Essentials of Strategic Management Test Bank – Competitive Advantage & Strategy ( Edition)

EssentialsVofVstrategicVmanagementVTestbankVTheVquestVforVcompetitiveVLatestV2025V2026




ManagersVinVallVtypesVofVbusinessesVmustadevelopVaVclearVanswerVforVwhichVofVtheVfollowingVquestions?


WhereaareVweVnow?

WhereVdoVweawantVtoagoVfromVhere?

WhatVisVtheVsetVofVactionsVthatVweVneedVtoVtakeatoVoutperformVtheVcompany’sVcompetitorsVandVac
hieveasupVeriorVprofitability?

WhenawillVweaknowVweaareathere?

WhatVmovesVandVapproachesVdoVweVneedVtoVgainaadvantageVinVtheVmarketplace?


AVcompany’sVstrategyVisVtheVsetVofVactionsVthatVitsVmanagersaneedVtoVtakeVtoVoutperformVtheVcompany’
sVcompetitVorsVandVachieveVsuperiorVprofitability.

, 10.00V point
2. Award:
s




AVcompany’sVstrategyVconsistsaof


actionsVtoVdevelopVaVmoreVappealingVbusinessamodelVthanVrivals.

plansainvolvingValignmentVofVorganizationalVactivitiesVandVstrategicVobjectives.

offensiveVandVdefensiveVmovesVtoVgenerateVrevenuesaandVincreaseaprofitVmargins.

competitiveVmovesVandVapproachesVthatVmanagersVhaveVdevelopedVtoVgrowVtheVbusiness,VattractVa
ndVpleasVeacustomers,Vconductaoperations,VandaachieveVtargetedaobjectives.

itsVstrategicVvision,aitsVstrategicaobjectives,VandaitsVstrategicVintent.


AVstrategyVstandsaaachanceVofVsucceedingVonlyVwhenVitVisVpredicatedVonaactions,VbusinessVapproaches,Va
ndacomVpetitiveVmovesVaimedVatVappealingatoVbuyersVinVwaysVthatVsetVaVcompanyVapartVfromVrivals.

, 10.00V point
3. Award:
s

TheVcompetitiveamovesVandVbusinessVapproachesVaVcompany’sVmanagementVisausingatoVgrowVtheVbusin
ess,VcomVpeteVsuccessfully,VattractVandVpleaseVcustomers,aconductVoperations,VrespondVtoachangingVeco
nomicVandVmarkeVtVconditions,VandVachieveVorganizationalVobjectivesVisVreferredVtoVas
its


strategy.

movesVtoVimitateakeyVrivals.

strategicVmission.

businessVmodel.

strategicVvision.


AVstrategyVisVpredicatedVonVactions,Vbusinessaapproaches,VandVcompetitiveVmovesVaimedVatVappealing
VtoabuyersVinVwaysVthatasetaaVcompanyVapartVfromVrivals.VSimplyVtryingVtoVmimicVtheastrategiesVofVthe
aindustry’sVsuccessfulVcompaniesVneveraworks.




TheVessenceVofVstrategyVis


developingalastingVsuccessVthatacanVsupportVgrowthVandVsecureVtheacompany’sVfutureVoverVtheVlongV
term.

, 10.00V point
4. Award:
s

re-creatingVaVbusinessamodelVwithVregularity.

matchingarivalVbusinesses’VproductsVandVqualityVdimensionsVinVtheVmarketplace.

buildingaprofitsVforVshort-termasuccess.

realigningVtheVmarketVtoVprovokeVchangeVinVrivalVcompanies.


StrategyVatVitsVessenceVisVaboutVsettingVaVcompanyVapartVfromVitsVrivalsVandVstakingaoutVaVmarketapo
sitionathataisVnotVcrowdedawithVstrongVcompetitors.VAVcompanyVaimsVatadoingVwhatarivalsVcannotVorV
don’tado.