BSG Midterm Exam 1 Questions with 100% Guaranteed Answers
A company's strategy - Answer-represents managerial commitment to undertake one set of
actions rather than another in an effort to compete successfully and achieve good
performance outcomes.
There are many routes to competitive advantage, but they all involve - Answer-providing
buyers with what they perceive as superior value compared to the offerings of rival sellers.
Which one of the following statements about whether a company's strategy can be
considered ethical is true? - Answer-just keeping a company's strategic actions within the
bounds of what is legal does not mean the strategy is ethical.
Among all the things managers do, nothing affects a company's ultimate success or failure
more fundamentally than - Answer-how well its management team charts the company's
direction, develops competitively effective strategic moves and business approaches, and
pursues what needs to be done internally to produce good day-in/day-out strategy execution
and operating excellence.
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 revenue sufficient to cover costs and
yield an attractive profit.
Which of the following is NOT one of the reasons that a company's strategy evolves over
time? - Answer-the need on the part of company managers to make regular strategy
adjustments so as to keep rivals off balance and always guessing about what moves it will
make next.
A company achieves competitive advantage when - Answer-it has some type of edge over
rivals in attracting buyers and coping with competitive forces.
, Which one of the following does NOT account for why a company's strategy evolves over
time, as shown in Figure 1.2 and explained in the accompanying text discussion? - Answer-
managerial preferences for keeping the life-cycle of any given strategy short.
In choosing among strategy alternatives, company managers - Answer-are well-advised to
embrace strategic actions that can pass the test of moral scrutiny -- it is not enough to just
stay within the bounds of what is legal and is in compliance with prevailing government
regulations.
A company's strategy evolves from one version to the next - Answer-as managers abandon
obsolete or ineffective strategy elements, settle upon a set of proactive strategy elements,
and then -- as new circumstances unfold -- make adaptive strategic adjustments, which gives
rise to reactive strategy elements.
According to Figure 1.1, which of the following is NOT something to look for in identifying a
company's strategy? - Answer-actions to strengthen the company's competitive position by
hiring one or more new top executives or laying off a portion of its work force or paying
down its long-term debt.
The two crucial elements of a company's business model are - Answer-its profit proposition
or "profit formula" and its customer value proposition.
Which one of the following questions can be used to distinguish a winning strategy from a
mediocre or losing strategy? - Answer-how well does the strategy fit the company's
situation?
A company's business model - Answer-sets forth how its strategy and operating approaches
will create value for customers while at the same time generating revenues sufficient to
cover costs and realize a profit.
A company's strategy is most accurately defined as - Answer-management's commitment to
pursue a particular set of actions in attracting and pleasing customers, competing
successfully, capitalizing on opportunities to grow the business, responding to changing
market conditions, conducting operations, and achieving the targeted financial and market
performance.
A company's strategy - Answer-represents managerial commitment to undertake one set of
actions rather than another in an effort to compete successfully and achieve good
performance outcomes.
There are many routes to competitive advantage, but they all involve - Answer-providing
buyers with what they perceive as superior value compared to the offerings of rival sellers.
Which one of the following statements about whether a company's strategy can be
considered ethical is true? - Answer-just keeping a company's strategic actions within the
bounds of what is legal does not mean the strategy is ethical.
Among all the things managers do, nothing affects a company's ultimate success or failure
more fundamentally than - Answer-how well its management team charts the company's
direction, develops competitively effective strategic moves and business approaches, and
pursues what needs to be done internally to produce good day-in/day-out strategy execution
and operating excellence.
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 revenue sufficient to cover costs and
yield an attractive profit.
Which of the following is NOT one of the reasons that a company's strategy evolves over
time? - Answer-the need on the part of company managers to make regular strategy
adjustments so as to keep rivals off balance and always guessing about what moves it will
make next.
A company achieves competitive advantage when - Answer-it has some type of edge over
rivals in attracting buyers and coping with competitive forces.
, Which one of the following does NOT account for why a company's strategy evolves over
time, as shown in Figure 1.2 and explained in the accompanying text discussion? - Answer-
managerial preferences for keeping the life-cycle of any given strategy short.
In choosing among strategy alternatives, company managers - Answer-are well-advised to
embrace strategic actions that can pass the test of moral scrutiny -- it is not enough to just
stay within the bounds of what is legal and is in compliance with prevailing government
regulations.
A company's strategy evolves from one version to the next - Answer-as managers abandon
obsolete or ineffective strategy elements, settle upon a set of proactive strategy elements,
and then -- as new circumstances unfold -- make adaptive strategic adjustments, which gives
rise to reactive strategy elements.
According to Figure 1.1, which of the following is NOT something to look for in identifying a
company's strategy? - Answer-actions to strengthen the company's competitive position by
hiring one or more new top executives or laying off a portion of its work force or paying
down its long-term debt.
The two crucial elements of a company's business model are - Answer-its profit proposition
or "profit formula" and its customer value proposition.
Which one of the following questions can be used to distinguish a winning strategy from a
mediocre or losing strategy? - Answer-how well does the strategy fit the company's
situation?
A company's business model - Answer-sets forth how its strategy and operating approaches
will create value for customers while at the same time generating revenues sufficient to
cover costs and realize a profit.
A company's strategy is most accurately defined as - Answer-management's commitment to
pursue a particular set of actions in attracting and pleasing customers, competing
successfully, capitalizing on opportunities to grow the business, responding to changing
market conditions, conducting operations, and achieving the targeted financial and market
performance.
