TEST BANK FOR ESSENTIALS OF STRATEGIC MANAGEMENT THE QUEST FOR COMPETITIVE ADVANTAGE BY JOHN E. GAMBLE, MARGARET A. PETERAF, ARTHUR A. THOMPSON

CHAPTER 01 STRATEGY, BUSINESS MODELS, AND COMPETITIVE ADVANTAGE MULTIPLE CHOICE QUESTIONS 1. Managers in all types of businesses must address the central strategic question: A. Where are we now? B. Where do we want to go from here? C. How are we going to get there? D. When will we know we are there? E. All of these 2. A company's strategy consists of A. actions to develop a more appealing business model than rivals. B. plans involving alignment of organizational activities and strategic objectives. C. offensive and defensive moves to generate revenues and increase profit margins. D. competitive moves and approaches that managers have developed to grow the business, attract and please customers, conduct operations, and achieve targeted objectives. E. its strategic vision, its strategic objectives, and its strategic intent.