GEB 4890 1 VIEW AHEAD TEST 2026
VERIFIED QUESTIONS WITH SOLUTIONS
GRADED A+
●● what makes a competitive advantage sustainable:.
Answer: are elements of the strategy that give buyers lasting reasons to
prefer a company's products or services over those of competitors--
reasons that the competitors are unable to nullify or overcome despite
their best efforts.
●● most basic 5 approaches for setting a company apart from rivals and
winning a sustainable competitive advantage.
Answer: 1-low-cost provider strategy, 2-broad differentiation strategy, 3-
focused low-cost strategy 4-focused differentiation strategy, 5-best-cost
provider strategy
●● company's strategy tends to evolve.
Answer: because of changing circumstances and ongoing efforts by
management to improve the strategy.
●● why should a company have a viable business model that outlines
the company's customer value proposition and its profit formula?.
Answer: A company's business model sets forth the logic for how its
strategy will create value for customers and at the same time generate
,revenues sufficient to cover costs and realize a profit. Thus, it contains 2
crucial elements, (1) the customer value proposition, & (2) the profit
formula. These elements are illustrated by the value-price-cost
framework.
●● A winning strategy must pass three tests:.
Answer: (1) fit (external, internal, and dynamic consistency), (2)
competitive advantage ( durable competitive advantage), and (3)
performance (outstanding financial and market performance).
●● low-cost provider strategy.
Answer: achieving a cost-based advantage over rivals.
●● broad differentiation strategy.
Answer: seeking to differentiate the company's product or service from
that of rivals in ways that will appeal to a broad spectrum of buyers.
●● focused low-cost strategy.
Answer: concentrating on a narrow buyer segment and outcompeting
rivals by having lower costs and thus being able to serve niche members
at a lower price.
●● focused differentiation strategy.
,Answer: concentrating on a narrow buyer segment (or market niche) and
outcompeting rivals by offering buyers customized attributes that meet
their specialized needs and tastes better than rivals' products.
●● best-cost provider strategy.
Answer: giving customers more value for the money by satisfying their
expectations on key quality features, performance, and/or service
attributes while beating their price expectations. Blends low-cost
provider and differentiation strategies; the aim is to have lower costs
than rivals while simultaneously offering better differentiating attributes.
●● crafting a good strategy covers both S-T and L-T, achieving this
entails making a managerial commitment to a coherent array of well-
considered choices about how to compete: These include:.
Answer: -How to position the company in the market place. '-How to
attract customers. '-How to compete against rivals. '-How to achieve the
company's performance targets. '-How to capitalize on opportunities to
grow the business. '-How to respond to changing economic and market
conditions.
●● A strategy stands a better chance of succeeding when it is predicated
on actions, business approaches, and competitive moves aimed at:.
Answer: (1) appealing to buyers in ways that set a company apart from
its rivals and (2) staking out a market position that is not crowded with
strong competitors.
, ●● A company achieves a __________ when it provides buyers with
superior value compared to rival sellers or offers the same value at a
lower cost to the firm..
Answer: competitive advantage
●● The advantage is _________ if it persists despite the best efforts of
competitors to match or surpass this advantage..
Answer: sustainable
●● Changing circumstances and ongoing management efforts to
improve the strategy cause a company's strategy to :.
Answer: evolve over time--a condition that makes the task of crafting
strategy a work in progress, not a one-time event.
●● A company's strategy is shaped partly by:.
Answer: management analysis and choice and partly by the necessity of
adapting and learning by doing.
●● The evolving nature of a company's strategy means that the typical
company strategy is a blend of.
Answer: (1) proactive and (2) reactive
●● Proactive.
VERIFIED QUESTIONS WITH SOLUTIONS
GRADED A+
●● what makes a competitive advantage sustainable:.
Answer: are elements of the strategy that give buyers lasting reasons to
prefer a company's products or services over those of competitors--
reasons that the competitors are unable to nullify or overcome despite
their best efforts.
●● most basic 5 approaches for setting a company apart from rivals and
winning a sustainable competitive advantage.
Answer: 1-low-cost provider strategy, 2-broad differentiation strategy, 3-
focused low-cost strategy 4-focused differentiation strategy, 5-best-cost
provider strategy
●● company's strategy tends to evolve.
Answer: because of changing circumstances and ongoing efforts by
management to improve the strategy.
●● why should a company have a viable business model that outlines
the company's customer value proposition and its profit formula?.
Answer: A company's business model sets forth the logic for how its
strategy will create value for customers and at the same time generate
,revenues sufficient to cover costs and realize a profit. Thus, it contains 2
crucial elements, (1) the customer value proposition, & (2) the profit
formula. These elements are illustrated by the value-price-cost
framework.
●● A winning strategy must pass three tests:.
Answer: (1) fit (external, internal, and dynamic consistency), (2)
competitive advantage ( durable competitive advantage), and (3)
performance (outstanding financial and market performance).
●● low-cost provider strategy.
Answer: achieving a cost-based advantage over rivals.
●● broad differentiation strategy.
Answer: seeking to differentiate the company's product or service from
that of rivals in ways that will appeal to a broad spectrum of buyers.
●● focused low-cost strategy.
Answer: concentrating on a narrow buyer segment and outcompeting
rivals by having lower costs and thus being able to serve niche members
at a lower price.
●● focused differentiation strategy.
,Answer: concentrating on a narrow buyer segment (or market niche) and
outcompeting rivals by offering buyers customized attributes that meet
their specialized needs and tastes better than rivals' products.
●● best-cost provider strategy.
Answer: giving customers more value for the money by satisfying their
expectations on key quality features, performance, and/or service
attributes while beating their price expectations. Blends low-cost
provider and differentiation strategies; the aim is to have lower costs
than rivals while simultaneously offering better differentiating attributes.
●● crafting a good strategy covers both S-T and L-T, achieving this
entails making a managerial commitment to a coherent array of well-
considered choices about how to compete: These include:.
Answer: -How to position the company in the market place. '-How to
attract customers. '-How to compete against rivals. '-How to achieve the
company's performance targets. '-How to capitalize on opportunities to
grow the business. '-How to respond to changing economic and market
conditions.
●● A strategy stands a better chance of succeeding when it is predicated
on actions, business approaches, and competitive moves aimed at:.
Answer: (1) appealing to buyers in ways that set a company apart from
its rivals and (2) staking out a market position that is not crowded with
strong competitors.
, ●● A company achieves a __________ when it provides buyers with
superior value compared to rival sellers or offers the same value at a
lower cost to the firm..
Answer: competitive advantage
●● The advantage is _________ if it persists despite the best efforts of
competitors to match or surpass this advantage..
Answer: sustainable
●● Changing circumstances and ongoing management efforts to
improve the strategy cause a company's strategy to :.
Answer: evolve over time--a condition that makes the task of crafting
strategy a work in progress, not a one-time event.
●● A company's strategy is shaped partly by:.
Answer: management analysis and choice and partly by the necessity of
adapting and learning by doing.
●● The evolving nature of a company's strategy means that the typical
company strategy is a blend of.
Answer: (1) proactive and (2) reactive
●● Proactive.
