MGMT capstone

Which of the following statements about product-oriented visions is true? Question 5 options: 1) They tend to force managers to take a myopic view of the competitive landscape. 2) They allow companies to effectively adapt to changing environments. 3) They define a business in terms of providing solutions to customers. 4) They allow firms to set goals that focus primarily on filling the organization's needs.

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The Founder of Teach for America, Wendy Kopp, established a mission by building on her vision, which is "One day, all children in this nation will have the opportunity to attain an excellent education." Considering this, how did Klopp implement the mission of Teach for America? Question 14 options: 1) by enlisting talented young professionals as teachers 2) by offering funds to increase the salaries of low-income teachers 3) by starting her own line of private schools 4) by starting a fundraising campaign to improve school infrastructure

1. by enlisting talented young professionals as teachers

If Zephyr Electronics obtains an 18 percent return on invested capital, which of the following will help determine if it has a competitive advantage over other pharmaceutical companies? Question 20 options: 1) comparing the return to the return on invested capital obtained by other firms in the industry 2) assessing the value based on the shareholders' expectations of return on their capital 3) evaluating the liquidity ratios for other pharmaceutical companies 4) comparing the value to the history of the firm's return of investment over a number of years

1. comparing the return to the return on invested capital obtained by other firms in the industry

The first step to gain and sustain a competitive advantage is to Question 8 options: 1) define a firm's vision, mission, and values. 2) understand the strategies of the competitors. 3) put the guiding policies of a firm into practice. 4) develop functional and business-level strategies.

1. define a firm's vision, mission, and values.

Which of the following tasks in the AFI strategy framework involves putting the formulated strategy into practice through organizational structure, culture, and controls? Question 3 options: 1) strategy formulation 2) strategy implementation 3) strategy analysis 4) strategy evaluation

2. strategy implementation

Visionary companies are able to outperform their competitors because Question 18 options: 1) their vision statements are more product-oriented. 2) they provide more aspirational visions. 3) their visions are primarily financial. 4) they isolate internal stakeholders in defining their visions.

2.they provide more aspirational visions.

Which of the following statements should ideally reflect a firm's strategy for competitive advantage? Question 12 options: 1) Our strategy is to win at any cost. 2) We will be number one in the industry. 3) Our aim is to create superior customer value while controlling costs. 4) We want to be the market leader by replicating our competitor's strategy.

3. Our aim is to create superior customer value while controlling costs.

Which of the following is an implication of all firms in an industry pursuing a low-cost position through application of competitive benchmarking? Question 11 options: 1) No firm would face direct competition from others in the industry; hence, profit potential would be high. 2) Each firm would be catering to a different customer segment. 3) The firms would eventually have no resources to invest in product and process improvements. 4) Each firm would be in a better position to gain a competitive advantage.

3. The firms would eventually have no resources to invest in product and process improvements.

A positive relationship between vision statements and firm performance is more likely to exist when Question 6 options: 1) visions are product-oriented. 2) internal stakeholders are isolated from defining and revising the visions. 3) organizational structures are aligned with the firm's vision statement. 4) vision statements are equivalent to listening to the customers.

3. organizational structures are aligned with the firm's vision statement.

For a firm that operates in an industry where competition is high, which of the following practices will result in inferior performance? Question 9 options: 1) choosing a distinct but different strategic position in the industry 2) working toward increasing the difference between value creation and cost 3) trying to be everything to everybody by combining different competitive strategies 4) focusing on creating value for customers rather than destroying rivals

3. trying to be everything to everybody by combining different competitive strategies

Which of the following scenarios illustrates a firm that has a sustainable competitive advantage? Question 7 options: 1) Jamison Inc. generated revenue of $300,000 this financial year, which is close to the industrial revenue average of $320,000. 2) CR Inc. almost doubled its sales to 9,000 units this year compared to its previous year's sales of 5,000 units, though the industry average is 10,000 units. 3) Zhang Corp. was able to hold its market share of 68 percent in the social networking industry for more than three years. 4) Peak Inc. was able to outperform its competitors with its new production system, in terms of revenue, for a brief period of four months.

3.Zhang Corp. was able to hold its market share of 68 percent in the social networking industry for more than three years.

Organizational values help individuals make choices that are Question 13 options: 1) legal but unethical. 2) both illegal and effective. 3) both ethical and effective in advancing a company's goals. 4) ethical but ineffective in achieving long-term success.

3.both ethical and effective in advancing a company's goals.

Pioneer Pharma Inc. and GH Medicines Corp. are two competing firms in the pharmaceutical industry. While Pioneer Pharma Inc.'s vision is "to be a preeminent drug manufacturer in the industry," GH Medicines Corp.'s vision is "to make good health a reality for everyone around the world." Which of the following is an implication of these different visions? Question 17 options: 1) GH Medicines' vision is more product-oriented than the vision of Pioneer Pharma. 2) Pioneer Pharma is more likely to have a positive relationship between its vision and firm performance than GH Medicines. 3) Pioneer Pharma's vision is more long-term and futuristic than GH Medicines' vision. 4) GH Medicines will be more flexible than Pioneer Pharma when adapting to changing environments.

4. GH Medicines will be more flexible than Pioneer Pharma when adapting to changing environments.

Underperformance relative to other firms in the same industry or the industry average results in a(n) ________ for a firm. Question 10 options: 1) sustainable competitive advantage 2) increased power distance 3) diseconomies of scope 4) competitive disadvantage

4. competitive disadvantage

If a company wants to gain a competitive advantage in a highly competitive industry, it should ideally Question 16 options: 1) execute an integrated cost-leadership and differentiation position. 2) copy the strategies of other firms through competitive benchmarking. 3) provide goods or services similar to its competitors at higher prices. 4) stake out a unique position within the industry.

4. stake out a unique position within the industry.

Powell Lighting was the first company to start selling LED light bulbs in its country—a product that gained popularity among diverse groups. Soon, other companies started to sell their own brands of LED bulbs, thereby giving Powell Lighting ample competition. In response, Powell Lighting decided to limit its LED light bulbs to outdoor models. However, it ensured that these models were the longest-lasting and lowest-priced on the market. With this innovation, Powell Lighting consistently outperformed its competitors for ten years. In this scenario, Powell Lighting maintained a ________ through its innovative strategy. Question 19 options: 1) balanced scorecard 2) fiduciary responsibility 3) consistent power position 4) sustainable competitive advantage

4. sustainable competitive advantage

Bubble Buddy is a company that manufactures hot tubs. Which of the following best illustrates a product-oriented vision for Bubble Buddy? Question 4 options: 1) to make people's lives simple and easy 2) to demonstrate to customers the health benefits of hot tubs 3) to help people improve the value of their homes 4) to be the pioneering manufacturer of hot tubs

4. to be the pioneering manufacturer of hot tubs

_ are best described as the ethical standards and norms that govern the behavior of individuals within a firm. Question 15 options: 1) Job descriptions 2) Customs duties 3) Corrective controls 4) Organizational core values

4.Organizational core values

toy sales have declined by 10 percent each year, forcing many retailers to exit the industry. To eliminate its remaining competition, Bleaker Toys sells all of its product at a loss and relies on its significant cash holdings to cover costs until its competition is forced to exit the industry. Is this an example of a successful strategy? Why or why not? Question 2 options: 1) Yes. Any strategy that forces competition from the market is by definition successful. 2) Yes. Bleaker has achieved a sustainable competitive advantage by selling its toys at a lower price than competitors. 3) No. Bleaker has failed to create value for its customers. 4) No. Bleaker's strategy and competitive advantage are unsustainable.

4No. Bleaker's strategy and competitive advantage are unsustainable