In crafting a company's strategy, - ✔✔managers need to come up with some
distinctive "aha" quality that goes beyond merely attracting buyer attention but
that, more importantly, delivers what buyers perceive as superior value and
converts them into loyal customers
The competitive moves and business approaches a company's management is
using 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 is what
defines a company's - ✔✔strategy
Good strategy combined with good strategy execution - ✔✔are strongly
correlated with how well the company performs both financially and in
the marketplace
,In choosing among strategy alternatives, company managers - ✔✔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
Which one of the following is not one of the five tasks that comprise the strategy-
making, strategy-executing process? - ✔✔Developing a profitable business model
A company's strategic vision - ✔✔delineates management's aspirations for the
business, providing a panoramic view of "where we are going" and a
convincing rationale for why this makes good business sense for the company
Which one of the following questions is not something that company managers
should consider in choosing to pursue one strategic course or directional path
versus another? - ✔✔Do we have a better business model than key rivals?
, Which of the following is not a common shortcoming of company vision
statements? - ✔✔Too narrow--doesn't leave enough room for future growth,
new ideas, and innovation
A company's mission statement typically addresses which of the following
questions? - ✔✔"Who are we, what do we do, and why are we here?"
The task of effectively communicating the strategic vision to organization
members is made easier by - ✔✔capturing the essence of the vision in an
easily remembered phrase or catchy slogan and then using the phrase/slogan
repeatedly as a reminder of "where we are going and why."
At companies where the stated values are real rather than cosmetic, company
managers can connect the stated values to pursuit of the strategic vision and
mission by - ✔✔crafting a vision, mission, strategy, and set of operating
practices that match established values and repeatedly emphasizing how the
values-based behavioral norms contribute to the company's business success
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 Examsplug. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
