MEDSTUDY.COM
TEST BANK
M
ED
ST
U
D
Y
TEST BANK
,MEDSTUDY.COM
M
ED
ST
U
D
Y
,MEDSTUDY.COM
TEST BANK
Strategic Management and Competitive
Advantage: Concepts and Cases 6th Edition
Jay Barney, William Hesterly
Chapter 1-12 Answers are at the End of Each Chapter
M
Chapter 1
Student name:
ED
1) A good strategy allows a firm to achieve superior performance and sustainable competitive
advantage without regard to the external environment.
⊚ true
⊚ false
ST
2) The following statement by the chief executive of MegaFilms movie studio should not be
used as a strategy: “We will produce the greatest films of the 21st century.”
⊚ true
U
⊚ false
D
3) The three tasks of the AFI strategy framework are to Assemble a prototype, Find a buyer, and
Incorporate feedback.
⊚ true
Y
⊚ false
4) Questions asked during the strategy analysis stage of the AFI framework should include
“What effects do forces in the external environment have on the firm’s potential to gain and
sustain a competitive advantage?”
⊚ true
⊚ false
, MEDSTUDY.COM
5) Once a strategy has been formulated and implemented, it is important that the firm sticks to it
no matter what happens.
⊚ true
⊚ false
6) Because they are a crucial component of a firm’s success, customers are considered internal
stakeholders.
⊚ true
⊚ false
M
7) A firm is required by society and its shareholders to meet its ethical and philanthropic
responsibilities.
⊚ true
ED
⊚ false
8) Stakeholder impact analysis provides a decision tool that helps strategic leaders recognize the
needs of different stakeholders.
ST
⊚ true
⊚ false
9) Juan wants to open his own hot dog restaurant but doesn’t know anything about business. He
U
needs help determining who his competition is, how he should craft his strategy to compete
and how he’ll implement his strategy to achieve a competitive advantage. He’s hired you to
D
help him get started. As a result, you will probably use which of the following?
A) AFI strategy framework
B) Red Queen effect
Y
C) competitive benchmarking
D) Stakeholder Impact analysis
TEST BANK
M
ED
ST
U
D
Y
TEST BANK
,MEDSTUDY.COM
M
ED
ST
U
D
Y
,MEDSTUDY.COM
TEST BANK
Strategic Management and Competitive
Advantage: Concepts and Cases 6th Edition
Jay Barney, William Hesterly
Chapter 1-12 Answers are at the End of Each Chapter
M
Chapter 1
Student name:
ED
1) A good strategy allows a firm to achieve superior performance and sustainable competitive
advantage without regard to the external environment.
⊚ true
⊚ false
ST
2) The following statement by the chief executive of MegaFilms movie studio should not be
used as a strategy: “We will produce the greatest films of the 21st century.”
⊚ true
U
⊚ false
D
3) The three tasks of the AFI strategy framework are to Assemble a prototype, Find a buyer, and
Incorporate feedback.
⊚ true
Y
⊚ false
4) Questions asked during the strategy analysis stage of the AFI framework should include
“What effects do forces in the external environment have on the firm’s potential to gain and
sustain a competitive advantage?”
⊚ true
⊚ false
, MEDSTUDY.COM
5) Once a strategy has been formulated and implemented, it is important that the firm sticks to it
no matter what happens.
⊚ true
⊚ false
6) Because they are a crucial component of a firm’s success, customers are considered internal
stakeholders.
⊚ true
⊚ false
M
7) A firm is required by society and its shareholders to meet its ethical and philanthropic
responsibilities.
⊚ true
ED
⊚ false
8) Stakeholder impact analysis provides a decision tool that helps strategic leaders recognize the
needs of different stakeholders.
ST
⊚ true
⊚ false
9) Juan wants to open his own hot dog restaurant but doesn’t know anything about business. He
U
needs help determining who his competition is, how he should craft his strategy to compete
and how he’ll implement his strategy to achieve a competitive advantage. He’s hired you to
D
help him get started. As a result, you will probably use which of the following?
A) AFI strategy framework
B) Red Queen effect
Y
C) competitive benchmarking
D) Stakeholder Impact analysis
