A) left unchanged from management's original planned set of actions and business approaches since making on-the-spot changes is too risky.
B) a combination of defensive moves to protect the company's market share and offensive initiatives to set the company's product offering apart from its rivals.
C) like the strategies of other industry members since all companies are confronting much the same market conditions and competitive pressures.
D) a blend of deliberate planned actions to improve the company's competitiveness and financial performance and as-needed unplanned reactions to unanticipated developments and fresh market conditions.
E) a mirror image of its business model,so as to avoid impairing company profitability.
G) C) and D)
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A) Does the strategy contain a sufficient number of emergent and/or reactive elements?
B) Is the company putting too little emphasis on growth and profitability and too much emphasis on behaving in an ethical and socially responsible manner?
C) Is the strategy built on a company's weakness,or does it require resources that are deficient in the company?
D) Is the strategy well matched to the company's situation,helping the company achieve a sustainable competitive advantage and resulting in better company performance?
E) Does the strategy strike a good balance between maximizing shareholder wealth and maximizing customer satisfaction?
G) A) and D)
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The three questions to distinguish a win...View Answer
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Yes,because a sustainable competitive ad...View Answer
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While the company's strategy sets forth ...View Answer
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A) developing lasting success that can support growth and secure the company's future over the long term.
B) recreating a business model with regularity.
C) matching rival businesses' products and quality dimensions in the marketplace.
D) building profits for short-term success.
E) realigning the market to provoke change in rival companies.
G) C) and D)
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Among all the things managers do,nothing...View Answer
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A strategy should be tailored to the com...View Answer
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A) initiate new initiatives even though they do not seem to match the company's internal and external situation.
B) scrutinize the company's existing strategies on a regular basis to ensure they offer a good strategic fit,create a competitive advantage,and result in above-average performance.
C) evaluate the firm's business model at least every three years.
D) ensure core capabilities are incorporated for establishing a competitive advantage.
E) align existing strategies with new strategies to emphasize incremental gains.
G) A) and B)
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A) Management's choices about how to attract and please customers
B) Management's choices about how quickly and closely to copy the strategies being used by successful rival companies
C) Management's choices about how to grow the business
D) Management's choices about how to outcompete rivals
E) Management's action plan for conducting operations and improving the company's strategic and financial performance
G) B) and E)
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A) A local hardware store offers a ten-percent discount for seniors on the first Wednesday of every month.
B) An online book reseller diversifies into custom book publishing.
C) An oil-change franchisor continues geographical expansion despite a recession.
D) A health food manufacturer integrates forward into drive-through health food restaurants.
E) A microbrewer invests in building community water wells during a drought.
G) A) and E)
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A) mission statement and its SWOT analysis.
B) customer value proposition and its vision statement.
C) operating and financial plans.
D) profit formula and strategic vision.
E) profit formula and customer value proposition.
G) C) and D)
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A) building revenues,controlling costs,and generating an attractive profit.
B) actions,business approaches,and competitive moves aimed at appealing to buyers and setting the company apart from rivals.
C) management's concepts of "where we have been," "where we are headed," and "where we need to go."
D) the approval of a business model by a company's board of directors that spells out how to outcompete its rivals and make the company profitable.
E) educated choices that management has made regarding which financial and operating plans to pursue.
G) A) and D)
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A) A best-cost provider strategy
B) A low-cost provider strategy
C) A focused low-cost provider strategy
D) A broad differentiation strategy
E) A focused differentiation strategy
G) A) and B)
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A) True-cost
B) Low-cost
C) Focused low-cost
D) Best-cost
E) Broad differentiation
G) B) and E)
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A) evaluate the firm's business model at least every three years.
B) align existing strategies with new strategies to emphasize incremental gains.
C) scrutinize the company's existing strategies on a regular basis to ensure they offer a good strategic fit,create a competitive advantage,and contribute to an above-average performance.
D) plan and implement new initiatives regardless of whether or not these match the company's internal and external situation.
E) ensure core capabilities are incorporated for establishing a competitive advantage.
G) A) and B)
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The heart and soul of any strategy consi...View Answer
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A) Striving to be the industry's low-cost provider,thereby aiming for a cost-based competitive advantage
B) Outcompeting rivals on the basis of such differentiating features as higher quality,wider product selection,added performance,better service,more attractive styling,or technological superiority
C) Pursuing a best-cost strategy,giving customers more value for the money by satisfying buyers' expectations on key quality/features/performance/service attributes,while beating their price expectations
D) Focusing on a narrow market niche and winning a competitive edge by doing a better job than rivals of serving the special needs and tastes of buyers comprising the niche
E) Copying rivals on their competitive moves
G) None of the above
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A) Actions to respond to changing market conditions or other external factors
B) Actions to strengthen competitiveness via strategic alliances and collaborative partnerships
C) Actions to strengthen internal capabilities and competitively valuable resources
D) Actions to manage the functional areas of the business
E) Actions to revise the company's financial and strategic performance targets
G) A) and D)
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A) blending deliberate,planned initiatives with emergent,unplanned reactive responses to changing circumstances,while abandoning planned strategy elements that have failed in the marketplace.
B) developing a five-year strategic plan and then fine-tuning it during the remainder of the plan period.
C) trying to imitate as much of the market leader's strategy as possible so as not to end up at a competitive disadvantage.
D) doing everything possible (in the way of price,quality,service,warranties,advertising,and so on) to make sure the company's product and/or service is very clearly differentiated from the product and or service offerings of its rivals.
E) All of these accurately characterize the managerial process of crafting a company's strategy.
G) A) and B)
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