BSG TEST QUESTIONS AND ANSWERS GRADED A

BSG TEST QUESTIONS AND ANSWERS GRADED A Which of the following is not among the choices and decisions a company makes in crafting its strategy How to boost the company's credit rating and stock price A company's strategy evolves from one version to the next as managers abandon obsolete or ineffective strategy elements, settle upon a set of proactive strategy elements, and then as new circumstance unfold-- make adaptive strategic adjustments, which gives rise to reactive strategy elements A winning strategy is one that fits the company's internal and external situation, improves company performance, and helps achieve sustainable competitive advantage Which of the following is not a frequently used strategic approach to setting a company apart from rivals, delivering superior value, achieving competitive advantage, and converting buyers into loyal customers? striving to be more profitable than rival and aiming for a competitive edge based on bigger profit margins Based on Figure 1.1 Which of the following is not something to look for in identifying a company's strategy actions to raise or lower the company's performance targets and actions to pay down the company's long-term debt Crafting and executing strategy are top-priority managerial task because how well a company performs and the degree of market success it achieves are directly attributable to the caliber of its strategy and the proficiency with which strategy is executed the heart and soul of any strategy is the actions and moves in the marketplace that managers are taking to gain a competitive advantage over rivals Which of the following is not one of the reasons that a company's strategy evolves over time the need on the part of company mangers to make regular strategy adjustments so as to keep rivals off balance and always guessing about what moves it will make next The customer value proposition portion of a company's business model concerns the company's approach to satisfying buyer needs and requirements at a price they will consider a good value A company's strategy is defined by the specific market positioning, competitive moves, and business approaches that form managements answer to "whats our plan for running the company and producing good results" The two crucial elements of a company's business model are its customer value proposition ( which lays out the company's approach to satisfying buyer needs and requirements at a price they will consider a good value) and its profit formula ( its business approach to generating sufficiently large revenues and controlling the costs of its value proposition, such that the company will be appealingly profitable in delivering the intended value to customers. Which one of the following statements about whether a company's strategy can be considered ethical is true just keeping a company's strategic actions within the bounds of what is legal does not mean the strategy is ethical which one of the following does not account for why a company's strategy evolves over time, as shown in Figure 1.2 and explained in the accompanying text discussion managerial preferences for keeping the life-cycle of any given strategy short In choosing among strategy alternatives, company mangers are well- advised to embrace strategic actions that can pass the test of moral scrutiny-- it is not enough to just stay within the bounds of what is legal and is in compliance with prevailing government regulations The difference between a company's strategy and a company business model is that its strategy is defined by the specific market positioning, competitive moves, and business approaches management employs to try to produce good business results while its business model relates to management's blueprint for delivering a valuable product or service to customers in a manner that will generate revenues sufficient to cover cost and yield an attractive profit.