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Test Bank Strategic Management 5th Edition by Frank Rothaermel Chapter 1-12|Complete Guide A+ LATEST COMPLETE GUIDE $7.99   Add to cart
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Test Bank Strategic Management 5th Edition by Frank Rothaermel Chapter 1-12|Complete Guide A+ LATEST COMPLETE GUIDE
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Test Bank Strategic Management 5th Edition by Frank Rothaermel Chapter 1-12|Complete Guide A+ LATEST COMPLETE GUIDE

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  • October 5, 2023
  • 189
  • 2023/2024
  • Exam (elaborations)
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  • 9781260571233
  • 2023
  • 2022
  • ise strategic management
  • strategic manag
  • test bank
  • frank rothaermel frank t rothaermel
  • test bank strategic management 5th edition by fran
  • frank rothaermel chapter 1 12 complete

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lOMoARcPSD|30878495




6/1/2020 Assignment Print View
For All Chapters -->
4. Award: 10.00 points




1. Award:10.00
points




A good strategy is a set of actions that enables a firm to achieve its own internal goals without regard
to the external environment.



 True

➜  False




The success of a strategy heavily depends on the external environment. A good strategy is a set
of actions that enables a firm to achieve superior performance relative to its competitors. In this
light, a strategy which produces only a minor loss of revenues while competitors suffer heavy
losses can be seen as successful.



References


True / False Difficulty: 2 Medium Learning Objective: 01-01 Explain the role
of strategy in a firm's quest for
competitive advantage.




Downloaded by Irfan Ali
(irfanrai530@gmail.com)

, lOMoARcPSD|30878495




6/1/2020 Assignment Print View
For All Chapters -->
4. Award: 10.00 points




The following statement by the chief executive of GoFlix movie studio is an effective strategy: “We
will produce the greatest films of the 21st century.”



 True

➜  False




Grandiose statements are not strategy. Although GoFlix’s vision of producing the highest-quality
films among all studios may lay the foundation for an effective strategy, it must be backed up by a
clear set of actions that will allow the firm to address the competitive challenge with clear
consideration of value creation and costs.



References


True / False Difficulty: 2 Medium Learning Objective: 01-02 Define
competitive advantage, sustainable
competitive advantage, competitive
disadvantage, and competitive parity.




3. Award:10.00 points




The three tasks of the AFI strategy framework are to Assemble a prototype, Find a buyer, and
Incorporate feedback.


Downloaded by Irfan Ali
(irfanrai530@gmail.com)

, lOMoARcPSD|30878495




6/1/2020 Assignment Print View
For All Chapters -->
4. Award: 10.00 points



 True

➜  False




The three tasks of the AFI strategy framework are to Analyze, Formulate, and Implement. This
framework (1) explains and predicts differences in firm performance, and (2) helps managers
formulate and implement a strategy grounded in internal and external analysis that can result in
superior performance.



References


True / False Difficulty: 2 Medium Learning Objective: 01-05 Explain the
Analysis, Formulation, Implementation
(AFI) Strategy Framework.




Questions asked during the strategy analysis stage of the AFI framework include “How does the
firm make money?” and “What effects do forces in the external environment have on the firm’s
potential to gain and sustain a competitive advantage?”



➜  True

 False




Strategy analysis involves consideration of both the firm’s internal and external environments, and the
role that strategic managers play in establishing and maintaining a competitive advantage.


Downloaded by Irfan Ali
(irfanrai530@gmail.com)

, lOMoARcPSD|30878495




6/1/2020 Assignment Print View
For All Chapters -->
4. Award: 10.00 points


References


True / False Difficulty: 3 Hard Learning Objective: 01-05 Explain the
Analysis, Formulation, Implementation
(AFI) Strategy Framework.




5. Award:10.00 points




Once a strategy has been formulated and implemented, it is important that the firm sticks to it no matter
what happens.



 True

➜  False




Strategic leaders make decisions under conditions of uncertainty and complexity. They must carefully
monitor and evaluate the progress toward key strategic objectives and make adjustments by fine-
tuning any strategy as necessary.



References


True / False Difficulty: 2 Medium Learning Objective: 01-05 Explain the
Analysis, Formulation, Implementation
(AFI) Strategy Framework.

Downloaded by Irfan Ali
(irfanrai530@gmail.com)

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