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WPC 480 TESTS COMPILATION BUNDLE
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[Show more]What is strategy? correct answer: An integrated set of goal-directed actions a firm takes to gain and sustain competitive advantage. 
 
What are the 2 business analysis? correct answer: Internal and External. 
 
What are the 3 business strategies? correct answer: 1) Cost, 2) Differentiation, 3) I...
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Add to cartWhat is strategy? correct answer: An integrated set of goal-directed actions a firm takes to gain and sustain competitive advantage. 
 
What are the 2 business analysis? correct answer: Internal and External. 
 
What are the 3 business strategies? correct answer: 1) Cost, 2) Differentiation, 3) I...
Strategic Management correct answer: - integrative management 
- combines: Analysis, Formulation, and Implementation 
- designed to look for a companies competitive advantage 
 
- helps you think like a GM 
 
What is Strategy? correct answer: - to Gain and Sustain Competitive Advantage 
- its a s...
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Add to cartStrategic Management correct answer: - integrative management 
- combines: Analysis, Formulation, and Implementation 
- designed to look for a companies competitive advantage 
 
- helps you think like a GM 
 
What is Strategy? correct answer: - to Gain and Sustain Competitive Advantage 
- its a s...
AFI strategy framework correct answer: A model that links three interdependent strategic management tasks—analyze, formulate, and implement—that, together, help managers plan and implement a strategy that can improve performance and result in competitive advantage. 
 
PESTEL model correct answe...
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Add to cartAFI strategy framework correct answer: A model that links three interdependent strategic management tasks—analyze, formulate, and implement—that, together, help managers plan and implement a strategy that can improve performance and result in competitive advantage. 
 
PESTEL model correct answe...
Corporate Strategy correct answer: The decisions & actions taken to gain & sustain competitive advantage in several industries and markets simultaneously 
 
What does corporate strategy address? correct answer: Where to compete on 3 dimensions: 
 
Industry value chain: vertical integration 
 
Prod...
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Add to cartCorporate Strategy correct answer: The decisions & actions taken to gain & sustain competitive advantage in several industries and markets simultaneously 
 
What does corporate strategy address? correct answer: Where to compete on 3 dimensions: 
 
Industry value chain: vertical integration 
 
Prod...
Corporate Strategy correct answer: The decisions and actions taken to gain and sustain competitive advantage in several industries and markets simultaneously 
 
Corporate Strategy addresses where to compete along what 3 dimensions? correct answer: Industry Value Chain through vertical integration ...
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Add to cartCorporate Strategy correct answer: The decisions and actions taken to gain and sustain competitive advantage in several industries and markets simultaneously 
 
Corporate Strategy addresses where to compete along what 3 dimensions? correct answer: Industry Value Chain through vertical integration ...
At the time when Ellen decided to purchase a tablet computer, the product had just become accessible to the mass market. She did not purchase the tablet until after she was convinced that the benefits it would offer her would far exceed its price. Also, she waited for her friends to try the product ...
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Add to cartAt the time when Ellen decided to purchase a tablet computer, the product had just become accessible to the mass market. She did not purchase the tablet until after she was convinced that the benefits it would offer her would far exceed its price. Also, she waited for her friends to try the product ...
Cooperative Strategy correct answer: means by which firms collaborate to achieve a shared objective 
 
strategic alliance correct answer: a cooperative strategy in which firms combine some of their resources to create CA 
 
joint venture correct answer: a strategic alliance in which two or more f...
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Add to cartCooperative Strategy correct answer: means by which firms collaborate to achieve a shared objective 
 
strategic alliance correct answer: a cooperative strategy in which firms combine some of their resources to create CA 
 
joint venture correct answer: a strategic alliance in which two or more f...
The two business models we reviewed—Industrial Organization and Resource-Based—focus, respectively, on _____ and _____ analysis: correct answer: external; internal 
 
What is the primary objective of a company strategy? correct answer: Achieving sustainable competitive advantage. 
 
Below are ...
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Add to cartThe two business models we reviewed—Industrial Organization and Resource-Based—focus, respectively, on _____ and _____ analysis: correct answer: external; internal 
 
What is the primary objective of a company strategy? correct answer: Achieving sustainable competitive advantage. 
 
Below are ...
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 envi...
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Add to cartIf 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 envi...
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...
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Add to cartThe 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...
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'...
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Add to cartManagers 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'...
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 ...
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Add to cartStrategic 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 ...
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 ...
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Add to cartWhat 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 ...
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 Mo...
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Add to cartmerger 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 Mo...
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 s...
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Add to cartSustainable 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 s...
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 ...
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Add to cartsustainable 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 ...
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 ...
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Add to cartAckbar, 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 ...
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 accom...
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Add to cartSoil 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 accom...
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