BUAD 453 Exam 1 with correct answers || || || || || ||
the ability of a firm to outperform its rivals by achieving greater profitability
|| || || || || || || || || || || || ||
and growth than others in the industry is an example of _____________. -
|| || || || || || || || || || || || ||
CORRECT ANSWERS ✔✔competitive advantage || || ||
A tech company determines that it should pay its top-performing employees
|| || || || || || || || || || ||
above-market wages, decreasing shareholder returns in the short-term. But
|| || || || || || || || ||
the employee longevity pays off through sustained R&D and breakthrough
|| || || || || || || || || ||
products that result in sales growth and lower recruitment costs. This is an
|| || || || || || || || || || || || ||
example of: - CORRECT ANSWERS ✔✔maximizing the return to
|| || || || || || || || ||
shareholders is to focus on the customers and employees || || || || || || || ||
a company in the airline industry with an ROIC recorded above 25% in each
|| || || || || || || || || || || || || ||
of the last 5 years is an example of ___________________________. -
|| || || || || || || || || || ||
CORRECT ANSWERS ✔✔sustained competitive advantage
|| || || ||
a nonprofit organization is considering holding a series of sessions to develop
|| || || || || || || || || || || ||
its mission, vision,goals, operation model, and strategic plan. Differentiate
|| || || || || || || || ||
between planning for charities vs for companies. How will the process be
|| || || || || || || || || || || ||
different for the nonprofit? - CORRECT ANSWERS ✔✔The strategic goals of
|| || || || || || || || || || ||
the organization will include a combination of performance goals toward the
|| || || || || || || || || || ||
charity's mission, revenue, and fundraising goals.
|| || || || ||
A business-level manager in a multi-divisional company is: - CORRECT
|| || || || || || || || || ||
ANSWERS ✔✔a strategic manager who is the head of an entire division,
|| || || || || || || || || || || ||
,responsible for translating the corporate strategy into concrete strategies for
|| || || || || || || || || ||
the business unit.
|| ||
Bhascar recently named general manager of a newly created business unit of a
|| || || || || || || || || || || ||
multidivisional company. His first order of business will be to implement the
|| || || || || || || || || || || || ||
new division's strategic plan. Which of these statements about Bhascar's
|| || || || || || || || || ||
responsibilities for the company is true? - CORRECT ANSWERS ✔✔Bhascar || || || || || || || || || ||
works with managers within his business to develop and implement concrete
|| || || || || || || || || || ||
strategies for his division that align with corporate goals.
|| || || || || || || ||
Lisa is the VP of sales and marketing for a software development company.
|| || || || || || || || || || || || ||
She's been working with her sales force in recent months to develop a
|| || || || || || || || || || || || ||
promotion strategy to sell obsolete software quickly at a reduced price rather
|| || || || || || || || || || || ||
than the original suggested price. Which strategic manager role is Lisa
|| || || || || || || || || || ||
fulfilling with this approach? - CORRECT ANSWERS ✔✔functional-level
|| || || || || || || ||
manager
According to Hill and Schilling, which would be considered an important step
|| || || || || || || || || || ||
in a formal strategic management process? - CORRECT ANSWERS
|| || || || || || || || || ||
✔✔defining the company's corporate mission and major corporate goals || || || || || || || ||
a mission statement describes: - CORRECT ANSWERS ✔✔what the company
|| || || || || || || || ||
does in terms of its customers, their needs, and through what core
|| || || || || || || || || || || || ||
competencies.
Nike: "To bring inspiration and innovation to every athlete in the world."
|| || || || || || || || || || ||
, this is an example of a _______________ mission statement - CORRECT
|| || || || || || || || || || ||
ANSWERS ✔✔customer-focused ||
the idea that the strategy-making process is constantly ongoing and adapting
|| || || || || || || || || || ||
over time with the input of additional information is: - CORRECT ANSWERS
|| || || || || || || || || || || ||
✔✔the feedback loop || ||
My company has set a goal of launching five new products each year for the
|| || || || || || || || || || || || || || ||
next five years through at least 10% annual investment in R&D.
|| || || || || || || || || ||
This is characteristic of a: - CORRECT ANSWERS ✔✔well-constructed goal
|| || || || || || || || ||
The primary objective of managers participating in a SWOT analysis is to: -
|| || || || || || || || || || || || ||
CORRECT ANSWERS ✔✔identify strategies that exploit external
|| || || || || || ||
opportunities, counter threats, build on strengths, and eradicate weaknesses.
|| || || || || || || ||
An HVAC contractor is considering expanding into a new business line,
|| || || || || || || || || || ||
offering commercial facility maintenance and service in addition to
|| || || || || || || || ||
construction contracting services. As the contractor considers this potential
|| || || || || || || || ||
strategy, it conducts a strategic planning process for this business unit,
|| || || || || || || || || || ||
analyzing external and internal factors. Which of these can be classified as a
|| || || || || || || || || || || || ||
part of the external operating environment of the company? - CORRECT
|| || || || || || || || || || ||
ANSWERS ✔✔local commercial properties are most often served by one of
|| || || || || || || || || || ||
the three big national HVAC service firms and a handful of local smaller
|| || || || || || || || || || || || ||
firms.
There are four main categories of strategies that managers may define to
|| || || || || || || || || || || ||
create and sustain a competitive advantage. What is an example of a business-
|| || || || || || || || || || || ||
the ability of a firm to outperform its rivals by achieving greater profitability
|| || || || || || || || || || || || ||
and growth than others in the industry is an example of _____________. -
|| || || || || || || || || || || || ||
CORRECT ANSWERS ✔✔competitive advantage || || ||
A tech company determines that it should pay its top-performing employees
|| || || || || || || || || || ||
above-market wages, decreasing shareholder returns in the short-term. But
|| || || || || || || || ||
the employee longevity pays off through sustained R&D and breakthrough
|| || || || || || || || || ||
products that result in sales growth and lower recruitment costs. This is an
|| || || || || || || || || || || || ||
example of: - CORRECT ANSWERS ✔✔maximizing the return to
|| || || || || || || || ||
shareholders is to focus on the customers and employees || || || || || || || ||
a company in the airline industry with an ROIC recorded above 25% in each
|| || || || || || || || || || || || || ||
of the last 5 years is an example of ___________________________. -
|| || || || || || || || || || ||
CORRECT ANSWERS ✔✔sustained competitive advantage
|| || || ||
a nonprofit organization is considering holding a series of sessions to develop
|| || || || || || || || || || || ||
its mission, vision,goals, operation model, and strategic plan. Differentiate
|| || || || || || || || ||
between planning for charities vs for companies. How will the process be
|| || || || || || || || || || || ||
different for the nonprofit? - CORRECT ANSWERS ✔✔The strategic goals of
|| || || || || || || || || || ||
the organization will include a combination of performance goals toward the
|| || || || || || || || || || ||
charity's mission, revenue, and fundraising goals.
|| || || || ||
A business-level manager in a multi-divisional company is: - CORRECT
|| || || || || || || || || ||
ANSWERS ✔✔a strategic manager who is the head of an entire division,
|| || || || || || || || || || || ||
,responsible for translating the corporate strategy into concrete strategies for
|| || || || || || || || || ||
the business unit.
|| ||
Bhascar recently named general manager of a newly created business unit of a
|| || || || || || || || || || || ||
multidivisional company. His first order of business will be to implement the
|| || || || || || || || || || || || ||
new division's strategic plan. Which of these statements about Bhascar's
|| || || || || || || || || ||
responsibilities for the company is true? - CORRECT ANSWERS ✔✔Bhascar || || || || || || || || || ||
works with managers within his business to develop and implement concrete
|| || || || || || || || || || ||
strategies for his division that align with corporate goals.
|| || || || || || || ||
Lisa is the VP of sales and marketing for a software development company.
|| || || || || || || || || || || || ||
She's been working with her sales force in recent months to develop a
|| || || || || || || || || || || || ||
promotion strategy to sell obsolete software quickly at a reduced price rather
|| || || || || || || || || || || ||
than the original suggested price. Which strategic manager role is Lisa
|| || || || || || || || || || ||
fulfilling with this approach? - CORRECT ANSWERS ✔✔functional-level
|| || || || || || || ||
manager
According to Hill and Schilling, which would be considered an important step
|| || || || || || || || || || ||
in a formal strategic management process? - CORRECT ANSWERS
|| || || || || || || || || ||
✔✔defining the company's corporate mission and major corporate goals || || || || || || || ||
a mission statement describes: - CORRECT ANSWERS ✔✔what the company
|| || || || || || || || ||
does in terms of its customers, their needs, and through what core
|| || || || || || || || || || || || ||
competencies.
Nike: "To bring inspiration and innovation to every athlete in the world."
|| || || || || || || || || || ||
, this is an example of a _______________ mission statement - CORRECT
|| || || || || || || || || || ||
ANSWERS ✔✔customer-focused ||
the idea that the strategy-making process is constantly ongoing and adapting
|| || || || || || || || || || ||
over time with the input of additional information is: - CORRECT ANSWERS
|| || || || || || || || || || || ||
✔✔the feedback loop || ||
My company has set a goal of launching five new products each year for the
|| || || || || || || || || || || || || || ||
next five years through at least 10% annual investment in R&D.
|| || || || || || || || || ||
This is characteristic of a: - CORRECT ANSWERS ✔✔well-constructed goal
|| || || || || || || || ||
The primary objective of managers participating in a SWOT analysis is to: -
|| || || || || || || || || || || || ||
CORRECT ANSWERS ✔✔identify strategies that exploit external
|| || || || || || ||
opportunities, counter threats, build on strengths, and eradicate weaknesses.
|| || || || || || || ||
An HVAC contractor is considering expanding into a new business line,
|| || || || || || || || || || ||
offering commercial facility maintenance and service in addition to
|| || || || || || || || ||
construction contracting services. As the contractor considers this potential
|| || || || || || || || ||
strategy, it conducts a strategic planning process for this business unit,
|| || || || || || || || || || ||
analyzing external and internal factors. Which of these can be classified as a
|| || || || || || || || || || || || ||
part of the external operating environment of the company? - CORRECT
|| || || || || || || || || || ||
ANSWERS ✔✔local commercial properties are most often served by one of
|| || || || || || || || || || ||
the three big national HVAC service firms and a handful of local smaller
|| || || || || || || || || || || || ||
firms.
There are four main categories of strategies that managers may define to
|| || || || || || || || || || || ||
create and sustain a competitive advantage. What is an example of a business-
|| || || || || || || || || || || ||
