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BSG Final Exam Review Questions and Answers
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BSG Final Exam Review Questions and Answers
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BSG Final Exam ReviewA company's strategy - Answer-Represents managerial commitment to undertake one set of actions
rather than another in an effort to compete successfully and achieve good performance outcomes
Which of the following questions helps distinguish a winning strategy from a mediocre or losing strategy
- Answer-Is the strategy helping the company achieve a sustainable competitive advantage and is it
resulting in goo company performance?
In crafting a company's strategy - Answer-Managers need to come up with some distinctive "aha"
quality that goes beyond merely attracting buyer attention but that, more importantly, delivers what
buyers perceive as superior value and converts them in to loyal customers
A company's strategy is a "work in progress" and evolves over time because of - Answer-The need to
react and respond to changing market and competitive conditions and ongoing management efforts to
improve this or that piece of the strategy
It is normal for a company's strategy to end up being - Answer-A blend of proactive actions to improve
the company's competitiveness and financial performance and as-needed reactions to unanticipated
developments and fresh market conditions
, The two crucial elements of a company's business model are - Answer-It's profit proposition or "profit
formula" and its customer value proposition
Which of the following is not a frequently used strategic approach to setting a company apart from
rivals, delivering superior value, achieving competitive advantage, and converting buyers into loyal
customers? - Answer-Striving to be more profitable than rivals and aiming for a competitive edge based
on bigger profit margins
A company's strategy can be considered "ethical" - Answer-If it does not entail actions or behaviors that
cross the moral line from "should or can do" to "should not do"
Which of the following is not something to look for in identifying a company's strategy? - Answer-
Actions to boost the compay's credit rating and stock price
The difference between a company's strategy and a company's business model is that - Answer-Strategy
relates broadly to a company's competitive moves and business approaches (which may or may not lead
to profitability) while its business model relates to whether the company can execute its customer value
proposition profitably
There are many routes to competitive advantage, but they all involve - Answer-Providing buyers with
what they perceive as superior value compared to the offerings of rival sellers
Which of the following statements about a company's strategy is false? - Answer-Well-crafted company
strategies rarely need to be changed unless one or more important rival firms launch unexpected
strategic initiatives that endanger the company's strategy long-term profitability
The customer value proposition portion of a company's business model concerns - Answer-The
company's approach to satisfying buyer needs and requirements at a price they will consider a good
value
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