BSG-Chapter 1 Exam Questions with
Complete Solutions3
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
Crafting and executing strategy are top-priority managerial tasks because - ANSWERS-how well
a company performs and the degree of market success it achieves are directly attributable to
the caliber of its strategy and the proficiency with which the strategy is executed
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
what makes a competitive advantage sustainable or durable as opposed to temporary -
ANSWERS-are actions or elements in a company's strategy that cause an attractive number of
buyers to have lasting reasons to purchase they company's products or services, despite
competitors best efforts to nullify or overcome those reasons
the two crucial elements of a company's business model are - ANSWERS-its customer value
proposition (which lays out the company's approach to satisfying buyer needs and requirements
at a price they will consider a good value) and its profit proposition or "profit formula" (its
business approach to generating sufficiently large revenues and controlling the costs of its
customer value proposition, such that the company will be able to simultaneously deliver the
intended value to customers and deliver appealing profits to shareholders)
the difference between a company's strategy and company's business model is that - ANSWERS-
its strategy is defined by the specific market positioning, competitive movies, and business
approaches management employs to try to produce good business results while its business
Complete Solutions3
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
Crafting and executing strategy are top-priority managerial tasks because - ANSWERS-how well
a company performs and the degree of market success it achieves are directly attributable to
the caliber of its strategy and the proficiency with which the strategy is executed
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
what makes a competitive advantage sustainable or durable as opposed to temporary -
ANSWERS-are actions or elements in a company's strategy that cause an attractive number of
buyers to have lasting reasons to purchase they company's products or services, despite
competitors best efforts to nullify or overcome those reasons
the two crucial elements of a company's business model are - ANSWERS-its customer value
proposition (which lays out the company's approach to satisfying buyer needs and requirements
at a price they will consider a good value) and its profit proposition or "profit formula" (its
business approach to generating sufficiently large revenues and controlling the costs of its
customer value proposition, such that the company will be able to simultaneously deliver the
intended value to customers and deliver appealing profits to shareholders)
the difference between a company's strategy and company's business model is that - ANSWERS-
its strategy is defined by the specific market positioning, competitive movies, and business
approaches management employs to try to produce good business results while its business
