Crafting and Executing Strategy Quest for Competitive
Advantage Concepts and Cases 23rd Edition by
Thompson CH01
ANSWERS ARE LOCATED IN THE SECOND PART OF THIS DOCUMENT
MULTIPLE CHOICE - Choose the one alternative that best completes the statement or
answers the question.
1) Managers of all types of business organizations must develop a clear answer for which of
the following questions?
1)
A) What approaches do we need to take in order to gain a competitive advantage in the
marketplace?
B) What is the set of actions that we need to take to outperform competitors and achieve
superior profitability?
C) Where are we now?
D) Where do we go from here?
E) When will we know that we are there?
Question Details
Difficulty : 1 Easy
Topic : Strategy and the Strategic Management Process
Learning Objective : 01-01 Understand what is meant by a company’s strategy and why it needs to diffe
Bloom's : Remember
AACSB : Knowledge Application
Accessibility : Keyboard Navigation
Gradable : automatic
2) Sanofi, a pharmaceutical company selling prescription drugs in France for the past 10
years, has had moderate sales in a crowded market while its rivals manufacture and market drugs
having similar efficacy and safety precautions, but with superior market share. This particular
pharmaceutical company's greatest challenge is to increase prescriptions of their drugs by French
doctors. What would be the most effective strategy for Sanofi to improve sales performance in its
existing market?
2)
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mynursytest.store
, A) modifying marketing communication to increase brand familiarity within key
physician segments
B) relocating all the existing drug manufacturing facilities to developing countries to
reduce operational costs
C) employing hiring plans that aim at acquiring drug designers from rival companies
D) exiting the market and entering a new unexplored geographical location
E) engaging in new contract talks with suppliers about price breaks
Question Details
Topic : Strategy and the Strategic Management Process
Learning Objective : 01-01 Understand what is meant by a company’s strategy and why it needs to diffe
Accessibility : Keyboard Navigation
Difficulty : 3 Hard
Bloom's : Apply
AACSB : Analytical Thinking
Gradable : automatic
3) You have been hired as a consultant by SandCloud, a venture-backed established
company in the beachwear and toweling markets. SandCloud’s owners are weighing a decision
to donate a part of its profits to a children's charity to improve its market image. Your advice to
SandCloud regarding strategy is that it will consist of the action plan management takes to
3)
A) develop a more appealing business model than rival beachwear and toweling
companies.
B) compete against rivals in the beachwear and toweling industry and establish a
transitory competitive advantage.
C) concentrate on improving its existing product offering irrespective of its decision to
donate a percentage of its profits to a children’s charity.
D) stake out a unique market position in beachwear and toweling markets and achieve
superior profitability.
E) identify its strategic vision, its strategic objectives, and its strategic intent.
Version 1 2
mynursytest.store
,Question Details
Topic : Strategy and the Strategic Management Process
Learning Objective : 01-01 Understand what is meant by a company’s strategy and why it needs to diffe
AACSB : Knowledge Application
Accessibility : Keyboard Navigation
Bloom's : Apply
Difficulty : 2 Medium
Gradable : automatic
4) Keurig, the coffee machine manufacturer, sells high-quality espresso machines at a very
low price and also provides low-cost refills of varietal coffee pods at a relatively higher price
than rivals. The action steps that Keurig’s managers take to outperform the company's
competitors and achieve superior profitability are known as its
4)
A) strategy.
B) mission statement.
C) strategic intent.
D) value-cost-price framework.
E) market visioning statement.
Question Details
Topic : Strategy and the Strategic Management Process
Learning Objective : 01-01 Understand what is meant by a company’s strategy and why it needs to diffe
Bloom's : Remember
AACSB : Knowledge Application
Accessibility : Keyboard Navigation
Difficulty : 2 Medium
Gradable : automatic
5) Strategy, at its essence, is about
5)
Version 1 3
mynursytest.store
, A) matching rival businesses' products and quality dimensions in the marketplace.
B) building profits for short-term success.
C) realigning the market to provoke change in rival companies.
D) developing lasting success that can support growth and secure the company's future
over the long term.
E) re-creating a business model with regularity.
Question Details
Topic : Strategy and the Strategic Management Process
Learning Objective : 01-01 Understand what is meant by a company’s strategy and why it needs to diffe
Accessibility : Keyboard Navigation
AACSB : Analytical Thinking
Difficulty : 2 Medium
Bloom's : Understand
Gradable : automatic
6) To improve performance, there are many different avenues for outcompeting rivals, such
as
6)
A) realizing a higher cost structure and lower operating profit margins than rivals in
order to drive sales growth.
B) creating products analogous with competitors so as to be competitive in the same
markets.
C) pursuing similar personalized customer service or quality dimensions as rivals.
D) being undecided whether to concentrate operations on local or global markets.
E) strengthening competitiveness by pursuing strategic alliances and collaborative
partnerships.
Version 1 4
mynursytest.store
Advantage Concepts and Cases 23rd Edition by
Thompson CH01
ANSWERS ARE LOCATED IN THE SECOND PART OF THIS DOCUMENT
MULTIPLE CHOICE - Choose the one alternative that best completes the statement or
answers the question.
1) Managers of all types of business organizations must develop a clear answer for which of
the following questions?
1)
A) What approaches do we need to take in order to gain a competitive advantage in the
marketplace?
B) What is the set of actions that we need to take to outperform competitors and achieve
superior profitability?
C) Where are we now?
D) Where do we go from here?
E) When will we know that we are there?
Question Details
Difficulty : 1 Easy
Topic : Strategy and the Strategic Management Process
Learning Objective : 01-01 Understand what is meant by a company’s strategy and why it needs to diffe
Bloom's : Remember
AACSB : Knowledge Application
Accessibility : Keyboard Navigation
Gradable : automatic
2) Sanofi, a pharmaceutical company selling prescription drugs in France for the past 10
years, has had moderate sales in a crowded market while its rivals manufacture and market drugs
having similar efficacy and safety precautions, but with superior market share. This particular
pharmaceutical company's greatest challenge is to increase prescriptions of their drugs by French
doctors. What would be the most effective strategy for Sanofi to improve sales performance in its
existing market?
2)
Version 1 1
mynursytest.store
, A) modifying marketing communication to increase brand familiarity within key
physician segments
B) relocating all the existing drug manufacturing facilities to developing countries to
reduce operational costs
C) employing hiring plans that aim at acquiring drug designers from rival companies
D) exiting the market and entering a new unexplored geographical location
E) engaging in new contract talks with suppliers about price breaks
Question Details
Topic : Strategy and the Strategic Management Process
Learning Objective : 01-01 Understand what is meant by a company’s strategy and why it needs to diffe
Accessibility : Keyboard Navigation
Difficulty : 3 Hard
Bloom's : Apply
AACSB : Analytical Thinking
Gradable : automatic
3) You have been hired as a consultant by SandCloud, a venture-backed established
company in the beachwear and toweling markets. SandCloud’s owners are weighing a decision
to donate a part of its profits to a children's charity to improve its market image. Your advice to
SandCloud regarding strategy is that it will consist of the action plan management takes to
3)
A) develop a more appealing business model than rival beachwear and toweling
companies.
B) compete against rivals in the beachwear and toweling industry and establish a
transitory competitive advantage.
C) concentrate on improving its existing product offering irrespective of its decision to
donate a percentage of its profits to a children’s charity.
D) stake out a unique market position in beachwear and toweling markets and achieve
superior profitability.
E) identify its strategic vision, its strategic objectives, and its strategic intent.
Version 1 2
mynursytest.store
,Question Details
Topic : Strategy and the Strategic Management Process
Learning Objective : 01-01 Understand what is meant by a company’s strategy and why it needs to diffe
AACSB : Knowledge Application
Accessibility : Keyboard Navigation
Bloom's : Apply
Difficulty : 2 Medium
Gradable : automatic
4) Keurig, the coffee machine manufacturer, sells high-quality espresso machines at a very
low price and also provides low-cost refills of varietal coffee pods at a relatively higher price
than rivals. The action steps that Keurig’s managers take to outperform the company's
competitors and achieve superior profitability are known as its
4)
A) strategy.
B) mission statement.
C) strategic intent.
D) value-cost-price framework.
E) market visioning statement.
Question Details
Topic : Strategy and the Strategic Management Process
Learning Objective : 01-01 Understand what is meant by a company’s strategy and why it needs to diffe
Bloom's : Remember
AACSB : Knowledge Application
Accessibility : Keyboard Navigation
Difficulty : 2 Medium
Gradable : automatic
5) Strategy, at its essence, is about
5)
Version 1 3
mynursytest.store
, A) matching rival businesses' products and quality dimensions in the marketplace.
B) building profits for short-term success.
C) realigning the market to provoke change in rival companies.
D) developing lasting success that can support growth and secure the company's future
over the long term.
E) re-creating a business model with regularity.
Question Details
Topic : Strategy and the Strategic Management Process
Learning Objective : 01-01 Understand what is meant by a company’s strategy and why it needs to diffe
Accessibility : Keyboard Navigation
AACSB : Analytical Thinking
Difficulty : 2 Medium
Bloom's : Understand
Gradable : automatic
6) To improve performance, there are many different avenues for outcompeting rivals, such
as
6)
A) realizing a higher cost structure and lower operating profit margins than rivals in
order to drive sales growth.
B) creating products analogous with competitors so as to be competitive in the same
markets.
C) pursuing similar personalized customer service or quality dimensions as rivals.
D) being undecided whether to concentrate operations on local or global markets.
E) strengthening competitiveness by pursuing strategic alliances and collaborative
partnerships.
Version 1 4
mynursytest.store
