Chapter 1- global management

All of the following below are examples of external stakeholders except

employees

Which of the following does a firm possess when it can outperform other firms in the same industry or the industry average over a prolonged period of time?

sustainable competitive advantage

When a firm integrates the competitive strategies of cost-leadership and differentiation, it will most likely result in

trade-offs that work against each other.

Which of the following statements about competitive advantage is not true?

A firm's competitive advantage is always absolute, not relative.

A diagnosis of the competitive challenge, an element of a good strategy, is primarily accomplished through strategy

Analysis

EatNow is a fast-food restaurant that has recently entered the hospitality industry. Since most of its competitors are pursuing a low-cost position and doing well, EatNow also wants to adopt the same strategy. Which of the following will be a likely implication of this decision?

EatNow will face low profit potential.

Too Fast Inc., a motorcycle company, is the market leader due to its superior engine technology and service orientation. These unique qualities have helped the company generate revenues that are consistently higher than other firms in the same industry. Which of the following can be concluded about Too Fast Inc. from this scenario?

It has a competitive advantage over the other firms.

Which of the following groups will not be considered a company's internal stakeholder?

Suppliers

Which of the following statements will effectively guide a strategist?

The principles of strategic management can be applied universally to all organizations.

A good strategy should be able to provide products and services to customers at an attractive price point while maintaining internal costs, resulting in

Value Creation