Strategic Management- Ch 1
Winning a sustainable competitive edge over competitors does NOT hinge on which of the following?
Building products and distributing them at low prices to a broad customer base irrespective of manufacturing cost
Management's blueprint for how and why the company's business approaches will generate revenues sufficient to cover costs and produce attractive profits and returns on investment:
Best describes what is meant by a company's business model
It is normal for a company's strategy to end up being:
A blend of proactive actions to improve the company's competitiveness and financial performance, and adaptive reactions to unanticipated developments and fresh market conditions
A company's strategy and its quest for competitive advantage are tightly connected 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
Troopline Inc., an online laptop retailer, sells laptops of similar range and features as other online laptop retailers. Which of the value propositions would NOT benefit the company?
Establishing a comparison feature tab that allows customers to compare offerings from other online retailers
Crafting and executing a strategy is a top-priority managerial task because:
It is management's prescription for doing business, its roadmap to competitive advantage, a game plan for pleasing customers, and its formula for improving performance
A company's strategy stands a better chance of succeeding when:
It is predicted on competitive moves aimed at appealing to buyers in ways that set the company apart from rivals
A company achieves a competitive advantage when it:
Provides buyers with superior value compared to rival sellers or offers the same value at a lower cost
A winning strategy must pass which three tests?
The fit test, the competitive advantage test, and the performance test
A company's strategy is a "work in progress" and evolves over time because of:
The ongoing need of company managers to react and respond to changing market and competitive conditions