Test bank for crafting and executing strategy quest for competitive advantage concepts and cases 23rd edition thompson

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itive Advantage Concepts and Cases 23rd Edition Thompson
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Crafting and Executing Strategy Quest for Competitive
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Advantage Concepts and Cases 23rd Edition by ThompsonCH01
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ANSWERS ARE LOCATED IN THE SECOND PART OF THIS DOCUMENT
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MULTIPLEmCHOICEm-
mChoosemthemonemalternativemthatmbestmcompletesmthemstatementmorm answersmthemquestion
.
1) Managersmofmallmtypesmofmbusinessmorganizationsmmustmdevelopmamclearmanswermformwhich
mofm
themfollowingmquestions?
1)mm


A) Whatmapproachesmdomwemneedmtomtakeminmordermtomgainmamcompetitivemadvantageminm
themmarketplace?
B) Whatmismthemsetmofmactionsmthatmwemneedmtomtakemtomoutperformmcompetitorsmandmachi
evemsuperiormprofitability?
C) Wheremaremwemnow?
D) Wheremdomwemgomfrommhere?
E) Whenmwillmwemknowmthatmwemaremthere?



QuestionmDetails
Difficultym:m1mEasy
Topicm:mStrategymandmthemStrategicmManagementmProcess
LearningmObjectivem:m01-
01mUnderstandmwhatmismmeantmbymamcompany’smstrategymandmwhymitmneedsmtomdiffemBloom'sm:mRemem
ber
AACSBm:mKnowledgemApplicationm
Accessibilitym:mKeyboardmNavigatio
nmGradablem:mautomatic



2) Sanofi,mampharmaceuticalmcompanymsellingmprescriptionmdrugsminmFrancemformthempastm10m
years,mhasmhadmmoderatemsalesminmamcrowdedmmarketmwhilemitsmrivalsmmanufacturemandmmarketmdr
ugsmhavingmsimilarmefficacymandmsafetymprecautions,mbutmwithmsuperiormmarketmshare.mThismparticu
larmpharmaceuticalmcompany'smgreatestmchallengemismtomincreasemprescriptionsmofmtheirmdrugsmbymF
renchmdoctors.mWhatmwouldmbemthemmostmeffectivemstrategymformSanofimtomimprovemsalesmperforma
nceminmitsmexistingmmarket?
2)mm




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itive Advantage Concepts and Cases 23rd Edition Thompson
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Crafting and Executing Strategy Quest for Competitive
m m m m m m



Advantage Concepts and Cases 23rd Edition by ThompsonCH01
m m m m m m m m




A) modifyingmmarketingmcommunicationmtomincreasembrandmfamiliaritymwithinmk
eymphysicianmsegments
B) relocatingmallmthemexistingmdrugmmanufacturingmfacilitiesmtomdevelopingmcountriesm
tomreducemoperationalmcosts
C) employingmhiringmplansmthatmaimmatmacquiringmdrugmdesignersmfrommrivalmcompanies
D) exitingmthemmarketmandmenteringmamnewmunexploredmgeographicalmlocation
E) engagingminmnewmcontractmtalksmwithmsuppliersmaboutmpricembreaks



QuestionmDetails
Topicm:mStrategymandmthemStrategicmManagementmProcess
LearningmObjectivem:m01-
01mUnderstandmwhatmismmeantmbymamcompany’smstrategymandmwhymitmneedsmtomdiffemAccessibilitym:mKe
yboardmNavigation
Difficultym:m3mHar
dmBloom'sm:mApply
AACSBm:mAnalyticalmThinkin
gmGradablem:mautomatic



3) YoumhavembeenmhiredmasmamconsultantmbymSandCloud,mamventure-
backedmestablishedmcompanyminmthembeachwearmandmtowelingmmarkets.mSandCloud’smownersmar
emweighingmamdecisionmtomdonatemampartmofmitsmprofitsmtomamchildren'smcharitymtomimprovemitsmmar
ketmimage.mYourmadvicemtomSandCloudmregardingmstrategymismthatmitmwillmconsistmofmthemactionmpl
anmmanagementmtakesmto
3)mm


A) developmammoremappealingmbusinessmmodelmthanmrivalmbeachwearmandmtoweli
ngmcompanies.
B) competemagainstmrivalsminmthembeachwearmandmtowelingmindustrymandmestablis
hmamtransitorymcompetitivemadvantage.
C) concentratemonmimprovingmitsmexistingmproductmofferingmirrespectivemofmitsmdecisionm
tomdonatemampercentagemofmitsmprofitsmtomamchildren’smcharity.
D) stakemoutmamuniquemmarketmpositionminmbeachwearmandmtowelingmmarketsmandmachie
vemsuperiormprofitability.
E) identifymitsmstrategicmvision,mitsmstrategicmobjectives,mandmitsmstrategicmintent.




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itive Advantage Concepts and Cases 23rd Edition Thompson
m m m m m m m


Crafting and Executing Strategy Quest for Competitive
m m m m m m



Advantage Concepts and Cases 23rd Edition by ThompsonCH01
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QuestionmDetails
Topicm:mStrategymandmthemStrategicmManagementmProcess
LearningmObjectivem:m01-
01mUnderstandmwhatmismmeantmbymamcompany’smstrategymandmwhymitmneedsmtomdiffemAACSBm:mKnowle
dgemApplication
Accessibilitym:mKeyboardmNavigatio
nmBloom'sm:mApply
Difficultym:m2mMediu
mmGradablem:mautomat
ic



4) Keurig,mthemcoffeemmachinemmanufacturer,msellsmhigh-
qualitymespressommachinesmatmamverymlowmpricemandmalsomprovidesmlow-
costmrefillsmofmvarietalmcoffeempodsmatmamrelativelymhighermpricemthanmrivals.mThemactionmstepsmth
atmKeurig’smmanagersmtakemtomoutperformmthemcompany'smcompetitorsmandmachievemsuperiormpro
fitabilitymaremknownmasmits
4)mm


A) strategy.
B) missionmstatement.
C) strategicmintent.
D) value-cost-pricemframework.
E) marketmvisioningmstatement.



QuestionmDetails
Topicm:mStrategymandmthemStrategicmManagementmProcess
LearningmObjectivem:m01-
01mUnderstandmwhatmismmeantmbymamcompany’smstrategymandmwhymitmneedsmtomdiffemBloom'sm:mRemem
ber
AACSBm:mKnowledgemApplicationm
Accessibilitym:mKeyboardmNavigatio
nmDifficultym:m2mMedium
Gradablem:mautomatic



5) Strategy,matmitsmessence,mismabout
5)mm


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, DOWNLOAD THE Test Bank for Crafting and Executing Strategy Quest forCompet
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itive Advantage Concepts and Cases 23rd Edition Thompson
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Crafting and Executing Strategy Quest for Competitive
m m m m m m



Advantage Concepts and Cases 23rd Edition by ThompsonCH01
m m m m m m m m




A) matchingmrivalmbusinesses'mproductsmandmqualitymdimensionsminmthemmarketplace.
B) buildingmprofitsmformshort-termmsuccess.
C) realigningmthemmarketmtomprovokemchangeminmrivalmcompanies.
D) developingmlastingmsuccessmthatmcanmsupportmgrowthmandmsecuremthemcompany'smfutu
removermthemlongmterm.
E) re-creatingmambusinessmmodelmwithmregularity.



QuestionmDetails
Topicm:mStrategymandmthemStrategicmManagementmProcess
LearningmObjectivem:m01-
01mUnderstandmwhatmismmeantmbymamcompany’smstrategymandmwhymitmneedsmtomdiffemAccessibilitym:mKe
yboardmNavigation
AACSBm:mAnalyticalmThinkin
gmDifficultym:m2mMediummBlo
om'sm:mUnderstandmGradablem
:mautomatic



6) Tomimprovemperformance,mtheremaremmanymdifferentmavenuesmformoutcompetingmrivals,msu
chmas
6)mm


A) realizingmamhighermcostmstructuremandmlowermoperatingmprofitmmarginsmthanmrivals
minm
ordermtomdrivemsalesmgrowth.
B) creatingmproductsmanalogousmwithmcompetitorsmsomasmtombemcompetitiveminmthemsa
memmarkets.
C) pursuingmsimilarmpersonalizedmcustomermservicemormqualitymdimensionsmasmrivals.
D) beingmundecidedmwhethermtomconcentratemoperationsmonmlocalmormglobalmmarkets.
E) strengtheningmcompetitivenessmbympursuingmstrategicmalliancesmandmcollaborati
vempartnerships.




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