Strat mgnt kahoot

Several managers left Bass Auto Inc. and went to work at Unicorn Auto Inc What does this imply?

Bass Auto Inc. faced resource leakage.

(T/F) Because they are a crucial to a firm's success, customers are considered internal stakeholders.

False

Which of the following is an example of competitive parity?

Firm makes same number of wall clocks at same cost as comp.

The _?_allows the scanning, monitoring, and evaluating of changes in a firm's macro environment

PESTEL framework

(T/F) A mission describes how a firm will accomplish the broad goals set out in a vision statement

True

(T/F) A vision describes in broad terms what an organization hopes to accomplish in the future.

True

Firms acquire resources at a low cost, laying the foundation for a competitive advantage later?

better expectations of future resource value

In an industry, the threat of entry is high when

capital requirements are low

A firm that achieves superior performance relative to other firms in the same industry has a(n)

competitive advantage

What part of AFI strategy framework does the question How does the firm make money? relate to?

competitive advantage, firm performance, and business models

Managers use the AFI strategy framework to

explain and predict differences in firm performance.

The best example of a firm's external stakeholder is a(n)

government agency that regulates products made by the firm

In the context of the SWOT matrix which of the following exemplifies a firms internal strength?

increase in a firm's customer loyalty

Which of the following is a macroeconomic factor that can affect a firm's strategy?

levels of employment

According to the value chain analysis, which of the following is a primary activity?

marketing and sales

The competitive advantage that one firm has will be short-lived in an industry in which

perfect competition exists.

A firm is said to gain a competitive advantage when it can

provide products similar to its competitors at lower prices.

Which of the following strategies does Tesla need to implement to gain a competitive advantage?

reinvest profits to build better electric automobiles

Dynamic capabilities are especially relevant for surviving and competing in markets that

shift quickly

A firm's ability to create value for customers (V) while containing the cost to do so (C) is?

strategic position

Through _?_ a firm puts its guiding policy into practice by employing a set of coherent actions

strategy implementation

Amazon's network of distribution centers are examples of Amazon's___?

tangible resources

Who among the following is responsible for making business strategies in a large conglomerate?

the general managers of individual business units

The primary objective of Porter's five forces model is to

understand the profit potential of industries.

(T/F) High demand for online video streaming options is one of Netflix's core competencies.

False

(T/F) IP protections such as patents is a method of establishing permanent barriers to imitation.

False

(T/F) Managers should create two sets of core values, one for employees and one for themselves.

False

(T/F) Strategic leaders spend the majority of their time working alone to devise new strategies.

False

A firm will fail to create a sustained competitive advantage when the

fit between internal strength and external environment is static

Eleanor owns a portion of Apex Apparel's stock. She is not an employee. Rachel is the company's

internal stakeholder