MGT 4302 Final Exam Question and
answers rated A+
When can a company achieve sustainable competitive advantage?
A.
Whenever it consistently achieves both its strategic and financial objectives,
regardless of whether its current financial situation appears unfavorable at the
moment and its long term strategic prospects seem limited.
B.
Whenever an attractively large number of buyers develop a durable
preference for its products or services over the offerings of competitors,
despite the efforts of competitors to overcome or erode its advantage.
C.
Whenever it emulates the vision, mission, and values of its closest competitor
as closely as possible but then offers its products/services at a lower price or
significantly differentiates its product/service offering from that of its closest
competitor.
D.
Whenever it possesses the most profitable business model in the industry. -
correct answer ✔B.
Whenever an attractively large number of buyers develop a durable
preference for its products or services over the offerings of competitors,
despite the efforts of competitors to overcome or erode its advantage.
A company's business model ___________________________
A.
is management's blueprint for delivering a valuable product or service to
customers in a manner that will generate ample revenues to cover costs and
yield an attractive profit.
B.
,consists of two crucial elements: (1) its customer value proposition and (2) its
profit formula.
C.
Both A and B.
D.
Neither A nor B. - correct answer ✔C.
Both A and B.
Which of the following is not one of the basic reasons that a company's
strategy evolves over time?
A.
An ongoing need to abandon those strategy features that are no longer
working well
B.
The need on the part of company managers to make regular adjustments in
the company's business model
C.
The need to respond to the actions and competitive moves of rival firms
D.
None of these. - correct answer ✔B.
The need on the part of company managers to make regular adjustments in
the company's business model
Which of the following statements does not accurately describe a sustainable
competitive advantage?
A.
Winning a sustainable competitive edge over rivals hinges as much on
building competitively valuable expertise and capabilities that rivals cannot
readily match as it does on having a distinctive product offering.
,B.
If a company once achieved a sustainable competitive advantage due to
experience, know-how, and specialized capabilities, it is nearly impossible for
competitors to imitate and eliminate this advantage.
C.
The bigger and more sustainable the competitive advantage, the better are a
company's prospects for winning in the marketplace and earning superior
long-term profits relative to its rivals.
D.
Without a strategy that leads to competitive advantage, a company risks being
bested by stronger rivals and locked into mediocre financial performance. -
correct answer ✔B.
If a company once achieved a sustainable competitive advantage due to
experience, know-how, and specialized capabilities, it is nearly impossible for
competitors to imitate and eliminate this advantage.
In order to succeed, a company's strategy ____________________
A.
needs to have at least one distinctive, superior, or unique element that attracts
customers and produces a competitive edge over rivals.
B.
has to be created by all employees, as execution depends on every single
employee - from the managers at the top of the corporate hierarchy down to
the frontline employees.
C.
should focus on meeting or beating shareholder expectations by increasing
revenue in the short term while simultaneously making an effort to decrease
costs in the long term.
D.
needs to be similar to the strategies of successful companies in its industry. -
correct answer ✔A.
, needs to have at least one distinctive, superior, or unique element that attracts
customers and produces a competitive edge over rivals.
What is the reason that a company's strategy tends to be a "work in progress"
and evolves over time?
A.
The changing circumstances in the market and the competitive arena.
B.
Changes in a company's vision and values cause it to constantly alter its
strategy to meet the ongoing need to imitate the new strategic moves of
industry leaders.
C.
The changing nature of employee skills and capabilities.
D.
The competitive advantage potential of developing new strategic moves
annually. - correct answer ✔A.
The changing circumstances in the market and the competitive arena.
Competing in the marketplace on the basis of a competitive advantage
_____________
A.
means that a company has to offer the lowest price for differentiated goods
that at least match the feature and performance of higher-priced rival brands.
B.
gives buyers an immediate preference for a company's products or services
over those of competitors.
C.
answers rated A+
When can a company achieve sustainable competitive advantage?
A.
Whenever it consistently achieves both its strategic and financial objectives,
regardless of whether its current financial situation appears unfavorable at the
moment and its long term strategic prospects seem limited.
B.
Whenever an attractively large number of buyers develop a durable
preference for its products or services over the offerings of competitors,
despite the efforts of competitors to overcome or erode its advantage.
C.
Whenever it emulates the vision, mission, and values of its closest competitor
as closely as possible but then offers its products/services at a lower price or
significantly differentiates its product/service offering from that of its closest
competitor.
D.
Whenever it possesses the most profitable business model in the industry. -
correct answer ✔B.
Whenever an attractively large number of buyers develop a durable
preference for its products or services over the offerings of competitors,
despite the efforts of competitors to overcome or erode its advantage.
A company's business model ___________________________
A.
is management's blueprint for delivering a valuable product or service to
customers in a manner that will generate ample revenues to cover costs and
yield an attractive profit.
B.
,consists of two crucial elements: (1) its customer value proposition and (2) its
profit formula.
C.
Both A and B.
D.
Neither A nor B. - correct answer ✔C.
Both A and B.
Which of the following is not one of the basic reasons that a company's
strategy evolves over time?
A.
An ongoing need to abandon those strategy features that are no longer
working well
B.
The need on the part of company managers to make regular adjustments in
the company's business model
C.
The need to respond to the actions and competitive moves of rival firms
D.
None of these. - correct answer ✔B.
The need on the part of company managers to make regular adjustments in
the company's business model
Which of the following statements does not accurately describe a sustainable
competitive advantage?
A.
Winning a sustainable competitive edge over rivals hinges as much on
building competitively valuable expertise and capabilities that rivals cannot
readily match as it does on having a distinctive product offering.
,B.
If a company once achieved a sustainable competitive advantage due to
experience, know-how, and specialized capabilities, it is nearly impossible for
competitors to imitate and eliminate this advantage.
C.
The bigger and more sustainable the competitive advantage, the better are a
company's prospects for winning in the marketplace and earning superior
long-term profits relative to its rivals.
D.
Without a strategy that leads to competitive advantage, a company risks being
bested by stronger rivals and locked into mediocre financial performance. -
correct answer ✔B.
If a company once achieved a sustainable competitive advantage due to
experience, know-how, and specialized capabilities, it is nearly impossible for
competitors to imitate and eliminate this advantage.
In order to succeed, a company's strategy ____________________
A.
needs to have at least one distinctive, superior, or unique element that attracts
customers and produces a competitive edge over rivals.
B.
has to be created by all employees, as execution depends on every single
employee - from the managers at the top of the corporate hierarchy down to
the frontline employees.
C.
should focus on meeting or beating shareholder expectations by increasing
revenue in the short term while simultaneously making an effort to decrease
costs in the long term.
D.
needs to be similar to the strategies of successful companies in its industry. -
correct answer ✔A.
, needs to have at least one distinctive, superior, or unique element that attracts
customers and produces a competitive edge over rivals.
What is the reason that a company's strategy tends to be a "work in progress"
and evolves over time?
A.
The changing circumstances in the market and the competitive arena.
B.
Changes in a company's vision and values cause it to constantly alter its
strategy to meet the ongoing need to imitate the new strategic moves of
industry leaders.
C.
The changing nature of employee skills and capabilities.
D.
The competitive advantage potential of developing new strategic moves
annually. - correct answer ✔A.
The changing circumstances in the market and the competitive arena.
Competing in the marketplace on the basis of a competitive advantage
_____________
A.
means that a company has to offer the lowest price for differentiated goods
that at least match the feature and performance of higher-priced rival brands.
B.
gives buyers an immediate preference for a company's products or services
over those of competitors.
C.
