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BSG Midterm Exam 1 Questions and Answers
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BSG Midterm Exam 1 Questions and Answers
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BSG Midterm Exam 1A 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.
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 one of the following statements about whether a company's strategy can be considered ethical is
true? - Answer-just keeping a company's strategic actions within the bounds of what is legal does not
mean the strategy is ethical.
Among all the things managers do, nothing affects a company's ultimate success or failure more
fundamentally than - Answer-how well its management team charts the company's direction, develops
competitively effective strategic moves and business approaches, and pursues what needs to be done
internally to produce good day-in/day-out strategy execution and operating excellence.
The difference between a company's strategy and a company's business model is that - Answer-its
strategy is defined by the specific market positioning, competitive moves, and business approaches
management employs to try to produce good business results while its business model relates to
management's blueprint for delivering a valuable product or service to customers in a manner that will
generate revenue sufficient to cover costs and yield an attractive profit.
, Which of the following is NOT one of the reasons that a company's strategy evolves over time? -
Answer-the need on the part of company managers to make regular strategy adjustments so as to keep
rivals off balance and always guessing about what moves it will make next.
A company achieves competitive advantage when - Answer-it has some type of edge over rivals in
attracting buyers and coping with competitive forces.
Which one of the following does NOT account for why a company's strategy evolves over time, as shown
in Figure 1.2 and explained in the accompanying text discussion? - Answer-managerial preferences for
keeping the life-cycle of any given strategy short.
In choosing among strategy alternatives, company managers - Answer-are well-advised to embrace
strategic actions that can pass the test of moral scrutiny -- it is not enough to just stay within the bounds
of what is legal and is in compliance with prevailing government regulations.
A company's strategy evolves from one version to the next - Answer-as managers abandon obsolete or
ineffective strategy elements, settle upon a set of proactive strategy elements, and then -- as new
circumstances unfold -- make adaptive strategic adjustments, which gives rise to reactive strategy
elements.
According to Figure 1.1, which of the following is NOT something to look for in identifying a company's
strategy? - Answer-actions to strengthen the company's competitive position by hiring one or more new
top executives or laying off a portion of its work force or paying down its long-term debt.
The two crucial elements of a company's business model are - Answer-its profit proposition or "profit
formula" and its customer value proposition.
Which one of the following questions can be used to distinguish a winning strategy from a mediocre or
losing strategy? - Answer-how well does the strategy fit the company's situation?
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