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Globus Chapter 1-5 quiz,test notes Questions and Answers 2023
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Globus Chapter 1-5 quiz,test notes
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Globus Chapter 1-5 quiz/test notesA company's strategy evolves from one strategy to the next because of - answer The
proactive efforts of company managers to improve this or that aspect of the strategy, a need to respond to changing customer requirements and expectations, and a need to react to the fresh strategic maneuvers of rival firms.
For a company's strategy to qualify as "ethical," it cannot entail - answer actions or behaviors that are deceitful, unfair or harmful to others, disreputable, or unreasonably damaging to the environment.
A company's strategy - answer .consists of the competitive moves and business approaches that managers employ to attract and please customers, compete successfully, capitalize on opportunities to grow the business, respond to changing market conditions, conduct operations, and achieve the targeted financial and market performance
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
attribute to the caliber of its strategy and the proficiency with which the strategy is executed.
A portion of a company's strategy is always developed on the fly because - answer managers must always be willing to supplement or modify various proactive strategy elements with as-needed reactions to unanticipated happenings in the surrounding environment.
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's business model - answer sets forth how its strategy and operating (business) approaches will create value for customers while at the same time generating ample revenues to cover costs and realize a 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 despite the efforts of competitors to nullify or overcome the appeal of its product offering. 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?
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 difference between a company's business model and a company's strategy is that -
answer 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 for shareholders while its strategy concerns the specific market positioning competitive moves, and business approaches that management intends to employ to run the company and produce good business results.
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.
What makes a competitive advantage sustainable or durable as opposed to temporary is - answer actions or elements in the strategy that cause an attractive number of buyers to have lasting reasons to purchase a company's products or services, despite competitors' best efforts to nullify or overcome those reasons.
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.
The two crucial elements of a company's business model are - answer its customer value proposition and its profit proposition or "profit formula."
Which one of the following questions is not something that company managers should consider in charting a company's future direction are shown in Table 2.1? - answer Do we have a better business model than key rivals?
A company's value relate to such things as - answer fair treatment, honor and integrity, ethical behavior, innovativeness, teamwork, accountability, a passion fo top-
notch quality or superior customer service, social responsibility, and community citizenship.
In a diversified or multi-business company, the strategy-making hierarchy (as shown in Figure 2-2) consist of - answer corporate strategy, a business strategy for each
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