MidtermMultiple - BUS5480 Strategic Management Term Summer...

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Test Review - LUTHER SETZER Your test grade is 88 % The professor has configured this test to allow students to review : Questions answered incorrectly . Questions answered correctly . Students answers . Correct answers . QUESTION 1 [QUESTION BANK ID: 96122] TYPE: MULTIPLE CHOICE CORRECT In identifying an industry ' s key success factors , strategists should Try to single out all factors which play a major role in shaping whether buyer demand grows rapidly or slowly Consider on what basis customers choose between competing brands , what resources and competitive capabilities firms need to be competitively successful , and what shortcomings are almost certain to put a company at a significant competitive disadvantage Consider whether the number of strategic groups is increasing or decreasing , and whether the five competitive forces are powerful or relatively weak Consider what it will take to overtake the company with the industry ' s overall best strategy Focus their attention on what it will take to capitalize on impacts of the industry ' s driving forces QUESTION 2 [QUESTION BANK ID: 101112] TYPE: MULTIPLE CHOICE CORRECT The obligations of an investor - owned company ' s board of directors in the strategy - making , strategy - executing process include Coming up with compelling strategy proposals of their own to debate against those put forward by top management Taking the lead in formulating the company ' s strategic plan , but then delegating the task of implementing and executing the strategic plan to the company ' s CEO and other senior executives Taking the lead in developing the company ' s business model and strategic vision A B C D E A B C BUS 5480 - Strategic Management Term : Summer 2 2011 | Student Access : 7 . 4 . 2011 12 : 00 AM EDT - 8 . 28 . 2011 11 : 59 PM EDT | Section : 2
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Overseeing the company ' s financial accounting and financial reporting practices , and evaluating the caliber of senior executives ' strategy - making , strategy - executing skills Approving the company ' s operating strategies , functional - area strategies , business strategy , and overall corporate strategy QUESTION 3 [QUESTION BANK ID: 79077] TYPE: MULTIPLE CHOICE CORRECT A company attempting to be successful with a broad differentiation strategy has to Study buyer needs and behavior carefully to learn what buyers consider important , what they think has value , and what they are willing to pay for Incorporate more differentiating features into its product / service than rivals Concentrate its differentiating efforts on marketing and advertising ( where almost all differentiating features are created ) Have a widely known and highly respected brand name image Provide a top - of - the - line product and sell it at premium prices QUESTION 4 [QUESTION BANK ID: 108917] TYPE: MULTIPLE CHOICE INCORRECT Excellent execution of an excellent strategy is The best test of whether a company is a " true " industry leader A solid indication that managers are maximizing profits and
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MidtermMultiple - BUS5480 Strategic Management Term Summer...

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