Glo-Bus Chapter 1 Exam Questions and Answers Latest Update 2024 (Graded A+)
Which of the following statements about whether a company's strategy can be considered ethical is true? - Answers Just keeping a company's strategic actions within the bounds of what is legal does not mean that all of its ...
Which of the following statements about whether a company's strategy can be considered ethical is
true? - Answers Just keeping a company's strategic actions within the bounds of what is legal does not
mean that all of its strategic actions are also ethical.
A company's strategy is defined by - Answers The specific market positioning, competitive moves, and
business approaches that form management's answer to "What's our plan for running the company and
producing good results?"
It is normal for a company's strategy to end up being - Answers 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.
A winning strategy is one that - Answers helps the company achieve a sustainable competitive
advantage, results in better company performance and fits the company's internal and external situation
Which of the following is NOT one of the reasons that a company's strategy evolves over time - Answers
The deliberately planned efforts of company managers to make frequent strategy adjustments that will
surprise rivals and keep them busily engaged in defending against its latest moves in the marketplace
How well a company performs and the degree of market success it achieves are directly attributed to -
Answers the caliber of its strategy and the proficiency with which the strategy is executed
The customer value proposition portion of a company's business model concerns - Answers The
company's approach to satisfying buyer needs and requirements at a price they will consider a good
value
The difference between a company's strategy and a company's business modal is that - Answers 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
A creative, distinctive strategy that sets a company apart from rivals and delivers superior value to
customers - Answers is a company's most reliable ticket to winning a competitive advantage over rivals
A company achieves competitive advantage when - Answers it has some type of edge over rivals in
attracting buyers and coping with competitive forces
In crafting a company's strategy - Answers managers need to come up with some distinctive "aha"
quality that goes beyond merely attracting buyers attention, but that, more importantly, delivers what
buyers perceive as superior value and converts them into loyal customers.
According to Figure 1.1 which of the following is not something to look for in identifying a company's
strategy? - Answers Actions to strengthen the company's competitive position by laying off a portion of
its work force of paying down its long term debt
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