WPC 480 TESTS COMPILATION BUNDLE

Strategic Management correct answer: - integrative management - combines: Analysis, Formulation, and Implementation - designed to look for a companies competitive advantage - helps you think like a GM What is Strategy? correct answer: - to Gain and Sustain Competitive Advantage - its a s...

AFI strategy framework correct answer: A model that links three interdependent strategic management tasks—analyze, formulate, and implement—that, together, help managers plan and implement a strategy that can improve performance and result in competitive advantage. PESTEL model correct answe...

Corporate Strategy correct answer: The decisions & actions taken to gain & sustain competitive advantage in several industries and markets simultaneously What does corporate strategy address? correct answer: Where to compete on 3 dimensions: Industry value chain: vertical integration Prod...

Corporate Strategy correct answer: The decisions and actions taken to gain and sustain competitive advantage in several industries and markets simultaneously Corporate Strategy addresses where to compete along what 3 dimensions? correct answer: Industry Value Chain through vertical integration ...

At the time when Ellen decided to purchase a tablet computer, the product had just become accessible to the mass market. She did not purchase the tablet until after she was convinced that the benefits it would offer her would far exceed its price. Also, she waited for her friends to try the product ...

Cooperative Strategy correct answer: means by which firms collaborate to achieve a shared objective strategic alliance correct answer: a cooperative strategy in which firms combine some of their resources to create CA joint venture correct answer: a strategic alliance in which two or more f...

The two business models we reviewed—Industrial Organization and Resource-Based—focus, respectively, on _____ and _____ analysis: correct answer: external; internal What is the primary objective of a company strategy? correct answer: Achieving sustainable competitive advantage. Below are ...

If a company wants to gain a competitive advantage in a highly competitive industry, it should ideally correct answer: stake out a unique position within the industry. Which of the following stages of the strategic management process involves an evaluation of a firm's external and internal envi...

The purpose of strategy in business is to do what? correct answer: To create and provide the business with sustainable competitive advantage The difference between strategic decisions and tactical decisions is one of degree. The characteristics that differentiate between a strategic decision and...

Managers must adopt a new mind-set that values ___________ and the challenges that evolve from constantly changing conditions. correct answer: a. Flexibility b. Speed c. Innovation D. ALL OF THESE OPTIONS ARE CORRECT a. the industry's structural characteristics have little impact on a firm'...

Strategic Competitiveness correct answer: firms achieve by formulating and implementing a set of programmatic actions that allows it to outperform competitors in long run Strategy correct answer: an integrated and coordinated set of commitments and actions designed to exploit core competencies ...

What is Corporate strategy? correct answer: Actions to sustain/gain comp. adv. in several industries and markets Where does corporate strategy compete? correct answer: 1)Industry value chain: vertical integration 2)Product and services: diversification 3)Geography (regional, national, global ...

merger correct answer: a strategy through which two firms agree to integrate their operations on a relatively coequal basis •AT&T and Time Warner -WarnerMedia (2018) •Chrysler and Fiat - FCA (2014) •Chrysler and Daimler - DaimlerChrysler (1998) •JP Morgan Chase (2000) •Exxon and Mo...

Sustainable competitive advantage correct answer: Competitors are unable (or unwilling) to duplicate the benefits of a firm's strategy How is sustainable competitive advantage created? correct answer: created through a value-creating strategy, based on core competencies critical strategic s...