QUIZ 4 1.By stating its intention to "To be the world's leading sports and fitness company," Nike is articulating its ________. • action plan • mission statement • global forecast • marketing target 2. The concept of ________ is the ability of a firm to provide value to customers that exceeds what competitors can provide. • strategic management • distinctive competence • competitive advantage • core competence 3. Crystal is a vintage champagne, meaning that the champagne is made in the best years for wine production and all grapes used to make the wine are harvested in the same year. No other champagne can match this quality. Crystal has a ________. • consistent advantage • competitive advantage • strategic vision • production advantage 4. To succeed when pursuing a ________, there must be significant differences among the firm's target customers or among geographical segments of its customers. • focus strategy • global strategy • leveraged strategy • competitive strategy 5. The ________ component of the value chain consists of activities that are designed to receive, store, and then disseminate various inputs related to the firm's products or services. • procurement • inbound logistics • operations • service
6.In the cut-flower industry, fresh flowers must be available to customers as soon as possible after they have been harvested. On which of the following activities in the value chain does this places a premium? • service • procurement • operations • outbound logistics 7. Rainbow Education is a company that decides to enter the commercial education market by purchasing a small company that prepares students to take high-stakes tests. How is the company choosing to enter this new market? • by acquisition • by organic growth • by strategic alliance • by leveraging core competencies 8. Which one of the following is necessary if a firm is to maintain a competitive advantage? • winning consistently over the short term in a competitive situation • charging a higher price than what competitors charge • reproducing the successful actions of competitors • providing products and services of a superior value than those of competitors 9. The final step in the strategic management process is ________. • performance • evaluation • internal analysis • monitor the outcome 10. Which of the following is true about cost leadership strategy?
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- Fall '09