Strategic Management Test Guide 23/24
McDonald's has been able to a. earn above-average returns. b. achieve strategic competitiveness. c. use the strategic management process. A firm has achieved __________ when it successfully formulates and implements a value-creating strategy. a. strategic competitiveness A competitive advantage c. can be identified only if it has been unsuccessfully challenged by competitors. Above-average returns are d. returns in excess of what an investor expects to earn from other investments with a similar level of risk. The strategic management process is d. the full set of commitments, decisions, and actions required for the firm to achieve above-average returns and strategic competitiveness. The primary drivers of hypercompetition are b. the emergence of a global economy and rapid technological change.
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