Test Bank for Strategic Management Competitiveness and Globalization – Concepts, 9th Edition by Michael A. Hitt, Duane Ireland, and Robert E. Hoskisson

Test3Bank3for3Strategic3Management3Concepts3and3Cases3Competitiveness3and3Globalization314e3Michael
3Hitt,3Duane3Ireland,3Robert3Hoskisson,3Jeffrey3Harrison3(All3Chapters3100%3Original3Verified,3A+3Grade

)
Chapter3013-3Strategic3Management3and3Strategic3Competitiveness
True3/3False

1. The3difference3between3average3and3above-
average3returns3is3that3average3returns3are3returns3that3an3investor3expects3to3earn3from3an3investment3as3compared3to3o
ther3investments3with3similar3stock3prices,3while3above-
average3returns3are3in3excess3of3expectations3for3similarly3priced3stocks.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-13An3Overview3of3Strategy3and3Strategic3Competitiveness
QUESTION3TYPE: True3/3False
HAS3VARIABLES: False
LEARNING3OBJECTIVES:3 SM.HITT.24.01.013-
3Define3strategic3competitiveness,3strategy,3competitive3advantage,3above-
average3returns,3and3the3strategic3management3process.
NATIONAL3STANDARDS:3 United3States3-3BUSPROG:3Analytic3|3Technology3-3BUSPROG:3Analytic
KEYWORDS: Bloom's:3Analyze
DATE3CREATED: 4/19/202335:023PM
DATE3MODIFIED: 4/19/202335:023PM

2. Particularly3when3assessing3investments3in3new3venture3firms,3the3most3effective,3and3often3the3only,3way3to3measu
re3the3performance3of3the3firms3and3determine3their3viability3as3an3investment3option3is3to3examine3financial3metrics3s
uch3as3returns3on3assets,3and3sales.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-13An3Overview3of3Strategy3and3Strategic3Competitiveness
QUESTION3TYPE: True3/3False
HAS3VARIABLES: False
LEARNING3OBJECTIVES:3 SM.HITT.24.01.013-
3Define3strategic3competitiveness,3strategy,3competitive3advantage,3above-
average3returns,3and3the3strategic3management3process.
NATIONAL3STANDARDS:3 United3States3-3BUSPROG:3Analytic3|3Technology3-3BUSPROG:3Analytic
KEYWORDS: Bloom's:3Analyze
DATE3CREATED: 4/19/202335:023PM
DATE3MODIFIED: 4/19/202335:023PM

3. Examples3of3incremental3innovations3include3iPads,3Wi-Fi,3and3the3web3browser.
a. True
b. False
ANSWER: False
Copyright3Cengage3Learning.3Powered3by3Cogner Page31
o.

,POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-23The3Competitive3Landscape




Copyright3Cengage3Learning.3Powered3by3Cogner Page32
o.

,QUESTION3TYPE: True3/3False
HAS3VARIABLES: False
LEARNING3OBJECTIVES:3 SM.HITT.24.01.023-
3Describe3the3competitive3landscape,3and3explain3how3globalization,3technological3changes,
3and3expectations3of3socially3responsible3behavior3shape3it.

NATIONAL3STANDARDS:3 United3States3-3BUSPROG:3Analytic3|3Technology3-3BUSPROG:3Analytic
KEYWORDS: Bloom's:3Apply
DATE3CREATED: 4/19/202335:023PM
DATE3MODIFIED: 4/19/202335:023PM

4. The3I/O3and3resource-
based3models3contain3many3of3the3same3steps.3One3clear3difference3between3the3two3models3is3the3resource-
based3model3starts3by3looking3at3the3internal3strengths3and3weaknesses3of3a3firm,3while3the3I/O3model3begins3with3an3ex
amination3of3the3external3environment.3Another3key3difference3is3the3resource-
based3model3identifies3an3attractive3industry3much3earlier3in3the3process3than3does3the3I/O3model.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-43The3Resource-Based3Model3of3Above-Average3Returns
QUESTION3TYPE: True3/3False
HAS3VARIABLES: False
LEARNING3OBJECTIVES:3 SM.HITT.24.01.043-3Use3the3resource-based3model3to3explain3how3firms3can3earn3above-
3average3returns.

NATIONAL3STANDARDS:3 United3States3-3BUSPROG:3Analytic3|3Technology3-3BUSPROG:3Analytic
KEYWORDS: Bloom's:3Analyze
DATE3CREATED: 4/19/202335:023PM
DATE3MODIFIED: 4/19/202335:023PM

Multiple3Choice

5. What3has3a3firm3achieved3when3it3successfully3formulates3and3implements3a3value-creating3strategy?
a. Strategic3competitiveness
b. A3permanently3sustainable3competitive3advantage
c. Substantial3returns
d. Legal3and3ethical3core3values
ANSWER: a
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-13An3Overview3of3Strategy3and3Strategic3Competitiveness
QUESTION3TYPE: Multiple3Choice
HAS3VARIABLES: False
LEARNING3OBJECTIVES:3 SM.HITT.24.01.013-
3Define3strategic3competitiveness,3strategy,3competitive3advantage,3above-
average3returns,3and3the3strategic3management3process.
NATIONAL3STANDARDS:3 United3States3-3BUSPROG:3Analytic3|3Technology3-3BUSPROG:3Analytic
Copyright3Cengage3Learning.3Powered3by3Cogner Page33
o.

, KEYWORDS: Bloom's:3Understand
DATE3CREATED: 4/19/202335:023PM
DATE3MODIFIED: 5/17/202334:213PM




Copyright3Cengage3Learning.3Powered3by3Cogner Page34
o.