strategic management concepts and cases competitiv
test bank
Written for
Strategic Management
Strategic Management
Strategic Management
All documents for this subject (327)
Seller
Follow
evileye251
Reviews received
Content preview
,True / False
1. Strategic competitiveness is achieved when a firm successfully formulates and implements a value-creating
strategy.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 4
LEARNING OBJECTIVES: STMA.HITT.15.01.01 - 01.01
NATIONAL STANDARDS: United States - BUSPROG Reflective
STATE STANDARDS: United States - AK - DISC: Strategy
KEYWORDS: Bloom's: Knowledge
NOTES: AACSB: Analytic | DISC: Strategy | Bloom: Knowledge
2. Alligator Enterprises has earned above-average returns since its founding five years ago. Since no other firm has
challenged Alligator in its particular market niche, the firm's owners can feel secure that Alligator has established a
competitive advantage.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Hard
REFERENCES: 5
LEARNING OBJECTIVES: STMA.HITT.13. - 1.4
NATIONAL STANDARDS: United States - BUSPROG Reflective
STATE STANDARDS: United States - AK - DISC: Strategy
KEYWORDS: Bloom's: Application
NOTES: AACSB: Analytic | DISC: Strategy | Bloom: Application
3. The goal of strategic management is to develop a competitive advantage that is permanent.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Medium
REFERENCES: 5
LEARNING OBJECTIVES: STMA.HITT.13. - 1.4
NATIONAL STANDARDS: United States - BUSPROG Reflective
STATE STANDARDS: United States - AK - DISC: Strategy
KEYWORDS: Bloom's: Knowledge
NOTES: AACSB: Reflective Thinking | DISC: Strategy | Bloom: Comprehension
,4. Risk in terms of financial returns reflects an investor's uncertainty about economic gains or losses that will result
from a particular investment.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 5
LEARNING OBJECTIVES: STMA.HITT.13. - 1.4
NATIONAL STANDARDS: United States - BUSPROG Reflective
STATE STANDARDS: United States - AK - DISC: Strategy
KEYWORDS: Bloom's: Knowledge
NOTES: AACSB: Analytic | DISC: Strategy | Bloom: Knowledge
5. Average returns are returns in excess of what an investor expects to earn from other investments with a similar
amount of risk.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Medium
REFERENCES: 5
LEARNING OBJECTIVES: STMA.HITT.13. - 1.4
NATIONAL STANDARDS: United States - BUSPROG Reflective
STATE STANDARDS: United States - AK - DISC: Strategy
KEYWORDS: Bloom's: Knowledge
NOTES: AACSB: Analytic | DISC: Strategy | Bloom: Knowledge
6. Returns can only be measured in accounting terms such as return on assets, return on equity, or return on sales.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 5
LEARNING OBJECTIVES: STMA.HITT.13. - 1.4
NATIONAL STANDARDS: United States - BUSPROG Reflective
STATE STANDARDS: United States - AK - DISC: Strategy
KEYWORDS: Bloom's: Knowledge
NOTES: AACSB: Analytic | DISC: Strategy | Bloom: Knowledge
, 7. Economies of scale and huge advertising budgets are just as effective in the new competitive landscape as they
were in the past, but they must be reinforced by strategic flexibility.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Hard
REFERENCES: 7
LEARNING OBJECTIVES: STMA.HITT.13. - 1.4
NATIONAL STANDARDS: United States - BUSPROG Reflective
STATE STANDARDS: United States - AK - DISC: Strategy
KEYWORDS: Bloom's: Knowledge
NOTES: AACSB: Analytic | DISC: Strategy | Bloom: Knowledge
8. The two primary drivers of hypercompetition are the emergence of the global economy and technology.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 8
LEARNING OBJECTIVES: STMA.HITT.13. - 1.4
NATIONAL STANDARDS: United States - BUSPROG Technology
STATE STANDARDS: United States - AK - DISC: Strategy
KEYWORDS: Bloom's: Knowledge
NOTES: AACSB: Analytic | DISC: Strategy | Bloom: Knowledge
9. The rate of technology diffusion has been steadily increasing over the last two decades.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 11
LEARNING OBJECTIVES: STMA.HITT.13. - 1.4
NATIONAL STANDARDS: United States - BUSPROG Technology
STATE STANDARDS: United States - NJ - DISC: - Information Technologies
United States - AK - DISC: Motivation Concepts - Motivation Concepts
KEYWORDS: Bloom's: Knowledge
NOTES: AACSB: Technology | DISC: Information Technologies | Bloom: Knowledge
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller evileye251. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $26.87. You're not tied to anything after your purchase.
