BUSN 495 CH 1 TEST QUESTIONS AND ANSWERS ALREADY PASSED GRADED A+
Which of the following statements about a company's strategy is true? - AnswersStrategy at its essence
is about competing differently — doing what rival firms do not do or cannot do.
A company's business model sets forth how its strategy and operating approaches _____________ -
Answerswill create value for customers and realize a profit.
Which one of the following is not related to actions and approaches that comprise a company's
strategy? - AnswersProving to shareholders that the company's business model is viable.
In answering the question, "How well does the strategy fit the company's situation?" management must
have deliberate plans for addressing such issues as __________________ - Answerschanging market
conditions, development of internal capabilities and competencies, and allocation of financial resources.
Which of the following is not an element of a company's business strategy? - AnswersAdhering to
abandoned strategy elements.
Which of the following is not one of the most frequently used strategic approaches to building
competitive advantage? - AnswersSticking with an outdated business model
The heart and soul of any strategy _______________ - Answersis the actions and moves to gain a
competitive edge over rivals in the marketplace
Strategies that yield sustainable competitive advantage are important because __________ -
Answersthese enable a company to attract sufficiently large numbers of buyers who have a lasting
preference for its products or services over those offered by rivals, despite the efforts of competitors to
offset that appeal and overcome the company's advantage.
A company achieves sustainable competitive advantage when ________________ - Answersan
attractively large number of buyers develop a durable preference for its products or services over the
offerings of competitors, despite the efforts of competitors to overcome or erode its advantage.
A strategy that distinguishes a company from its rivals and provides a sustainable competitive advantage
________________ - Answersis a company's most reliable ticket to above-average profitability.
Approaches to achieving a sustainable competitive advantage include which of the following? -
AnswersA) Developing unmatched resource strengths and competitive capabilities.
B) Focusing on a narrow market niche within an industry.
C) Strategies supportive of creating a differentiation-based advantage.
D) Strategies supportive of creating a cost-based advantage.
Which of the following statements about a company's strategy is true? - AnswersStrategy at its essence
is about competing differently — doing what rival firms do not do or cannot do.
A company's business model sets forth how its strategy and operating approaches _____________ -
Answerswill create value for customers and realize a profit.
Which one of the following is not related to actions and approaches that comprise a company's
strategy? - AnswersProving to shareholders that the company's business model is viable.
In answering the question, "How well does the strategy fit the company's situation?" management must
have deliberate plans for addressing such issues as __________________ - Answerschanging market
conditions, development of internal capabilities and competencies, and allocation of financial resources.
Which of the following is not an element of a company's business strategy? - AnswersAdhering to
abandoned strategy elements.
Which of the following is not one of the most frequently used strategic approaches to building
competitive advantage? - AnswersSticking with an outdated business model
The heart and soul of any strategy _______________ - Answersis the actions and moves to gain a
competitive edge over rivals in the marketplace
Strategies that yield sustainable competitive advantage are important because __________ -
Answersthese enable a company to attract sufficiently large numbers of buyers who have a lasting
preference for its products or services over those offered by rivals, despite the efforts of competitors to
offset that appeal and overcome the company's advantage.
A company achieves sustainable competitive advantage when ________________ - Answersan
attractively large number of buyers develop a durable preference for its products or services over the
offerings of competitors, despite the efforts of competitors to overcome or erode its advantage.
A strategy that distinguishes a company from its rivals and provides a sustainable competitive advantage
________________ - Answersis a company's most reliable ticket to above-average profitability.
Approaches to achieving a sustainable competitive advantage include which of the following? -
AnswersA) Developing unmatched resource strengths and competitive capabilities.
B) Focusing on a narrow market niche within an industry.
C) Strategies supportive of creating a differentiation-based advantage.
D) Strategies supportive of creating a cost-based advantage.
