Crafting & Executing Strategy 23rd Edition – Chapter 1 Overview & Practice

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23rd E
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ThompsonCH01
ANSWERSARELOCATED IN THE SECOND PARTOFTHISDOCUMENTl




MULTIPLECHOICE-
Chooselthelonealternativelthatbestcompletesthestatementloranswerslthequestion.
1) Managersofalltypesofbusinessorganizationsmustdevelopaclearanswerforwhichofthef
ollowingquestions?
1)


A) Whatlapproachesldo we needtotakeinlordertolgainlacompetitiveadvantageinthemark
etplace?
B) Whatisthesetlofactionsthat welneed totaketooutperformcompetitorsandlachievelsupe
riorprofitability?
C) Wherearelwenow?
D) Wheredolwe gofromhere?
E) Whenwill we knowthatlwe arethere?



Question Details
Difficulty : 1 Easy
Topic : Strategy and the StrategiclManagement Process
Learning Objectivel: 01-
01 Understand what is meant by acompany’s strategy andlwhy it needs to diffe Bloom'sl:
Remember AACSB : Knowledge Application Acc
essibility:Keyboard Navigation Grada
ble : automatic



2) Sanofi, apharmaceutical companysellinglprescriptiondrugsin Franceforthelpast 10lyears, h
as hadmoderatelsalesinacrowdedmarketwhileitslrivalslmanufactureandmarket drugshavingsimil
ar efficacyandsafetyprecautions, butlwithlsuperiormarketlshare. Thisparticularpharmaceutical co
mpany'slgreatestchallengeisltoincreaseprescriptionsoftheirdrugslby Frenchldoctors. Whatlwouldb
ethe most effectivestrategyfor Sanofitoimprovesaleslperformancelinitslexistingmarket?
2)




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,DOWNLOAD THE Test Bank for Crafting and Executing Strategy Concepts
23rd E
dition Thompson
CraftingandExecuting StrategyConcepts23rdEditionby
l



ThompsonCH01
A) modifyinglmarketingcommunicationtolincreasebrandfamiliaritywithinkey ph
ysiciansegments
B) relocatingalltheexistingdrugmanufacturingfacilitiestodevelopingcountriestolred
uceloperationalcosts
C) employinghiringplansthataim at acquiringldrugdesignersfromrival companies
D) exitingthemarket andenteringanewunexploredgeographicallocation
E) engaginginnewcontracttalkswithsupplierslaboutpricebreaks



Question Details
Topic : Strategy and the StrategiclManagement Process
Learning Objectivel: 01-
01 Understand what is meant by acompany’s strategy andlwhy it needs to diffe Accessibility : Keyboard
Navig ation
Difficulty:3Hard Bloom's
: Apply
AACSB:Analytical Thinking Gradabl
el: automatic



3) Youhavelbeenlhired as aconsultantby SandCloud, alventure-
backedestablishedlcompanyinthebeachwearandtowelingmarkets. SandCloud’sownersareweig
hingladecisiontodonateapartofitslprofitstolachildren'slcharitytoimproveitslmarketimage. Your
adviceto SandCloudregardingstrategyisthatitwillconsist ofthelactionplanmanagementtakesto
3)


A) developamoreappealinglbusinessmodellthanlrivallbeachwearandltoweling co
mpanies.
B) competelagainstlrivalsinthebeachwearandtowelingindustryandestablishatra
nsitorycompetitiveadvantage.
C) concentrateonimprovinglitsexistinglproductofferingirrespectiveofitsdecisiontoldon
atealpercentageofitsprofits tola children’scharity.
D) stakeoutlauniquemarketlpositionlinbeachwearandtowelingmarkets andlachievesup
eriorprofitability.
E) identifyitsstrategic vision, itslstrategiclobjectives, anditslstrategiclintent.




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, DOWNLOAD THE Test Bank for Crafting and Executing Strategy Concepts
23rd E
dition Thompson
CraftingandExecuting StrategyConcepts23rdEditionby
l



ThompsonCH01
Question Details
Topic : Strategy andlthe StrategiclManagement Process
Learning Objective : 01-
01 Understandlwhat is meant by acompany’s strategy andlwhy it needs to diffe AACSB : Knowledge
Applicati on
Accessibility:KeyboardNavigation Bl
oom'sl: Apply
Difficultyl:2MediumlGrad
ablel: automatic



4) Keurig, thecoffeemachinemanufacturer, sellslhigh-
qualityespressomachines atla verylowpriceandalsoprovidesllow-
cost refills ofvarietalcoffeepods at arelativelyhigherpricethanrivals. Theaction
stepsthatlKeurig
’slmanagerstakeltooutperformlthelcompany'scompetitorsandlachievelsuperiorprofitability arekn
ownlas its
4)


A) strategy.
B) missionlstatement.
C) strategiclintent.
D) value-cost-pricelframework.
E) marketvisioning statement.



Question Details
Topic : Strategy andlthe StrategiclManagement Process
Learning Objectivel: 01-
01 Understand what is meant by acompany’s strategy andlwhy it needs to diffe Bloom'sl:
Remember AACSB : Knowledge Application Acc
essibility:Keyboard Navigation Diffic
ulty : 2 Medium
Gradable : automatic



5) Strategy, at its essence, is about
5)




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