STRATEGIC MANAGEMENT | EXAM 1
Q&A 100% Solved | Graded A+
____________ tends to be a combination of planned elements and
unplanned elements of a company's strategy. - realized strategy
Two elements of a company's business model are profit formula and
__________. - customer value proposition
A...
____________ tends to be a combination of planned elements and
unplanned elements of a company's strategy. - ✔✔realized strategy
Two elements of a company's business model are profit formula and
__________. - ✔✔customer value proposition
A company's _________ defines its approach to creating superior value for
customers and how capabilities and resources will be employed to deliver
the desired value to customers. - ✔✔strategy
A company's ___________ basically defines how a company intends to
make money. - ✔✔business model
The plan that comes out of a formal strategic managements process would
best be called a ____________. - ✔✔deliberate strategy
A _________ strategy is considered to be a hybrid strategy. - ✔✔best-cost
It is clear from the chapter discussion that Starbucks is using a
__________ strategy to gain a sustainable competitive advantage in the
coffee market. - ✔✔broad differentiation
,The three questions used to test for a winning strategy focus on fit,
sustainability, and _______________. - ✔✔performance
The most attractive customer value proposition is attained by: -
✔✔increasing value provided and lowering the price
A __________ allows a company to attract sufficiently large numbers of
buyers who have a lasting preference for its products or services over
those offered by rivals, despite the efforts of the competitors to offset that
appeal and overcome the company's advantage. - ✔✔sustainable
competitive advantage
Microsoft's recent decision to enter the telephone hardware business by
acquiring Nokia's phone division opens a new and significant revenue
stream for a company that was primarily software driven. As such, this
move represents a change in Microsoft's _________. - ✔✔business model
Having a competitive advantage does not always guarantee competitive
success. - ✔✔true
According to Henry Mintzberg, the strategy that will ultimately determine an
organization's success or failure is its: - ✔✔realized strategy
Avon was originally founded as a vehicle for selling as asporii - ✔✔realized,
emergent
, The Aldi's grocery store chain believes in providing good, healthy food at
the lowest price possible. This approach represents Aldi's: - ✔✔customer
value proposition
According to ______________, 2016 will be a "Cataclysmic year" for
stocks around the world due to the combination of low oil prices, weakness
in China and other developing countries, and geopolitical uncertainty
around the globe. - ✔✔the Royal Bank of Scotland
A strategic vision should have all of the following characteristics EXCEPT: -
✔✔broad
When an organization briefly describes what its business is about and why
it does it, they have articulated a(n) _______________. - ✔✔mission
statement
___________ objectives are more focused on the past (lagging), while
__________ objectives are more focused on the future (leading) -
✔✔financial; strategic
The designated beliefs and desired way of doing things at a company are
called what? - ✔✔values
________ is the highest level of strategy-making for a company. -
✔✔corporate
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