Test Bank for Business: Strategy, Development, Application, 4th Edition by Gary Bissonette
27 views 0 purchase
Course
Business Strategy
Institution
Business Strategy
Test Bank for Business: Strategy, Development, Application 4ce 4th Canadian Edition by Gary Bissonette. Full Chapters test bank are included with answers (Chapter 1 to 14)
Part 1 UNDERSTANDING TODAY'S Macro Business Environment
Chapter 1 Understanding and Managing Today's Business Enterprise
C...
Test Bank Business: Strategy, Development, Application 4th Edition Bissonette
Answers Included ✅
Chap 01 4ce Bissonette
1) Commercial endeavours refers to the markets the organization serves, the products it offers,
and the needs it professes to meet in the marketplace.
⊚ true
⊚ false
2) Employee interaction, as one of the three fundamental characteristics of a business, refers to
the value-creating skills that employees bring and how such skills are leveraged.
⊚ true
⊚ false
3) Organizational culture and formalized decision-making structure refers to the value-creating
skills an organization's employees bring to the marketplace.
⊚ true
⊚ false
4) Employee interaction refers to the value-creating skills an organization's employees bring to
the marketplace.
⊚ true
⊚ false
5) The three fundamental characteristics of a business can be used to provide a micro-level
understanding of a business, what it is in business to do, and how it does so.
⊚ true
⊚ false
6) The three fundamental characteristics of a business can be used to provide a macro-level
understanding of a business, what it is in business to do, and how it does so.
⊚ true
⊚ false
1
,7) The definition of business is likely to be personalized by each person associated with the
business.
⊚ true
⊚ false
8) A key component of the definition of business provided in your text is that business
comprises a set of mission-focused activities.
⊚ true
⊚ false
9) Businesses attempt to address or provide a solution to the needs of a particular market, or
markets.
⊚ true
⊚ false
10) The primary mission of a business cannot include satisfying a society-based need.
⊚ true
⊚ false
11) Businesses seek to earn a profit by providing goods and services to others.
⊚ true
⊚ false
12) To satisfy the needs of a market, a business may either acquire or develop products and
services it can deliver at a profit.
⊚ true
⊚ false
13) The business model can best be visualized as the underlying operational platform an
organization uses to position its approach to a given market.
⊚ true
⊚ false
2
,14) Business models have two primary parts, a company-centric part and a market-centric part.
⊚ true
⊚ false
15) The company-centric side of the business model can also be understood as the business
system.
⊚ true
⊚ false
16) The market-centric side of the business model refers to how a business connects to the
marketplace in a way that is meaningful and adds value to the markets it is choosing to serve.
⊚ true
⊚ false
17) Value proposition development is part of the market-centric side of the business model.
⊚ true
⊚ false
18) Positioning is the ability to develop a unique, credible, sustainable, and valued place in the
mind of a customer.
⊚ true
⊚ false
19) On the company-centric (business system) side of the business model, the key activities cell
refers to how the company combines assets, labour, capital and managerial acumen.
⊚ true
⊚ false
20) An organization's cost structure includes expenses associated with developing and delivering
products or services to the marketplace.
⊚ true
⊚ false
3
, 21) If you are focused on the manufacturing of goods, then a retailer who makes your goods
available for sale would be an example of a partner organization.
⊚ true
⊚ false
22) Effective deployment of the business model is equally as important as efficient deployment
of the business model.
⊚ true
⊚ false
23) Once strategic direction is determined, management can hand off responsibility for
development and execution the business model.
⊚ true
⊚ false
24) The role of the general manager includes development of a well-directed and well-positioned
strategy and efficient and effective business model execution.
⊚ true
⊚ false
25) A key element of business success is a business plan.
⊚ true
⊚ false
26) The business planning A business plan is developed via a process called the business
planning cycle.
⊚ true
⊚ false
27) The business planning cycle outlines the focus and methodology for setting the business
model in motion.
⊚ true
⊚ false
4
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller StepsSol. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $29.49. You're not tied to anything after your purchase.
