Chapter 01 - Strategic Management and Strategic Competitiveness
Copyright Cengage Learning. Powered by Cognero. Page 1 True / False
1.The difference between average and above -average returns is that average returns are returns that an investor expects to
earn from an investment as compared to other investments with similar stock prices, while above -average returns are in
excess of expectations for similarly priced stocks.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-1 An Overview of Strategy and Strategic Competitiveness
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: SM.HITT.24.01.01 - Define strategic competitiveness, strategy, competitive advantage, above -average returns, and the strategic management process.
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
KEYWORDS: Bloom's: Analyze
DATE CREATED: 4/19/2023 5:02 PM
DATE MODIFIED: 4/19/2023 5:02 PM
2.Particularly when assessing investments in new venture firms, the most effective, and often the only, way to measure
the performance of the firms and determine their viability as an investment option is to examine financial metrics such as
returns on assets, and sales.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-1 An Overview of Strategy and Strategic Competitiveness
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: SM.HITT.24.01.01 - Define strategic competitiveness, strategy, competitive advantage, above -average returns, and the strategic management process.
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
KEYWORDS: Bloom's: Analyze
DATE CREATED: 4/19/2023 5:02 PM
DATE MODIFIED: 4/19/2023 5:02 PM
3.Examples of incremental innovations include iPads, Wi-Fi, and the web browser.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-2 The Competitive LandscapeStrategic Management Concepts and Cases Competitiveness and Globalization, 14e Michael Hitt, Duane Ireland, Robert Hoskisson, Jeffrey Harrison (Test Bank, All Chapters. 100% Original Verified, A+ Grade) Copyright Cengage Learning. Powered by Cognero. Page 2 QUESTION TYPE: True / False HAS VARIABLES: False LEARNING OBJECTIVES: SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization, technological changes, and expectations of socially responsible behavior shape it. NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic KEYWORDS: Bloom's: Apply DATE CREATED: 4/19/2023 5:02 PM DATE MODIFIED: 4/19/2023 5:02 PM 4. The I/O and resource -based models contain many of the same steps. One clear difference between the two models is the resource -based model starts by looking at the internal strengths and weaknesses of a firm, while the I/O model begins with an examination of the external environment. Another key difference is the resource -based model identifies an attractive industry much earlier in the process than does the I/O model. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate REFERENCES: 1-4 The Resource -Based Model of Above -Average Returns QUESTION TYPE: True / False HAS VARIABLES: False LEARNING OBJECTIVES: SM.HITT.24.01.04 - Use the resource -based model to explain how firms can earn above -
average returns. NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic KEYWORDS: Bloom's: Analyze DATE CREATED: 4/19/2023 5:02 PM DATE MODIFIED: 4/19/2023 5:02 PM Multiple Choice 5. What has a firm achieved when it successfully formulates and implements a value -creating strategy? a. Strategic competitiveness b. A permanently sustainable competitive advantage c. Substantial returns d. Legal and ethical core values ANSWER: a POINTS: 1 DIFFICULTY: Easy REFERENCES: 1-1 An Overview of Strategy and Strategic Competitiveness QUESTION TYPE: Multiple Choice HAS VARIABLES: False LEARNING OBJECTIVES: SM.HITT.24.01.01 - Define strategic competitiveness, strategy, competitive advantage, above -average returns, and the strategic management process. NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic KEYWORDS: Bloom's: Understand DATE CREATED: 4/19/2023 5:02 PM DATE MODIFIED: 5/17/2023 4:21 PM Copyright Cengage Learning. Powered by Cognero. Page 3 6. The primary drivers of hypercompetition are __________ and __________. a. rising global socio -economic instability; increased inflation b. the emergence of a global economy; rapid technological change c. increased global competition; decreased tariffs d. increased availability of capital; increased competition ANSWER: b POINTS: 1 DIFFICULTY: Easy REFERENCES: 1-2 The Competitive Landscape QUESTION TYPE: Multiple Choice HAS VARIABLES: False LEARNING OBJECTIVES: SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization, technological changes, and expectations of socially responsible behavior shape it. NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic KEYWORDS: Bloom's: Remember DATE CREATED: 4/19/2023 5:02 PM DATE MODIFIED: 5/15/2023 2:15 PM 7. All of the following are characteristics of the global economy EXCEPT: a. the increasing importance of emerging economies as sources of revenue growth. b. the free movement of goods, services, people, skills, and ideas across geographic borders. c. the increased use of tariffs to protect industries. d. higher levels of opportunities and challenges in new geographic markets. ANSWER: c POINTS: 1 DIFFICULTY: Moderate REFERENCES: 1-2 The Competitive Landscape QUESTION TYPE: Multiple Choice HAS VARIABLES: False LEARNING OBJECTIVES: SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization, technological changes, and expectations of socially responsible behavior shape it. NATIONAL STANDARDS: United States - BUSPROG: Diversity KEYWORDS: Bloom's: Understand DATE CREATED: 4/19/2023 5:02 PM DATE MODIFIED: 4/19/2023 5:02 PM 8. The increasing economic interdependence among countries and their organizations as reflected in the flow of products, financial capital, and knowledge across country borders is defined as a. hypercompetition. b. boundaryless retailing. c. strategic intensity. d. globalization. ANSWER: d POINTS: 1 DIFFICULTY: Easy Copyright Cengage Learning. Powered by Cognero. Page 4 REFERENCES: 1-2 The Competitive Landscape QUESTION TYPE: Multiple Choice HAS VARIABLES: False LEARNING OBJECTIVES: SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization, technological changes, and expectations of socially responsible behavior shape it. NATIONAL STANDARDS: United States - BUSPROG: Diversity KEYWORDS: Bloom's: Understand DATE CREATED: 4/19/2023 5:02 PM DATE MODIFIED: 5/17/2023 6:18 PM 9. New markets created by the technologies underlying the development of products such as iPads and Wi-Fi are a result of a. disruptive technologies. b. global competition. c. knowledge intensity. d. hypercompetition. ANSWER: a POINTS: 1 DIFFICULTY: Moderate REFERENCES: 1-2 The Competitive Landscape QUESTION TYPE: Multiple Choice HAS VARIABLES: False LEARNING OBJECTIVES: SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization, technological changes, and expectations of socially responsible behavior shape it. NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic KEYWORDS: Bloom's: Apply DATE CREATED: 4/19/2023 5:02 PM DATE MODIFIED: 5/17/2023 4:22 PM 10. The CEO of Ridgeway, Inc., realizes that the company's survival depends on developing and acquiring knowledge. Which of the following actions by the CEO would be MOST consistent with this need? a. Ensuring that all current, unique knowledge of the firm is protected by patents b. Planning extensive employee training and hiring educated and experienced employees c. Investing in sophisticated databases in relevant knowledge areas d. Establishing a system of organizational intelligence gathering ANSWER: b POINTS: 1 DIFFICULTY: Moderate REFERENCES: 1-2 The Competitive Landscape QUESTION TYPE: Multiple Choice HAS VARIABLES: False LEARNING OBJECTIVES: SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization, technological changes, and expectations of socially responsible behavior shape it. NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic KEYWORDS: Bloom's: Apply DATE CREATED: 4/19/2023 5:02 PM
