BSG Midterm Exam (Chapters 1 – 7)
QUESTIONS AND COMPLETE
VERIFIED SOLUTIONS
A |company's |strategy
represents |managerial |commitment |to |undertake |one |set |of |actions |rather |than |another |in |an |effort |to
| compete |successfully |and |achieve |good |performance |outcomes.
There |are |many |routes |to |competitive |advantage, |but |they |all |involve
providing |buyers |with |what |they |perceive |as |superior |value |compared |to |the |offerings |of |rival |sellers.
Which |one |of |the |following |statements |about |whether |a |company's |strategy |can |be |considered
| ethical |is |true?
just |keeping |a |company's |strategic |actions |within |the |bounds |of |what |is |legal |does |not |mean |the |strategy
| is |ethical.
Among |all |the |things |managers |do, |nothing |affects |a |company's |ultimate |success |or |failure |more
| fundamentally |than
how |well |its |management |team |charts |the |company's |direction, |develops |competitively |effective |strategic
| moves |and |business |approaches, |and |pursues |what |needs |to |be |done |internally |to |produce |good |day-
in/day-out |strategy |execution |and |operating |excellence.
The |difference |between |a |company's |strategy |and |a |company's |business |model |is |that
its |strategy |is |defined |by |the |specific |market |positioning, |competitive |moves, |and |business |approaches
| management |employs |to |try |to |produce |good |business |results |while |its |business |model |relates |to
, | management's |blueprint |for |delivering |a |valuable |product |or |service |to |customers |in |a |manner |that |will
| generate |revenue |sufficient |to |cover |costs |and |yield |an |attractive |profit.
Which |of |the |following |is |NOT |one |of |the |reasons |that |a |company's |strategy |evolves |over |time?
the |need |on |the |part |of |company |managers |to |make |regular |strategy |adjustments |so |as |to |keep |rivals |off
| balance |and |always |guessing |about |what |moves |it |will |make |next.
A |company |achieves |competitive |advantage |when
it |has |some |type |of |edge |over |rivals |in |attracting |buyers |and |coping |with |competitive |forces.
Which |one |of |the |following |does |NOT |account |for |why |a |company's |strategy |evolves |over |time, |as
| shown |in |Figure |1.2 |and |explained |in |the |accompanying |text |discussion?
managerial |preferences |for |keeping |the |life-cycle |of |any |given |strategy |short.
In |choosing |among |strategy |alternatives, |company |managers
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 |is |in |compliance |with |prevailing |government |regulations.
A |company's |strategy |evolves |from |one |version |to |the |next
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.
According |to |Figure |1.1, |which |of |the |following |is |NOT |something |to |look |for |in |identifying |a
| company's |strategy?
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.
The |two |crucial |elements |of |a |company's |business |model |are
its |profit |proposition |or |"profit |formula" |and |its |customer |value |proposition.
Which |one |of |the |following |questions |can |be |used |to |distinguish |a |winning |strategy |from |a
| mediocre |or |losing |strategy?
how |well |does |the |strategy |fit |the |company's |situation?
A |company's |business |model
QUESTIONS AND COMPLETE
VERIFIED SOLUTIONS
A |company's |strategy
represents |managerial |commitment |to |undertake |one |set |of |actions |rather |than |another |in |an |effort |to
| compete |successfully |and |achieve |good |performance |outcomes.
There |are |many |routes |to |competitive |advantage, |but |they |all |involve
providing |buyers |with |what |they |perceive |as |superior |value |compared |to |the |offerings |of |rival |sellers.
Which |one |of |the |following |statements |about |whether |a |company's |strategy |can |be |considered
| ethical |is |true?
just |keeping |a |company's |strategic |actions |within |the |bounds |of |what |is |legal |does |not |mean |the |strategy
| is |ethical.
Among |all |the |things |managers |do, |nothing |affects |a |company's |ultimate |success |or |failure |more
| fundamentally |than
how |well |its |management |team |charts |the |company's |direction, |develops |competitively |effective |strategic
| moves |and |business |approaches, |and |pursues |what |needs |to |be |done |internally |to |produce |good |day-
in/day-out |strategy |execution |and |operating |excellence.
The |difference |between |a |company's |strategy |and |a |company's |business |model |is |that
its |strategy |is |defined |by |the |specific |market |positioning, |competitive |moves, |and |business |approaches
| management |employs |to |try |to |produce |good |business |results |while |its |business |model |relates |to
, | management's |blueprint |for |delivering |a |valuable |product |or |service |to |customers |in |a |manner |that |will
| generate |revenue |sufficient |to |cover |costs |and |yield |an |attractive |profit.
Which |of |the |following |is |NOT |one |of |the |reasons |that |a |company's |strategy |evolves |over |time?
the |need |on |the |part |of |company |managers |to |make |regular |strategy |adjustments |so |as |to |keep |rivals |off
| balance |and |always |guessing |about |what |moves |it |will |make |next.
A |company |achieves |competitive |advantage |when
it |has |some |type |of |edge |over |rivals |in |attracting |buyers |and |coping |with |competitive |forces.
Which |one |of |the |following |does |NOT |account |for |why |a |company's |strategy |evolves |over |time, |as
| shown |in |Figure |1.2 |and |explained |in |the |accompanying |text |discussion?
managerial |preferences |for |keeping |the |life-cycle |of |any |given |strategy |short.
In |choosing |among |strategy |alternatives, |company |managers
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 |is |in |compliance |with |prevailing |government |regulations.
A |company's |strategy |evolves |from |one |version |to |the |next
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.
According |to |Figure |1.1, |which |of |the |following |is |NOT |something |to |look |for |in |identifying |a
| company's |strategy?
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.
The |two |crucial |elements |of |a |company's |business |model |are
its |profit |proposition |or |"profit |formula" |and |its |customer |value |proposition.
Which |one |of |the |following |questions |can |be |used |to |distinguish |a |winning |strategy |from |a
| mediocre |or |losing |strategy?
how |well |does |the |strategy |fit |the |company's |situation?
A |company's |business |model
