Strategic MGMT Exam With Complete
Questions And Correct Answers|
Brand New Version!
A company's ____________ is (are) the coordinated set of actions that its managers
take in order to outperform the company's competitors and achieve superior profitability.
- Answer- Strategy
A firm can create a competitive advantage by employing the same strategy as its
competitors? T/F? - Answer- False
The car maker Spyker builds high-end luxury sports cars. They make only two-seated
vehicles, and draw heavily from aeronautical design to inspire their cars. For example,
they use numerous of analog gauges in addition to lots of exposed aluminum in the
interior, and at one point, they even made a steering wheel that looked like an airplane
propeller. What generic strategic approach is Spyker most likely using? - Answer-
Focused differentiation
A company's realized strategy is often a combination of a(n) _________ and
a(n)____________? - Answer- deliberate strategy; emergent strategy
The grocery store Aldi is known for its efficiency and low prices in selling typical items.
They are able to reduce costs by cutting back on labor through offering limited customer
service (e.g., you have to bag your groceries and they use a clever system that requires
you to return your buggy after shopping). They also cut cost by stocking seasonal and
generic products that can be purchased cheaply in large quantities. What generic
strategic approach is Aldi most likely using? - Answer- Low-cost
Ideally, a vision statement describes what a firm has done in the past and what it is
doing well in the present. T/F? - Answer- False
Making a profit could best described as part of a firm's _________? - Answer-
Objectives
Vision statements help firm leadership to ____________? - Answer- Reduce the risk of
making decisions without a clear direction
Imagine your boss addresses the company and states that a new objective of the firm is
to take marketshare back from a rival and grow the firm's market share by 10% over the
next year. This is an example of a(n)_________ objective? - Answer- Strategic
The board of director's duty is to act on behalf of shareholders not management. T/F? -
Answer- True
Questions And Correct Answers|
Brand New Version!
A company's ____________ is (are) the coordinated set of actions that its managers
take in order to outperform the company's competitors and achieve superior profitability.
- Answer- Strategy
A firm can create a competitive advantage by employing the same strategy as its
competitors? T/F? - Answer- False
The car maker Spyker builds high-end luxury sports cars. They make only two-seated
vehicles, and draw heavily from aeronautical design to inspire their cars. For example,
they use numerous of analog gauges in addition to lots of exposed aluminum in the
interior, and at one point, they even made a steering wheel that looked like an airplane
propeller. What generic strategic approach is Spyker most likely using? - Answer-
Focused differentiation
A company's realized strategy is often a combination of a(n) _________ and
a(n)____________? - Answer- deliberate strategy; emergent strategy
The grocery store Aldi is known for its efficiency and low prices in selling typical items.
They are able to reduce costs by cutting back on labor through offering limited customer
service (e.g., you have to bag your groceries and they use a clever system that requires
you to return your buggy after shopping). They also cut cost by stocking seasonal and
generic products that can be purchased cheaply in large quantities. What generic
strategic approach is Aldi most likely using? - Answer- Low-cost
Ideally, a vision statement describes what a firm has done in the past and what it is
doing well in the present. T/F? - Answer- False
Making a profit could best described as part of a firm's _________? - Answer-
Objectives
Vision statements help firm leadership to ____________? - Answer- Reduce the risk of
making decisions without a clear direction
Imagine your boss addresses the company and states that a new objective of the firm is
to take marketshare back from a rival and grow the firm's market share by 10% over the
next year. This is an example of a(n)_________ objective? - Answer- Strategic
The board of director's duty is to act on behalf of shareholders not management. T/F? -
Answer- True
