Learnsmart 01

What must a firm do after diagnosing its specific competitive challenge?

create an effective guiding policy

Which of the following elements comprise strategic management? (Check all that apply.)

formulation, analysis, implementation

What is one significant challenge that Tesla faces?

gaps in the infrastructure needed to keep its vehicles on the road all over the country

What is one explanation for why Tesla underperforms when the company's profits are compared to the profits of established car companies?

startups often lose money early on

Which of the following are elements of a good strategy according to the AFI framework? (Check all that apply.)

a diagnosis of the competitive challenge, a set of coherent actions to implement the firm's guiding policy, a guiding policy to address the competitive challenge

A good strategy consists of three elements. The second element is accomplished through strategy formulation, resulting in the firm's functional, business-level, and corporate-level strategies. This is also called

a guiding policy to address the competitive challenge

The high market valuation achieved by Tesla by 2019 can be largely attributed to its

implementation of its secret strategy

Burger Bomb is a new hamburger restaurant. In order to compete successfully against its many competitors, Burger Bomb has decided to focus on quality and an interesting, unique menu that uses locally sourced, organic ingredients. This is known as Burger Bomb's ______

strategy

Which of the following indicates that investors expect future growth for Tesla?

the increasing value of the companys stock