The difference between a company's strategy and a company's business model is that - ANSWER
Its strategy is defined by the specific market positioning, competitive moves, and business
approaches management employs to try to produce good business results while its business
model relates to management's blueprint for delivering a valuable product or service to
customers in a manner that will generate revenues sufficient to cover costs and yield an
attractive profit.
A winning strategy is one that - ANSWER fits the company's internal and external situation,
improves company performance, and helps achieve sustainable competitive advantage.
Typically, a company's strategy is - ANSWER a blend of (1) proactive actions to improve the
company's financial performance and secure a competitive edge and (2) as-needed reactions to
unanticipated developments and fresh market conditions
A company's business model - ANSWER is managements blueprint for delivering a valuable
product or service to customers in a manner that will generate revenue sufficient to cover costs
and yield an attractive profit
A company achieves sustainable competitive advantage when - ANSWER an attractive number
of buyers are drawn to purchase its products or services rather than those of competitors and
when the basis for the preference is durable, despite the efforts of competitors to nullify or
overcome the appeal of its product offering.
What makes a competitive advantage sustainable or durable as opposed to temporary -
ANSWER are actions or elements in a company's strategy that cause an attractive number of
buyers to have lasting reasons to purchase the company's products or services, despite
competitor's best efforts to nullify or overcome those reasons
,In choosing among strategy alternatives, company managers - ANSWER are well advised to
embrace actions strategic actions that can pass the test of moral scrutiny-- it is not enough to
just stay within the boards of what is legal and is in compliance with prevailing government
regulations
Two crucial elements of a company's business model are - ANSWER its profit proposition or
"profit formula" and its customer value proposition
Which of the following is not something a company's strategy is concerned with? - ANSWER
Management's choice of which of several alternative business models to employ in delivering
value to customers and to shareholders
The reputational and financial damage that unethical strategies and behavior can do to a
company - ANSWER is substantial; consequently, there are good business reason for a company
and its personnel to avoid unethical strategic actions and behaviors
According to Figure 1.1, which of the following is not something to look for in identifying a
company's strategy? - ANSWER Actions to boost the company's earnings per share and stock
price
Changing circumstances and ongoing managerial efforts to improve the strategy - ANSWER
account for why a company's strategy evolves over time and why the task of crafting a
company's strategy is a work in progress, not a one-time event.
The competitive moves and business approaches a company's management is using to attract
and please customers, compete successfully, grow the business, respond to changing market
conditions, conduct operations, and achieve the targeted financial and market performance is
what defines a company's - ANSWER strategy
, Crafting and executing strategy are top-priority managerial tasks because - ANSWER how well a
company performs and the degree of market success it achieves are directly, attributable to the
caliber of its strategy and the proficiency with which the strategy is executed
Which of the following statements about a company's strategy is false - ANSWER A company's
strategy is deliberately kept under wraps by top-level managers so as to catch rival companies
The task of stitching together a strategy - ANSWER entails addressing a series of hows: how to
attract and please customers, how to compete against rivals, how to position the company in
the marketplace vis-avis rivals, how best to pursue attractive opportunities to grow the
business, how best to respond to changing economic and market conditions, how to manage
each functional piece of the business, and how to achieve the company's strategic and financial
objectives
The obligations of an investor-owned company's board of directors in the strategy-making,
strategy-executing process include - ANSWER overseeing the company's financial accounting
and financial reporting practices and instituting a compensation plan for top executives
A company's values, or core values, concern - ANSWER the beliefs, traits, and behavioral norms
that company personnel are expected to display in conducting the company's business and
pursuing its strategic vision and mission
Managerial jobs with strategy-making responsibility - ANSWER exist at many levels of the
organizational structure of a large corporation when its operations cut across different products,
industries, and geographical areas
Operating strategies concern - ANSWER the relatively narrow strategic initiatives and
approaches for managing key operating units (plants, distribution centers, geographic units) and
specific operating activities with strategic significance (quality control, advertising, brand-
building efforts, supply chain-related activities, and website operations)
Its strategy is defined by the specific market positioning, competitive moves, and business
approaches management employs to try to produce good business results while its business
model relates to management's blueprint for delivering a valuable product or service to
customers in a manner that will generate revenues sufficient to cover costs and yield an
attractive profit.
A winning strategy is one that - ANSWER fits the company's internal and external situation,
improves company performance, and helps achieve sustainable competitive advantage.
Typically, a company's strategy is - ANSWER a blend of (1) proactive actions to improve the
company's financial performance and secure a competitive edge and (2) as-needed reactions to
unanticipated developments and fresh market conditions
A company's business model - ANSWER is managements blueprint for delivering a valuable
product or service to customers in a manner that will generate revenue sufficient to cover costs
and yield an attractive profit
A company achieves sustainable competitive advantage when - ANSWER an attractive number
of buyers are drawn to purchase its products or services rather than those of competitors and
when the basis for the preference is durable, despite the efforts of competitors to nullify or
overcome the appeal of its product offering.
What makes a competitive advantage sustainable or durable as opposed to temporary -
ANSWER are actions or elements in a company's strategy that cause an attractive number of
buyers to have lasting reasons to purchase the company's products or services, despite
competitor's best efforts to nullify or overcome those reasons
,In choosing among strategy alternatives, company managers - ANSWER are well advised to
embrace actions strategic actions that can pass the test of moral scrutiny-- it is not enough to
just stay within the boards of what is legal and is in compliance with prevailing government
regulations
Two crucial elements of a company's business model are - ANSWER its profit proposition or
"profit formula" and its customer value proposition
Which of the following is not something a company's strategy is concerned with? - ANSWER
Management's choice of which of several alternative business models to employ in delivering
value to customers and to shareholders
The reputational and financial damage that unethical strategies and behavior can do to a
company - ANSWER is substantial; consequently, there are good business reason for a company
and its personnel to avoid unethical strategic actions and behaviors
According to Figure 1.1, which of the following is not something to look for in identifying a
company's strategy? - ANSWER Actions to boost the company's earnings per share and stock
price
Changing circumstances and ongoing managerial efforts to improve the strategy - ANSWER
account for why a company's strategy evolves over time and why the task of crafting a
company's strategy is a work in progress, not a one-time event.
The competitive moves and business approaches a company's management is using to attract
and please customers, compete successfully, grow the business, respond to changing market
conditions, conduct operations, and achieve the targeted financial and market performance is
what defines a company's - ANSWER strategy
, Crafting and executing strategy are top-priority managerial tasks because - ANSWER how well a
company performs and the degree of market success it achieves are directly, attributable to the
caliber of its strategy and the proficiency with which the strategy is executed
Which of the following statements about a company's strategy is false - ANSWER A company's
strategy is deliberately kept under wraps by top-level managers so as to catch rival companies
The task of stitching together a strategy - ANSWER entails addressing a series of hows: how to
attract and please customers, how to compete against rivals, how to position the company in
the marketplace vis-avis rivals, how best to pursue attractive opportunities to grow the
business, how best to respond to changing economic and market conditions, how to manage
each functional piece of the business, and how to achieve the company's strategic and financial
objectives
The obligations of an investor-owned company's board of directors in the strategy-making,
strategy-executing process include - ANSWER overseeing the company's financial accounting
and financial reporting practices and instituting a compensation plan for top executives
A company's values, or core values, concern - ANSWER the beliefs, traits, and behavioral norms
that company personnel are expected to display in conducting the company's business and
pursuing its strategic vision and mission
Managerial jobs with strategy-making responsibility - ANSWER exist at many levels of the
organizational structure of a large corporation when its operations cut across different products,
industries, and geographical areas
Operating strategies concern - ANSWER the relatively narrow strategic initiatives and
approaches for managing key operating units (plants, distribution centers, geographic units) and
specific operating activities with strategic significance (quality control, advertising, brand-
building efforts, supply chain-related activities, and website operations)
