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BA 4302 - EXAM 1 REVIEW QUESTIONS & ANSWERS RATED 100% CORRECT!!
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BA 4302 - EXAM 1 REVIEW QUESTIONS & ANSWERS RATED 100% CORRECT!!
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BA 4302 - EXAM 1 REVIEW QUESTIONS & ANSWERS RATED 100% CORRECT!!BA 4302 Evatee 7/31/24 BA 4302 BA 4302 - EXAM 1 REVIEW QUESTIONS & ANSWERS RATED 100% CORRECT!!
Which of the following is not something a company's strategy is concerned with? 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 Answer - B. Management's choices about how quickly and closely to copy the strategies being used by successful rival companies
The competitive moves and business approaches a company's management is using to grow the business, compete successfully, attract and please customers,
conduct operations, respond to changing economic and market conditions, and
achieve organizational objectives is referred to as its A. strategy.
B. mission statement.
C. strategic intent.
D. business model.
E. strategic vision. Answer - A. strategy. A company achieves sustainable competitive advantage when A. it has a profitable business model.
B. a sufficiently large number of buyers have a lasting preference for its products or services as compared to the offerings of competitors.
C. it is able to maximize shareholder wealth.
D. it is consistently able to achieve both its strategic and financial objectives.
E. its strategy and its business model are well-matched and in sync. Answer - B.
a sufficiently large number of buyers have a lasting preference for its products or services as compared to the offerings of competitors.
The most important aspect(s) of a company's business strategy A. are the actions and moves in the marketplace that managers take to gain a sustainable competitive advantage.
B. is figuring out how to maximize profits and shareholder value.
C. concerns how to improve the efficiency of its business model.
D. deals with how management plans to maximize profits while, at the same time, operating in a socially responsible manner.
E. is figuring out how to become the industry's low-cost provider. Answer - A. are the actions and moves in the marketplace that managers take to gain a sustainable competitive advantage.
Which of the following is not one of the basic reasons that a company's strategy evolves over time? A. An ongoing need to abandon those strategy features that are no longer working well
B. The proactive efforts of company managers to improve the company's financial performance and secure a competitive advantage
C. The need on the part of company managers to make regular adjustments in the company's business model
D. The need to respond to the actions and competitive moves of rival firms
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