ESSENTIALS OF STRATEGIC MANAGEMENT THE
QUEST FOR COMPETITIVE ADVANTAGE 8E BY
JOHN GAMBLE, ARTHUR THOMPSON AND
MARGARET PETERAF INSTRUCTOR SOLUTION
MANUAL
A well-conceived strategy builds a company's - ANSWER Ethical worthiness and
corporate social responsibility
Which of the following is not a frequently used strategic approach to setting a
company apart from rivals and achieving a sustainable competitive advantage? -
ANSWER Simply trying to mimic successful strategies of rivals
An industrial air-conditioner manufacturing giant decides to outsource its operations
to a new geographical location with cheaper labor amidst ongoing labor strikes in a
few of its existing locations (due to proposed job cuts and relocation of the plant
offshore). This draws criticism in its home market and affects its current market
position and productivity. Which of the following would be an appropriate reactive
(emergent) strategy while moving forward? - ANSWER Canceling the job cuts till
the market situation and entry operations stabilize
A company achieves sustainable competitive advantage when - ANSWER a
sufficiently large number of buyers have a lasting preference for its products or
services as compared to the offerings of competitors.
A company's realized business strategy is made up of - ANSWER both deliberate
and/or planned initiatives that have proven themselves in the marketplace and newly
launched initiatives aimed at further boosting performance and emergent and/or
reactive adjustments to unanticipated strategic moves by rivals, unexpected changes
in customer preferences, and new market opportunities.
Which of the following is a not a frequently used strategic approach to setting a
company apart from rivals and achieving a sustainable competitive advantage? -
ANSWER Copying rivals on their competitive moves
Different companies across different industries adopt any one of the five generic
strategies to gain competitive advantage. Which of the following businesses is most
likely to use a low-cost provider strategy? - ANSWER A baby products retailer sells
unassembled baby furniture produced in China
Amy's Drive-Thru, a fast food facility near a college campus, offers healthy,
sustainably grown vegetarian and vegan fast-food at higher prices than its
competitors in the market and has a drive-through and indoor-seated, casual-dining
operation. What strategy is Amy's Drive-Thru using to gain a competitive advantage?
- ANSWER A focused differentiation strategy
,A company's strategy has a chance of succeeding only when it is predicated on -
ANSWER actions, business approaches, and competitive moves aimed at
appealing to buyers and setting the company apart from rivals.
The essence of strategy is - ANSWER developing lasting success that can support
growth and secure the company's future over the long term.
A creative, distinctive strategy that delivers a sustainable, competitive advantage is
important because - ANSWER a strategy that yields a competitive advantage over
rivals is a company's most reliable means of achieving above-average profitability
and financial performance.
Managers of every company should be willing and ready to modify their strategy
because - ANSWER market conditions and circumstances are changing over time
or the current strategy is clearly failing.
A company's strategy consists of - ANSWER competitive moves and approaches
that managers have developed to grow the business, attract and please customers,
conduct operations, and achieve targeted objectives.
Managers in all types of businesses must develop a clear answer for which of the
following questions? - ANSWER What is the set of actions that we need to take to
outperform the company's competitors and achieve superior profitability?
A pharmaceutical giant acquires a manufacturer of rare specialty drugs to improve its
falling share prices and invests all its wealth into the deal. Due to a deficit, it agrees
to do a joint venture for the acquisition and involves a major automobile giant to fund
the deal. After a rocky start, the companies now have a strong market position and
generate good profits. Which of the following regarding the company's strategy is
true? - ANSWER It is a winning strategy.
A company's strategy is a "work in progress" and evolves over time because of the -
ANSWER ongoing need of company managers to react and respond to changing
industry and competitive conditions.
Consider the following three companies and their strategies: Company A is an
established database management company that acquires a well-reputed but small
publishing house to enter the booming publishing industry.Company B, a sports
management house, declared bankruptcy during a recent recession but now has
created a television network that airs regional sports events.Company C, a package
delivery business, is a startup based on delivery efficiency models created by a few
students and delivers almost all kinds of packages. Which of the following describes
the use of strategies by these companies accurately? - ANSWER All three
companies employ deliberate strategies.
Rainbow Resorts Inc. has multiple tropical resorts in various locations. In a crowded
market that caters to all kinds of consumers, this resort caters mainly to LGBTQ
customers with a guaranteed hassle-free holiday experience at a premium price.
, What strategy is Rainbow using to gain competitive advantage? - ANSWER A
focused differentiation strategy
Which of the following questions ought to be used to distinguish a winning strategy
from a so-so or flawed strategy? - ANSWER Is the strategy well matched to the
company's situation, helping the company achieve a sustainable competitive
advantage and resulting in better company performance?
Crafting a strategy involves - ANSWER blending deliberate, planned initiatives with
emergent, unplanned reactive responses to changing circumstances, while
abandoning planned strategy elements that have failed in the marketplace.
A company's business model - ANSWER is management's blueprint for delivering
a valuable product or service to customers in a manner that will yield an attractive
profit.
It is normal for a company's strategy to end up being - ANSWER a blend of
deliberate planned actions to improve the company's competitiveness and financial
performance and as-needed unplanned reactions to unanticipated developments
and fresh market conditions.
The most important aspect(s) of a company's business strategy - ANSWER are the
actions and moves in the marketplace that managers take to gain a sustainable
competitive advantage.
Which of the following is not typically a trigger to an evolving strategy? - ANSWER
The need to respond to short-term swings in the stock market
Which of the following is not an element of a company's business strategy? -
ANSWER Actions to revise the company's financial and strategic performance
targets
A creative, distinctive strategy that sets a company apart from its rivals and that
gives it a sustainable competitive advantage - ANSWER signals that the company
has a bold, ambitious strategic intent that places the achievement of strategic
objectives ahead of the achievement of financial objectives.
To which of the following firms is the term "repeatedly evolving strategy" most
applicable? - ANSWER A mobile company, established in a saturated market, that
aims at a quarterly release of new products
Which of the following is not something a company's strategy is concerned with? -
ANSWER Management's choices about how quickly and closely to copy the
strategies being used by successful rival companies
Changing circumstances and ongoing managerial efforts to improve the strategy -
ANSWER account for why a company's strategy evolves over time.
QUEST FOR COMPETITIVE ADVANTAGE 8E BY
JOHN GAMBLE, ARTHUR THOMPSON AND
MARGARET PETERAF INSTRUCTOR SOLUTION
MANUAL
A well-conceived strategy builds a company's - ANSWER Ethical worthiness and
corporate social responsibility
Which of the following is not a frequently used strategic approach to setting a
company apart from rivals and achieving a sustainable competitive advantage? -
ANSWER Simply trying to mimic successful strategies of rivals
An industrial air-conditioner manufacturing giant decides to outsource its operations
to a new geographical location with cheaper labor amidst ongoing labor strikes in a
few of its existing locations (due to proposed job cuts and relocation of the plant
offshore). This draws criticism in its home market and affects its current market
position and productivity. Which of the following would be an appropriate reactive
(emergent) strategy while moving forward? - ANSWER Canceling the job cuts till
the market situation and entry operations stabilize
A company achieves sustainable competitive advantage when - ANSWER a
sufficiently large number of buyers have a lasting preference for its products or
services as compared to the offerings of competitors.
A company's realized business strategy is made up of - ANSWER both deliberate
and/or planned initiatives that have proven themselves in the marketplace and newly
launched initiatives aimed at further boosting performance and emergent and/or
reactive adjustments to unanticipated strategic moves by rivals, unexpected changes
in customer preferences, and new market opportunities.
Which of the following is a not a frequently used strategic approach to setting a
company apart from rivals and achieving a sustainable competitive advantage? -
ANSWER Copying rivals on their competitive moves
Different companies across different industries adopt any one of the five generic
strategies to gain competitive advantage. Which of the following businesses is most
likely to use a low-cost provider strategy? - ANSWER A baby products retailer sells
unassembled baby furniture produced in China
Amy's Drive-Thru, a fast food facility near a college campus, offers healthy,
sustainably grown vegetarian and vegan fast-food at higher prices than its
competitors in the market and has a drive-through and indoor-seated, casual-dining
operation. What strategy is Amy's Drive-Thru using to gain a competitive advantage?
- ANSWER A focused differentiation strategy
,A company's strategy has a chance of succeeding only when it is predicated on -
ANSWER actions, business approaches, and competitive moves aimed at
appealing to buyers and setting the company apart from rivals.
The essence of strategy is - ANSWER developing lasting success that can support
growth and secure the company's future over the long term.
A creative, distinctive strategy that delivers a sustainable, competitive advantage is
important because - ANSWER a strategy that yields a competitive advantage over
rivals is a company's most reliable means of achieving above-average profitability
and financial performance.
Managers of every company should be willing and ready to modify their strategy
because - ANSWER market conditions and circumstances are changing over time
or the current strategy is clearly failing.
A company's strategy consists of - ANSWER competitive moves and approaches
that managers have developed to grow the business, attract and please customers,
conduct operations, and achieve targeted objectives.
Managers in all types of businesses must develop a clear answer for which of the
following questions? - ANSWER What is the set of actions that we need to take to
outperform the company's competitors and achieve superior profitability?
A pharmaceutical giant acquires a manufacturer of rare specialty drugs to improve its
falling share prices and invests all its wealth into the deal. Due to a deficit, it agrees
to do a joint venture for the acquisition and involves a major automobile giant to fund
the deal. After a rocky start, the companies now have a strong market position and
generate good profits. Which of the following regarding the company's strategy is
true? - ANSWER It is a winning strategy.
A company's strategy is a "work in progress" and evolves over time because of the -
ANSWER ongoing need of company managers to react and respond to changing
industry and competitive conditions.
Consider the following three companies and their strategies: Company A is an
established database management company that acquires a well-reputed but small
publishing house to enter the booming publishing industry.Company B, a sports
management house, declared bankruptcy during a recent recession but now has
created a television network that airs regional sports events.Company C, a package
delivery business, is a startup based on delivery efficiency models created by a few
students and delivers almost all kinds of packages. Which of the following describes
the use of strategies by these companies accurately? - ANSWER All three
companies employ deliberate strategies.
Rainbow Resorts Inc. has multiple tropical resorts in various locations. In a crowded
market that caters to all kinds of consumers, this resort caters mainly to LGBTQ
customers with a guaranteed hassle-free holiday experience at a premium price.
, What strategy is Rainbow using to gain competitive advantage? - ANSWER A
focused differentiation strategy
Which of the following questions ought to be used to distinguish a winning strategy
from a so-so or flawed strategy? - ANSWER Is the strategy well matched to the
company's situation, helping the company achieve a sustainable competitive
advantage and resulting in better company performance?
Crafting a strategy involves - ANSWER blending deliberate, planned initiatives with
emergent, unplanned reactive responses to changing circumstances, while
abandoning planned strategy elements that have failed in the marketplace.
A company's business model - ANSWER is management's blueprint for delivering
a valuable product or service to customers in a manner that will yield an attractive
profit.
It is normal for a company's strategy to end up being - ANSWER a blend of
deliberate planned actions to improve the company's competitiveness and financial
performance and as-needed unplanned reactions to unanticipated developments
and fresh market conditions.
The most important aspect(s) of a company's business strategy - ANSWER are the
actions and moves in the marketplace that managers take to gain a sustainable
competitive advantage.
Which of the following is not typically a trigger to an evolving strategy? - ANSWER
The need to respond to short-term swings in the stock market
Which of the following is not an element of a company's business strategy? -
ANSWER Actions to revise the company's financial and strategic performance
targets
A creative, distinctive strategy that sets a company apart from its rivals and that
gives it a sustainable competitive advantage - ANSWER signals that the company
has a bold, ambitious strategic intent that places the achievement of strategic
objectives ahead of the achievement of financial objectives.
To which of the following firms is the term "repeatedly evolving strategy" most
applicable? - ANSWER A mobile company, established in a saturated market, that
aims at a quarterly release of new products
Which of the following is not something a company's strategy is concerned with? -
ANSWER Management's choices about how quickly and closely to copy the
strategies being used by successful rival companies
Changing circumstances and ongoing managerial efforts to improve the strategy -
ANSWER account for why a company's strategy evolves over time.
