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Globus Final Exam Questions And Accurate Answers
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Globus Final Exam Questions And Accurate AnswersThe difference between a company's strategy and a company's business model is that -
Answer Its strategy defined by the particular market positioning, competitive moves,
and business approaches management employs in trying to produce good business
results while its business model pertains to management's blueprint for delivering a
valuable product or service to customers in a way that will generate revenues sufficient
to cover costs and yield an attractive profit.
A winning strategy is one that-Answer suits the company's internal and external
situation, enhances company performance, as well as contributing to realizing
sustainable competitive advantage.
Ordinarily, a company's strategy is - Answer the combination of (1) aggressive moves to
enhance the company's financial performance and gain a competitive advantage, as
well as (2) required responses to unanticipated events and new market circumstances
A business model represents management's strategy for how the enterprise will deliver
a valuable product or service to customers in a way that generates sufficient revenue to
cover costs and provide an attractive profit.
A firm achieves sustainable competitive advantage when-answer an attractive number
of buyers are attracted to buy its products or services than those of competitors and
also when the cause of preference is durable, in spite of competitors attempting to
nullify or overcome the appeal of its product offering.
What makes a competitive advantage sustainable or durable as opposed to temporary -
Answer are actions or elements in a company's strategy that cause an attractive
number of buyers to have lasting reasons to purchase the company's products or
services, despite competitor's best efforts to nullify or overcome those reasons
In choosing among strategy alternatives, company managers - Answer are well advised
to embrace actions strategic actions that can pass the test of moral scrutiny-- it is not
,enough to just stay within the boards of what is legal and is in compliance with
prevailing government regulations
Two critical components of a firm's business model are - Answer its profit proposition or
"profit formula" and its customer value proposition
Which of the following is NOT something a company's strategy is concerned with? -
Select choice Management's choice of which of several alternative business models to
employ in delivering value to customers and to shareholders
The reputational and financial harm that unethical strategies and actions can inflict on a
company - Answer is significant; thus, there are sound business reasons for a company
and its employees to refrain from unethical strategic actions and behavior
Which of the following is not something to look for in identifying a company's strategy? -
Answer Actions to increase the company's earnings per share and stock price
According to Figure 1.1
Evolution of strategy overtime is due to the change in circumstances and also due to the
continuous managerial efforts made with an aim of improving the strategy. Explain why
a company's strategy evolves over time and also why the job of formulating a company's
strategy is a work that is in progress and not just an one-time event.
The strategies define the competitive moves and business approaches management is
employing in its effort to attract and please customers, compete successfully, grow the
business, and respond to changing market conditions, conduct operations, and achieve
the targeted financial and market performance targeted. - Answer strategy
Crafting and executing strategy are the most important tasks of top managers
because-Answer how well a company performs and the degree of market success it
achieves are directly attributable to the caliber of its strategy and the proficiency with
which the strategy is executed.
Which of the following statements about a company's strategy is not true? - Answer
, top-management keeps the strategy of a company in secrecy so that the same may
catch the rival companies off guard.
Stitching together a strategy - Answer means dealing with a series of hows such as: how
to attract and please customers, how to compete against rivals, how to position the
company in the marketplace vis-avis rivals, how best to pursue attractive opportunities
to grow the business, how best to respond to changing economic and market
conditions, how to manage each functional piece of the business and finally, how to
achieve the company's strategic and financial objectives.
For an investor-owned company, the responsibilities of the board of directors in the
strategy-making, strategy-executing process include - Answer monitoring the
company's financial accounting and financial reporting practices and establishing an
executive compensation plan
A company's values, or core values, relate to - Answer the principles, characteristics,
and behavioral expectations that company employees are to exhibit when carrying out
the company's operations and implementing its strategic vision and mission
Managerial jobs with strategy-making responsibility - Answer exist at many levels of the
organizational structure of a large corporation when its operations cut across different
products, industries, and geographical areas
Operating strategies concern - Answer the relatively narrow strategic initiatives and
approaches for managing key operating units (plants, distribution centers, geographic
units) and specific operating activities with strategic significance (quality control,
advertising, brand-building efforts, supply chain-related activities, and website
operations)
Which of the following methods of setting targets must be at all cost be avoided -
Answer Setting targets that have no negative consequences for organization members
in case actual performances fall short of targeted performance
Which one of the following is not something that company managers should consider in
charting a company's future direction as shown in Table 2.1? - Answer Does the
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