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Unformatted text preview: ch1 Student: ___________________________________________________________________________ 1. Which of the following is not one of the central questions in evaluating a company's business prospects? A. What is the company's present situation? B. What are the key product or service attributes demanded by consumers? C. Where does the company need to go from here? D. How should it get there? E. All of the above are pertinent in evaluating a company's business prospects. 2. A company's strategy concerns A. its market focus and plans for offering a more appealing product than rivals. B. how it plans to make money in its chosen business. C . management's action plan for running the business and conducting operations—its commitment to pursue a particular set of actions in growing the business, staking out a market position, attracting and pleasing customers, competing successfully, conducting operations, and achieving targeted objectives. D. the long-term direction that management believes the company should pursue. E. whether it is employing an aggressive offense to gain market share or a conservative defense to protect its market position. 3. A company's strategy consists of A . the competitive moves and business approaches that managers are employing to grow the business, stake out a market position, attract and please customers, compete successfully, conduct operations, and achieve targeted objectives. B. the plans it has to outcompete rivals and establish a sustainable competitive advantage. C. the offensive moves it is employing to make its product offering more distinctive and appealing to buyers. D. the actions it is taking to develop a more appealing business model than rivals. E. its strategic vision, its strategic objectives, and its strategic intent. 4. The competitive moves and business approaches a company's management is using to grow the business, stake out a market position, attract and please customers, compete successfully, conduct operations, and achieve organizational objectives is referred to as its A. strategy. B. mission statement. C. strategic intent. D. business model. E. strategic vision. 5. In crafting a strategy, management is in effect saying A. "this is who we are and where we are headed.'' B. "this is our model for making money in our particular line of business." C. "we intend to launch these new moves to outcompete our rivals." D . "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." E ....
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This note was uploaded on 01/29/2012 for the course MAN 4635 taught by Professor Q during the Spring '11 term at Metro State.
- Spring '11