ch5 - ch5 Student: _ The Concepts of Competitive Strategy...

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ch5 Student: ___________________________________________________________________________ The Concepts of Competitive Strategy and Competitive Advantage 1. A company's competitive strategy deals with A. Management's game plan for competing successfully—the specific efforts to please customers, offensive and defensive moves to counter the maneuvers of rivals, the reactions and responses to whatever market conditions prevail at the moment and the initiatives undertaken to improve the company's market position distribution, finance and accounting and so on C. Its efforts to change its position on the industry's strategic group map D. Its plans for entering into strategic alliances, utilizing mergers or acquisitions to strengthen its market position, outsourcing some in-house activities to outside specialists and integrating forward or backward E. Its plans for overcoming the five competitive forces 2. The objective of competitive strategy is to A. Contend successfully with the industry's 5 competitive forces B. Knock the socks off rival companies by doing a better job of satisfying buyer needs and preferences C. Get the company into the best strategic group and then dominate it D. Establish a competitively powerful value chain E. Grow revenues at a faster annual rate than rivals are able to grow their revenues 3. A company achieves competitive advantage whenever A. It is the acknowledged market share leader B. It is the industry's acknowledged technology leader C. It has greater financial resources than its rivals D. It has a well-known and well-regarded brand name, prefers offensive strategies to defensive strategies and has a strong balance sheet E. It has some type of edge over rivals in attracting customers and coping with competitive forces 4. A company can be said to have competitive advantage if A. It is the acknowledged leader in product quality B. It has a different value chain than rivals C. It has some type of edge over rivals in attracting customers and coping with competitive forces D. It earns the largest profits of any firm in the industry E. It has more resource strengths than weaknesses 5. While there are many routes to competitive advantage, they all involve A. Building a brand name image that buyers trust B. Delivering superior value to buyers and building competencies and resource strengths in performing value chain activities that rivals cannot readily match C. Achieving lower costs than rivals and becoming the industry's sales and market share leader D. Finding effective and efficient ways to strengthen the company's competitive assets and to reduce its competitive liabilities E. Getting in the best strategic group and dominating it 1
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The Five Generic Competitive Strategies 6. The biggest and most important differences among the competitive strategies of different companies boil down to A. How they go about building a brand name image that buyers trust and whether they are a risk-taker or
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This note was uploaded on 08/19/2010 for the course FINANCE 600 taught by Professor Norkle during the Fall '09 term at Methodist.

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ch5 - ch5 Student: _ The Concepts of Competitive Strategy...

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