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Business Capstone Exam 1 Practice Questions and Answers Which of the following statements about a company's realized strategy is true? a. A company's realized strategy is mostly hidden to outside view and is deliberately kept under wraps by top-level managers. b. A company's realized strategy ...

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  • November 3, 2024
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  • 2024/2025
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Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024




Business Capstone Exam 1 Practice

Questions and Answers


Which of the following statements about a company's realized strategy is true?




a. A company's realized strategy is mostly hidden to outside view and is deliberately kept under wraps by

top-level managers.




b. A company's realized strategy is typically planned well in advance and usually deviates little from the

planned set of actions.




c. A company's realized strategy generally changes very little over time unless a newly appointed CEO

decides to take the company in a new direction with a new strategy.




d. A company's realized strategy is typically a blend of deliberate and/or planned initiatives and

emergent and/or unplanned reactive strategy elements.



Copyright © Stuvia International BV 2010-2024 Page 1/142

, Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024




e. A company's realized strategy is developed mostly on the fly because of the constant efforts of

managers to keep rival companies at a disadvantage. - ANSWER✔✔-d. A company's realized strategy is

typically a blend of deliberate and/or planned initiatives and emergent and/or unplanned reactive

strategy elements.




Explanation


As shown in Figure 1.1, a company's realized strategy tends to be a combination of both deliberate

planned elements and unplanned, emergent elements.


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 no adjustments to the company's business model


Copyright © Stuvia International BV 2010-2024 Page 2/142

, Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024




d. The need to respond to the actions and competitive moves of rival firms




e. The need to keep strategy in step with changing industry and competitive conditions - ANSWER✔✔-c.

The need on the part of company managers to make no adjustments to the company's business model




Explanation


Regardless of whether a company's strategy changes gradually or swiftly, the important point is that the

task of crafting strategy is not a one-time event but is always a work in progress.


A pharmaceutical giant acquires a manufacturer of rare specialty drugs to improve its falling share prices

and invests all its wealth into the deal. Due to a deficit, it agrees to do a joint venture for the acquisition

and involves a major automobile giant to fund the deal. After a rocky start, the companies now have a

strong market position and generate good profits. Which of the following regarding the company's

strategy is true?




a. It fails the performance test.




Copyright © Stuvia International BV 2010-2024 Page 3/142

, Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024




b. It fails the competitive advantage and the fit tests.




c. It is a winning strategy.




d. It fails in all three tests.




e. It fails the fit test, but passes the competitive advantage and performance tests. - ANSWER✔✔-c. It is

a winning strategy.




Explanation


The pharmaceutical giant assessed the market, identified a suitable solution to accentuate its market

position, gained a competitive edge by adding a specialty drug to its product line, and realized financial

profits and a strong market position. The strategy is a winner as it clears all three tests.


Rainbow Resorts Inc. has multiple tropical resorts in various locations. In a crowded market that caters to

all kinds of consumers, this resort caters mainly to LGBTQ customers with a guaranteed hassle-free

holiday experience at a premium price. What strategy is Rainbow using to gain competitive advantage?




Copyright © Stuvia International BV 2010-2024 Page 4/142

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