455 - Which of the following statements about a company's...

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Which of the following statements about a company's strategy is true? Managers at all companies face three central questions in thinking strategically about their company's present circumstances and prospects: What's the company's present situation? Where does the company need to go from here? How should it get W The competitive moves and business approaches a company's management are using grow the business, attract and please customers, compete successfully, conduct operations, and achieve the targeted levels of organizational performance is referred to as its strategy. W Which one of the following is not related to actions and approaches that comprise a company's strategy? How to prove to shareholders that the company's business model is viable W In committing to a particular strategy, a company's managers are in effect saying Among all the many different business approaches and ways of competing we could have chosen, we have decided to employ this particular combination of competitive and operating approaches in moving the company in the intended direction, strengthening its market position and competitiveness, and boosting performance." W The heart and soul of any strategy is the actions and moves in the marketplace that managers are taking to improve the company's financial performance, strengthen its long-term competitive position, and gain a competitive edge over rivals. W Which of the following is not one of the most frequently used strategic approaches to building competitive advantage? Striving for a competitive edge based on bigger profit margins W A company's strategy and its quest for competitive advantage are tightly related because a company is almost certain to have better profits and financial performance when its strategy produces a competitive advantage over rivals. W A company achieves sustainable competitive advantage when an attractive number of buyers have a lasting preference for its products or services as compared to the offerings of competitors W Which one of the following is not something to look for in identifying a company's strategy? The company's actions to validate and improve upon its business model W Company strategies evolve because of the ongoing need to respond to changing market conditions, advancing technology, the fresh moves of competitors, shifting buyer needs and preferences, emerging market opportunities, new ideas for improving the strategy, and any evidence that indicates the strategy is not working well. W It is normal for a company's strategy to end up being a blend of proactive actions to improve the company's competitiveness and financial performance and as-needed reactions to unanticipated developments and fresh market conditions.
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