Strategy can be best described as the superior performance in the markets in which the firm operates
goal directed actions to gain and
sustain ___?
- high performance in advancing
industry capabilities
- superior performance in the markets
in which the firm operates
- long term financial profits and
economic viability
- operational improvements and
product advancements
- the earth's environment and the well-
being of the communities in which the
firm operates
,According to Michael Porter the choosing what not to do
essence of strategy is ______.
- leveraging operational and marketing
effectiveness to create competitive
advantage
- choosing what not to do
- maximizing ROI while driving cost of
capital down
- copying what works from competitors
and avoiding what doesn't work
- aligning the external market
environment with the firm's business
model
True/False: A criticism of the Traditional True
Top-Down approach to strategic
planning is that management assesses
the external environment in terms of fit
to the firm's current capabilities rather
than thinking more "outside the box"
when formulating future strategies.
,Consider both statements. Only statement 1 is True
- Statement 1: Competitive advantage is
always judged relative to other
competitors in the same industry or
judged relative to industry average.
- Statement 2: Regardless of cost, a
differentiation strategy will always result
in a competitive advantage if the firm
can charge a premium price for its
products.
All of the following below are drivers economies of scale
that can create a differentiation
advantage and a greater willingness to
pay except one. Select the one that
does not belong on the list:
- brand
- existence of complements
- economies of scale
- customer experience
- product features
- product performance
, Which Statement below is true? To obtain a competitive advantage a firm must either create more value fo
customers while keeping its costs comparable to competitors, or it must
- Cost leadership is the most common provide value equivalent to competitors but at a lower cost.
generic strategy for firms focused on
niche markets
- A firm is said to have a sustainable
competitive advantage if it can
consistently earn a profit every kayear
for a prolonged period of time
- To obtain a competitive advantage a
firm must either create more value for
customers while keeping its costs
comparable to competitors, or it must
provide value equivalent to competitors
but at a lower cost.
- A firm that is charging the lowest price
relative to its competitors will always be
pursuing a cost leadership strategy
- Bogus question: All of the above
statements are true statements
goal directed actions to gain and
sustain ___?
- high performance in advancing
industry capabilities
- superior performance in the markets
in which the firm operates
- long term financial profits and
economic viability
- operational improvements and
product advancements
- the earth's environment and the well-
being of the communities in which the
firm operates
,According to Michael Porter the choosing what not to do
essence of strategy is ______.
- leveraging operational and marketing
effectiveness to create competitive
advantage
- choosing what not to do
- maximizing ROI while driving cost of
capital down
- copying what works from competitors
and avoiding what doesn't work
- aligning the external market
environment with the firm's business
model
True/False: A criticism of the Traditional True
Top-Down approach to strategic
planning is that management assesses
the external environment in terms of fit
to the firm's current capabilities rather
than thinking more "outside the box"
when formulating future strategies.
,Consider both statements. Only statement 1 is True
- Statement 1: Competitive advantage is
always judged relative to other
competitors in the same industry or
judged relative to industry average.
- Statement 2: Regardless of cost, a
differentiation strategy will always result
in a competitive advantage if the firm
can charge a premium price for its
products.
All of the following below are drivers economies of scale
that can create a differentiation
advantage and a greater willingness to
pay except one. Select the one that
does not belong on the list:
- brand
- existence of complements
- economies of scale
- customer experience
- product features
- product performance
, Which Statement below is true? To obtain a competitive advantage a firm must either create more value fo
customers while keeping its costs comparable to competitors, or it must
- Cost leadership is the most common provide value equivalent to competitors but at a lower cost.
generic strategy for firms focused on
niche markets
- A firm is said to have a sustainable
competitive advantage if it can
consistently earn a profit every kayear
for a prolonged period of time
- To obtain a competitive advantage a
firm must either create more value for
customers while keeping its costs
comparable to competitors, or it must
provide value equivalent to competitors
but at a lower cost.
- A firm that is charging the lowest price
relative to its competitors will always be
pursuing a cost leadership strategy
- Bogus question: All of the above
statements are true statements
