Test Bank - Strategic Management Concepts and Cases Competitiveness and Globalization, 14th Edition by Hitt, Ireland, & Hoskisson All 1-13 Chapters Covered ,Latest Edition

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, Bank for Strategic Management Concepts and Cases Competitiveness and Globalization 14e Michael
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Hitt, Duane Ireland, Robert Hoskisson, Jeffrey Harrison (All Chapters 100% Original Verified, A+
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Grade)
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Chapter 01 - Strategic Management and Strategic Competitiveness
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True / False n1 n1




1. The difference between average and above-average returns is that average returns are returns that an investor
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expects to earn from an investment as compared to other investments with similar stock prices, while above-
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average returns are in excess of expectations for similarly priced stocks.
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a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-1 An Overview of Strategy and Strategic Competitiveness n1 n1 n1 n1 n1 n1 n1


QUESTION TYPE: True / False n1 n1 n1


HAS VARIABLES: n1 False
LEARNING OBJECTIVES: SM.HITT.24.01.01 - Define strategic competitiveness, strategy, competitive
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advantage, above-average returns, and the strategic management process.
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NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
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KEYWORDS: Bloom's: Analyze n1


DATE CREATED: n1 4/19/2023 5:02 PM n1 n1


DATE MODIFIED: n1 4/19/2023 5:02 PM n1 n1




2. Particularly when assessing investments in new venture firms, the most effective, and often the only, way to
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measure the performance of the firms and determine their viability as an investment option is to examine
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financial metrics such as returns on assets, and sales.
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a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-1 An Overview of Strategy and Strategic Competitiveness n1 n1 n1 n1 n1 n1 n1


QUESTION TYPE: True / False n1 n1 n1


HAS VARIABLES: n1 False
LEARNING OBJECTIVES: SM.HITT.24.01.01 - Define strategic competitiveness, strategy, competitive
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advantage, above-average returns, and the strategic management process.
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NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
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KEYWORDS: Bloom's: Analyze n1


DATE CREATED: n1 4/19/2023 5:02 PM n1 n1


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3. Examples of incremental innovations include iPads, Wi-Fi, and the web browser.
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a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-2 The Competitive Landscape n1 n1 n1

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,QUESTION TYPE: True / False n1 n1 n1


HAS VARIABLES:
n1 False
LEARNING OBJECTIVES: SM.HITT.24.01.02 - Describe the competitive landscape, and explain how
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globalization, technological changes, and expectations of socially responsible behavior
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shape it. n1 n1


NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
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KEYWORDS: Bloom's: Apply n1


DATE CREATED:n1 4/19/2023 5:02 PM n1 n1


DATE MODIFIED:
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4. The I/O and resource-based models contain many of the same steps. One clear difference between the two
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models is the resource-based model starts by looking at the internal strengths and weaknesses of a firm, while the
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I/O model begins with an examination of the external environment. Another key difference is the resource-based
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model identifies an attractive industry much earlier in the process than does the I/O model.
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a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-4 The Resource-Based Model of Above-Average Returns n1 n1 n1 n1 n1 n1



QUESTION TYPE: True / False
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HAS VARIABLES:
n1 False
LEARNING OBJECTIVES: SM.HITT.24.01.04 - Use the resource-based model to explain how firms can earn
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above- average returns. n1 n1 n1


NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
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KEYWORDS: Bloom's: Analyze n1


DATE CREATED:n1 4/19/2023 5:02 PM n1 n1



DATE MODIFIED:
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Multiple Choice n1




5. What has a firm achieved when it successfully formulates and implements a value-creating strategy?
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a. Strategic competitiveness n1


b. A permanently sustainable competitive advantage
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c. Substantial returns n1


d. Legal and ethical core values n1 n1 n1 n1


ANSWER: a
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-1 An Overview of Strategy and Strategic Competitiveness n1 n1 n1 n1 n1 n1 n1


QUESTION TYPE: Multiple Choice
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HAS VARIABLES:
n1 False
LEARNING OBJECTIVES: SM.HITT.24.01.01 - Define strategic competitiveness, strategy, competitive
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advantage, above-average returns, and the strategic management process.
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NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
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KEYWORDS: Bloom's: Understand n1


DATE CREATED:n1 4/19/2023 5:02 PM n1 n1


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, DATE MODIFIED:
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