TEST BANK FOR ESSENTIALS OF
STRATEGIC MANAGEMENT, THE QUEST
FOR COMPETITIVE ADVANTAGE, 7TH
EDITION, JOHN GAMBLE, MARGARET
PETERAF
,Student name:__________
1) Managers in all types of businesses must develop a clear answer for which of the
following questions?
A) Where are we now?
B) Where do we want to go from here?
C) What is the set of actions that we need to take to outperform the company’s
competitors and achieve superior profitability?
D) When will we know we are there?
E) What moves and approaches do we need to gain advantage in the marketplace?
Question Details
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Bloom's : Remember
Difficulty : 1 Easy
Topic : Strategy and the Strategic Management Process
Learning Objective : 01-01 Understand what is meant by a company's strategy.
2) A company’s strategy consists of
A) actions to develop a more appealing business model than rivals.
B) plans involving alignment of organizational activities and strategic objectives.
C) offensive and defensive moves to generate revenues and increase profit margins.
D) competitive moves and approaches that managers have developed to grow the
business, attract and please customers, conduct operations, and achieve targeted objectives.
E) its strategic vision, its strategic objectives, and its strategic intent.
Question Details
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Bloom's : Remember
Topic : Strategy and the Strategic Management Process
Difficulty : 2 Medium
Learning Objective : 01-01 Understand what is meant by a company's strategy.
Version 1 1
,3) The competitive moves and business approaches a company’s management is using to
grow the business, compete successfully, attract and please customers, conduct operations,
respond to changing economic and market conditions, and achieve organizational objectives is
referred to as its
A) strategy.
B) moves to imitate key rivals.
C) strategic mission.
D) business model.
E) strategic vision.
Question Details
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Bloom's : Remember
Difficulty : 1 Easy
Learning Objective : 01-02 Explain why a company needs a creative, distinctive strategy that sets it
Topic : Strategy and the Strategic Management Process
4) The essence of strategy is
A) developing lasting success that can support growth and secure the company’s future
over the long term.
B) re-creating a business model with regularity.
C) matching rival businesses’ products and quality dimensions in the marketplace.
D) building profits for short-term success.
E) realigning the market to provoke change in rival companies.
Version 1 2
, Question Details
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Learning Objective : 01-02 Explain why a company needs a creative, distinctive strategy that sets it
Topic : Strategy and the Strategic Management Process
Bloom's : Understand
Difficulty : 2 Medium
5) A company’s strategy has a chance of succeeding only when it is predicated on
A) building revenues, controlling costs, and generating an attractive profit.
B) actions, business approaches, and competitive moves aimed at appealing to buyers
and setting the company apart from rivals.
C) management’s concepts of “where we have been,” “where we are headed,” and
“where we need to go.”
D) the approval of a business model by a company’s board of directors that spells out
how to outcompete with rivals and make the company profitable.
E) educated choices that management has made regarding which financial and operating
plans to pursue.
Question Details
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Bloom's : Remember
Difficulty : 1 Easy
Learning Objective : 01-02 Explain why a company needs a creative, distinctive strategy that sets it
Topic : Strategy and the Strategic Management Process
6) Under Armour, a multinational sports apparel company, plans entry into a new
geographical location, Vietnam, considered an emerging market, with its established and best-
selling product line: women’s running shorts. How should Under Armour not craft a strategy to
enhance future profits in Vietnam?
Version 1 3
STRATEGIC MANAGEMENT, THE QUEST
FOR COMPETITIVE ADVANTAGE, 7TH
EDITION, JOHN GAMBLE, MARGARET
PETERAF
,Student name:__________
1) Managers in all types of businesses must develop a clear answer for which of the
following questions?
A) Where are we now?
B) Where do we want to go from here?
C) What is the set of actions that we need to take to outperform the company’s
competitors and achieve superior profitability?
D) When will we know we are there?
E) What moves and approaches do we need to gain advantage in the marketplace?
Question Details
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Bloom's : Remember
Difficulty : 1 Easy
Topic : Strategy and the Strategic Management Process
Learning Objective : 01-01 Understand what is meant by a company's strategy.
2) A company’s strategy consists of
A) actions to develop a more appealing business model than rivals.
B) plans involving alignment of organizational activities and strategic objectives.
C) offensive and defensive moves to generate revenues and increase profit margins.
D) competitive moves and approaches that managers have developed to grow the
business, attract and please customers, conduct operations, and achieve targeted objectives.
E) its strategic vision, its strategic objectives, and its strategic intent.
Question Details
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Bloom's : Remember
Topic : Strategy and the Strategic Management Process
Difficulty : 2 Medium
Learning Objective : 01-01 Understand what is meant by a company's strategy.
Version 1 1
,3) The competitive moves and business approaches a company’s management is using to
grow the business, compete successfully, attract and please customers, conduct operations,
respond to changing economic and market conditions, and achieve organizational objectives is
referred to as its
A) strategy.
B) moves to imitate key rivals.
C) strategic mission.
D) business model.
E) strategic vision.
Question Details
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Bloom's : Remember
Difficulty : 1 Easy
Learning Objective : 01-02 Explain why a company needs a creative, distinctive strategy that sets it
Topic : Strategy and the Strategic Management Process
4) The essence of strategy is
A) developing lasting success that can support growth and secure the company’s future
over the long term.
B) re-creating a business model with regularity.
C) matching rival businesses’ products and quality dimensions in the marketplace.
D) building profits for short-term success.
E) realigning the market to provoke change in rival companies.
Version 1 2
, Question Details
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Learning Objective : 01-02 Explain why a company needs a creative, distinctive strategy that sets it
Topic : Strategy and the Strategic Management Process
Bloom's : Understand
Difficulty : 2 Medium
5) A company’s strategy has a chance of succeeding only when it is predicated on
A) building revenues, controlling costs, and generating an attractive profit.
B) actions, business approaches, and competitive moves aimed at appealing to buyers
and setting the company apart from rivals.
C) management’s concepts of “where we have been,” “where we are headed,” and
“where we need to go.”
D) the approval of a business model by a company’s board of directors that spells out
how to outcompete with rivals and make the company profitable.
E) educated choices that management has made regarding which financial and operating
plans to pursue.
Question Details
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Bloom's : Remember
Difficulty : 1 Easy
Learning Objective : 01-02 Explain why a company needs a creative, distinctive strategy that sets it
Topic : Strategy and the Strategic Management Process
6) Under Armour, a multinational sports apparel company, plans entry into a new
geographical location, Vietnam, considered an emerging market, with its established and best-
selling product line: women’s running shorts. How should Under Armour not craft a strategy to
enhance future profits in Vietnam?
Version 1 3
