Test Bank Crafting and Executing Strategy Concepts 2024 Release 3rd Edition
1 of 2096
Thompson Complete Chapters 1-12.
Crafting & Executing Strategy The Quest for Competitive Advantage Concepts, 23e Arthur A. Tho
https://browsegrades.net/singlePaper/416743/test-bank-instructor-manual-chapters-notes-for-cra
MULTIPLE CHOICE - Choose the one alternative that best completes the statement or
answers the question.
1) Managers of all types of business organizations must develop a clear answer for which of
the following questions?
A) What approaches do we need to take in order to gain a competitive advantage in the
marketplace?
B) What is the set of actions that we need to take to outperform competitors and achieve
superior profitability?
C) Where are we now?
D) Where do we go from here?
E) When will we know that we are there?
2) Sanofi, a pharmaceutical company selling prescription drugs in France for the past 10
years, has had moderate sales in a crowded market while its rivals manufacture and market drugs
having similar efficacy and safety precautions, but with superior market share. This particular
pharmaceutical company's greatest challenge is to increase prescriptions of their drugs by French
doctors. What would be the most effective strategy for Sanofi to improve sales performance in its
existing market?
A) modifying marketing communication to increase brand familiarity within key
physician segments
B) relocating all the existing drug manufacturing facilities to developing countries to
reduce operational costs
C) employing hiring plans that aim at acquiring drug designers from rival companies
D) exiting the market and entering a new unexplored geographical location
E) engaging in new contract talks with suppliers about price breaks
3) You have been hired as a consultant by SandCloud, a venture-backed established
company in the beachwear and toweling markets. SandCloud’s owners are weighing a decision
to donate a part of its profits to a children's charity to improve its market image. Your advice to
SandCloud regarding strategy is that it will consist of the action plan management takes to
Version 1 1
Page 1 Test Bank Crafting and Executing Strategy Concepts 2024 Release 3rd Edition Thompson Complete Chapters 1-12..pdf
, Test Bank Crafting and Executing Strategy Concepts 2024 Release 3rd Edition
2 of 2096
Thompson Complete Chapters 1-12.
Crafting & Executing Strategy The Quest for Competitive Advantage Concepts, 23e Arthur A. Tho
https://browsegrades.net/singlePaper/416743/test-bank-instructor-manual-chapters-notes-for-cra
A) develop a more appealing business model than rival beachwear and toweling
companies.
B) compete against rivals in the beachwear and toweling industry and establish a
transitory competitive advantage.
C) concentrate on improving its existing product offering irrespective of its decision to
donate a percentage of its profits to a children’s charity.
D) stake out a unique market position in beachwear and toweling markets and achieve
superior profitability.
E) identify its strategic vision, its strategic objectives, and its strategic intent.
4) 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 outperform the company's
competitors and achieve superior profitability are known as its
A) strategy.
B) mission statement.
C) strategic intent.
D) value-cost-price framework.
E) market visioning statement.
5) Strategy, at its essence, is about
A) matching rival businesses' products and quality dimensions in the marketplace.
B) building profits for short-term success.
C) realigning the market to provoke change in rival companies.
D) developing lasting success that can support growth and secure the company's future
over the long term.
E) re-creating a business model with regularity.
6) To improve performance, there are many different avenues for outcompeting rivals, such
as
Version 1 2
Page 2 Test Bank Crafting and Executing Strategy Concepts 2024 Release 3rd Edition Thompson Complete Chapters 1-12..pdf
, Test Bank Crafting and Executing Strategy Concepts 2024 Release 3rd Edition
3 of 2096
Thompson Complete Chapters 1-12.
Crafting & Executing Strategy The Quest for Competitive Advantage Concepts, 23e Arthur A. Tho
https://browsegrades.net/singlePaper/416743/test-bank-instructor-manual-chapters-notes-for-cra
A) realizing a higher cost structure and lower operating profit margins than rivals in
order to drive sales growth.
B) creating products analogous with competitors so as to be competitive in the same
markets.
C) pursuing similar personalized customer service or quality dimensions as rivals.
D) being undecided whether to concentrate operations on local or global markets.
E) strengthening competitiveness by pursuing strategic alliances and collaborative
partnerships.
7) Pizza Port, a craft brewing and pizza chain in southern California, manufactures thin-
crust pizzas and offers one free pint of beer with the purchase of four large pizzas. What would
you advise Pizza Port’s owners not to do to craft a strategy that will enhance its future profits?
A) Establish a distribution plan to set up more rapid pizza and beer delivery than any
other rivals in the region,
B) Devise a social media marketing plan that aims at mass customer segments,
providing them with updates on new releases of beer, attractive advertisements, and offers on
products.
C) Implement a diversification plan that aims at eventually adding regions outside of
southern California to its existing line of products.
D) Chart an acquisition plan that aims at rebranding and creating franchises with local
smaller-scale pizza restaurants and craft beer taprooms that seek funding and offer attractive
locations.
E) Create a sales plan that aims to enhance initial sales and market penetration with low
prices based on high operational costs.
8) A cleverly crafted and well-executed strategy
A) precludes the capture of emerging opportunities.
B) produces mediocre financial performance.
C) immunizes a business from changing macro-economic and market conditions.
D) provides direction only in terms of what the company should do.
E) can withstand the competitive challenges from rival firms.
Version 1 3
Page 3 Test Bank Crafting and Executing Strategy Concepts 2024 Release 3rd Edition Thompson Complete Chapters 1-12..pdf
, Test Bank Crafting and Executing Strategy Concepts 2024 Release 3rd Edition
4 of 2096
Thompson Complete Chapters 1-12.
Crafting & Executing Strategy The Quest for Competitive Advantage Concepts, 23e Arthur A. Tho
https://browsegrades.net/singlePaper/416743/test-bank-instructor-manual-chapters-notes-for-cra
9) A company's strategy is not concerned with management's choices about how to
A) attract and please customers.
B) stake out the same market position as successful rival companies.
C) grow the business.
D) compete successfully.
E) conduct operations and improve the company's financial and market performance.
10) FaberRoad, a respected courier brand, is rapidly losing its market share to competitors
who do overnight deliveries of packages or offer lower prices. The company's research
department has found that many customers care more about knowing exactly when a package
will arrive than getting it the next day. Which strategy would best address the current state of
FaberRoad and help it regain its market?
A) employing night delivery drivers at a high cost and maintenance charges
B) developing radio tags that could be attached to packages to allow for real-time
tracking by customers' PCs and mobile phones
C) diversifying the different types of packages that can be transported and enabling
booking through calls
D) acquiring small transportation companies with cheaper trucks and tempos,
rebranding, and using them for deliveries
E) engaging in expensive advertising with new tag lines and famous celebrities to
enhance its brand image in the market
11) A company's strategy stands a better chance of succeeding when
A) it is developed through a collaborative process involving all managers and staff from
all levels of the organization.
B) managers employ conservative strategic moves based on past experience and form an
underlying basis of control.
C) it is predicated on competitive moves aimed at appealing to buyers in ways that set
the company apart from rivals.
D) managers copy the strategic moves of successful companies in its industry.
E) managers focus on meeting or beating shareholder expectations.
12) In crafting a company's strategy, managers
Version 1 4
Page 4 Test Bank Crafting and Executing Strategy Concepts 2024 Release 3rd Edition Thompson Complete Chapters 1-12..pdf
1 of 2096
Thompson Complete Chapters 1-12.
Crafting & Executing Strategy The Quest for Competitive Advantage Concepts, 23e Arthur A. Tho
https://browsegrades.net/singlePaper/416743/test-bank-instructor-manual-chapters-notes-for-cra
MULTIPLE CHOICE - Choose the one alternative that best completes the statement or
answers the question.
1) Managers of all types of business organizations must develop a clear answer for which of
the following questions?
A) What approaches do we need to take in order to gain a competitive advantage in the
marketplace?
B) What is the set of actions that we need to take to outperform competitors and achieve
superior profitability?
C) Where are we now?
D) Where do we go from here?
E) When will we know that we are there?
2) Sanofi, a pharmaceutical company selling prescription drugs in France for the past 10
years, has had moderate sales in a crowded market while its rivals manufacture and market drugs
having similar efficacy and safety precautions, but with superior market share. This particular
pharmaceutical company's greatest challenge is to increase prescriptions of their drugs by French
doctors. What would be the most effective strategy for Sanofi to improve sales performance in its
existing market?
A) modifying marketing communication to increase brand familiarity within key
physician segments
B) relocating all the existing drug manufacturing facilities to developing countries to
reduce operational costs
C) employing hiring plans that aim at acquiring drug designers from rival companies
D) exiting the market and entering a new unexplored geographical location
E) engaging in new contract talks with suppliers about price breaks
3) You have been hired as a consultant by SandCloud, a venture-backed established
company in the beachwear and toweling markets. SandCloud’s owners are weighing a decision
to donate a part of its profits to a children's charity to improve its market image. Your advice to
SandCloud regarding strategy is that it will consist of the action plan management takes to
Version 1 1
Page 1 Test Bank Crafting and Executing Strategy Concepts 2024 Release 3rd Edition Thompson Complete Chapters 1-12..pdf
, Test Bank Crafting and Executing Strategy Concepts 2024 Release 3rd Edition
2 of 2096
Thompson Complete Chapters 1-12.
Crafting & Executing Strategy The Quest for Competitive Advantage Concepts, 23e Arthur A. Tho
https://browsegrades.net/singlePaper/416743/test-bank-instructor-manual-chapters-notes-for-cra
A) develop a more appealing business model than rival beachwear and toweling
companies.
B) compete against rivals in the beachwear and toweling industry and establish a
transitory competitive advantage.
C) concentrate on improving its existing product offering irrespective of its decision to
donate a percentage of its profits to a children’s charity.
D) stake out a unique market position in beachwear and toweling markets and achieve
superior profitability.
E) identify its strategic vision, its strategic objectives, and its strategic intent.
4) 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 outperform the company's
competitors and achieve superior profitability are known as its
A) strategy.
B) mission statement.
C) strategic intent.
D) value-cost-price framework.
E) market visioning statement.
5) Strategy, at its essence, is about
A) matching rival businesses' products and quality dimensions in the marketplace.
B) building profits for short-term success.
C) realigning the market to provoke change in rival companies.
D) developing lasting success that can support growth and secure the company's future
over the long term.
E) re-creating a business model with regularity.
6) To improve performance, there are many different avenues for outcompeting rivals, such
as
Version 1 2
Page 2 Test Bank Crafting and Executing Strategy Concepts 2024 Release 3rd Edition Thompson Complete Chapters 1-12..pdf
, Test Bank Crafting and Executing Strategy Concepts 2024 Release 3rd Edition
3 of 2096
Thompson Complete Chapters 1-12.
Crafting & Executing Strategy The Quest for Competitive Advantage Concepts, 23e Arthur A. Tho
https://browsegrades.net/singlePaper/416743/test-bank-instructor-manual-chapters-notes-for-cra
A) realizing a higher cost structure and lower operating profit margins than rivals in
order to drive sales growth.
B) creating products analogous with competitors so as to be competitive in the same
markets.
C) pursuing similar personalized customer service or quality dimensions as rivals.
D) being undecided whether to concentrate operations on local or global markets.
E) strengthening competitiveness by pursuing strategic alliances and collaborative
partnerships.
7) Pizza Port, a craft brewing and pizza chain in southern California, manufactures thin-
crust pizzas and offers one free pint of beer with the purchase of four large pizzas. What would
you advise Pizza Port’s owners not to do to craft a strategy that will enhance its future profits?
A) Establish a distribution plan to set up more rapid pizza and beer delivery than any
other rivals in the region,
B) Devise a social media marketing plan that aims at mass customer segments,
providing them with updates on new releases of beer, attractive advertisements, and offers on
products.
C) Implement a diversification plan that aims at eventually adding regions outside of
southern California to its existing line of products.
D) Chart an acquisition plan that aims at rebranding and creating franchises with local
smaller-scale pizza restaurants and craft beer taprooms that seek funding and offer attractive
locations.
E) Create a sales plan that aims to enhance initial sales and market penetration with low
prices based on high operational costs.
8) A cleverly crafted and well-executed strategy
A) precludes the capture of emerging opportunities.
B) produces mediocre financial performance.
C) immunizes a business from changing macro-economic and market conditions.
D) provides direction only in terms of what the company should do.
E) can withstand the competitive challenges from rival firms.
Version 1 3
Page 3 Test Bank Crafting and Executing Strategy Concepts 2024 Release 3rd Edition Thompson Complete Chapters 1-12..pdf
, Test Bank Crafting and Executing Strategy Concepts 2024 Release 3rd Edition
4 of 2096
Thompson Complete Chapters 1-12.
Crafting & Executing Strategy The Quest for Competitive Advantage Concepts, 23e Arthur A. Tho
https://browsegrades.net/singlePaper/416743/test-bank-instructor-manual-chapters-notes-for-cra
9) A company's strategy is not concerned with management's choices about how to
A) attract and please customers.
B) stake out the same market position as successful rival companies.
C) grow the business.
D) compete successfully.
E) conduct operations and improve the company's financial and market performance.
10) FaberRoad, a respected courier brand, is rapidly losing its market share to competitors
who do overnight deliveries of packages or offer lower prices. The company's research
department has found that many customers care more about knowing exactly when a package
will arrive than getting it the next day. Which strategy would best address the current state of
FaberRoad and help it regain its market?
A) employing night delivery drivers at a high cost and maintenance charges
B) developing radio tags that could be attached to packages to allow for real-time
tracking by customers' PCs and mobile phones
C) diversifying the different types of packages that can be transported and enabling
booking through calls
D) acquiring small transportation companies with cheaper trucks and tempos,
rebranding, and using them for deliveries
E) engaging in expensive advertising with new tag lines and famous celebrities to
enhance its brand image in the market
11) A company's strategy stands a better chance of succeeding when
A) it is developed through a collaborative process involving all managers and staff from
all levels of the organization.
B) managers employ conservative strategic moves based on past experience and form an
underlying basis of control.
C) it is predicated on competitive moves aimed at appealing to buyers in ways that set
the company apart from rivals.
D) managers copy the strategic moves of successful companies in its industry.
E) managers focus on meeting or beating shareholder expectations.
12) In crafting a company's strategy, managers
Version 1 4
Page 4 Test Bank Crafting and Executing Strategy Concepts 2024 Release 3rd Edition Thompson Complete Chapters 1-12..pdf
