Question Pool 1

Question Pool 1 - Question Pool: Strategic Management, 12e...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Question Pool: Strategic Management, 12e (Thompson) Chapter 01 1. A company's strategy concerns a. its market focus. b. how it plans to make money. c. the game plan management is using to stake out a market position, conduct operations, attract and please customers, compete successfully, and achieve organizational objectives. d. the long-term direction that management has chosen to pursue. e. whether it is employing an aggressive offense to gain market share or a conservative defense to protect its market position. 2. 3. The game plan a company's management is using to stake out a market position, conduct operations, attract and please customers, compete successfully, and achieve organizational objectives is referred to as its a. strategy. b. business model. c. strategic vision. d. long-term business mission. e. strategic objective. 4. 5. A company's business model a. concerns the game plan a company's management is using to stake out a market position, conduct operations, attract and please customers, compete successfully, and achieve organizational objectives. b. deals with the revenue-cost-profit economics of its strategy management's plan for making money in a particular line of business. c. concerns what combination of competitive moves it plans to make to outmaneuver its rivals. d. deals with how it can simultaneously maximize profits and operate in a socially responsible manner that keeps its prices as low as possible. e. concerns how to balance strategic objectives against financial objectives. 6. 7. A company's business model a. concerns whether management's strategy will permit the achievement of the company's strategic objectives. b. deals with the whether there is a close fit between the company's business mission and strategy. c. deals with whether the revenues and costs flowing from the company's strategy demonstrate that the business is viable from the standpoint of generating acceptable profits.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
d. concerns how a company plans to achieve high gross profit margins. e. concerns how to achieve the strategic vision in the shortest period of time. 8. 9. Management's plan for making money in a particular line of business and the revenue-cost-profit economics of the company's strategy is a. called a company's strategy. b. referred to as a company's primary strategic objective. c. referred to as a company's primary financial objective. d. a company's foremost business mission and business priority. e. referred to as a company's business model. 10. 11.The difference between a company's strategy and a company's business model is that a. a company's strategy is the plan for achieving strategic objectives while its business model is the plan for achieving financial objectives. b.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 10/02/2011 for the course FIN 685 taught by Professor Grady during the Spring '11 term at Texas A&M.

Page1 / 17

Question Pool 1 - Question Pool: Strategic Management, 12e...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online