A diagnosis of the competitive challenge, an element of a good strategy, is primarily accomplished through strategy - Answer-Analysis
Which of the following does a firm possess when it can outperform other firms in the same industry or the industry average over a prolonged period of time? - Answ...
WPC 480 Quiz 1 Exam Questions with
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A diagnosis of the competitive challenge, an element of a good strategy, is primarily
accomplished through strategy - Answer-Analysis
Which of the following does a firm possess when it can outperform other firms in the
same industry or the industry average over a prolonged period of time? - Answer-
Sustainable Competitive Advantage
Revved Rider Inc., a motorcycle company, is the market leader due to its superior
engine technology and service orientation. These unique qualities have helped the
company generate revenues that are consistently higher than other firms in the same
industry. Which of the following can be concluded about Revved Rider Inc. from this
scenario? - Answer-It has a competitive advantage over the other firms
Which of the following statements about competitive advantage is not true? - Answer-A
firm's competitive advantage is always absolute, not relative.
A firm is likely to have a competitive advantage when it - Answer-provides services that
consumers will value more than those of its rivals.
The greater the difference between value creation and cost, the - Answer-greater a
firm's economic contribution.
When a firm integrates the competitive strategies of cost-leadership and differentiation,
it will most likely result in - Answer-trade-offs that work against each other.
How has Threadless staked out a unique strategic position? - Answer-by providing
customers a voice in product design
Which of the following has contributed to Twitter's loss of a competitive advantage? -
Answer-Twitter does not allow advertisers to target their online ads precisely enough.
Quick Eats is a fast-food restaurant that has recently entered the hospitality industry.
Since most of its competitors are pursuing a low-cost position and doing well, Quick
Eats also wants to adopt the same strategy. Which of the following will be a likely
implication of this decision? - Answer-Quick Eats will face low profit potential.
Which of the following statements is true of strategy? - Answer-Actions that allow a firm
to address a competitive challenge are strategy.
, Which of the following statements with regard to determining firm performance is true? -
Answer-External analysis will help understand the industry effects that determine a
firm's performance.
Which of the following forces are most closely related to firm effects within a
pharmaceutical industry? - Answer-the strategic actions taken by managers of a firm in
the industry
The metaphor of a black swan best applies to - Answer-events that are considered
highly unexpected and highly impactful when they do occur.
The black swan events in the past have demonstrated that - Answer-stakeholders can
affect or be affected by a firm's actions.
Widgets Inc. is a vendor who supplies machine parts to an appliance manufacturing
company. In return, Widgets Inc. relies on the company for its revenue and is affected
by any decisions taken by the company. In this scenario, Widgets Inc. is a(n) _____ for
the appliance manufacturing company. - Answer-external stakeholder
Which of the following groups is most likely to be considered a firm's internal
stakeholder? - Answer-board members
Which of the following groups will not be considered a company's internal stakeholder? -
Answer-suppliers
Which of the following statements related to a firm's stakeholders is not true? - Answer-
While external stakeholders are those who make contributions toward the firm, internal
stakeholders are those who reap all the benefits.
Which of the following is a stakeholder attribute that managers should consider at every
step in a stakeholder impact analysis? - Answer-legitimacy
The annual net profit after taxes for RSL Corp., a multinational conglomerate, is $5.5
billion. As legal owners, which of the following stakeholder groups has the most
legitimate claim on this profit? - Answer-Shareholders
Why are black swan events often bad for business? - Answer-They erode the implicit
trust between the corporate world and society.
Which of the following is a philanthropic responsibility of a firm? - Answer-corporate
citizenship
Which of the following would be most likely to directly put an organization like BP at a
major competitive disadvantage? - Answer-the Environmental Protection Agency (EPA)
banning BP from any new contracts with the U.S. government
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