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Test Bank For Strategic Management
5th Edition By Frank Rothaermel ( ) /
9781260261288 / Chapter 1-12 /
Complete Questions and Answers A+
1. Award:
A good strategy is a set of actions that enables a firm to achieve its own internal goals without regard to
the external environment.
True
➜ False
The success of a strategy heavily depends on the external environment. A good strategy is a set of
actions that enables a firm to achieve superior performance relative to its competitors. In this light, a
strategy which produces only a minor loss of revenues while competitors suffer heavy losses can be
seen as successful.
Difficulty: 2 Medium Learning Objective: 01-01 Explain the role
of strategy in a firm's quest for competitive
advantage.
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2. Award:
The following statement by the chief executive of GoFlix movie studio is an effective strategy: “We will
produce the greatest films of the 21st century.”
True
➜ False
Grandiose statements are not strategy. Although GoFlix’s vision of producing the highest-quality films
among all studios may lay the foundation for an effective strategy, it must be backed up by a clear set
of actions that will allow the firm to address the competitive challenge with clear consideration of value
creation and costs.
Difficulty: 2 Medium Learning Objective: 01-02 Define
competitive advantage, sustainable
competitive advantage, competitive
disadvantage, and competitive parity.
3. Award:
The three tasks of the AFI strategy framework are to Assemble a prototype, Find a buyer, and
Incorporate feedback.
True
➜ False
The three tasks of the AFI strategy framework are to Analyze, Formulate, and Implement. This
framework (1) explains and predicts differences in firm performance, and (2) helps managers formulate
and implement a strategy grounded in internal and external analysis that can result in superior
performance.
Difficulty: 2 Medium Learning Objective: 01-05 Explain the
Analysis, Formulation, Implementation (AFI)
Strategy Framework.
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For All Chapters --> www.stuvia.com
Test Bank For Strategic Management
5th Edition By Frank Rothaermel ( ) /
9781260261288 / Chapter 1-12 /
Complete Questions and Answers A+
1. Award:
A good strategy is a set of actions that enables a firm to achieve its own internal goals without regard to
the external environment.
True
➜ False
The success of a strategy heavily depends on the external environment. A good strategy is a set of
actions that enables a firm to achieve superior performance relative to its competitors. In this light, a
strategy which produces only a minor loss of revenues while competitors suffer heavy losses can be
seen as successful.
Difficulty: 2 Medium Learning Objective: 01-01 Explain the role
of strategy in a firm's quest for competitive
advantage.
about:blank 1/176
, For All Chapters --> www.stuvia.com
2. Award:
The following statement by the chief executive of GoFlix movie studio is an effective strategy: “We will
produce the greatest films of the 21st century.”
True
➜ False
Grandiose statements are not strategy. Although GoFlix’s vision of producing the highest-quality films
among all studios may lay the foundation for an effective strategy, it must be backed up by a clear set
of actions that will allow the firm to address the competitive challenge with clear consideration of value
creation and costs.
Difficulty: 2 Medium Learning Objective: 01-02 Define
competitive advantage, sustainable
competitive advantage, competitive
disadvantage, and competitive parity.
3. Award:
The three tasks of the AFI strategy framework are to Assemble a prototype, Find a buyer, and
Incorporate feedback.
True
➜ False
The three tasks of the AFI strategy framework are to Analyze, Formulate, and Implement. This
framework (1) explains and predicts differences in firm performance, and (2) helps managers formulate
and implement a strategy grounded in internal and external analysis that can result in superior
performance.
Difficulty: 2 Medium Learning Objective: 01-05 Explain the
Analysis, Formulation, Implementation (AFI)
Strategy Framework.
https://ezto.mheducation.com/hm_management.tpx 2/95
about:blank 2/176
, This is a preview
Do you want full access? Go Premium and unlock all 95 pages
Access to all documents
Get Unlimited Downloads
Improve your grades
Free Trial
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Upload
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about:blank 3/176
