Business Strategy Exam 1 questions from Connect With
Complete Solutions
A blueprint that outlines the means for a company to deliver
value to customers in a suitably profitable manner is known as
its Correct Answer business model.
A business strategy becomes unethical when it involves what
elements? Correct Answer - disreputable behavior
- deceitfulness
- unreasonable damage to the environment
A company mission statement should do which of the
following?
Multiple select question.
- Describe where the company expects to head in the future.
- Identify the company's customers or markets.
- Specify what services and products the company offers.
- Establish the company's own identity. Correct Answer -
Identify the company's customers or markets.
- Specify what services and products the company offers.
- Establish the company's own identity.
A company's approach to meeting or exceeding its customers'
needs at a price they consider a good value is called the Correct
Answer customer value proposition.
A company's business model is comprised of which of the
following? Correct Answer 1. the customer value
,2. proposition
the profit formula
A company's competitive assets are made up of which of the
following?
Multiple select question.
- resources
- dividends
- P/E ratios
- capabilities Correct Answer - resources
- capabilities
A company's mission statement describes the organization's
Multiple select question.
- future strategic course.
- aspirations.
- present business.
- present purpose. Correct Answer - present business.
- present purpose.
A company's realized strategy is a combination of Correct
Answer proactive and reactive elements.
A company's sales revenues minus the cost of goods sold
divided by the sales revenues is called the company's ______
margin.
- net profit
- operating profit
- current profit
,- gross profit Correct Answer gross profit
A company's strategy should always be based on
- the current employee makeup.
- the company's internal strengths.
- exploiting competencies that rivals have found successful.
- the company's weak points. Correct Answer the company's
internal strengths.
A company's tangible resources, typically defined as resources
that can be easily quantified, include which of the following?
Multiple select question.
- intellectual resources
- organizational resources
- technological resources
- financial resources Correct Answer - organizational resources
- technological resources
- financial resources
A company's ultimate success or failure is fundamentally tied to
how well its management team does which of the following?
- develops competitively effective strategies
- copies other companies' successful strategies
- charts the company's direction
- facilitates internal operating excellence Correct Answer -
develops competitively effective strategies
, - charts the company's direction
- facilitates internal operating excellence
A competitive asset owned or controlled by a company is
referred to as a(n)
- resource.
- capability.
- innovation.
- strategy. Correct Answer resource.
A competitive strength assessment would most likely use
information obtained through
Multiple select question.
- SWOT analysis.
- benchmarking.
- VRIN testing.
- resource and capability analysis. Correct Answer SWOT
analysis.
benchmarking.
resource and capability analysis.
A manager of a plant owned by a food and beverage company
for producing canned goods develops a strategy for updating its
production lines while maintaining its quality controls. This is
an example of a(n)
- operating strategy.
- corporate strategy.
Complete Solutions
A blueprint that outlines the means for a company to deliver
value to customers in a suitably profitable manner is known as
its Correct Answer business model.
A business strategy becomes unethical when it involves what
elements? Correct Answer - disreputable behavior
- deceitfulness
- unreasonable damage to the environment
A company mission statement should do which of the
following?
Multiple select question.
- Describe where the company expects to head in the future.
- Identify the company's customers or markets.
- Specify what services and products the company offers.
- Establish the company's own identity. Correct Answer -
Identify the company's customers or markets.
- Specify what services and products the company offers.
- Establish the company's own identity.
A company's approach to meeting or exceeding its customers'
needs at a price they consider a good value is called the Correct
Answer customer value proposition.
A company's business model is comprised of which of the
following? Correct Answer 1. the customer value
,2. proposition
the profit formula
A company's competitive assets are made up of which of the
following?
Multiple select question.
- resources
- dividends
- P/E ratios
- capabilities Correct Answer - resources
- capabilities
A company's mission statement describes the organization's
Multiple select question.
- future strategic course.
- aspirations.
- present business.
- present purpose. Correct Answer - present business.
- present purpose.
A company's realized strategy is a combination of Correct
Answer proactive and reactive elements.
A company's sales revenues minus the cost of goods sold
divided by the sales revenues is called the company's ______
margin.
- net profit
- operating profit
- current profit
,- gross profit Correct Answer gross profit
A company's strategy should always be based on
- the current employee makeup.
- the company's internal strengths.
- exploiting competencies that rivals have found successful.
- the company's weak points. Correct Answer the company's
internal strengths.
A company's tangible resources, typically defined as resources
that can be easily quantified, include which of the following?
Multiple select question.
- intellectual resources
- organizational resources
- technological resources
- financial resources Correct Answer - organizational resources
- technological resources
- financial resources
A company's ultimate success or failure is fundamentally tied to
how well its management team does which of the following?
- develops competitively effective strategies
- copies other companies' successful strategies
- charts the company's direction
- facilitates internal operating excellence Correct Answer -
develops competitively effective strategies
, - charts the company's direction
- facilitates internal operating excellence
A competitive asset owned or controlled by a company is
referred to as a(n)
- resource.
- capability.
- innovation.
- strategy. Correct Answer resource.
A competitive strength assessment would most likely use
information obtained through
Multiple select question.
- SWOT analysis.
- benchmarking.
- VRIN testing.
- resource and capability analysis. Correct Answer SWOT
analysis.
benchmarking.
resource and capability analysis.
A manager of a plant owned by a food and beverage company
for producing canned goods develops a strategy for updating its
production lines while maintaining its quality controls. This is
an example of a(n)
- operating strategy.
- corporate strategy.
