A company's business model Correct Ans ➡ sets forth how its strategy and operating approaches will create value for customers while at the
... [Show More] same time generating ample revenues to cover costs and realize a profit
The two crucial elements of a company's business model are Correct Ans ➡ its customer value proposition and its profit proposition or "profit formula"
Which of the following is not a frequently used strategic approach to setting a company apart from rivals, delivering superior value, achieving competitive advantage, and converting buyers into loyal customers? Correct Ans ➡ Striving to be more profitable than rivals and aiming for a competitive edge based on bigger profit margins
Which one of the following does not account for why a company's strategy evolves over time, as shown in Figure 1.2 and explained in the accompanying text discussion? Correct Ans ➡ Managerial preferences for keeping the life-cycle of any given strategy short
According to Figure 1.1, which of the following is not something to look for in identifying a company's strategy? Correct Ans ➡ Actions to boost the company's credit rating and stock price
A winning strategy is one that Correct Ans ➡ results in a company becoming the dominant industry leader
Typically, a company's strategy is Correct Ans ➡ a blend of (1) proactive actions to improve the company's financial performance and secure a competitive edge and (2) as needed reactions to unanticipated developments and fresh market conditions
Which one of the following statements about whether a company's strategy can be considered ethical is true? Correct Ans ➡ Just keeping a company's strategic actions within the bounds of what is legal does not mean the strategy is ethical
A company achieves sustainable competitive advantage when Correct Ans ➡ an attractive number of buyers are drawn to purchase its products or services rather than those of competitors, despite the efforts of competitors to nullify or overcome the appeal of its product offering
Which of the following is not one of the reasons that a company's strategy evolves over time? Correct Ans ➡ The need on the part of company managers to make [Show Less]