12e_TB_Chap_8

Strategic Management: Creating Competitive Advantages

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Chapter 08 - Business Strategy Chapter 08 Business Strategy Multiple Choice Questions 1. (p. 215) The two most prominent sources of competitive advantage for a business are: A. Integration and coordination B. Cost and differentiation C. People and products D. Products and services Difficulty: Medium Learning Objective: 1 2. (p. 215) Which of the following are often referred to as generic strategies? A. Cost leadership and differentiation B. Market leadership and differentiation C. Cost leadership and product pricing D. Differentiation and value chain analysis Difficulty: Medium Learning Objective: 1 3. (p. 216) Which of these refers to business strategies that seek to establish long-term competitive advantages by emphasizing and perfecting value chain activities that can be achieved at costs substantially below what competitors are able to match on a sustained basis? A. Differentiation strategies B. Grand strategies C. Low-cost strategies D. Speed-based strategies Difficulty: Easy Learning Objective: 1 8-1
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Chapter 08 - Business Strategy 4. (p. 218) Which of the following is NOT a skill or a resource that fosters cost leadership? A. Strong downstream partners B. Process engineering skills C. Low-cost distribution system D. Sustained capital investment and access to capital Difficulty: Medium Learning Objective: 1 5. (p. 218) Organizational requirements to support and sustain cost leadership are: A. Subjective measurements and incentives B. Tradition of closeness to key customers C. Frequent, detained control reports D. Some personnel skilled in sales and operations Difficulty: Medium Learning Objective: 1 6. (p. 218) Common resource, skills and organizational requirements to support an "overall cost leadership" generic strategy include all but: A. Sustained access to capital B. Subjective measurement and incentives instead of quantitative measures C. Process engineering skills D. Tight cost control Difficulty: Medium Learning Objective: 1 8-2
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7. (p. 219) Which one of the following is NOT a key risk associated with a cost leadership oriented business strategy? A. Many cost-saving activates are easily duplicated B. Cost differences seldom decline over time C. Exclusive cost leadership can become a trap D. Obsessive cost cutting can shrink other competitive advantages involving key product attributes Difficulty: Medium Learning Objective: 1 8. (p. 219) __________ requires that the business have substantial advantages that allow it to provide buyers with something uniquely valuable to them. A. Cost strategy B. Integration C. Differentiation D. Speed-based strategy Difficulty: Easy Learning Objective: 1 9. (p. 220) Which of the following is NOT a skill or a resource that fosters differentiation?
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12e_TB_Chap_8 - Chapter 08 Business Strategy Chapter 08...

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