A) blending deliberate,planned initiatives with emergent,unplanned reactive responses to changing circumstances,while abandoning planned strategy elements that have failed in the marketplace.
B) developing a five-year strategic plan and then fine-tuning it during the remainder of the plan period.
C) trying to imitate as much of the market leader's strategy as possible so as not to end up at a competitive disadvantage.
D) doing everything possible (in the way of price,quality,service,warranties,advertising,and so on) to make sure the company's product and/or service is very clearly differentiated from the product and or service offerings of rivals.
E) All of these accurately characterize the managerial process of crafting a company's strategy.
G) B) and D)
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A) account for why a company's strategy evolves over time.
B) explain why a company's strategic vision undergoes almost constant change.
C) make it very difficult for a company to have concrete strategic objectives.
D) make it very hard to know what a company's strategy really is.
E) All of these choices are correct.
G) None of the above
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A) Where are we now?
B) Where do we want to go from here?
C) What moves and approaches do we need to gain advantage in the marketplace?
D) When will we know we are there?
E) All of these choices are correct.
G) None of the above
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A) actions to develop a more appealing business model than rivals.
B) plans involving alignment of organizational activities and strategic objectives.
C) offensive and defensive moves to generate revenues and increase profit margins.
D) competitive moves and approaches that managers have developed to grow the business,attract and please customers,conduct operations,and achieve targeted objectives.
E) its strategic vision,its strategic objectives,and its strategic intent.
G) A) and C)
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A) ongoing need of company managers to react and respond to changing industry and competitive conditions.
B) ongoing need to imitate the new strategic moves of the industry leaders.
C) need to make regular adjustments in the company's strategic vision.
D) importance of developing a fresh strategic plan every year.
E) frequent need to modify key elements of the company's business model.
G) B) and E)
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A) without a proven strategy,a company is likely to fall into bankruptcy.
B) without a competitive advantage,a company cannot have a profitable business model.
C) a strategy that yields a competitive advantage over rivals is a company's most reliable means of achieving above-average profitability and financial performance.
D) a competitive advantage is what enables a company to achieve its strategic objectives.
E) how a company goes about trying to please customers and outcompete rivals is what enables senior managers to choose an appropriate strategic vision for the company.
G) B) and D)
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A) actions to respond to changing economic and market conditions
B) actions to supplement the company's resources and capabilities through alliances and joint ventures
C) reactions to offensive moves by rival sellers
D) actions and approaches used in managing the functional areas of the business
E) all of these are pertinent in identifying a company's strategy.
G) All of the above
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A) builds strategic fit,is socially responsible,and maximizes shareholder wealth.
B) is highly profitable and boosts the company's market share.
C) results in a company becoming the dominant industry leader.
D) fits the company's internal and external situation,builds sustainable competitive advantage,and improves company performance.
E) can pass the ethical standards test,the strategic intent test,and the profitability test.
G) C) and E)
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A) strategy.
B) mission statement.
C) strategic intent.
D) business model.
E) strategic vision.
G) A) and B)
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A) are the actions and moves in the marketplace that managers take to gain a sustainable competitive advantage.
B) is figuring out how to maximize profits and shareholder value.
C) concerns how to improve the efficiency of its business model.
D) deals with how management plans to maximize profits while,at the same time,operating in a socially responsible manner.
E) is figuring out how to become the industry's low-cost provider.
G) A) and C)
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A) details the manner in which the company will pass the three tests of a winning strategy.
B) indicates how the strategy will result in achieving the targeted strategic objectives.
C) clarifies (1) how the business will provide customers with value,and (2) why the business will generate revenues sufficient to cover costs and produce attractive profits.
D) explains how it intends to achieve high profit margins.
E) sets forth the actions and approaches that it will employ to achieve market leadership.
G) B) and D)
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A) A company's realized strategy is mostly hidden to outside view and is deliberately kept under wraps by top-level managers.
B) A company's realized strategy is typically planned well in advance and usually deviates little from the planned set of actions.
C) A company's realized strategy generally changes very little over time unless a newly appointed CEO decides to take the company in a new direction with a new strategy.
D) A company's realized strategy is typically a blend of deliberate and/or planned initiatives and emergent and/or unplanned reactive strategy elements.
E) A company's realized strategy is developed mostly on the fly because of the constant efforts of managers to keep rival companies at a disadvantage.
G) None of the above
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A) actions to respond to changing market conditions or other external factors
B) actions to strengthen competitiveness via strategic alliances and collaborative partnerships
C) actions to strengthen internal capabilities and competitively valuable resources
D) actions to manage the functional areas of the business
E) actions to revise the company's financial and strategic performance targets
G) All of the above
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A) strategic moves by rival firms.
B) unexpected shifts in customer preferences.
C) fast-changing technological developments.
D) new market opportunities.
E) All of these choices are correct.
G) C) and D)
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A) is a reliable indicator that the company has a profitable business model.
B) is a company's most reliable ticket to above-average profitability.
C) signals that the company has a bold,ambitious strategic intent that places the achievement of strategic objectives ahead of the achievement of financial objectives.
D) is the best indicator that the company's strategy and business model are well matched and properly synchronized.
E) All of these choices are correct.
G) A) and B)
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