Test Bank – Essentials of Strategic Management: The
Quest for Competitive Advantage |
Chapter 1
Managers in all types of businesses must develop a clear answer for which of the following questions?
Where are we now?
Where do we want to go from here?
What is the set of actions that we need to take to outperform the company’s competitors and achieve
superior profitability?
When will we know we are there?
What moves and approaches do we need to gain advantage in the marketplace?
A company’s strategy is the set of actions that its managers need to take to outperform the company’s
competitors and achieve superior profitability.
,2. Award: 10.00 po ints
A company’s strategy consists of
actions to develop a more appealing business model than rivals.
plans involving alignment of organizational activities and strategic objectives.
offensive and defensive moves to generate revenues and increase profit margins.
competitive moves and approaches that managers have developed to grow the business, attract and
please customers, conduct operations, and achieve targeted objectives.
its strategic vision, its strategic objectives, and its strategic intent.
A strategy stands a chance of succeeding only when it is predicated on actions, business approaches, and
competitive moves aimed at appealing to buyers in ways that set a company apart from rivals.
,3. Award: 10.00 po ints
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
strategy.
moves to imitate key rivals.
strategic mission.
business model.
strategic vision.
A strategy is predicated on actions, business approaches, and competitive moves aimed at appealing to
buyers in ways that set a company apart from rivals. Simply trying to mimic the strategies of the industry’s
successful companies never works.
The essence of strategy is
, 4. Award: 10.00 po ints
developing lasting success that can support growth and secure the company’s future over the long
term.
re-creating a business model with regularity.
matching rival businesses’ products and quality dimensions in the marketplace.
building profits for short-term success.
realigning the market to provoke change in rival companies.
Strategy at its essence is about setting a company apart from its rivals and staking out a market position
that is not crowded with strong competitors. A company aims at doing what rivals cannot or don’t do.
Quest for Competitive Advantage |
Chapter 1
Managers in all types of businesses must develop a clear answer for which of the following questions?
Where are we now?
Where do we want to go from here?
What is the set of actions that we need to take to outperform the company’s competitors and achieve
superior profitability?
When will we know we are there?
What moves and approaches do we need to gain advantage in the marketplace?
A company’s strategy is the set of actions that its managers need to take to outperform the company’s
competitors and achieve superior profitability.
,2. Award: 10.00 po ints
A company’s strategy consists of
actions to develop a more appealing business model than rivals.
plans involving alignment of organizational activities and strategic objectives.
offensive and defensive moves to generate revenues and increase profit margins.
competitive moves and approaches that managers have developed to grow the business, attract and
please customers, conduct operations, and achieve targeted objectives.
its strategic vision, its strategic objectives, and its strategic intent.
A strategy stands a chance of succeeding only when it is predicated on actions, business approaches, and
competitive moves aimed at appealing to buyers in ways that set a company apart from rivals.
,3. Award: 10.00 po ints
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
strategy.
moves to imitate key rivals.
strategic mission.
business model.
strategic vision.
A strategy is predicated on actions, business approaches, and competitive moves aimed at appealing to
buyers in ways that set a company apart from rivals. Simply trying to mimic the strategies of the industry’s
successful companies never works.
The essence of strategy is
, 4. Award: 10.00 po ints
developing lasting success that can support growth and secure the company’s future over the long
term.
re-creating a business model with regularity.
matching rival businesses’ products and quality dimensions in the marketplace.
building profits for short-term success.
realigning the market to provoke change in rival companies.
Strategy at its essence is about setting a company apart from its rivals and staking out a market position
that is not crowded with strong competitors. A company aims at doing what rivals cannot or don’t do.
