BSG Exam 1 With 100% Correct And Verified Answers
Industry conditions
Competitive pressures
Market standing vis-à-vis rivals
Competitive strengths and weaknesses - Correct Answer-What is the firm's present situation?
New buyer needs to satisfy
•Growth opportunities to pursue
•Market...
Industry conditions
Competitive pressures
Market standing vis-à-vis rivals
Competitive strengths and weaknesses - Correct
Answer-What is the firm's present situation?
New buyer needs to satisfy
•Growth opportunities to pursue
•Markets to deemphasize or abandon
•How to measure success - Correct Answer-What
direction to head and what performance targets to
set?
Strategy for competing successfully
How to attract customers
Deciding what market position to stake out
Actions to achieve performance targets - Correct
Answer-How to run the firm in ways that produce
good results?
Firm's Strategy - Correct Answer-A coherent
combination of actions and approaches about how
to run the company
How to attract, please, and retain customers
How to compete against rivals
How to capitalize on growth opportunities
How to respond to changing economic and market
conditions
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,How to manage the functional pieces of the
business
How to achieve the firm's performance targets -
Correct Answer-Firm's strategy
compete differently from rivals - Correct Answer-
The Key to Crafting a "Good" Strategy
Become the low-cost provider
Offer differentiating features
Offer customers more value for the money
Focus on better serving the unique needs and
tastes of buyers in a niche market
Develop expertise, resources, and capabilities that
are competitively valuable and that rivals cannot
easily overcome - Correct Answer-Strategic
Approaches to Building Sustainable Competitive
Advantage
valuable - Correct Answer-One of the competitive
advantage is to develop expertise, resources, and
capabilities that are competitively ---- and that
rivals cannot easily overcome
Actions to enter new geographic or product
markets or to exit existing ones.
Actions to strengthen competitiveness via strategic
alliance and collaborative partnership
Actions to strengthen market standing and
competitiveness by acquiring or merging with other
companies - Correct Answer-Identifying a
Company's Strategy—What to Look For
Changing market conditions
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, ►Advancing technology
►Fresh moves of competitors
►Shifting buyer needs and preferences
►Emerging market opportunities
►New ideas for improving the strategy
►Evidence that the current strategy is not working
well - Correct Answer-Why a Company's Strategy
Evolves over Time?
morally objectionable
deceitful
unfair or harmful to others
disreputable
or unreasonably damaging to the environment. - Correct Answer-
To meet the standard of being ethical, a strategy must entail actions
that can pass moral scrutiny in the sense of not being---
A legal strategic - Correct Answer-----action or business approach
does not mean it is ethical or morally acceptable.
"Right" versus "wrong", "moral" versus" immoral"
►Not crossing the line from "should do" to "should not do"
►"Within the bounds of acceptability" versus "outside the bounds
of acceptability"
►Many strategic actions fall in a gray zone and can be deemed
ethical or unethical depending on how high one sets the bar for what
qualifies as ethical behavior. - Correct Answer-Ethical standards
are about
Deals with the firm's competitive initiatives and business
approaches - Correct Answer-A firm's strategy
Concerns whether the revenues and costs flowing from the strategy
demonstrate the firm can be profitable and viable - Correct Answer-
A firm's business model
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