BSG MIDTERM || WITH CONFIRMED ANSWERS.
The difference between a company's business model and a company's strategy is that correct
answers its business model relates to management's blueprint for delivering a valuable product or
service to customers in a manner that will generate ample revenues to cover costs and yield an
attractive profit while its strategy relates to the companies competitive moves and business
approaches (which may or may not lead to profitability)
A company's strategy is a "work in progress" and evolves over time because of correct answers
The need to react and respond to changing market and competitive conditions and ongoing
management efforts to improve this or that piece of the strategy
Good strategy and good strategy execution correct answers are the most trustworthy signs of
good management
Based on figure 1.1, which of the following is not something to look for in identifying a
company's strategy? correct answers Actions to rise or lower the company's performance targets
and actions to pay down the company's long-term debt
Which of the following statements about a company's strategy is false? correct answers Well-
crafted company strategies rarely need to be changed unless one or more important rival firms
launch unexpected strategic initiatives that endanger the company's strategy long-term
profitability
A company's business model correct answers sets forth how its strategy and business approaches
will create value for customers while at the same time generating ample revenues to cover costs
and realize a profit
Which of the following is not a frequently used strategic approach to setting a company apart
from rivals, delivering superior value, achieving competitive advantage, and converting buyers
into loyal customers? correct answers striving to be more profitable than rivals and aiming for a
competitive edge based on bigger profit margins
The two crucial elements of a company's business model are correct answers its customers vale
proposition (which lays out the company's approach to satisfying buyer needs and requirements
at a price they will consider a good value) and its "profit formula" (the business approach, means
of generating revenues, principal resources, and operating systems that will be employed to
create and deliver that intended customer value cost-efficiently and at a price that will enable
attractive profits)
A company's strategy and its quest for competitive advantage are tightly connected because
correct answers a company is almost certain to earn significantly higher profits when it enjoys a
competitive advantage as opposed to when it competes with no advantage or is hamstrung by
completive disadvantage
,A company's strategy is defined by correct answers the specific market positioning, competitive
moves, and business approaches that form management's answer to "What's our plan for running
the company and producing good results?"
Which of the following questions helps distinguishing a winning strategy from a mediocre or
losing strategy? correct answers Is the strategy helping the company achieve a sustainable
competitive advantage and is it resulting in good company performance?
A company's strategy evolves from one version to the next correct answers as managers abandon
obsolete or ineffective strategy elements, settle upon a set of proactive strategy elements, and
then- as new circumstances unfold--make adaptive strategic adjustments, which gives rise to
reactive strategy elements
Crafting an ethical strategy requires that managers correct answers carefully and conscientiously
consider whether each proposed strategy element can pass the test of moral scrutiny in the sense
of not being shady, unconscionable, or injurious to others.
Which of the following is not something a company's strategy is concerned with? correct
answers Management's choice of which of several alternative business models to employ in
delivering value to customers and to shareholders
In choosing among strategy alternatives, company managers correct answers are well-advised to
embrace strategic actions that can pass the test of moral scrutiny-- it is not enough to just stay
within the bounds of what is legal and acceptable to regulators
In endeavoring to craft an ethical strategy, company managers correct answers have to go
beyond what strategic actions and behaviors are deemed legal and address whether all the
various elements of the company's strategy can pass the test of moral scrutiny
In crafting a strategy, management is in effect saying correct answers "among all the many
different business approaches and ways of competing we could have chosen, we have decided to
employ this particular combination of competitive and operating approaches in moving the
company in the intended direction, strengthening its market position and competitiveness, and
meeting or beating our performance objectives"
The customer value proposition portion of a company's business model concerns correct answers
the company's approach to satisfying buyer needs and requirements at a price they will consider
a good value
According to Figure 1.1, which of the following is not something to look for in identifying a
company's strategy? correct answers Actions to strengthen the company's competitive position
by hiring one or more new top executives or laying off a portion of its work force or paying
down its long-term debt
, Which one of the following statements about whether a company's strategy can be considered
ethical is true? correct answers Just keeping a company's strategic actions within the bounds of
what is legal and acceptable to regulators does not mean the strategy is ethical
A winning strategy is one that correct answers helps the company achieve a sustainable
competitive advantage, results in better company performance, and fits the company's internal
and external situation
Which of the following is not one of the reasons that a company's strategy evolves over time?
correct answers The need on the part of company managers to make regular strategy adjustments
so as to avoid the risk that rivals might soon find ways to weaken or defeat its present strategy
improvements of their own
Which of the following statements about a company's strategy is true? correct answers A
company's strategy is typically a blend of proactive and reactive strategy elements
Good strategy combined with good strategy execution correct answers are strongly correlated
with how well the company performs both financially and in the marketplace
A company's Stragety correct answers Represents Managerial Commitment to undertake one set
of actions rather than another to compete successfully
There are many routes to competitive advantage but they all involve correct answers providing
buyers with what they perceive as superior value
The difference between a company's business model and a company's strategy is that correct
answers business model - relates to management's blueprint for delivering a valuable product or
service to customers in a manner that will generate ample revenues to cover costs and yield an
attractive profit while
Strategy relates to the company's competitive moves and business approaches
what makes a competitive advantage sustainable or durable as opposed to temporary is correct
answers actions or elements in the strategy that cause an attractive number of buyers to have
lasting efforts to nullify or overcome those reasons
The two crucial elements of a companys business model are correct answers its customer value
proposition and its profit proposition or "profit formula"
A company's strategy evolves from one version to the next correct answers As managers
abandon obsolete or ineffective strategy elements, settle upon a set of proactive strategy
elements, and then - as new circumstances unfold make adaptive strategic adjustments which
gives rise to reactive strategy elements
For a company's strategy to qualify as "ethical," it is important correct answers For the strategy
not to entail actions or behaviors that cross the moral line from "should do" to "should not do"
The difference between a company's business model and a company's strategy is that correct
answers its business model relates to management's blueprint for delivering a valuable product or
service to customers in a manner that will generate ample revenues to cover costs and yield an
attractive profit while its strategy relates to the companies competitive moves and business
approaches (which may or may not lead to profitability)
A company's strategy is a "work in progress" and evolves over time because of correct answers
The need to react and respond to changing market and competitive conditions and ongoing
management efforts to improve this or that piece of the strategy
Good strategy and good strategy execution correct answers are the most trustworthy signs of
good management
Based on figure 1.1, which of the following is not something to look for in identifying a
company's strategy? correct answers Actions to rise or lower the company's performance targets
and actions to pay down the company's long-term debt
Which of the following statements about a company's strategy is false? correct answers Well-
crafted company strategies rarely need to be changed unless one or more important rival firms
launch unexpected strategic initiatives that endanger the company's strategy long-term
profitability
A company's business model correct answers sets forth how its strategy and business approaches
will create value for customers while at the same time generating ample revenues to cover costs
and realize a profit
Which of the following is not a frequently used strategic approach to setting a company apart
from rivals, delivering superior value, achieving competitive advantage, and converting buyers
into loyal customers? correct answers striving to be more profitable than rivals and aiming for a
competitive edge based on bigger profit margins
The two crucial elements of a company's business model are correct answers its customers vale
proposition (which lays out the company's approach to satisfying buyer needs and requirements
at a price they will consider a good value) and its "profit formula" (the business approach, means
of generating revenues, principal resources, and operating systems that will be employed to
create and deliver that intended customer value cost-efficiently and at a price that will enable
attractive profits)
A company's strategy and its quest for competitive advantage are tightly connected because
correct answers a company is almost certain to earn significantly higher profits when it enjoys a
competitive advantage as opposed to when it competes with no advantage or is hamstrung by
completive disadvantage
,A company's strategy is defined by correct answers the specific market positioning, competitive
moves, and business approaches that form management's answer to "What's our plan for running
the company and producing good results?"
Which of the following questions helps distinguishing a winning strategy from a mediocre or
losing strategy? correct answers Is the strategy helping the company achieve a sustainable
competitive advantage and is it resulting in good company performance?
A company's strategy evolves from one version to the next correct answers as managers abandon
obsolete or ineffective strategy elements, settle upon a set of proactive strategy elements, and
then- as new circumstances unfold--make adaptive strategic adjustments, which gives rise to
reactive strategy elements
Crafting an ethical strategy requires that managers correct answers carefully and conscientiously
consider whether each proposed strategy element can pass the test of moral scrutiny in the sense
of not being shady, unconscionable, or injurious to others.
Which of the following is not something a company's strategy is concerned with? correct
answers Management's choice of which of several alternative business models to employ in
delivering value to customers and to shareholders
In choosing among strategy alternatives, company managers correct answers are well-advised to
embrace strategic actions that can pass the test of moral scrutiny-- it is not enough to just stay
within the bounds of what is legal and acceptable to regulators
In endeavoring to craft an ethical strategy, company managers correct answers have to go
beyond what strategic actions and behaviors are deemed legal and address whether all the
various elements of the company's strategy can pass the test of moral scrutiny
In crafting a strategy, management is in effect saying correct answers "among all the many
different business approaches and ways of competing we could have chosen, we have decided to
employ this particular combination of competitive and operating approaches in moving the
company in the intended direction, strengthening its market position and competitiveness, and
meeting or beating our performance objectives"
The customer value proposition portion of a company's business model concerns correct answers
the company's approach to satisfying buyer needs and requirements at a price they will consider
a good value
According to Figure 1.1, which of the following is not something to look for in identifying a
company's strategy? correct answers Actions to strengthen the company's competitive position
by hiring one or more new top executives or laying off a portion of its work force or paying
down its long-term debt
, Which one of the following statements about whether a company's strategy can be considered
ethical is true? correct answers Just keeping a company's strategic actions within the bounds of
what is legal and acceptable to regulators does not mean the strategy is ethical
A winning strategy is one that correct answers helps the company achieve a sustainable
competitive advantage, results in better company performance, and fits the company's internal
and external situation
Which of the following is not one of the reasons that a company's strategy evolves over time?
correct answers The need on the part of company managers to make regular strategy adjustments
so as to avoid the risk that rivals might soon find ways to weaken or defeat its present strategy
improvements of their own
Which of the following statements about a company's strategy is true? correct answers A
company's strategy is typically a blend of proactive and reactive strategy elements
Good strategy combined with good strategy execution correct answers are strongly correlated
with how well the company performs both financially and in the marketplace
A company's Stragety correct answers Represents Managerial Commitment to undertake one set
of actions rather than another to compete successfully
There are many routes to competitive advantage but they all involve correct answers providing
buyers with what they perceive as superior value
The difference between a company's business model and a company's strategy is that correct
answers business model - relates to management's blueprint for delivering a valuable product or
service to customers in a manner that will generate ample revenues to cover costs and yield an
attractive profit while
Strategy relates to the company's competitive moves and business approaches
what makes a competitive advantage sustainable or durable as opposed to temporary is correct
answers actions or elements in the strategy that cause an attractive number of buyers to have
lasting efforts to nullify or overcome those reasons
The two crucial elements of a companys business model are correct answers its customer value
proposition and its profit proposition or "profit formula"
A company's strategy evolves from one version to the next correct answers As managers
abandon obsolete or ineffective strategy elements, settle upon a set of proactive strategy
elements, and then - as new circumstances unfold make adaptive strategic adjustments which
gives rise to reactive strategy elements
For a company's strategy to qualify as "ethical," it is important correct answers For the strategy
not to entail actions or behaviors that cross the moral line from "should do" to "should not do"
