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BUSMHR 4490H EXAM 1 2024/2025 WITH 100% ACCURATE SOLUTIONS
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BUSMHR 4490H EXAM 1 2024/2025 WITH 100% ACCURATE SOLUTIONS
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BUSMHR 4490H EXAM 1 2024/2025 WITH100% ACCURATE SOLUTIONS
The goal of a good strategy is focused primarily on
- creating superior value while containing costs.
- making as much money as possible.
- employing lean manufacturing and Six Sigma.
- encouraging investors to buy more shares of the firm. - Precise Answer
✔✔creating superior value while containing costs
In ________, a firm frames a guiding policy to address the competitive
challenge.
- strategy control
- strategy implementation
- strategy formulation
- strategy analysis - Precise Answer ✔✔strategy formulation
________ is best described as an integrative management field that
combines analysis, formulation, and implementation in the quest for
competitive advantage.
,- Supply chain management
- Integrated technology management
- Strategic management
- Inventory management - Precise Answer ✔✔strategic management
Which of the following is an element of good strategy?
- a summary of the firm's history within its industry
- a guiding policy to address employee satisfaction
- a set of coherent actions to implement the firm's guiding policy
- an approach that underestimates the competition - Precise Answer
✔✔a set of coherent actions to implement the firm's guiding policy
As the strategic manager of AlwaysSharp art knives, you are tasked with
producing a strategy for introducing a new line of premium knives. Your
competitor produces a line of similar art knives at a cost of $1 and sells
them for $5. Because your company has inferior production capabilities,
your knives will cost $2 each to produce. However, your handle is
proven to be more comfortable than your competitors'. Assuming you
are guaranteed to sell the same number of units as your competitor,
which of the following strategies is most likely to achieve a competitive
advantage?
- Reduce the quality of materials used in AlwaysSharp art knives to
bring unit costs down to $1, then sell the knives for $5.
,- Continue to produce AlwaysSharp art knives for $2 but set the price at
$4.
- Offer a buy-one-get-one-free sale on AlwaysSharp art knives.
- Market AlwaysSharp art knives as a higher-quality alternative and sell
them for $7 - Precise Answer ✔✔Market AlwaysSharp art knives as a
higher-quality alternative and sell them for $7.
Golden Age Cinemas Inc. and HiDef Inc. are two companies that own
and run movie theaters in malls and other commercial areas. Both are
trying to coax consumers back into movie theaters after the COVID-19
pandemic shutdowns. While Golden Age Cinemas Inc. pursues a cost-
leadership strategy, HiDef Inc. adopts a differentiation strategy. Which
of the following statements is most likely true of this scenario?
- Golden Age Cinemas will charge a premium price for its customers,
while HiDef will implement everyday low pricing.
- HiDef and Golden Age Cinemas will not be direct competitors to each
other, and their customer segments will overlap very little
- HiDef will keep its customer service at an acceptable level, while
Golden Age Cinemas will provide superior customer service.
- Golden Age Cinemas and HiDef will use a similar approach to create
value for customers by attempting to offer everything to everybody. -
Precise Answer ✔✔HiDef and Golden Age Cinemas will not be direct
competitors to each other, and their customer segments will overlap very
little
, If French Provincial Decor LLC obtains an 18 percent return on invested
capital, which of the following will help determine if it has a competitive
advantage over other furniture companies?
- comparing the return to the return on invested capital obtained by other
firms in the industry
- assessing the value based on the shareholders' expectations of return on
their capital
- evaluating the liquidity ratios for other pharmaceutical companies
- comparing the value to the history of the firm's return of investment
over a number of years - Precise Answer ✔✔comparing the return to the
return on invested capital obtained by other firms in the industry
Giorgia's and Florentine's are two restaurants serving Italian cuisine.
While Giorgia's focuses on providing quick, affordable pasta dishes for
the lunch crowd, Florentine's focuses on serving home-style dishes in an
upscale, romantic setting. Why have both companies been able to gain a
competitive advantage?
- They benefited from economies of scale.
- They entered into a cartel arrangement.
- They each pursued distinct strategic positions.
- They each engaged in direct imitation and substitution. - Precise
Answer ✔✔They each pursued distinct strategic positions.
Which of the following scenarios illustrates a firm that has a sustainable
competitive advantage?
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