BSG Final Exam Review Correct
Questions With Complete Answers
A company's strategy Complete Answers Represents managerial commitment to
undertake one set of actions rather than another in an effort to compete successfully
and achieve good performance outcomes
Which of the following questions helps distinguish a winning strategy from a mediocre or
losing strategy Complete Answers Is the strategy helping the company achieve a
sustainable competitive advantage and is it resulting in goo company performance?
In crafting a company's strategy Complete Answers Managers need to come up with
some distinctive "aha" quality that goes beyond merely attracting buyer attention but
that, more importantly, delivers what buyers perceive as superior value and converts
them in to loyal customers
A company's strategy is a "work in progress" and evolves over time because of
Complete Answers 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
It is normal for a company's strategy to end up being Complete Answers A blend of
proactive actions to improve the company's competitiveness and financial performance
and as-needed reactions to unanticipated developments and fresh market conditions
The two crucial elements of a company's business model are Complete Answers It's
profit proposition or "profit formula" and its customer value proposition
Which of the following is not a frequently used strategic approach to setting a company
apart from rivals, delivering superior value, achieving competitive advantage, and
converting buyers into loyal customers? Complete Answers Striving to be more
profitable than rivals and aiming for a competitive edge based on bigger profit margins
A company's strategy can be considered "ethical" Complete Answers If it does not entail
actions or behaviors that cross the moral line from "should or can do" to "should not do"
Which of the following is not something to look for in identifying a company's strategy?
Complete Answers Actions to boost the compay's credit rating and stock price
The difference between a company's strategy and a company's business model is that
Complete Answers Strategy relates broadly to a company's competitive moves and
business approaches (which may or may not lead to profitability) while its business
model relates to whether the company can execute its customer value proposition
profitably
, There are many routes to competitive advantage, but they all involve Complete Answers
Providing buyers with what they perceive as superior value compared to the offerings of
rival sellers
Which of the following statements about a company's strategy is false? Complete
Answers Well-crafted company strategies rarely need to be changed unless one or
more important rival firms launch unexpected strategic initiatives that endanger the
company's strategy long-term profitability
The customer value proposition portion of a company's business model concerns
Complete Answers The company's approach to satisfying buyer needs and
requirements at a price they will consider a good value
How well a company performs and the degree of market success it achieves are directly
attributable to Complete Answers The caliber of its strategy and the proficiency with
which the strategy is executed
In endeavoring to craft a strategy that is ethical, company mangers Complete Answers
Have to consider not only whether all the various strategy elements are within the
bounds of what is legal; and in compliance with prevailing governmental rules and
regulations but also whether all the various elements of the company's strategy can
pass the test of moral scrutiny
Developing a strategic vision for a company entails Complete Answers Prescribing a
strategic direction for the company to pursue in developing and strengthening its
business — a strategic vision lays out the ocmpany's strategic course in preparing for
the future
Which one of the following questions is not something company managers should
consider in thinking strategically about their company's directional path and developing
a strategic vision? Complete Answers What business approaches and operating
practices should we consider in trying to implement and execute our business model?
Which of the following is the best example of a well-stated strategic objective?
Complete Answers Within 2 years, achieve costs per unit sold that are 10% below the
current industry average of $4.25 per unit
Business strategy, as distinct from corporate strategy, concerns Complete Answers The
actions and approaches being employed to produce successful performance in one
specific line of business
Which one of the following statements about the characteristics of well-stated objectives
is false? Complete Answers Well-stated objectives should contain sufficient wiggle room
to allow for the occurrence of unexpected circumstance that block achievement of the
objective
Questions With Complete Answers
A company's strategy Complete Answers Represents managerial commitment to
undertake one set of actions rather than another in an effort to compete successfully
and achieve good performance outcomes
Which of the following questions helps distinguish a winning strategy from a mediocre or
losing strategy Complete Answers Is the strategy helping the company achieve a
sustainable competitive advantage and is it resulting in goo company performance?
In crafting a company's strategy Complete Answers Managers need to come up with
some distinctive "aha" quality that goes beyond merely attracting buyer attention but
that, more importantly, delivers what buyers perceive as superior value and converts
them in to loyal customers
A company's strategy is a "work in progress" and evolves over time because of
Complete Answers 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
It is normal for a company's strategy to end up being Complete Answers A blend of
proactive actions to improve the company's competitiveness and financial performance
and as-needed reactions to unanticipated developments and fresh market conditions
The two crucial elements of a company's business model are Complete Answers It's
profit proposition or "profit formula" and its customer value proposition
Which of the following is not a frequently used strategic approach to setting a company
apart from rivals, delivering superior value, achieving competitive advantage, and
converting buyers into loyal customers? Complete Answers Striving to be more
profitable than rivals and aiming for a competitive edge based on bigger profit margins
A company's strategy can be considered "ethical" Complete Answers If it does not entail
actions or behaviors that cross the moral line from "should or can do" to "should not do"
Which of the following is not something to look for in identifying a company's strategy?
Complete Answers Actions to boost the compay's credit rating and stock price
The difference between a company's strategy and a company's business model is that
Complete Answers Strategy relates broadly to a company's competitive moves and
business approaches (which may or may not lead to profitability) while its business
model relates to whether the company can execute its customer value proposition
profitably
, There are many routes to competitive advantage, but they all involve Complete Answers
Providing buyers with what they perceive as superior value compared to the offerings of
rival sellers
Which of the following statements about a company's strategy is false? Complete
Answers Well-crafted company strategies rarely need to be changed unless one or
more important rival firms launch unexpected strategic initiatives that endanger the
company's strategy long-term profitability
The customer value proposition portion of a company's business model concerns
Complete Answers The company's approach to satisfying buyer needs and
requirements at a price they will consider a good value
How well a company performs and the degree of market success it achieves are directly
attributable to Complete Answers The caliber of its strategy and the proficiency with
which the strategy is executed
In endeavoring to craft a strategy that is ethical, company mangers Complete Answers
Have to consider not only whether all the various strategy elements are within the
bounds of what is legal; and in compliance with prevailing governmental rules and
regulations but also whether all the various elements of the company's strategy can
pass the test of moral scrutiny
Developing a strategic vision for a company entails Complete Answers Prescribing a
strategic direction for the company to pursue in developing and strengthening its
business — a strategic vision lays out the ocmpany's strategic course in preparing for
the future
Which one of the following questions is not something company managers should
consider in thinking strategically about their company's directional path and developing
a strategic vision? Complete Answers What business approaches and operating
practices should we consider in trying to implement and execute our business model?
Which of the following is the best example of a well-stated strategic objective?
Complete Answers Within 2 years, achieve costs per unit sold that are 10% below the
current industry average of $4.25 per unit
Business strategy, as distinct from corporate strategy, concerns Complete Answers The
actions and approaches being employed to produce successful performance in one
specific line of business
Which one of the following statements about the characteristics of well-stated objectives
is false? Complete Answers Well-stated objectives should contain sufficient wiggle room
to allow for the occurrence of unexpected circumstance that block achievement of the
objective
