Strategic Management: Concepts and Cases: Competitiveness and Globalization, 15th Edition —by Michael Hitt, R. Duane Ireland | Complete Test Bank (Chapter 1-13)

Test Bank For
Strategic Management:
Concepts and Cases:
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Competitiveness and
Globalization by Michael A.
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Hitt, R. Duane Ireland,
Robert E. Hoskisson
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(All Chapters 1-15, 100%
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Original Verified, A+ Grade)
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, Table of Content
Part I: STRATEGIC MANAGEMENT INPUTS.
1. Strategic Management and Strategic Competitiveness.
2. The External Environment: Opportunities, Threats, Industry
Competition, and Competitor Analysis.

3. The Internal Organization: Resources, Capabilities, Core Competencies,
and Competitive Advantages.
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Part II: STRATEGIC ACTIONS: STRATEGY FORMULATION.
4. Business-Level Strategy.
5. Competitive Rivalry and Competitive Dynamics.
6. Corporate-Level Strategy.
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7. Merger and Acquisition Strategies and Restructuring.
8. International Strategy.
9. Cooperative Strategy.
Part III: STRATEGIC ACTIONS: STRATEGY IMPLEMENTATION.
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10. Corporate Governance.
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11. Organizational Structure and Controls.
12. Strategic Leadership.
13. Strategic Entrepreneurship.
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Part IV: CASE STUDIES.
C1 - Preparing an Effective Case Analysis.
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20 Leading Business Cases.
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,Test Bank for Strategic Management: Concepts and Cases: Competitiveness and Globalization 15th Ed

Chapter 01 - Strategic Management and Strategic Competitiveness
True / False

1. The difference between average and above-average returns is that average returns are returns that an investor expects to
earn from an investment as compared to other investments with similar stock prices, while above-average returns are in
excess of expectations for similarly priced stocks.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
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REFERENCES: 1-1 An Overview of Strategy and Strategic Competitiveness
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: SM.HITT.24.01.01 - Define strategic competitiveness, strategy, competitive advantage,
above-average returns, and the strategic management process.
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
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KEYWORDS: Bloom's: Analyze
DATE CREATED: 4/19/2023 5:02 PM
DATE MODIFIED: 4/19/2023 5:02 PM

2. Particularly when assessing investments in new venture firms, the most effective, and often the only, way to measure
the performance of the firms and determine their viability as an investment option is to examine financial metrics such as
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returns on assets, and sales.
a. True
b. False
ANSWER: False
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POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-1 An Overview of Strategy and Strategic Competitiveness
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QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: SM.HITT.24.01.01 - Define strategic competitiveness, strategy, competitive advantage,
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above-average returns, and the strategic management process.
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
KEYWORDS: Bloom's: Analyze
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DATE CREATED: 4/19/2023 5:02 PM
DATE MODIFIED: 4/19/2023 5:02 PM

3. Examples of incremental innovations include iPads, Wi-Fi, and the web browser.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-2 The Competitive Landscape

, QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization,
technological changes, and expectations of socially responsible behavior shape it.
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
KEYWORDS: Bloom's: Apply
DATE CREATED: 4/19/2023 5:02 PM
DATE MODIFIED: 4/19/2023 5:02 PM

4. The I/O and resource-based models contain many of the same steps. One clear difference between the two models is the
resource-based model starts by looking at the internal strengths and weaknesses of a firm, while the I/O model begins with
an examination of the external environment. Another key difference is the resource-based model identifies an attractive
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industry much earlier in the process than does the I/O model.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
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REFERENCES: 1-4 The Resource-Based Model of Above-Average Returns
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: SM.HITT.24.01.04 - Use the resource-based model to explain how firms can earn above-
average returns.
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
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KEYWORDS: Bloom's: Analyze
DATE CREATED: 4/19/2023 5:02 PM
DATE MODIFIED: 4/19/2023 5:02 PM
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Multiple Choice

5. What has a firm achieved when it successfully formulates and implements a value-creating strategy?
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a. Strategic competitiveness
b. A permanently sustainable competitive advantage
c. Substantial returns
d. Legal and ethical core values
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ANSWER: a
POINTS: 1
DIFFICULTY: Easy
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REFERENCES: 1-1 An Overview of Strategy and Strategic Competitiveness
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: SM.HITT.24.01.01 - Define strategic competitiveness, strategy, competitive advantage,
above-average returns, and the strategic management process.
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
KEYWORDS: Bloom's: Understand
DATE CREATED: 4/19/2023 5:02 PM
DATE MODIFIED: 5/17/2023 4:21 PM