WPC 480 Questions With Complete Solutions
Which of the following statements about competitive advantage is not true? A firm's
competitive advantage is always absolute, not relative.
A firm is likely to have a competitive advantage when it provides services that consumers
will value more than those of its rivals.
The greater the difference between value creation and cost, the greater a firm's economic
contribution.
When a firm integrates the competitive strategies of cost-leadership and differentiation, it will
most likely result in trade-offs that work against each other.
How has Threadless staked out a unique strategic position? by providing customers a
voice in product design
Which of the following has contributed to Twitter's loss of a competitive advantage?
Twitter does not allow advertisers to target their online ads precisely enough.
,WPC 480 Questions With Complete Solutions
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?
Quick Eats will face low profit potential.
Which of the following statements is true of strategy? Actions that allow a firm to address
a competitive challenge are strategy.
Which of the following statements with regard to determining firm performance is true?
External analysis will help understand the industry effects that determine a firm's
performance.
Which of the following forces are most closely related to firm effects within a pharmaceutical
industry? the strategic actions taken by managers of a firm in the industry
The metaphor of a black swan best applies to events that are considered highly
unexpected and highly impactful when they do occur.
The black swan events in the past have demonstrated that stakeholders can affect or be
affected by a firm's actions.
, WPC 480 Questions With Complete Solutions
Widgets Inc. is a vendor who supplies machine parts to an appliance manufacturing company. In
return, Widgets Inc. relies on the company for its revenue and is affected by any decisions taken
by the company. In this scenario, Widgets Inc. is a(n) _____ for the appliance manufacturing
company. external stakeholder
Which of the following groups is most likely to be considered a firm's internal stakeholder?
board members
Which of the following groups will not be considered a company's internal stakeholder?
suppliers
Which of the following statements related to a firm's stakeholders is not true? While
external stakeholders are those who make contributions toward the firm, internal stakeholders are
those who reap all the benefits.
Which of the following is a stakeholder attribute that managers should consider at every step in a
stakeholder impact analysis? legitimacy
Which of the following statements about competitive advantage is not true? A firm's
competitive advantage is always absolute, not relative.
A firm is likely to have a competitive advantage when it provides services that consumers
will value more than those of its rivals.
The greater the difference between value creation and cost, the greater a firm's economic
contribution.
When a firm integrates the competitive strategies of cost-leadership and differentiation, it will
most likely result in trade-offs that work against each other.
How has Threadless staked out a unique strategic position? by providing customers a
voice in product design
Which of the following has contributed to Twitter's loss of a competitive advantage?
Twitter does not allow advertisers to target their online ads precisely enough.
,WPC 480 Questions With Complete Solutions
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?
Quick Eats will face low profit potential.
Which of the following statements is true of strategy? Actions that allow a firm to address
a competitive challenge are strategy.
Which of the following statements with regard to determining firm performance is true?
External analysis will help understand the industry effects that determine a firm's
performance.
Which of the following forces are most closely related to firm effects within a pharmaceutical
industry? the strategic actions taken by managers of a firm in the industry
The metaphor of a black swan best applies to events that are considered highly
unexpected and highly impactful when they do occur.
The black swan events in the past have demonstrated that stakeholders can affect or be
affected by a firm's actions.
, WPC 480 Questions With Complete Solutions
Widgets Inc. is a vendor who supplies machine parts to an appliance manufacturing company. In
return, Widgets Inc. relies on the company for its revenue and is affected by any decisions taken
by the company. In this scenario, Widgets Inc. is a(n) _____ for the appliance manufacturing
company. external stakeholder
Which of the following groups is most likely to be considered a firm's internal stakeholder?
board members
Which of the following groups will not be considered a company's internal stakeholder?
suppliers
Which of the following statements related to a firm's stakeholders is not true? While
external stakeholders are those who make contributions toward the firm, internal stakeholders are
those who reap all the benefits.
Which of the following is a stakeholder attribute that managers should consider at every step in a
stakeholder impact analysis? legitimacy
