Globus Final || All Answers Are Correct.
The difference between a company's strategy and a company's business model is that correct
answers 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 revenues sufficient to cover costs and yield an
attractive profit.
A winning strategy is one that correct answers fits the company's internal and external
situation, improves company performance, and helps achieve sustainable competitive
advantage.
Typically, a company's strategy is correct answers a blend of (1) proactive actions to improve
the company's financial performance and secure a competitive edge and (2) as-needed
reactions to unanticipated developments and fresh market conditions
A company's business model correct answers is managements 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
A company achieves sustainable competitive advantage when correct answers an attractive
number of buyers are drawn to purchase its products or services rather than those of
competitors and when the basis for the preference is durable, despite the efforts of
competitors to nullify or overcome the appeal of its product offering.
What makes a competitive advantage sustainable or durable as opposed to temporary correct
answers are actions or elements in a company's strategy that cause an attractive number of
buyers to have lasting reasons to purchase the company's products or services, despite
competitor's best efforts to nullify or overcome those reasons
In choosing among strategy alternatives, company managers correct answers are well advised
to embrace actions strategic actions that can pass the test of moral scrutiny-- it is not enough
to just stay within the boards of what is legal and is in compliance with prevailing
government regulations
Two crucial elements of a company's business model are correct answers its profit
proposition or "profit formula" and its customer value proposition
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
The reputational and financial damage that unethical strategies and behavior can do to a
company correct answers is substantial; consequently, there are good business reason for a
company and its personnel to avoid unethical strategic actions and behaviors
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 boost the company's earnings per share and
stock price
,Changing circumstances and ongoing managerial efforts to improve the strategy correct
answers account for why a company's strategy evolves over time and why the task of crafting
a company's strategy is a work in progress, not a one-time event.
The competitive moves and business approaches a company's management is using to attract
and please customers, compete successfully, grow the business, respond to changing market
conditions, conduct operations, and achieve the targeted financial and market performance is
what defines a company's correct answers strategy
Crafting and executing strategy are top-priority managerial tasks because correct answers
how well a company performs and the degree of market success it achieves are directly,
attributable to the caliber of its strategy and the proficiency with which the strategy is
executed
Which of the following statements about a company's strategy is false correct answers A
company's strategy is deliberately kept under wraps by top-level managers so as to catch rival
companies
The task of stitching together a strategy correct answers entails addressing a series of hows:
how to attract and please customers, how to compete against rivals, how to position the
company in the marketplace vis-avis rivals, how best to pursue attractive opportunities to
grow the business, how best to respond to changing economic and market conditions, how to
manage each functional piece of the business, and how to achieve the company's strategic and
financial objectives
The obligations of an investor-owned company's board of directors in the strategy-making,
strategy-executing process include correct answers overseeing the company's financial
accounting and financial reporting practices and instituting a compensation plan for top
executives
A company's values, or core values, concern correct answers the beliefs, traits, and behavioral
norms that company personnel are expected to display in conducting the company's business
and pursuing its strategic vision and mission
Managerial jobs with strategy-making responsibility correct answers exist at many levels of
the organizational structure of a large corporation when its operations cut across different
products, industries, and geographical areas
Operating strategies concern correct answers the relatively narrow strategic initiatives and
approaches for managing key operating units (plants, distribution centers, geographic units)
and specific operating activities with strategic significance (quality control, advertising,
brand-building efforts, supply chain-related activities, and website operations)
Which one of the following approaches to objective-setting should definitely be avoided
correct answers Setting targets that carry no adverse consequences for organizational
members if actual performance falls short of targeted performance
, Which one of the following questions is not something that the company managers should
consider in charting a company's future direction are shown in Table 2.1? correct answers
Does the company have a better business model than key rivals?
Which of the following are key tasks in the strategy-making, strategy-executing process?
correct answers Developing a strategic vision, mission, and core values; setting objectives;
and crafting a strategy to achieve the objectives and move the company along the path to
accomplishing the mission and vision
In a single-business company, the strategy-making hierarchy (as shown in Figure 2-2)
consists of correct answers Business strategy, functional area strategies, and operating
strategies
Which of the following is the best example of a well-stated strategic objective? correct
answers Reduce production costs per unit by 10% within 12 months
The surest path to boosting company profitability quarter after quarter and year after year is
for company managers to correct answers relentlessly pursue strategic outcomes that
strengthen the company's market position with buyers and, ideally, produce a growing
competitive advantage over rivals
A set of "stretch" financial and strategic objectives correct answers helps a company avoid
ho-hum results
A company's strategic vision concerns correct answers a company's long-term direction and
what product-customer-market-business mix seems optimal for the road ahead
Corporate strategy for a diversified or multi-business enterprise correct answers concerns
strategy initiatives to establish business positions in different industries, whether to hold or
divest existing businesses, strategic actions to boost the combined performance if the set of
businesses the company has diversified into and how to capture cross-business synergies and
turn them into a competitive advantage
Effectively communicating the strategic vision to lower-level managers and employees is a
valuable tool for correct answers enlisting the commitment of company personnel to actions
that get the company moving in the intended direction
Which of the following is not among the principal managerial tasks associated with
implementing and executing a company's strategy? correct answers Pushing employees to
work hard, do their very best, and meet or beat the established performance targets---
employees that fall short on these criteria must be quickly weeded out
The difference between the concept of a company mission statement and the concept of a
strategic vision is that correct answers a mission statement typically concerns a company's
present business scope and purpose ("who we are, what we do, and why we are here")
whereas the principal concern of a strategic vision is with the company's future direction and
"where we are going"
Which of the following is not a common shortcoming of company vision statements? correct
answers Too focused on long-term revenue growth and profitability
The difference between a company's strategy and a company's business model is that correct
answers 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 revenues sufficient to cover costs and yield an
attractive profit.
A winning strategy is one that correct answers fits the company's internal and external
situation, improves company performance, and helps achieve sustainable competitive
advantage.
Typically, a company's strategy is correct answers a blend of (1) proactive actions to improve
the company's financial performance and secure a competitive edge and (2) as-needed
reactions to unanticipated developments and fresh market conditions
A company's business model correct answers is managements 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
A company achieves sustainable competitive advantage when correct answers an attractive
number of buyers are drawn to purchase its products or services rather than those of
competitors and when the basis for the preference is durable, despite the efforts of
competitors to nullify or overcome the appeal of its product offering.
What makes a competitive advantage sustainable or durable as opposed to temporary correct
answers are actions or elements in a company's strategy that cause an attractive number of
buyers to have lasting reasons to purchase the company's products or services, despite
competitor's best efforts to nullify or overcome those reasons
In choosing among strategy alternatives, company managers correct answers are well advised
to embrace actions strategic actions that can pass the test of moral scrutiny-- it is not enough
to just stay within the boards of what is legal and is in compliance with prevailing
government regulations
Two crucial elements of a company's business model are correct answers its profit
proposition or "profit formula" and its customer value proposition
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
The reputational and financial damage that unethical strategies and behavior can do to a
company correct answers is substantial; consequently, there are good business reason for a
company and its personnel to avoid unethical strategic actions and behaviors
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 boost the company's earnings per share and
stock price
,Changing circumstances and ongoing managerial efforts to improve the strategy correct
answers account for why a company's strategy evolves over time and why the task of crafting
a company's strategy is a work in progress, not a one-time event.
The competitive moves and business approaches a company's management is using to attract
and please customers, compete successfully, grow the business, respond to changing market
conditions, conduct operations, and achieve the targeted financial and market performance is
what defines a company's correct answers strategy
Crafting and executing strategy are top-priority managerial tasks because correct answers
how well a company performs and the degree of market success it achieves are directly,
attributable to the caliber of its strategy and the proficiency with which the strategy is
executed
Which of the following statements about a company's strategy is false correct answers A
company's strategy is deliberately kept under wraps by top-level managers so as to catch rival
companies
The task of stitching together a strategy correct answers entails addressing a series of hows:
how to attract and please customers, how to compete against rivals, how to position the
company in the marketplace vis-avis rivals, how best to pursue attractive opportunities to
grow the business, how best to respond to changing economic and market conditions, how to
manage each functional piece of the business, and how to achieve the company's strategic and
financial objectives
The obligations of an investor-owned company's board of directors in the strategy-making,
strategy-executing process include correct answers overseeing the company's financial
accounting and financial reporting practices and instituting a compensation plan for top
executives
A company's values, or core values, concern correct answers the beliefs, traits, and behavioral
norms that company personnel are expected to display in conducting the company's business
and pursuing its strategic vision and mission
Managerial jobs with strategy-making responsibility correct answers exist at many levels of
the organizational structure of a large corporation when its operations cut across different
products, industries, and geographical areas
Operating strategies concern correct answers the relatively narrow strategic initiatives and
approaches for managing key operating units (plants, distribution centers, geographic units)
and specific operating activities with strategic significance (quality control, advertising,
brand-building efforts, supply chain-related activities, and website operations)
Which one of the following approaches to objective-setting should definitely be avoided
correct answers Setting targets that carry no adverse consequences for organizational
members if actual performance falls short of targeted performance
, Which one of the following questions is not something that the company managers should
consider in charting a company's future direction are shown in Table 2.1? correct answers
Does the company have a better business model than key rivals?
Which of the following are key tasks in the strategy-making, strategy-executing process?
correct answers Developing a strategic vision, mission, and core values; setting objectives;
and crafting a strategy to achieve the objectives and move the company along the path to
accomplishing the mission and vision
In a single-business company, the strategy-making hierarchy (as shown in Figure 2-2)
consists of correct answers Business strategy, functional area strategies, and operating
strategies
Which of the following is the best example of a well-stated strategic objective? correct
answers Reduce production costs per unit by 10% within 12 months
The surest path to boosting company profitability quarter after quarter and year after year is
for company managers to correct answers relentlessly pursue strategic outcomes that
strengthen the company's market position with buyers and, ideally, produce a growing
competitive advantage over rivals
A set of "stretch" financial and strategic objectives correct answers helps a company avoid
ho-hum results
A company's strategic vision concerns correct answers a company's long-term direction and
what product-customer-market-business mix seems optimal for the road ahead
Corporate strategy for a diversified or multi-business enterprise correct answers concerns
strategy initiatives to establish business positions in different industries, whether to hold or
divest existing businesses, strategic actions to boost the combined performance if the set of
businesses the company has diversified into and how to capture cross-business synergies and
turn them into a competitive advantage
Effectively communicating the strategic vision to lower-level managers and employees is a
valuable tool for correct answers enlisting the commitment of company personnel to actions
that get the company moving in the intended direction
Which of the following is not among the principal managerial tasks associated with
implementing and executing a company's strategy? correct answers Pushing employees to
work hard, do their very best, and meet or beat the established performance targets---
employees that fall short on these criteria must be quickly weeded out
The difference between the concept of a company mission statement and the concept of a
strategic vision is that correct answers a mission statement typically concerns a company's
present business scope and purpose ("who we are, what we do, and why we are here")
whereas the principal concern of a strategic vision is with the company's future direction and
"where we are going"
Which of the following is not a common shortcoming of company vision statements? correct
answers Too focused on long-term revenue growth and profitability
