,DOWNLOAD THE Test Bank for Crafting and Executing Strategy Concepts an
Cases The Quest for Competitive Advantage 20th Edition Thompson
Chapter 02 Test Bank
Student: ___________________________________________________________________________
1. Which one of the following is NOT one of the five basic tasks of the strategy-making, strategy-executing process?
A. Developing a strategic vision of where the company needs to head and what its future business makeup will be
B. Setting objectives to convert the strategic vision into specific strategic and financial performance outcomes for the company
to achieve
C. Crafting a strategy to achieve the objectives and get the company where it wants to go
D. Developing a profitable business model
E. Executing the chosen strategy efficiently and effectively
2. A company's strategic plan:
A. maps out the company's history.
B. links the company's financial targets to control mechanisms.
C. outlines the competitive moves and approaches to be used in achieving the desired business results.
D. focuses on offering a more appealing product than rivals.
E. lists methods of making money in its chosen business.
3. Which of the following is an integral part of the managerial process of crafting and executing strategy?
A. Developing a proven business model
B. Deciding how much of the company's resources to employ in the pursuit of sustainable competitive advantage
C. Setting objectives and using them as yardsticks for measuring the company's performance and progress
D. Communicating the company's values and code of conduct to all employees
E. Deciding on the company's strategic intent
4. Which of the following are integral parts of the managerial process of crafting and executing strategy?
A. Developing a strategic vision, setting objectives, and crafting a strategy
B. Developing a proven business model, deciding on the company's strategic intent, and crafting a strategy
C. Setting objectives, crafting a strategy, implementing and executing the chosen strategy, and deciding how much of the
company's resources to employ in the pursuit of sustainable competitive advantage
D. Coming up with a statement of the company's mission and purpose, setting objectives, choosing what business approaches to
employ, selecting a business model, and monitoring developments
E. Deciding on the company's strategic intent, setting financial objectives, crafting a strategy, and choosing what business
approaches and operating practices to employ
mynursytest.store
,DOWNLOAD THE Test Bank for Crafting and Executing Strategy Concepts an
Cases The Quest for Competitive Advantage 20th Edition Thompson
5. The strategy-making, strategy-executing process:
A. is usually delegated to members of a company's board of directors.
B. includes establishing a company's mission, developing a business model aimed at making the company an industry leader, and
crafting a strategy to implement and execute the business model.
C. embraces the tasks of developing a strategic vision, setting objectives, crafting a strategy, implementing and executing the
strategy, and then monitoring developments and initiating corrective adjustments in light of experience, changing conditions,
and new opportunities.
D. is principally concerned with sizing up an organization's internal and external situation, so as to be prepared for the challenges
of developing a sound business model.
E. is primarily the responsibility of top executives and the board of directors; very few managers below this level are involved in
the process.
6. A company's strategic vision describes:
A. "who we are and what we do."
B. why the company does certain things in trying to please its customers.
C. management's storyline of how it intends to make a profit with the chosen strategy.
D. management's aspirations for the future and the company's strategic course and long-term direction.
E. what future actions the enterprise will likely undertake to outmaneuver rivals and achieve a sustainable competitive
advantage.
7. The real purpose of the company's strategic vision:
A. is management's story line for how it plans to implement and execute a profitable business model.
B. sets forth what business the company is presently in and why it uses particular operating practices in trying to please
customers.
C. serves as management's tool for giving the organization a sense of direction.
D. defines "who we are and what we do."
E. spells out a company's strategic intent, its strategic and financial objectives, and the business approaches and operating
practices that will underpin its efforts to achieve sustainable competitive advantage.
8. A strategic vision constitutes management's view and conclusions about the company's:
A. long-term direction and what product-market-customer mix seems optimal.
B. business model and the kind of value that it is trying to deliver to customers.
C. justification of why the business will be a moneymaker.
D. past and present scope of work.
E. long-term plan for outcompeting rivals and achieving a competitive advantage.
mynursytest.store
, DOWNLOAD THE Test Bank for Crafting and Executing Strategy Concepts an
Cases The Quest for Competitive Advantage 20th Edition Thompson
9. The managerial task of developing a strategic vision for a company:
A. concerns deciding what approach the company should take to implement and execute its business model.
B. entails coming up with a fairly specific answer to "who are we, what do we do, and why are we here?"
C. is chiefly concerned with addressing what a company needs to do to successfully outcompete rivals in the marketplace.
D. involves deciding upon what strategic course a company should pursue in preparing for the future and why this directional
path makes good business sense.
E. entails coming up with a concrete plan for how the company intends to make money.
10. Which of the following is NOT an accurate attribute of an organization's strategic vision?
A. Providing a panoramic view of "where we are going"
B. Outlining how the company intends to implement and execute its business model
C. Pointing an organization in a particular direction and charting a strategic path for it to follow
D. Helping mold an organization's character and identity
E. Describing the company's future product-market-customer focus
11. Management's strategic vision for an organization:
A. charts a strategic course for the organization ("where we are going") and provides a rationale for why this directional path
makes good sense.
B. describes in fairly specific terms the organization's strategic objectives, and strategy.
C. spells out how the company will become a big moneymaker and boost shareholder value.
D. addresses the critical issue of "why our business model needs to change and how we plan to change it."
E. spells out the organization's strategic intent and the actions and moves that will be undertaken to achieve it.
12. Well-conceived visions are ________ and ____________ to a particular organization and they avoid generic, feel-good
statements that could apply to hundreds of organizations.
A. widespread; unique
B. recurring; customary
C. distinctive; specific
D. customary; familiar
E. universal; established
13. What a company's top executives are saying about where the company is headed long term and about what the company's future
product-market-customer mix will be:
A. indicates what kind of business model the company is going to have in the future.
B. constitutes the strategic vision for the company.
C. signals what the firm's financial strategy will be.
D. serves to define the company's present scope of operation.
E. indicates what kind of products the company will offer in the future.
mynursytest.store
Cases The Quest for Competitive Advantage 20th Edition Thompson
Chapter 02 Test Bank
Student: ___________________________________________________________________________
1. Which one of the following is NOT one of the five basic tasks of the strategy-making, strategy-executing process?
A. Developing a strategic vision of where the company needs to head and what its future business makeup will be
B. Setting objectives to convert the strategic vision into specific strategic and financial performance outcomes for the company
to achieve
C. Crafting a strategy to achieve the objectives and get the company where it wants to go
D. Developing a profitable business model
E. Executing the chosen strategy efficiently and effectively
2. A company's strategic plan:
A. maps out the company's history.
B. links the company's financial targets to control mechanisms.
C. outlines the competitive moves and approaches to be used in achieving the desired business results.
D. focuses on offering a more appealing product than rivals.
E. lists methods of making money in its chosen business.
3. Which of the following is an integral part of the managerial process of crafting and executing strategy?
A. Developing a proven business model
B. Deciding how much of the company's resources to employ in the pursuit of sustainable competitive advantage
C. Setting objectives and using them as yardsticks for measuring the company's performance and progress
D. Communicating the company's values and code of conduct to all employees
E. Deciding on the company's strategic intent
4. Which of the following are integral parts of the managerial process of crafting and executing strategy?
A. Developing a strategic vision, setting objectives, and crafting a strategy
B. Developing a proven business model, deciding on the company's strategic intent, and crafting a strategy
C. Setting objectives, crafting a strategy, implementing and executing the chosen strategy, and deciding how much of the
company's resources to employ in the pursuit of sustainable competitive advantage
D. Coming up with a statement of the company's mission and purpose, setting objectives, choosing what business approaches to
employ, selecting a business model, and monitoring developments
E. Deciding on the company's strategic intent, setting financial objectives, crafting a strategy, and choosing what business
approaches and operating practices to employ
mynursytest.store
,DOWNLOAD THE Test Bank for Crafting and Executing Strategy Concepts an
Cases The Quest for Competitive Advantage 20th Edition Thompson
5. The strategy-making, strategy-executing process:
A. is usually delegated to members of a company's board of directors.
B. includes establishing a company's mission, developing a business model aimed at making the company an industry leader, and
crafting a strategy to implement and execute the business model.
C. embraces the tasks of developing a strategic vision, setting objectives, crafting a strategy, implementing and executing the
strategy, and then monitoring developments and initiating corrective adjustments in light of experience, changing conditions,
and new opportunities.
D. is principally concerned with sizing up an organization's internal and external situation, so as to be prepared for the challenges
of developing a sound business model.
E. is primarily the responsibility of top executives and the board of directors; very few managers below this level are involved in
the process.
6. A company's strategic vision describes:
A. "who we are and what we do."
B. why the company does certain things in trying to please its customers.
C. management's storyline of how it intends to make a profit with the chosen strategy.
D. management's aspirations for the future and the company's strategic course and long-term direction.
E. what future actions the enterprise will likely undertake to outmaneuver rivals and achieve a sustainable competitive
advantage.
7. The real purpose of the company's strategic vision:
A. is management's story line for how it plans to implement and execute a profitable business model.
B. sets forth what business the company is presently in and why it uses particular operating practices in trying to please
customers.
C. serves as management's tool for giving the organization a sense of direction.
D. defines "who we are and what we do."
E. spells out a company's strategic intent, its strategic and financial objectives, and the business approaches and operating
practices that will underpin its efforts to achieve sustainable competitive advantage.
8. A strategic vision constitutes management's view and conclusions about the company's:
A. long-term direction and what product-market-customer mix seems optimal.
B. business model and the kind of value that it is trying to deliver to customers.
C. justification of why the business will be a moneymaker.
D. past and present scope of work.
E. long-term plan for outcompeting rivals and achieving a competitive advantage.
mynursytest.store
, DOWNLOAD THE Test Bank for Crafting and Executing Strategy Concepts an
Cases The Quest for Competitive Advantage 20th Edition Thompson
9. The managerial task of developing a strategic vision for a company:
A. concerns deciding what approach the company should take to implement and execute its business model.
B. entails coming up with a fairly specific answer to "who are we, what do we do, and why are we here?"
C. is chiefly concerned with addressing what a company needs to do to successfully outcompete rivals in the marketplace.
D. involves deciding upon what strategic course a company should pursue in preparing for the future and why this directional
path makes good business sense.
E. entails coming up with a concrete plan for how the company intends to make money.
10. Which of the following is NOT an accurate attribute of an organization's strategic vision?
A. Providing a panoramic view of "where we are going"
B. Outlining how the company intends to implement and execute its business model
C. Pointing an organization in a particular direction and charting a strategic path for it to follow
D. Helping mold an organization's character and identity
E. Describing the company's future product-market-customer focus
11. Management's strategic vision for an organization:
A. charts a strategic course for the organization ("where we are going") and provides a rationale for why this directional path
makes good sense.
B. describes in fairly specific terms the organization's strategic objectives, and strategy.
C. spells out how the company will become a big moneymaker and boost shareholder value.
D. addresses the critical issue of "why our business model needs to change and how we plan to change it."
E. spells out the organization's strategic intent and the actions and moves that will be undertaken to achieve it.
12. Well-conceived visions are ________ and ____________ to a particular organization and they avoid generic, feel-good
statements that could apply to hundreds of organizations.
A. widespread; unique
B. recurring; customary
C. distinctive; specific
D. customary; familiar
E. universal; established
13. What a company's top executives are saying about where the company is headed long term and about what the company's future
product-market-customer mix will be:
A. indicates what kind of business model the company is going to have in the future.
B. constitutes the strategic vision for the company.
C. signals what the firm's financial strategy will be.
D. serves to define the company's present scope of operation.
E. indicates what kind of products the company will offer in the future.
mynursytest.store
