MGMT 5560 Study Guide Questions with
100% Correct Answers
The competitive power of a resource or competitive capability hinges on such
considerations as
how hard the resources/capability is for competitors to copy, whether many or most rivals
have a very similar resource or capability, and whether the resource/capability can be
trumped by substitute resources and capabilities of rivals
Which one of the following should NOT be considered as a company resource?
Core competences and distinctive competences and such achievements as low overall costs
relative to competitors, market share leadership, and award-winning product design
Which of the following best describes the market opportunities that tend to be most
relevant to a particular company?
Those market opportunities that can be pursued with the firm's competitively potent resources
and capabilities, offer the best growth and profitability, and present the most potential for
competitive advantage
The difference between a core competence and a distinctive competence is that
a core competence is an activity that a company performs quite well and that is also central to
its strategy and competitiveness whereas a distinctive competence is a competitively
important activity that a company performs better than its rivals
Which one of the following is NOT one of the steps in dining competitive strength
assessment?
Assign equal weights ti each competitive strength measure
,Identifying the strategic issues and problems a company faces and compiling a "worry
list" that merits front-burner management attention is an important component of
assessing a company's resources and ability to compete successfully because
the "worry list" helps identify which rivals companies to attack with new offensive initiatives
and also which specific competitive weaknesses to correct
A company can translate its performance of value chain activities into competitive
advantage by doing a first-rate job of
performing value chain activities in ways that give a company either a lower-cost advantage
or a value-creating differentiation advantage over rivals
The primary roles/obligations of a company's board of directors in the strategy-making,
strategy-executing process include
critically appraising the company's direction, strategy, and business approaches and
evaluating the caliber of senior executives strategy-making and strategy-executing skills
Which of the following statements about the task of crafting a company's strategy is
most accurate?
The more that a company's operations cut across different products, industries, and
geographical areas, the more that headquarters executives have little option but to delegate
considerable strategy making authority to down-the-line managers in charge of particular
subsidiaries divisions, product lines, geographic sales offices, distribution centers and plants.
The distinction between a company mission statement and a strategic vision is that
a mission statement typically describes a company's present business scope and purpose
("who we are, what we do, and why we are here") whereas the principal concern of a strategic
, vision is with a company's future strategic course ("the direction we are headed and what
market position(s) we intend to stake out")
A company's strategic vision
describes the route a company intends to take in developing and strengthening its business; it
lays out the company's strategic course in preparing for the future
A company's core values relate to
certain designated beliefs, traits and ways of doing things that are widely viewed as "good" or
"desirable" or maybe even "noble" and that are intended to guide the actions and behavior of
company personnel in conducting the company's business and pursuing its strategic vision
and mission
the attention, energy, and resources a company devotes to achieving its strategic
objective
are critically important because a stronger market standing with buyers and improved
competitive strength to combat rivals-- especially when these result in a bigger competitive
advantage-is what enables and empowers a company to improve its financial performance in
upcoming periods.
Which one of the following is NOT on of the principal offensive strategy options to
improve a company's market position?
Building the industry's most cost-efficient supply chain and then using this cost advantage to
overwhelm higher-cost rivals with a deeply discounted price
Which one of the following statements about first-mover advantages and first-mover
disadvantages is false?
100% Correct Answers
The competitive power of a resource or competitive capability hinges on such
considerations as
how hard the resources/capability is for competitors to copy, whether many or most rivals
have a very similar resource or capability, and whether the resource/capability can be
trumped by substitute resources and capabilities of rivals
Which one of the following should NOT be considered as a company resource?
Core competences and distinctive competences and such achievements as low overall costs
relative to competitors, market share leadership, and award-winning product design
Which of the following best describes the market opportunities that tend to be most
relevant to a particular company?
Those market opportunities that can be pursued with the firm's competitively potent resources
and capabilities, offer the best growth and profitability, and present the most potential for
competitive advantage
The difference between a core competence and a distinctive competence is that
a core competence is an activity that a company performs quite well and that is also central to
its strategy and competitiveness whereas a distinctive competence is a competitively
important activity that a company performs better than its rivals
Which one of the following is NOT one of the steps in dining competitive strength
assessment?
Assign equal weights ti each competitive strength measure
,Identifying the strategic issues and problems a company faces and compiling a "worry
list" that merits front-burner management attention is an important component of
assessing a company's resources and ability to compete successfully because
the "worry list" helps identify which rivals companies to attack with new offensive initiatives
and also which specific competitive weaknesses to correct
A company can translate its performance of value chain activities into competitive
advantage by doing a first-rate job of
performing value chain activities in ways that give a company either a lower-cost advantage
or a value-creating differentiation advantage over rivals
The primary roles/obligations of a company's board of directors in the strategy-making,
strategy-executing process include
critically appraising the company's direction, strategy, and business approaches and
evaluating the caliber of senior executives strategy-making and strategy-executing skills
Which of the following statements about the task of crafting a company's strategy is
most accurate?
The more that a company's operations cut across different products, industries, and
geographical areas, the more that headquarters executives have little option but to delegate
considerable strategy making authority to down-the-line managers in charge of particular
subsidiaries divisions, product lines, geographic sales offices, distribution centers and plants.
The distinction between a company mission statement and a strategic vision is that
a mission statement typically describes a company's present business scope and purpose
("who we are, what we do, and why we are here") whereas the principal concern of a strategic
, vision is with a company's future strategic course ("the direction we are headed and what
market position(s) we intend to stake out")
A company's strategic vision
describes the route a company intends to take in developing and strengthening its business; it
lays out the company's strategic course in preparing for the future
A company's core values relate to
certain designated beliefs, traits and ways of doing things that are widely viewed as "good" or
"desirable" or maybe even "noble" and that are intended to guide the actions and behavior of
company personnel in conducting the company's business and pursuing its strategic vision
and mission
the attention, energy, and resources a company devotes to achieving its strategic
objective
are critically important because a stronger market standing with buyers and improved
competitive strength to combat rivals-- especially when these result in a bigger competitive
advantage-is what enables and empowers a company to improve its financial performance in
upcoming periods.
Which one of the following is NOT on of the principal offensive strategy options to
improve a company's market position?
Building the industry's most cost-efficient supply chain and then using this cost advantage to
overwhelm higher-cost rivals with a deeply discounted price
Which one of the following statements about first-mover advantages and first-mover
disadvantages is false?
