Test Bank For Strategic Management Concepts and Cases 3rd Edition By Jeffrey H. Dyer, Paul Godfrey. VERIFIED
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Strategic Management Concepts and Cases
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Strategic Management Concepts And Cases
Package Title: Chapter 1, Testbank
Course Title: Dyer, SM 2e
Chapter Number: 1
Question type: Multiple Choice
1) ________ can be best defined as when an organization generates higher profits compared to its rivals.
a) Client advantage
b) Competitive advantage
c) Employer advantage
d) Uniqu...
test bank for strategic management concepts and cases 3rd edition by jeffrey h dyer
paul godfrey verified
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Test Bank For Strategic Management
Concepts and Cases 3rd Edition By Jeffrey H.
Dyer, Paul Godfrey. VERIFIED
Package Title: Chapter 1, Testbank
Course Title: Dyer, SM 2e
Chapter Number: 1
Question type: Multiple Choice
1) ________ can be best defined as when an organization generates higher profits compared
to its rivals.
a) Client advantage
b) Competitive advantage
c) Employer advantage
d) Unique valueAnswer: b
Difficulty: Easy
Section Reference 1: What Is Business Strategy?
Learning Objective 1: Define business strategy, including the importance of
competitive advantage, the four choices that are critical to strategy formulation, and
the strategic management process. Bloomcode: Knowledge Standard 1 : AACSB ||
Analytic
2) Gems Corp. is a leading jewelry brand that finds it hard to make as much profit as its
competitors. In order to overcome this, the employees of Gems Corp. decide to work
harder to provide unique value to customers and increase the sales of the company. After a
year, it is able to make more profits than its competitors. This scenario best illustrates
________. a) client advantage b) internal analysis
c) external analysis
d) competitive advantage
Answer: d
Difficulty: Hard
,Section Reference 1: What Is Business Strategy?
Learning Objective 1: Define business strategy, including the importance of competitive
advantage, the four choices that are critical to strategy formulation, and
the strategic management process. Bloomcode: Application
Standard 1 : AACSB || Analytic
3) The industry and geographic area that a company competes in, is referred to as
its ________. a) niche
b) business
c) segment
d) market
Answer: d
Difficulty: Easy
Section Reference 1: What Is Business Strategy?
Learning Objective 1: Define business strategy, including the importance of
competitive advantage, the four choices that are critical to strategy formulation, and
the strategic management process. Bloomcode: Knowledge Standard 1 : AACSB ||
Analytic
4) Adia and Ali are two business partners who want to set up a company that sells imported
sports gear and equipment. In order to make sure that the company makes and retains profit,
they must choose an area that is close to where their products have the highest demand. This
area should allow them consistently to make profit. In this scenario, Adia and Ali are looking for
a ________.
a) market
b) strategy
c) cost advantage
d) mission Answer: a
Difficulty: Hard
Section Reference 1: What Is Business Strategy?
Learning Objective 1: Define business strategy, including the importance of competitive
advantage, the four choices that are critical to strategy formulation, and
the strategic management process. Bloomcode: Application
Standard 1 : AACSB || Analytic
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5) ________ can be best defined as the reason a firm wins with customers or the value
proposition it offers to customers, such as a low cost advantage or differentiation
advantage. a) Switching costs b) Unique value
c) Complementary products
d) SWOT analysisAnswer: b
Difficulty: Easy
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