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Strategic Management Exam With Complete Solutions Latest Update
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Strategic Management Exam With Complete Solutions Latest Update
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Strategic Management Exam With CompleteSolutions Latest Update
____________ tends to be a combination of planned elements and unplanned elements of a company's strategy. -
correct answers realized strategy
Two elements of a company's business model are profit formula and __________. - correct answers customer value
proposition
A company's _________ defines its approach to creating superior value for customers and how capabilities and
resources will be employed to deliver the desired value to customers. - correct answers strategy
A company's ___________ basically defines how a company intends to make money. - correct answers business model
The plan that comes out of a formal strategic managements process would best be called a ____________. - correct
answers deliberate strategy
A _________ strategy is considered to be a hybrid strategy. - correct answers best-cost
It is clear from the chapter discussion that Starbucks is using a __________ strategy to gain a sustainable competitive
advantage in the coffee market. - correct answers broad differentiation
The three questions used to test for a winning strategy focus on fit, sustainability, and _______________. - correct
answers performance
The most attractive customer value proposition is attained by: - correct answers increasing value provided and lowering
the price
A __________ allows a company to attract sufficiently large numbers of buyers who have a lasting preference for its
products or services over those offered by rivals, despite the efforts of the competitors to offset that appeal and
overcome the company's advantage. - correct answers sustainable competitive advantage
, Microsoft's recent decision to enter the telephone hardware business by acquiring Nokia's phone division opens a new
and significant revenue stream for a company that was primarily software driven. As such, this move represents a
change in Microsoft's _________. - correct answers business model
Having a competitive advantage does not always guarantee competitive success. - correct answers true
According to Henry Mintzberg, the strategy that will ultimately determine an organization's success or failure is its: -
correct answers realized strategy
Avon was originally founded as a vehicle for selling as asporii - correct answers realized, emergent
The Aldi's grocery store chain believes in providing good, healthy food at the lowest price possible. This approach
represents Aldi's: - correct answers customer value proposition
According to ______________, 2016 will be a "Cataclysmic year" for stocks around the world due to the combination of
low oil prices, weakness in China and other developing countries, and geopolitical uncertainty around the globe. -
correct answers the Royal Bank of Scotland
A strategic vision should have all of the following characteristics EXCEPT: - correct answers broad
When an organization briefly describes what its business is about and why it does it, they have articulated a(n)
_______________. - correct answers mission statement
___________ objectives are more focused on the past (lagging), while __________ objectives are more focused on the
future (leading) - correct answers financial; strategic
The designated beliefs and desired way of doing things at a company are called what? - correct answers values
________ is the highest level of strategy-making for a company. - correct answers corporate
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