BSG Final Exam Review11
A company's strategy - ANSWERS-Represents managerial commitment to undertake one set of
actions rather than another in an effort to compete successfully and achieve good performance
outcomes
Which of the following questions helps distinguish a winning strategy from a mediocre or losing
strategy - ANSWERS-Is the strategy helping the company achieve a sustainable competitive
advantage and is it resulting in goo company performance?
In crafting a company's strategy - ANSWERS-Managers need to come up with some distinctive
"aha" quality that goes beyond merely attracting buyer attention but that, more importantly,
delivers what buyers perceive as superior value and converts them in to loyal customers
A company's strategy is a "work in progress" and evolves over time because of - ANSWERS-The
need to react and respond to changing market and competitive conditions and ongoing
management efforts to improve this or that piece of the strategy
It is normal for a company's strategy to end up being - ANSWERS-A blend of proactive actions to
improve the company's competitiveness and financial performance and as-needed reactions to
unanticipated developments and fresh market conditions
The two crucial elements of a company's business model are - ANSWERS-It's profit proposition
or "profit formula" and its customer value proposition
Which of the following is not a frequently used strategic approach to setting a company apart
from rivals, delivering superior value, achieving competitive advantage, and converting buyers
into loyal customers? - ANSWERS-Striving to be more profitable than rivals and aiming for a
competitive edge based on bigger profit margins
, A company's strategy can be considered "ethical" - ANSWERS-If it does not entail actions or
behaviors that cross the moral line from "should or can do" to "should not do"
Which of the following is not something to look for in identifying a company's strategy? -
ANSWERS-Actions to boost the compay's credit rating and stock price
The difference between a company's strategy and a company's business model is that -
ANSWERS-Strategy relates broadly to a company's competitive moves and business approaches
(which may or may not lead to profitability) while its business model relates to whether the
company can execute its customer value proposition profitably
There are many routes to competitive advantage, but they all involve - ANSWERS-Providing
buyers with what they perceive as superior value compared to the offerings of rival sellers
Which of the following statements about a company's strategy is false? - ANSWERS-Well-crafted
company strategies rarely need to be changed unless one or more important rival firms launch
unexpected strategic initiatives that endanger the company's strategy long-term profitability
The customer value proposition portion of a company's business model concerns - ANSWERS-
The company's approach to satisfying buyer needs and requirements at a price they will
consider a good value
How well a company performs and the degree of market success it achieves are directly
attributable to - ANSWERS-The caliber of its strategy and the proficiency with which the strategy
is executed
In endeavoring to craft a strategy that is ethical, company mangers - ANSWERS-Have to consider
not only whether all the various strategy elements are within the bounds of what is legal; and in
compliance with prevailing governmental rules and regulations but also whether all the various
elements of the company's strategy can pass the test of moral scrutiny
A company's strategy - ANSWERS-Represents managerial commitment to undertake one set of
actions rather than another in an effort to compete successfully and achieve good performance
outcomes
Which of the following questions helps distinguish a winning strategy from a mediocre or losing
strategy - ANSWERS-Is the strategy helping the company achieve a sustainable competitive
advantage and is it resulting in goo company performance?
In crafting a company's strategy - ANSWERS-Managers need to come up with some distinctive
"aha" quality that goes beyond merely attracting buyer attention but that, more importantly,
delivers what buyers perceive as superior value and converts them in to loyal customers
A company's strategy is a "work in progress" and evolves over time because of - ANSWERS-The
need to react and respond to changing market and competitive conditions and ongoing
management efforts to improve this or that piece of the strategy
It is normal for a company's strategy to end up being - ANSWERS-A blend of proactive actions to
improve the company's competitiveness and financial performance and as-needed reactions to
unanticipated developments and fresh market conditions
The two crucial elements of a company's business model are - ANSWERS-It's profit proposition
or "profit formula" and its customer value proposition
Which of the following is not a frequently used strategic approach to setting a company apart
from rivals, delivering superior value, achieving competitive advantage, and converting buyers
into loyal customers? - ANSWERS-Striving to be more profitable than rivals and aiming for a
competitive edge based on bigger profit margins
, A company's strategy can be considered "ethical" - ANSWERS-If it does not entail actions or
behaviors that cross the moral line from "should or can do" to "should not do"
Which of the following is not something to look for in identifying a company's strategy? -
ANSWERS-Actions to boost the compay's credit rating and stock price
The difference between a company's strategy and a company's business model is that -
ANSWERS-Strategy relates broadly to a company's competitive moves and business approaches
(which may or may not lead to profitability) while its business model relates to whether the
company can execute its customer value proposition profitably
There are many routes to competitive advantage, but they all involve - ANSWERS-Providing
buyers with what they perceive as superior value compared to the offerings of rival sellers
Which of the following statements about a company's strategy is false? - ANSWERS-Well-crafted
company strategies rarely need to be changed unless one or more important rival firms launch
unexpected strategic initiatives that endanger the company's strategy long-term profitability
The customer value proposition portion of a company's business model concerns - ANSWERS-
The company's approach to satisfying buyer needs and requirements at a price they will
consider a good value
How well a company performs and the degree of market success it achieves are directly
attributable to - ANSWERS-The caliber of its strategy and the proficiency with which the strategy
is executed
In endeavoring to craft a strategy that is ethical, company mangers - ANSWERS-Have to consider
not only whether all the various strategy elements are within the bounds of what is legal; and in
compliance with prevailing governmental rules and regulations but also whether all the various
elements of the company's strategy can pass the test of moral scrutiny
