Strategic MGMT Exam Graded A+
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1. A company achieves competitive advantage when: it has some type of edge over rivals in
attracting buyers and coping with competitive forces
2. Among all the things managers do, nothing effects a company's ultimate
success or failure more fundamentally than: how all its management team charts the company's
direction, develops competitively effective strategies and business approaches, and pursues what needs to be done
internally tp produce good day -in day out
3. Two crucial elements of a companys business model are: its customer value proposition
and its profit proposition or "profit formula"
4. The heart and soul of any strategy: Are the actions and moves in the market place that managers
are taking to gain a competitive advantage over rivals
5. Fro a companys strategy to qualify as "ethical" it cannot entail: Actions or behaviors
that are deceitful, unfair, or harmful, to others or unreasonably damaging to the environment.
6. Which of the following statements about a company's strategy is true?: A
companys strategy is typically a blend of proactive and reactive strategy elements
7. 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
8. A company's strategy is most accurately defined as: management's commitment to pursue
a particular set of actions in attracting and pleasing customers, competing successfully, capitalizing on opportunities
to grow the business, responding to changing market conditions, conducting operations and achieving the targeted
financial and market performance
9. The customer value proposition portion of a company's business model con-
cerns: the company's approach to satisfying buyer needs and requirements at a price they will considers a good
value
10. The competitive market moves and business approaches a companys man-
agement is using to attract and please customers, compete successfully, cap-
italize on opportunities to grow the business, respond to changing market
conditions, conduct operations, and achieve the target financial and market
performance is what defines a company: STRATEGY
11. The difference between a company's strategy and a companys business
model is that: strategy relates broadly to a company's competitive moves and business approaches (which may
, Strategic MGMT Exam Graded A+
Study online at https://quizlet.com/_i5c55m
or may not lead to profitability) while its business model relates to whether the company can execute its customer value
proposition profitability
12. Which of the following is NOT the reason that a company's strategy evolves
over time?: The ongoing need to frequently pursue entirely new ways to cut costs and boost profitability
13. Which one of the following statements about whether a company's strategy
can be considered ethically true?: Just keeping a company's strategic actions within the bounds of
what is legal does not mean the strategy is ethical
14. Is it normal for a company's strategy to end up being: a blend of proactive actions
to improve the company's competitiveness and financial performance and as-needed reactions to unanticipated
developments and fresh market conditions.
15. 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 for laying off a portion of its work force or paying down its long-term debt
16. The key success factors in an industry: are those competitive factors that most affect industry
members' abilities to prosper in the marketplace—the particular strategy elements, product attributes, operational
approaches, resources, and competitive capabilities that spell the difference between being a strong competitor and
a weak one, and between profit and loss.
17. Whether supplier bargaining power represents a strong or weak source
of competitive pressure is affected by: whether the item being supplied is a standard item (or
commodity) or, instead, whether certain suppliers provided a differentiated input that enhances the performance or
quality of the industry product
18. The rivalry among competing sellers tends to be more intense when: industry
members have too much inventory or significant amounts of idle production capacity, especially if the industry product
entails high storage costs or high fixed costs
19. The competitive pressures from substitute products tend to be weaker
when: buyers have high costs in switching to substitutes
20. Which of the following do NOT qualify as potential driving forces capable of
inducing fundamental changes in industry and competitive conditions?: Increases
in supplier bargaining power and increases in the prices of substitute products
21. Which of the following are Important considerations in evaluating whether
an industry's outlook is conducive to good profitability?: the industry's growth potential,
, Strategic MGMT Exam Graded A+
Study online at https://quizlet.com/_i5c55m
the anticipated strength of competitive forces, and whether the industry and the company are being favorably or
unfavorably impacted by the macro-environmental factors
22. Closely monitoring the strategies and situations of key rivals and trying to
prepare for the actions they are likely to take: avoids the mistake of flying blind into competitive
battle without having some inkling of what actions rival may take thereby reducing the risk of being caught napping
and suffering a damaging loss of sales and profits
23. Which one of the following generally does NOT acts to weaken the rivalry
among competing sellers?: Industry conditions that tempt rivals to use price cuts or other competitive
weapons to boost unit sales
24. Which of the following conditions acts to intensify the competitive pressures
associated with the threat of entry?: A general belief on the part of entry candidates that industry
members are unwilling or unable to strongly contest the effort of newcomers to gain a market foothold
25. Which of the following is NOT one of the five important "outer-ring" compo-
nents of a companys macro environment: The industry's profit outlook
26. The best test of whether potential entry is a strong or weak competitive force
is: the industry's growth and profit prospects are strongly attractive to potential entry candidates
27. Strategic group mapping is a technique for determining: the different market positions
that rival firms occupy in an industry and which companies are close competitors and which are distant competitors
28. Just identifying an industry's driving forces is not sufficient; a more important
step is to: determine whether the collective impact of the driving forces will be to increaser decrease market
demand make competition more or less intense, and lead to higher or lower industry profitability.
29. Which of the following is generally NOT considered as a barrier to entry?: Weak
brand preferences and low degrees of customer loyalty to existing brands
30. Which of the following is NOT a factor to be considered in the five-forces
model of competition?: competitive pressures created by shifting industry key success factors
31. As a rule, the stronger the collective impact of the five competitive forces,: the
lower the combined profitability industry participants
32. Based on Figure 3.4, which of the following is not a typical competitive
weapon that a company can use to battle rivals and attract buyers?: Winning a
bigger market share
Study online at https://quizlet.com/_i5c55m
1. A company achieves competitive advantage when: it has some type of edge over rivals in
attracting buyers and coping with competitive forces
2. Among all the things managers do, nothing effects a company's ultimate
success or failure more fundamentally than: how all its management team charts the company's
direction, develops competitively effective strategies and business approaches, and pursues what needs to be done
internally tp produce good day -in day out
3. Two crucial elements of a companys business model are: its customer value proposition
and its profit proposition or "profit formula"
4. The heart and soul of any strategy: Are the actions and moves in the market place that managers
are taking to gain a competitive advantage over rivals
5. Fro a companys strategy to qualify as "ethical" it cannot entail: Actions or behaviors
that are deceitful, unfair, or harmful, to others or unreasonably damaging to the environment.
6. Which of the following statements about a company's strategy is true?: A
companys strategy is typically a blend of proactive and reactive strategy elements
7. 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
8. A company's strategy is most accurately defined as: management's commitment to pursue
a particular set of actions in attracting and pleasing customers, competing successfully, capitalizing on opportunities
to grow the business, responding to changing market conditions, conducting operations and achieving the targeted
financial and market performance
9. The customer value proposition portion of a company's business model con-
cerns: the company's approach to satisfying buyer needs and requirements at a price they will considers a good
value
10. The competitive market moves and business approaches a companys man-
agement is using to attract and please customers, compete successfully, cap-
italize on opportunities to grow the business, respond to changing market
conditions, conduct operations, and achieve the target financial and market
performance is what defines a company: STRATEGY
11. The difference between a company's strategy and a companys business
model is that: strategy relates broadly to a company's competitive moves and business approaches (which may
, Strategic MGMT Exam Graded A+
Study online at https://quizlet.com/_i5c55m
or may not lead to profitability) while its business model relates to whether the company can execute its customer value
proposition profitability
12. Which of the following is NOT the reason that a company's strategy evolves
over time?: The ongoing need to frequently pursue entirely new ways to cut costs and boost profitability
13. Which one of the following statements about whether a company's strategy
can be considered ethically true?: Just keeping a company's strategic actions within the bounds of
what is legal does not mean the strategy is ethical
14. Is it normal for a company's strategy to end up being: a blend of proactive actions
to improve the company's competitiveness and financial performance and as-needed reactions to unanticipated
developments and fresh market conditions.
15. 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 for laying off a portion of its work force or paying down its long-term debt
16. The key success factors in an industry: are those competitive factors that most affect industry
members' abilities to prosper in the marketplace—the particular strategy elements, product attributes, operational
approaches, resources, and competitive capabilities that spell the difference between being a strong competitor and
a weak one, and between profit and loss.
17. Whether supplier bargaining power represents a strong or weak source
of competitive pressure is affected by: whether the item being supplied is a standard item (or
commodity) or, instead, whether certain suppliers provided a differentiated input that enhances the performance or
quality of the industry product
18. The rivalry among competing sellers tends to be more intense when: industry
members have too much inventory or significant amounts of idle production capacity, especially if the industry product
entails high storage costs or high fixed costs
19. The competitive pressures from substitute products tend to be weaker
when: buyers have high costs in switching to substitutes
20. Which of the following do NOT qualify as potential driving forces capable of
inducing fundamental changes in industry and competitive conditions?: Increases
in supplier bargaining power and increases in the prices of substitute products
21. Which of the following are Important considerations in evaluating whether
an industry's outlook is conducive to good profitability?: the industry's growth potential,
, Strategic MGMT Exam Graded A+
Study online at https://quizlet.com/_i5c55m
the anticipated strength of competitive forces, and whether the industry and the company are being favorably or
unfavorably impacted by the macro-environmental factors
22. Closely monitoring the strategies and situations of key rivals and trying to
prepare for the actions they are likely to take: avoids the mistake of flying blind into competitive
battle without having some inkling of what actions rival may take thereby reducing the risk of being caught napping
and suffering a damaging loss of sales and profits
23. Which one of the following generally does NOT acts to weaken the rivalry
among competing sellers?: Industry conditions that tempt rivals to use price cuts or other competitive
weapons to boost unit sales
24. Which of the following conditions acts to intensify the competitive pressures
associated with the threat of entry?: A general belief on the part of entry candidates that industry
members are unwilling or unable to strongly contest the effort of newcomers to gain a market foothold
25. Which of the following is NOT one of the five important "outer-ring" compo-
nents of a companys macro environment: The industry's profit outlook
26. The best test of whether potential entry is a strong or weak competitive force
is: the industry's growth and profit prospects are strongly attractive to potential entry candidates
27. Strategic group mapping is a technique for determining: the different market positions
that rival firms occupy in an industry and which companies are close competitors and which are distant competitors
28. Just identifying an industry's driving forces is not sufficient; a more important
step is to: determine whether the collective impact of the driving forces will be to increaser decrease market
demand make competition more or less intense, and lead to higher or lower industry profitability.
29. Which of the following is generally NOT considered as a barrier to entry?: Weak
brand preferences and low degrees of customer loyalty to existing brands
30. Which of the following is NOT a factor to be considered in the five-forces
model of competition?: competitive pressures created by shifting industry key success factors
31. As a rule, the stronger the collective impact of the five competitive forces,: the
lower the combined profitability industry participants
32. Based on Figure 3.4, which of the following is not a typical competitive
weapon that a company can use to battle rivals and attract buyers?: Winning a
bigger market share
