Page |1
SMGT 2256- Chapter 1 Questions and
Correct Answers/ Latest Update / Already
Graded
What does Strategy mean?
Ans: is a set of coordinated actions that its managers take in
order to outperform the company's competitors and achieve
superior profitability.
What does Strategy require?
Ans: How to position the company in the marketplace
How to attract customers
How to compete against rivals
How to achieve the company's performance targets
How to capitalize on opportunities to grow the business
How to respond to changing economic and market conditions
A strategy stands a better chance of succeeding when..
Ans: its predicated on actions, business approaches, and
competitive moves aimed at 1) appealing to buyers in ways that
set a company apart from its rivals and 2) staking out a market
position that is not crowded with strong competitors.
All rights reserved © 2025/ 2026 |
, Page |2
competitive advantage
Ans: whenever it has some types of edge over rivals in
attracting buyers and coping with competitive forces.
competitive advantage is essential
Ans: for realizing greater marketplace success and higher
profitability over the long term.
The pattern of actions that define a company's strategy
Ans: Actions to strengthen the firm's bargaining position with
suppliers, distributors, and others
Actions to gain market share via more performance features,
better design, quality or customer service, wider p roduct
selection, or other such actions
Actions to gain increased market share or profitability via lower
costs
Actions to enter new product or geographic markets or to exit
exisiting ones
Actions to capture emerging market opportunities and defend
against external threats to the company's business prospects
Actions to strengthen market standing and reputation through
corporate responsibility and environmental sustainability
programs
All rights reserved © 2025/ 2026 |
SMGT 2256- Chapter 1 Questions and
Correct Answers/ Latest Update / Already
Graded
What does Strategy mean?
Ans: is a set of coordinated actions that its managers take in
order to outperform the company's competitors and achieve
superior profitability.
What does Strategy require?
Ans: How to position the company in the marketplace
How to attract customers
How to compete against rivals
How to achieve the company's performance targets
How to capitalize on opportunities to grow the business
How to respond to changing economic and market conditions
A strategy stands a better chance of succeeding when..
Ans: its predicated on actions, business approaches, and
competitive moves aimed at 1) appealing to buyers in ways that
set a company apart from its rivals and 2) staking out a market
position that is not crowded with strong competitors.
All rights reserved © 2025/ 2026 |
, Page |2
competitive advantage
Ans: whenever it has some types of edge over rivals in
attracting buyers and coping with competitive forces.
competitive advantage is essential
Ans: for realizing greater marketplace success and higher
profitability over the long term.
The pattern of actions that define a company's strategy
Ans: Actions to strengthen the firm's bargaining position with
suppliers, distributors, and others
Actions to gain market share via more performance features,
better design, quality or customer service, wider p roduct
selection, or other such actions
Actions to gain increased market share or profitability via lower
costs
Actions to enter new product or geographic markets or to exit
exisiting ones
Actions to capture emerging market opportunities and defend
against external threats to the company's business prospects
Actions to strengthen market standing and reputation through
corporate responsibility and environmental sustainability
programs
All rights reserved © 2025/ 2026 |
