TEST BANK FOR STRATEGIC MANAGEMENT 3RD EDITION BY FRANK T. ROTHAERMEL || COMPLETE ALL CHAPTERS || NEWEST VERSION | A + GRADE.

TEST BANK FOR STRATEGIC MANAGEMENT 3RD EDITION BY FRANK T. ROTHAERMEL || COMPLETE ALL CHAPTERS || NEWEST VERSION | A + GRADE. 1. Keeping in mind Apple's competitive advantage, which of the following products was introduced by Apple in 2007? A. iPa d B. iPhon e C. iPo d D. iTune s 2. is best described as an integrative management field that combines analysis, formulation, and implementation in the quest for competitive advantage. A. Supply chain management B. Integrated technology management C. Strategic management D. Inventory management 3. is best described as a set of goal-directed actions a firm takes to gain and sustain superior performance relative to competitors. A. Behavior modification B. Strateg y C. Cred o D. Competency management 4. Which of the following stages of the strategic management process involves an evaluation of a firm's external and internal environments? A. Strategy analysis B. Strategy implementation C. Strategy formulation D. Strategy control 5. Which of the following scenarios illustrates a firm that has a sustainable competitive advantage? A. Newon Inc. generated a revenue of $300,000 this financial year, which is close to the industrial revenue average of $320,000. B. SM Inc. almost doubled its sales to 8500 units this year compared to its previous year's sales of 5000 units, though the industry average is 10,000 units. C. TrueLink Corp. was able to hold its market share of 68 percent in the social networking industry for more than three years. D. Max Electrova Inc. was able to outperform its competitors with its new production system, in terms of revenue, for a brief period of four months. 6. If SA Pharmaceuticals 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? A. Comparing the return to the return on invested capital obtained by other firms in the industry B. Assessing the value based on the shareholders' expectations of return on their capital C. Evaluating the liquidity ratios for other pharmaceutical companies D. Comparing the value to the history of the firm's return of investment over a number of years 7. Underperformance relative to other firms in the same industry or the industry average results in a(n) for a firm. A. sustainable competitive advantage B. increased power distance C. diseconomies of scope D. competitive disadvantage 8. New Communications Inc. is a newspaper publishing company whose average return on invested capital is approximately 5 percent. Because newspaper publishing is a declining industry, the industry average has been negative (-5 percent) for the last few years. In this scenario, New Communications Inc. has a . A. competitive advantage B. balanced scorecard C. competitive disadvantage D. power position 9. Exis Inc. and Stelma Inc. are two companies that have been manufacturing typewriters for almost 30 years. Due to the reduced demand for typewriters today, both companies' average return on invested capital is approximately -5 percent. The current industry average is 2 percent. In this scenario, Exis Inc. and Stelma Inc. most likely have: A. competitive advantage over other firms in their industry. B. competitive parity with each other. C. strategic alliance with each other. D. economies of scope instead of economies of scale. 10. The average cost of production for a bottle of vitamin water in the industry is $4 while its average price is $7. StoreAll Inc. manufactures the same product for $3 per bottle and sells it for $7 per bottle. Which of the following statements is most likely true of StoreAll Inc. in this scenario? A. It has a competitive advantage in the industry. B. It has a competitive disadvantage in the industry. C. It has competitive parity with other firms in the industry. D. It has formed a strategic alliance with other firms in the industry. 11. A firm is said to gain a competitive advantage when it can: A. exceed its own previous performances. B. provide products similar to its competitors, but at lower prices. C. perform at the same level as that of its competitors. D. minimize the difference between value creation and cost. 12. FindFor Inc. is an e-commerce retail firm that sells a variety of merchandise online. Through services like cash on delivery, easy return, and online tracking, the company has created more customer value than its competitors (brick-and-mortar businesses) at the same price. Also, the company's costs are substantially low due to minimal investment in operation and administration. In this scenario, FindFor Inc. has most likely been able to provide superior value and cost control through . A. strategic parity B. strategic profiling C. strategic liquidation D. strategic positioning 13. In , a firm frames a guiding policy to address the competitive challenge. A. strategy control B. strategy implementation C. strategy formulation D. strategy analysis 14. Through , a firm puts its guiding policy into practice by employing a set of coherent actions. A. strategy control B. strategy implementation C. strategy formulation D. strategy