MGMT 5560 EXAM 1 GLO-BUS EXAM
2025 RATED A+ FOR SUCCESS
, Chapter 1 - ANSWERChapter 1
The difference between a company's strategy and a company's business model is that -
ANSWERits strategy is defined by the specific market positioning, competitive moves,
and business approaches management employes to try to produce good business
results while its business model relates to management's blueprint for delivering a
valuable product or service to customers in a manner that will generate revenues
sufficient to cover costs and yield an attractive profit
Which of the following is NOT something a company's strategy is concerned with -
ANSWERManagement's choice of which of several alternative business models to
employ in delivering value to customers and to shareholders
A portion of a company's strategy is always developed on the fly because -
ANSWERmanagers must always be willing to supplement or modify various proactive
strategy elements with as-needed reactions to unanticipated happenings in the
surrounding environment
Which of the following questions can be used to distinguish a winning strategy from a
mediocre or losing strategy? - ANSWERHow well does the strategy fit the company's
situation?
The reputational and financial damage that unethical strategies and behavior can do to
a company - ANSWERis substantial; consequently, there are good business reasons for
a company and its personnel to avoid unethical strategic actions and behaviors
A company's business model - ANSWERsets forth how its strategy and operating
approaches will create value for customers while at the same time generating revenues
sufficient to cover costs and realize a profit
The two crucial elements of a company's business model are - ANSWERits customer
value propoition (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 propoition, such that the company will be able
to simultaneously deliver the intended value to customers and delvier appealing profits
to shareholders)
How well a company performs and the degree of market success it achieves are directly
attributable to - ANSWERthe caliber of its strategy and the proficiency with which the
strategy is executed
2025 RATED A+ FOR SUCCESS
, Chapter 1 - ANSWERChapter 1
The difference between a company's strategy and a company's business model is that -
ANSWERits strategy is defined by the specific market positioning, competitive moves,
and business approaches management employes to try to produce good business
results while its business model relates to management's blueprint for delivering a
valuable product or service to customers in a manner that will generate revenues
sufficient to cover costs and yield an attractive profit
Which of the following is NOT something a company's strategy is concerned with -
ANSWERManagement's choice of which of several alternative business models to
employ in delivering value to customers and to shareholders
A portion of a company's strategy is always developed on the fly because -
ANSWERmanagers must always be willing to supplement or modify various proactive
strategy elements with as-needed reactions to unanticipated happenings in the
surrounding environment
Which of the following questions can be used to distinguish a winning strategy from a
mediocre or losing strategy? - ANSWERHow well does the strategy fit the company's
situation?
The reputational and financial damage that unethical strategies and behavior can do to
a company - ANSWERis substantial; consequently, there are good business reasons for
a company and its personnel to avoid unethical strategic actions and behaviors
A company's business model - ANSWERsets forth how its strategy and operating
approaches will create value for customers while at the same time generating revenues
sufficient to cover costs and realize a profit
The two crucial elements of a company's business model are - ANSWERits customer
value propoition (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 propoition, such that the company will be able
to simultaneously deliver the intended value to customers and delvier appealing profits
to shareholders)
How well a company performs and the degree of market success it achieves are directly
attributable to - ANSWERthe caliber of its strategy and the proficiency with which the
strategy is executed
