strategic management 5th edition by frank rothaermel
test bank strategic management 5th edition by frank rothaermel chapter 1 12
Connected book
Book Title:
Author(s):
Edition:
ISBN:
Edition:
More summaries for
Test Bank Strategic Management 5th Edition by Frank Rothaermel Chapter 1-12 Complete Fully Covered A+ Guide ISBN:9781260571233 Newest Version 2024 Instant Pdf Download
Test Bank Strategic Management 5th Edition by Frank Rothaermel Chapter 1-12|Complete Guide A+
Test Bank for Strategic Managaement, 5th Edition by Rothaermel, 9781260261288, Covering Chapters 1-12 | Includes Rationales
All for this textbook (11)
Written for
Business
All documents for this subject (771)
6
reviews
By: 4bblair • 7 months ago
By: solutions • 7 months ago
Why one star? This document has been purchased many times and appreciated by everyone. If you forgotten please edit the ratings.
By: collegebrah08 • 1 year ago
By: marlamanon • 1 year ago
By: isrankisi • 1 year ago
By: ninibearz • 1 year ago
By: Seth751 • 1 year ago
Helpful
Seller
Follow
solutions
Reviews received
Content preview
Chapter 1
Student name::__________
Answers are at the end of each chapter
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) A good strategy is a set of actions that enables a firm to achieve its own internal goals
without regard to the external environment.
⊚ true
⊚ false
2) The following statement by the chief executive of GoFlix movie studio is an effective
strategy: “We will produce the greatest films of the 21st century.”
⊚ true
⊚ false
3) The three tasks of the AFI strategy framework are to Assemble a prototype, Find a buyer,
and Incorporate feedback.
⊚ true
⊚ false
4) Questions asked during the strategy analysis stage of the AFI framework include “How
does the firm make money?” and “What effects do forces in the external environment have on
the firm’s potential to gain and sustain a competitive advantage?”
Version 1 1
, ⊚ true
⊚ false
5) Once a strategy has been formulated and implemented, it is important that the firm sticks
to it no matter what happens.
⊚ true
⊚ false
6) Because they are a crucial component of a firm’s success, customers are considered
internal stakeholders.
⊚ true
⊚ false
7) A firm is required by society and its shareholders to meet its ethical and philanthropic
responsibilities.
⊚ true
⊚ false
8) Under the strategy as a planned emergence model, even entry-level employees can help
generate strategic initiatives.
Version 1 2
, ⊚ true
⊚ false
MULTIPLE CHOICE - Choose the one alternative that best completes the statement or
answers the question.
9) Tommy wants to open his own food truck but doesn’t know anything about business. He
needs help determining who his competition is, how he should craft his strategy to compete and
how he’ll implement his strategy to achieve a competitive advantage. He’s hired you to help him
get started. As a result, you know that you will probably use the
A) AFI strategy framework.
B) business model analysis.
C) Six Sigma tool.
D) Stakeholder Impact analysis.
10) Jill is interested in the concept of strategy and decides to create her own. As a result, Jill
says that her strategy is to focus on growth and marketing to achieve competitive advantage.
How would you evaluate Jill’s statement?
A) Jill’s strategy makes sense and she should move forward with it.
B) Jill’s strategy reveals a clear strategic position and tradeoff, so she should proceed.
C) Jill should reevaluate her statement because it fails to mention human resources and
finance.
D) Jill should reevaluate her statement because it fails to meet the principles of what a
strategy should be.
Version 1 3
, 11) Tony’s Pizza Shop is able to net $10,000 a week; this makes his shop profitable. His
number one competitor, Leo’s Pies is also profitable, netting $12,000 a week. Lil Anthony’s
Pizza Palace nets $13,000 a week. Since Tony’s Pizza Shop is profitable, we can conclude that
he has a competitive advantage in the industry.
A) True—competitive advantage is achieved through profitability alone.
B) True—competitive advantage is achieved since Tony has a positive net income.
C) False—competitive advantage is only achieved by generating above average returns,
relative to competition.
D) False—Tony more than likely has a sustained competitive advantage since he’s been
in business longer.
12) Bill’s Auto & Airplane Repair shop is able to generate a positive net income of $10,000 a
week; this is the industry average. We can conclude that since he has a positive net income, he
also has a competitive parity in the industry.
A) Correct—competitive advantage is achieved through profitability alone.
B) Correct—competitive advantage is achieved since Bill’s Auto & Airplane Repair
shop has a positive net income.
C) Correct—competitive parity is achieved by generating average returns, relative to
competition in a given industry.
D) Incorrect—Bill’s Auto & Airplane Repair shop more than likely has a sustained
competitive advantage since his business is diversified.
13) In order to better achieve a competitive advantage, firms must now adopt a holistic
approach towards satisfying multiple stakeholders opposed to focusing on the needs of their
stockholders. This integrative approach is referred to as
A) stakeholder strategy.
B) internal shareholder strategy.
C) integration strategy.
Version 1 4
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller solutions. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.49. You're not tied to anything after your purchase.
