WPC 480

Soil and Sod Gardening Supplies has a vision of helping every American learn how to grow their own food. Its management team recently unveiled the mission statement "A garden at every home." What is wrong with this mission statement? correct answer: It does not indicate how the company will accomplish its goals. Bubble Buddy is a company that manufactures hot tubs. Which of the following best illustrates a product-oriented vision for Bubble Buddy? correct answer: to be the pioneering manu...

Ackbar, Inc. has had high growth in profits for several years, and each year it has had the highest profits ever. What can you assess about Ackbar's strategic competitive advantage? correct answer: Can assess nothing about competitive advantage. Firms that outperform all their competitors must have a high quality strategy. correct answer: False It is not rare that a CEO of a large, public organizations will be given a raise and/or bonus even though the profitability of the firm has been...

sustainable competitive advantage correct answer: Competitors are unable (or unwilling) to duplicate the benefits of a firm's strategy Is created through a value-creating strategy, based on core competencies. What are some strategic challenges businesses face? correct answer: - Tech (*THIS IS A CRITICAL ONE) - Globalization - Pace of Change or speed - Dynamic and Uncertain market conditions - Growth of knowledge base and information Core competencies are correct answer: 1. Val...

Sustainable competitive advantage correct answer: Competitors are unable (or unwilling) to duplicate the benefits of a firm's strategy How is sustainable competitive advantage created? correct answer: created through a value-creating strategy, based on core competencies critical strategic strategy correct answer: disruptive technology Disruptive technology correct answer: destroy value; create markets what is critical to strategic success? correct answer: Developing a shared vi...

merger correct answer: a strategy through which two firms agree to integrate their operations on a relatively coequal basis •AT&T and Time Warner -WarnerMedia (2018) •Chrysler and Fiat - FCA (2014) •Chrysler and Daimler - DaimlerChrysler (1998) •JP Morgan Chase (2000) •Exxon and Mobil - ExxonMobil (1996) acquisition correct answer: a strategy through which one firm buys a controlling, or 100 percent, interest in another firm with the intent of making the acquired firm a sub...

What is Corporate strategy? correct answer: Actions to sustain/gain comp. adv. in several industries and markets Where does corporate strategy compete? correct answer: 1)Industry value chain: vertical integration 2)Product and services: diversification 3)Geography (regional, national, global mkts) What is Vertical integration? correct answer: Process where several steps in production are controlled and owned by a single company Forward Integration correct answer: ex) pepsi concent...

Strategic Competitiveness correct answer: firms achieve by formulating and implementing a set of programmatic actions that allows it to outperform competitors in long run Strategy correct answer: an integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage. competitive advantage correct answer: a firm has this when competitors are not able to imitate the value the firm's products create or to find it too expensive t...

Managers must adopt a new mind-set that values ___________ and the challenges that evolve from constantly changing conditions. correct answer: a. Flexibility b. Speed c. Innovation D. ALL OF THESE OPTIONS ARE CORRECT a. the industry's structural characteristics have little impact on a firm's performance over time. b. each firm is a unique collection of resources and capabilities. C. CAPABILITIES ARE HIGHLY MOBILE ACROSS FIRMS. d. differences in resources and capabilities are the basi...

The purpose of strategy in business is to do what? correct answer: To create and provide the business with sustainable competitive advantage The difference between strategic decisions and tactical decisions is one of degree. The characteristics that differentiate between a strategic decision and a tactical decision is based on which of the following. correct answer: Amount of available resources consumed by the decision, Ability to reverse the decision and Temporal implication consequences ...

If a company wants to gain a competitive advantage in a highly competitive industry, it should ideally correct answer: stake out a unique position within the industry. Which of the following stages of the strategic management process involves an evaluation of a firm's external and internal environments? correct answer: strategy analysis While creating its AFI strategy framework, Valdez Consultants decided what markets the firm should compete in. By doing this, what type of strategy did ...