strategic management finaaaaaallllllll

Which of the following is not an element of a company's realized business strategy?

Adhering to abandoned strategy elements

Which of the following statements about a company's realized strategy is true?

A company's realized strategy is typically a blend of deliberate and planned initiatives, and emergent and unplanned reactive strategy elements.

Which one of the following is not an integral part of the managerial process of crafting and executing strategy?

Choosing a strategic intent

Which of the following questions ought to be used to distinguish a winning strategy from a so-so or flawed strategy?

Is the strategy well matched to the company's situation, helping the company achieve a sustainable competitive advantage and resulting in better company performance?

Which one of the following is not related to actions and approaches that comprise a company's strategy?

Proving to shareholders that the company's business model is viable

Which of the following is not one of the most frequently used strategic approaches to building a sustainable competitive advantage?

Sticking with an outdated business model

Which of the following statements about a company's strategy is true?

Strategy at its essence is about competing differently—doing what rival firms do not do or cannot do.

Which of the following is not typically a trigger to an evolving strategy?

The need to respond to short-term swings in the stock market

When can a company achieve sustainable competitive advantage?

When elements of the strategy give buyers lasting reasons to prefer a company's products or services over those of competitors

The difference between a company's mission statement and the concept of a strategic vision is that

a mission statement typically concerns an enterprise's present business scope and purpose —"who we are, what we do, and why we are here"—whereas the focus of a strategic vision is on the direction the company is headed and what its future product-customer-market-technology focus will be

A strategy that distinguishes a company from its rivals and provides a sustainable competitive advantage

is a company's most reliable ticket to above-average profitability

It is normal for a company's realized strategy to end up

blending deliberate actions to improve the company's competitiveness and financial performance and unplanned reactions to changing circumstances and fresh market conditions

In answering the question "How well does the strategy fit the company's situation," management must be willing and ready to address such issues as

changing market conditions, development of internal capabilities and competencies, and allocation of financial resources

A creative, distinctive strategy that delivers a sustainable competitive advantage is important because..

crafting a strategy that yields a competitive advantage over rivals is a company's most reliable means of achieving above-average profitability and financial performance.

A winning strategy is one that

fits the company's internal and external situation, builds sustainable competitive advantage, and boosts company performance

Nothing affects a company's ultimate success or failure more fundamentally than

how well its management team charts direction, develops effective strategic moves, and pursues daily operating excellence

The heart and soul of any strategy

is the actions and moves to gain a competitive edge over rivals in the marketplace

A company's strategic plan consists of

management's vision mapping out where a company is headed, the company's financial and strategic objectives, and management's strategy to achieve the objectives and move the company along the chosen strategic path

When evaluating proposed or existing strategies, managers should

scrutinize their company's existing strategies on a regular basis to ensure that they offer a good strategic fit, create a competitive advantage, and result in above-average performance

A viable business model

sets forth how both strategy and operating approaches will create value for customers and simultaneously generate ample revenues to cover costs to realize a profit

An engaging and convincing strategic vision for a company

should be crafted in language that inspires and motivates company personnel to unite behind executive efforts to get the company moving in the intended direction

A company's business model

specifies a customer value proposition and develops a profit formula.

Excellent execution of a successful strategy is

the best test of managerial excellence and the best recipe for making a company a standout performer

Strategies that yield sustainable competitive advantage are important because

these enable a company to attract sufficiently large numbers of buyers who have a lasting preference for its products or services over those offered by rivals, despite the efforts of competitors to offset that appeal and overcome the company's advantage