Final Capstone Exam UPDATED Exam Questions and CORRECT Answers
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Course
Capstone
Institution
Capstone
Final Capstone Exam UPDATED Exam
Questions and CORRECT Answers
Good Competitive Intelligence about rivals' strategies, their financial performance, their
competitive strengths and weaknesses, the actions and plans they have announced and the
thinking and leadership styles of their executives...
Final Capstone Exam UPDATED Exam
Questions and CORRECT Answers
Good Competitive Intelligence about rivals' strategies, their financial performance, their
competitive strengths and weaknesses, the actions and plans they have announced and the
thinking and leadership styles of their executives is valuable because... - CORRECT
ANSWER- It enables a company to predict or anticipate what important actions rivals are
likely to take next to be ready with defensive countermoves and to take rivals probable
actions into account in crafting its own best course of action
Determining whether an industry presents a company with good prospects for attractive
profitability and growth entails such considerations as... - CORRECT ANSWER- The
industry's growth potential, the anticipated strength of competitive forces, whether industry
profitability is expected to be favorably or unfavorably affected by the prevailing driving
forces and the degrees of risk and uncertainty in the industry's future.
Which of the following statements concerning the strength of supplier bargaining power is
false? - CORRECT ANSWER- Supplier bargaining power is stronger when industry
members are major customers and continuing to secure their business is important to
suppliers well-being.
Which of the following is NOT an integral part of driving forces analysis? - CORRECT
ANSWER- Determining whether the driving forces are acting to cause one or more industry
rivals to shift to a different strategic group.
A strategic group map displays... - CORRECT ANSWER- The different market or
competitive positions that rival firms occupy in an industry and helps identify each rival's
closest competitors.
The competitive pressures from substitute products tend to be stronger when..... - CORRECT
ANSWER- Substitutes are readily available and attractively priced, and have comparable or
better performance features.
Which of the following conditions acts to diminish buyer bargaining power? - CORRECT
ANSWER- When there are big differences among the features, performance, and quality of
rival brands such that many buyers come to prefer the brand most suitable to their preferences
and pocketbook.
,Which of the following statements about the rivalry among competing sellers is true? -
CORRECT ANSWER- Rivalry increases as the products of rival sellers become less
differentiated and weakens as the products of industry rivals become more strongly
differentiated.
An Industry's key success factors... - CORRECT ANSWER- are those competitive factors
that most affect industry members' ability to prosper in the marketplace-the particular strategy
elements, product attributes, important resources and competitive capabilities, an market
achievements that spell the difference between being a strong competitor and a weak
competitor.
Which one of the following does NOT represent market circumstances that make a focused
low-cost or focused differentiation strategy attractive? - CORRECT ANSWER- When buyers
are not strongly brand loyal buyer needs and uses of the industry's product/service are diverse
and change occurs at a slow pace.
Broad differentiation strategies generally work best in market circumstances where... -
CORRECT ANSWER- Few rival firms are following a similar differentiation approach.
To profitably employ a best-cost provider strategy, a company must.... - CORRECT
ANSWER- have the capability to incorporate upscale attributes (appealing features or
functionality or quality, or satisfying customer service) into its product offering at a lower
cost than rivals, putting the company in position to underprice rivals whose products have
similar upscale attributes and still earn attractive profits.
The pitfalls of a differentiation strategy do NOT include... - CORRECT ANSWER- Failing to
emphasize and aggressively pursue the use of more value drivers than other rivals employing
a broad differentiation strategy.
In which of the following instances is a low-cost provider strategy least likely to be appealing
and competitively powerful? - CORRECT ANSWER- When most buyers use the product in
different ways and buyers incur high costs in switching their purchases from one seller to
another.
Best cost provider strategies are appealing in those market situations where.... - CORRECT
ANSWER- product differentiation is the norm and attractively large numbers of buyers
shopping for the best value for the money can be induced to purchase midrange products
rather than the cheap basic products of low-cost producers or the expensive products of top-
of-the-line differentiators.
, The two major avenues for achieving a cost advantage over rivals include.... - CORRECT
ANSWER- revamping the firm's value chain to eliminate or bypass some cost producing
activities and doing a better job than rivals of performing value chain activities more cost
effectively.
The evolving character of a company's strategy is a consequence of..... - CORRECT
ANSWER- abandoning the strategy elements that are no longer working well, initiating some
newly crafted strategy elements to boost financial performance or pursue competitive
advantage and the ongoing need to make some strategy adjustments in response to shifting
market conditions and other unanticipated developments.
A company's strategy qualifies as "ethical".... - CORRECT ANSWER- if it does not entail
actions or behaviors that cross the moral line from "can do" to "should not do" (because such
actions are deceitful, unfair or harmful to others, disreputable or unreasonably damaging to
the environment).
A company's business model.... - CORRECT ANSWER- Consists of both a customer value
proposition and a profit proposition.
What makes a competitive advantage sustainable or durable as opposed to temporary is..... -
CORRECT ANSWER- actions or elements in the strategy that cause an attractive number of
buyers to have lasting reasons to purchase a company's products or services, despite
competitors' best efforts to overcome or nullify those reasons.
Crafting and executing strategy are top-priority managerial tasks because..... - CORRECT
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.
A company's strategy consists of.... - CORRECT ANSWER- the competitive moves and
business approaches that managers employ to attract and please customers, compete
successfully, pursue opportunities to grow the business, respond to changing market
conditions, conduct operations and achieve the targeted financial and market performance.
A company's strategic vision - CORRECT ANSWER- describes the route a company intends
to take in developing and strengthening its business, it lays out the company's strategic course
in preparing for the future.
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