WPC 470 – Exam Questions with Latest
Update
A diagnosis of the competitive challenge, an element of a good strategy, is primarily
accomplished through strategy - Answer-analysis (strategy analysis)
Which of the following does a firm possess when it can outperform other firms in the
same industry or the industry average over a prolonged period of time? - Answer-
sustainable competitive advantage
Revved Rider Inc., a motorcycle company, is the market leader due to its superior
engine technology and service orientation. These unique qualities have helped the
company generate revenues that are consistently higher than other firms in the same
industry. Which of the following can be concluded about Revved Rider Inc. from this
scenario? - Answer-it has competitive advantage over the other firms
What is NOT true about competitive advantage? - Answer-a firm's competitive
advantage is always absolute, not relative
A firm is likely to have a competitive advantage when it - Answer-provide services that
consumers will value more than those of its rivals
The greater difference between value creation and cost, the - Answer-greater a firm's
economic contribution and the more likely it will gain competitive advantage
When a firm integrates the competitive strategies of cost-leadership and differentiation,
it will most likely result in - Answer-trade-offs that work against each other
how has Walmart staked out a unique strategy position? - Answer-by cutting costs to
offer lower prices than competitors
What has contributed to Tesla's competitive advantage in terms of stock appreciation? -
Answer-reinvesting profits to continually design and produce better electric vehicles
Quick Eats is a fast-food restaurant that has recently entered the hospitality industry.
Since most of its competitors are pursuing a low-cost position and doing well, Quick
Eats also wants to adopt the same strategy. Which of the following will be a likely
implication of this decision? - Answer-Quick Eats will face low profit potential
What is true of strategy? - Answer-actions that allow a firm to address a competitive
challenge are strategy
A company's vision primarily states - Answer-what the company wants to ultimately
accomplish
Update
A diagnosis of the competitive challenge, an element of a good strategy, is primarily
accomplished through strategy - Answer-analysis (strategy analysis)
Which of the following does a firm possess when it can outperform other firms in the
same industry or the industry average over a prolonged period of time? - Answer-
sustainable competitive advantage
Revved Rider Inc., a motorcycle company, is the market leader due to its superior
engine technology and service orientation. These unique qualities have helped the
company generate revenues that are consistently higher than other firms in the same
industry. Which of the following can be concluded about Revved Rider Inc. from this
scenario? - Answer-it has competitive advantage over the other firms
What is NOT true about competitive advantage? - Answer-a firm's competitive
advantage is always absolute, not relative
A firm is likely to have a competitive advantage when it - Answer-provide services that
consumers will value more than those of its rivals
The greater difference between value creation and cost, the - Answer-greater a firm's
economic contribution and the more likely it will gain competitive advantage
When a firm integrates the competitive strategies of cost-leadership and differentiation,
it will most likely result in - Answer-trade-offs that work against each other
how has Walmart staked out a unique strategy position? - Answer-by cutting costs to
offer lower prices than competitors
What has contributed to Tesla's competitive advantage in terms of stock appreciation? -
Answer-reinvesting profits to continually design and produce better electric vehicles
Quick Eats is a fast-food restaurant that has recently entered the hospitality industry.
Since most of its competitors are pursuing a low-cost position and doing well, Quick
Eats also wants to adopt the same strategy. Which of the following will be a likely
implication of this decision? - Answer-Quick Eats will face low profit potential
What is true of strategy? - Answer-actions that allow a firm to address a competitive
challenge are strategy
A company's vision primarily states - Answer-what the company wants to ultimately
accomplish
