chapter 1 - Your Results The correct answer for each...

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Your Results: The correct answer for each question is indicated by a . 1 INCORRECT 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 E) strategy. 2 INCORRECT Which one of the following is not related to actions and approaches that comprise a company's strategy? A) How to take advantage of growth opportunities B) How to prove to shareholders that the company's business model is viable 3 INCORRECT In answering the question, "How are we going to get there?" management must have deliberate plans for addressing such issues as B) changing market conditions, development of internal capabilities and competencies, and allocation of financial resources. 4 CORRECT Which of the following is not an element of a company's business strategy? C) Management actions to revise the company's financial and strategic performance targets 5 INCORRECT Which of the following is not one of the most frequently used strategic
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approaches to building competitive advantage? A) Striving for a competitive edge based on bigger profit margins 6 CORRECT The most important aspect of a company's business strategy A) is the linkage with its business model. B) is its ability to increase shareholder value. C) is its approach to competing in the marketplace. 7 UNANSWERED Strategies that yield sustainable competitive advantage is important because A) increases in shareholder value are contingent on a sustainable competitive advantage. B) a strategy that yields a competitive advantage over rivals is a company's most reliable means of achieving above-average profitability and financial performance. C) competitive advantage forms the underpinnings of a company's strategic vision. D) a competitive advantage is what enables a company to achieve its strategic objectives. E) All of these. 8 INCORRECT A company achieves sustainable competitive advantage when E) an attractive number of buyers have a lasting preference for its products or services as compared to the offerings of competitors. 9 UNANSWERED A strategy that sets a company apart from rivals and that gives it a sustainable competitive advantage A) is a company's most reliable ticket to above-average profitability.
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