BSG Final Exam Review
A company's strategy - ✔✔ correct answer 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 - ✔✔ correct answer 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 - ✔✔ correct answer 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 - ✔✔ 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
It is normal for a company's strategy to end up being - ✔✔ correct answer 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 - ✔✔ correct answer 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? - ✔✔ correct answer 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" - ✔✔ correct answer 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? - ✔✔ correct
answer 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 - ✔✔ correct
answer Strategy relates broadly to a company's competitive moves and business approaches (which
, BSG Final Exam Review
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 - ✔✔ correct answer 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? - ✔✔ correct answer 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 - ✔✔ correct
answer 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 - ✔✔ correct answer 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 - ✔✔ correct answer 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 - ✔✔ correct answer 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? - ✔✔
correct answer 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? - ✔✔ correct answer
Within 2 years, achieve costs per unit sold that are 10% below the current industry average of $4.25
per unit
A company's strategy - ✔✔ correct answer 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 - ✔✔ correct answer 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 - ✔✔ correct answer 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 - ✔✔ 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
It is normal for a company's strategy to end up being - ✔✔ correct answer 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 - ✔✔ correct answer 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? - ✔✔ correct answer 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" - ✔✔ correct answer 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? - ✔✔ correct
answer 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 - ✔✔ correct
answer Strategy relates broadly to a company's competitive moves and business approaches (which
, BSG Final Exam Review
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 - ✔✔ correct answer 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? - ✔✔ correct answer 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 - ✔✔ correct
answer 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 - ✔✔ correct answer 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 - ✔✔ correct answer 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 - ✔✔ correct answer 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? - ✔✔
correct answer 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? - ✔✔ correct answer
Within 2 years, achieve costs per unit sold that are 10% below the current industry average of $4.25
per unit
