BSG TEST QUESTIONS AND ANSWERS GRADED A

Which of the following is not among the choices and decisions a company makes in crafting its strategyAnsHow to boost the company's credit rating and stock price A company's strategy evolves from one version to the nextAnsas managers abandon obsolete or ineffective strategy elements, settle upon a set of proactive strategy elements, and then as new circumstance unfold-- make adaptive strategic adjustments, which gives rise to reactive strategy elements A winning strategy is one thatAnsfits the company's internal and external situation, improves company performance, and helps achieve sustainable competitive advantage 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?Ansstriving to be more profitable than rival and aiming for a competitive edge based on bigger profit margins Based on Figure 1.1 Which of the following is not something to look for in identifying a company's strategyAnsactions to raise or lower the company's performance targets and actions to pay down the company's long-term debt Crafting and executing strategy are top-priority managerial task becauseAnshow 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 strategy is executed the heart and soul of any strategyAnsis the actions and moves in the marketplace that managers are taking to gain a competitive advantage over rivals Which of the following is not one of the reasons that a company's strategy evolves over timeAnsthe need on the part of company mangers to make regular strategy adjustments so as to keep rivals off balance and always guessing about what moves it will make next The customer value proposition portion of a company's business model concernsAnsthe company's approach to satisfying buyer needs and requirements at a price they will consider a good value A company's strategy is defined byAnsthe specific market positioning, competitive moves, and business approaches that form managements answer to "whats our plan for running the company and producing good results" The two crucial elements of a company's business model areAnsits 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 formula ( its business approach to generating