BUAD 4020 exam 1
key functional strategies of SunPower, a solar power manufacturing and installation company include
R&D, technology, and product design
Keurig the coffee machine manufacturer sells high-quality espresso machines at a very low price and also provides low-cost refills of varietal coffee pods at a relatively higher price than rivals. The action steps that keurig's managers take to out perform the company's competitors and achieve superior profitability are known as its
Strategy
managers of all types of business organizations must develop a clear answer for which of the following questions
What is the set of actions that we need to take to out perform competitors and achieve superior profitability
an example of an internal threat to a company's future profitability does not include
a lack of distinctive competence
a company's business model
is management's blueprint for how it will generate revenues sufficient to cover costs and yield an attractive profit.
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 rivles
a companys business strategy is not likely to include
management's actions to revise the company's financial and strategic performance targets
which of the following situations best illustrates the impact of competitive forces on a company's strategic opportunities
netflix counters amazon prime by introducing special free trial promotions via heavy advertising to attract new subscribers in the streaming television and film industry
a company should not couch its mission statement in terms of making a profit because a profit is more correctly an
objective and a result of what a company does
managing the strategy-execution process involves
organizing the company along the lines of best practice
a superior example of a well stated strategic objective is to
overtake key competitors on product performance or quality within three years
the five forces of competitive pressures do not include the
power and influence of social/demographic trends
strategic intent refers to a situation where a company
relentlessly pursues an ambitious strategic objective
managers must be prepared t modify their strategy when
rivals make or adjust moves in the market due to the shifting needs of buyers
The real purpose of the company's strategic vision
serves as management's tool for giving the organization a sense of direction.
SWOT analysis is simple but powerful tool for
sizing up a company's resources and capabilities, strengths and deficiencies, its market opportunities, and the external threats to its future well-being.
when drawing a strategic group map
the best variables to use as an axes for the map are those that identify the competitive characteristics that delineate strategic approaches used in the industry
the competitive pressures on companies within an industry come from all of the following except
those associated with environmental factors such as water shortages
two analytical tools useful in determining whether a company's prices and costs are competitive are
value chain analysis and benchmarking
OpenAI, a US company has developed Chat GPT, an online chatbot designed to respond to text-based queries and generate natural language responses. Which of the following customer value propositions is unlikely to be part of OpenAI's business models
adding a comparison feature tab that allows customers to compare chatbot offerings from other online providers of AI-genrated language providers such as Google's LamDA, Microsofts Bind and Amazons Codewhisperer
the payoffs of having strategic vision that describes management's aspirations for the company's future and the course and direction charted to achieve those aspirations are not typically connected with
avoiding strategic inflection point sand management's reaction in aligning decision choices
if you were a manager responsible for activity-based costing at everlane, you would
determine the costs of each primary and support activity comprising everlanes value chain and thereby revealing the nature and makeup of that company's internal cost structure
The heart and soul of a company's strategy-making effort is determining how to
come up with moves and actions that produce a durable competitive edge over rivals
to evaluate how well Kellogg's strategy and competitive approach are currently working in comparison to its key rivals in the cereal industry which analytical tool would you choose
competitive strength assessment
In identifying an industry's key success factors, strategists should:
consider on what basis customers choose between bands, what resources and competitive capabilities firms need to be competitively successful, and what shortcomings are almost certain to put a company at a significant competitive disadvantage
industry conditions change because of
important forces enticing or pressuring certain industry participants (competitors, customers, suppliers) to alter their actions in important ways.
the managerial task of developing a strategic vision for a company
involves deciding upon what strategic course a company should pursue in preparing for the future and why this directional path makes good business sense
The higher the switching costs for industry members, the more it can
enhance supplier bargaining power
The means to enhance differentiation through activities at the forward end of the value chain system do NOT include
enhancing cost-reducing activities with defensive functionality designed to create incentives
Toyote aggressvel upgrades the company's capabilities in fuel-efficient hybrid engine technolog order to enhance the company's already proficient capabilities in manufacturing top-quality vehicToyota's management how well this company's strategy is working?
gross profit margin
