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Test Bank for Strategy & Innovation - Ch 1 (5th Edition by James D. McKeen)
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Test Bank for Strategy & Innovation - Ch 1 (5th Edition by James D. McKeen)
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Strategy & Innovation - Ch 1Which of the following statements about a company's strategy is true?
A) Crafting an excellent strategy is more important than executing it well.
B) Managers at all companies face three central questions in thinking strategically about their
company's present circumstances and prospects: What's the company's present situation?
Where does the company need to go from here? How should it get there?
C) A company's strategy deals with whether the revenue-cost-profit economics of its business
model demonstrate the viability of the business enterprise as a whole.
D) Masterful strategies come partly (maybe mostly) by doing things in much the same way as
the industry leader but then being better than the leader in one particular area that counts
heavily with buyers.
E) Whether a company's strategy is ethical or not does not matter a lot because most customers
and most suppliers are relatively unconcerned whether a company - ANSB) Managers at all
companies face three central questions in thinking strategically about their company's present
circumstances and prospects: What's the company's present situation? Where does the
company need to go from here? How should it get there?
The competitive moves and business approaches a company's management are using grow the
business, attract and please customers, compete successfully, conduct operations, and achieve
the targeted levels of organizational performance is referred to as its
A) Strategic offensive for becoming a market leader.
B) Business model.
C) Long-term strategic direction.
D) Mission statement.
E) Strategy. - ANSE) Strategy.
Which one of the following is not related to actions and approaches that comprise a company's
strategy?
A) How management intends to grow the business
B) How to prove to shareholders that the company's business model is viable
C) How to build a loyal clientele and outcompete rivals
D) How to boost the company's performance
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