competitive position by laying off a portion of its work force or paying
down its long-term debt
A creative, distinctive strategy that sets a company apart from rivals and delivers
superior value to customers - CORRECT ANSWER-is a company's most reliable
ticket for winning a competitive advantage over rivals
Chapter 2
A set of "stretch" financial and strategic objectives - CORRECT ANSWER-helps a
company avoid ho-hum results
Which of the following is the best example of a well-stated strategic objective? -
CORRECT ANSWER-Within 2 years, achieve costs per unit sold that are 10%
below the current industry average of $4.75 per unit
A company's strategy-making hierarchy - CORRECT ANSWER-typically involves
three organizational levels in single-business companies and four organizational
levels in multi-buisness or diversified companies (as shown in Figure 2.2)
A company's values, or core values, concern - CORRECT ANSWER-the beliefs,
traits, and behavioral norms that company personnel are expected to display in
conducting the company's business and pursuing its strategic vision and
mission
Which of the following are characteristics of an effectively-worded strategic
vision statement? - CORRECT ANSWER-Feasible, memorable, makes good
business sense, and has some wiggle room
A company with strategic intent is one that - CORRECT ANSWER-concentrates
the full force of its resources and competitive actions on achieving an ambitious
strategic outcome
The difference between a company's mission statement and the concept of a
strategic vision is that - CORRECT ANSWER-the strategic vision portrays a
company's future direction ("where are we going") whereas a company's mission
typically describes its present business and purpose ("who we are, what we do,
and why we are here")
Effectively communicating the strategic vision to lower-level managers and
employees is a valuable tool for - CORRECT ANSWER-enlisting the commitment
