BUSI 690- Policy and Strategy in Global Competition Ch 4-6 Exam Questions And Answers 100% Verified

BUSI 690- Policy and Strategy in Global Competition Ch 4-6 Exam Questions And Answers 100% Verified Something a firm does well or a quality it has that increases its competitiveness in the marketplace is a - answersuccess. Among a company's internal weaknesses are which of the following? - answer1.) Inferior capabilities 2.) Unproven skills 3.) Deficiencies in intangible assets Which three of the following types of market opportunities are the most relevant for a company to pursue? - answer1.) Market opportunities that offer the best chances for growth. 2.) Market opportunities that match up with the company's competitive assets. 3.) Market opportunities that offer the best chances for profitability. To appraise a company's strengths, managers determine how well the firm performs key aspects of the business, such as - answer1.) Customer service. 2.) Supply chain management. 3.) Sales and marketing. What business practice is the most important factor that allows a company to seize the moment when a golden marketing opportunity presents itself? - answerdiligent market reconnaissance Something a firm does well or a quality it has that increases its competitiveness in the marketplace is a - answerstrength. A company's competitive assets are made up of which of the following? - answer1.) Capabilities 2.) Resources True or False: A value chain system is defined as a company's own value chain combined with those of its suppliers but not those of its wholesale distributors, who deal with finished products. - answerFalse: A value chain system is made up of a company's value chain plus those of its suppliers and distribution-channel partners. When a company offers unusually low prices for high-quality products, its business model is based on having a competitive - answerlevel of employee satisfaction. What would likely be part of the value chain for a service-based business, such as a packaging- design firm? - answer1.) Hiring creative talent 2.) Delivering artwork to clients 3.) Brainstorming new ideas How can managers improve a firm's customer value proposition and enhance differentiation? - answer1.) Introduce new technologies. 2.) Adopt best practices. 3.) Reallocate resources. The value of performing a detailed competitive strength assessment is that it allows a company to - answer1.) Address vulnerabilities. 2.) Pinpoint competitors' relative weaknesses. 3.) Plan offensive and defensive strategies. A competitive strength assessment would most likely use information obtained through - answer1.) Resource and capability analysis. 2.) Benchmarking. 3.) SWOT analysis. What should a company consider doing when it has competitive strengths in areas where its rivals are weak? - answer1.) Offensive moves. 2.) Defensive moves. To solidify a company's future financial and competitive success, managers can examine the results of broad industry analysis and internal company evaluations. This will help them understand - answer1.) The company's strategic and competitive challenges. 2.) What problems require their foremost attention. 3.) Which of the company's competitive shortcomings need addressing. Aggressive price-cutting to win customers away from a rival can be risky for which the following reasons? - answer1.) Other competitors might interpret such a move as an attack. 2.) Rivals with stronger relative cost positions might be able to better survive a price war.