53021635-Quizes ch 1 thru 9

53021635-Quizes ch 1 thru 9 - CHAPTER 1 The correct answer...

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CHAPTER 1 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: A) strategic offensive for becoming a market leader. B) business model. C) long-term strategic direction. D) mission statement. E) strategy. 2 INCORRECT Which one of the following is not related to actions and approaches that comprise a company's strategy? A) How management intends to grow the business. B) How to prove to shareholders that the company's business model is viable. C) How to build a loyal clientele and out compete rivals. D) How to boost the company's performance. E) How each functional piece of the business (R&D, supply chain activities, production, sales and marketing, distribution, finance, and human resources) will be operated. 3 INCORRECT In committing to a particular strategy, a company's managers are in effect saying: A) "This is where we are headed and we have a plan for getting where we want to go.'' B) "We have a plan for being a winner in the marketplace and our extensive analysis of the company's situation indicates it will work." C) "This is who we are, what we do, and where we are headed." 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) "This is our current business model, but it will probably have to be modified as market conditions change."
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4 INCORRECT The heart and soul of any strategy is: A) to identify actions and operating approaches that will validate the company's business model work. B) to identify business approaches that will produce good bottom-line results. C) 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. D) the actions a company takes to steal substantial sales and market share away from rivals. E) pursuing competitive maneuvers that will make the company a market leader. 5 CORRECT Which of the following is not one of the most frequently used strategic approaches to building competitive advantage? A) Striving for a competitive edge based on bigger profit margins. B) Developing expertise and resource strengths that give the company competitive capabilities that rivals can't easily imitate or trump with capabilities of their own. C)
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This note was uploaded on 02/23/2012 for the course MGMT 6359 taught by Professor Wang during the Fall '11 term at University of Houston-Victoria.

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53021635-Quizes ch 1 thru 9 - CHAPTER 1 The correct answer...

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