Strategic Management, 6th Edition 2024 By Rothaermel Frank, Verified Chapters 1 - 12, Complete Newest Version

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Strategic Management 6th Edition Rothaermel Frank
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ISBN 9781265954574
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Chapter 1-12 Answers are at the End of Each Chapter
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Chapter 1 gg




Student name: gg gg



1) A good strategy allows a firm to achieve superior performance and
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ggsustainable competitiveadvantage without regard to the external
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ggenvironment.
⊚ true
⊚ false


2) The following statement by the chief executive of MegaFilms movie studio should not
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beused as a strategy: “We will produce the greatest films of the 21st century.”
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⊚ true
⊚ false


3) The three tasks of the AFI strategy framework are to Assemble a prototype, Find a
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gg buyer, and Incorporate feedback.
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⊚ true
⊚ false


4) Questions asked during the strategy analysis stage of the AFI framework should
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gg include “What effects do forces in the external environment have on the firm’s
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gg potential to gain and sustain a competitive advantage?”
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⊚ true g g g g g g


⊚ false g g g g g g

,5) Once a strategy has been formulated and implemented, it is important that the firm
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gg sticks to it no matter what happens.
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⊚ true
⊚ false



6) Because they are a crucial component of a firm’s success, customers are
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gg considered internalstakeholders. gg


⊚ true
⊚ false


7) A firm is required by society and its shareholders to meet its ethical
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gg and philanthropicresponsibilities.
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⊚ true
⊚ false


8) Stakeholder impact analysis provides a decision tool that helps strategic leaders
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gg recognize theneeds of different stakeholders.
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⊚ true
⊚ false



9) Juan wants to open his own hot dog restaurant but doesn’t know anything about
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gg business. Heneeds help determining who his competition is, how he should craft his
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gg strategy to compete and how he’ll implement his strategy to achieve a competitive
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gg advantage. He’s hired you to help him get started. As a result, you will probably
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gg use which of the following?
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A) AFI strategy framework gg gg


B) Red Queen effect gg gg


C) competitive benchmarking gg


D) Stakeholder Impact analysis gg gg

, 10) Roberta is interested in the concept of strategy and decides to create her own. As
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gg a result,Roberta says that her strategy is to focus on competitive benchmarking
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gg to achieve competitive advantage. Which is the best evaluation of Roberta’s
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gg statement?
A) Roberta’s strategy is clear, but she should provide more detail.
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B) Roberta’s strategy reveals a clear strategic position and tradeoff, so
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she shouldproceed.
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C) Roberta should reevaluate her statement because it fails to mention more
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than onestrategy.
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D) Roberta should reevaluate her statement because it fails to meet the principles
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of what a strategy should be.
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11) Tony’s Pizza Shop is able to net $10,000 a week; this makes the shop profitable. Its
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gg numberone competitor, Leo’s Pies, is also profitable, netting $12,000 a week. Lil
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gg Anthony’s Pizza Palace nets $13,000 a week. Since Tony’s Pizza Shop is
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gg profitable, we can conclude that it has a competitive advantage in its industry.
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A) True—competitive advantage is achieved through profitability alone. gg gg gg gg gg gg



B) True—competitive advantage is achieved since Tony has a positive net income. gg gg gg gg gg gg gg gg gg gg



C) False—competitive advantage is only achieved by generating above gg gg gg gg gg gg gg


average returns,relative to competition.
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D) False—Tony more than likely has a sustained competitive advantage since gg gg gg gg gg gg gg gg gg



he’s been in business longer.
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12) Bill’s Auto & Airplane Repair shop is able to generate a positive net income of
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$10,000 aweek, which is about the same as the income of a close competitor. As
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a result, we can conclude that the two businesses also have a competitive parity
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in the industry.
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A) Correct—competitive advantage is achieved through profitability alone. gg gg gg gg gg gg



B) Correct—competitive advantage is achieved since Bill’s Auto & Airplane gg gg gg gg gg gg gg gg


Repair shop has a positive net income.
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C) Correct—competitive parity is a performance of two or more firms at the same gg gg gg gg gg gg gg gg gg gg gg gg


level. gg



D) Incorrect—Bill’s Auto & Airplane Repair shop more than likely gg gg gg gg gg gg gg gg


has a sustainedcompetitive advantage because the business is
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diversified. gg