A winning strategy is one that

fits the company's internal and external situation, and improves the compan

The four tests of a resource's competitive power are often referred to as the

VRIN test,valuable, rare, inimitable, and nonsubstituable

Financial objectives generally are not concerned with

achieving a market share of 9 percent.

One of the most telling signs of whether a company's market position is strong or precarious is

whether its prices and costs are competitive with those of key rivals.

The defining characteristic of a well-conceived strategic vision is

the direction we are headed and the future product-market-customer focus

An example of an external threat to a company's future profitability does not include

lack of a distinctive competence

Identify the company with a low-cost provider strategy.

A baby products retailer sells unassembled baby furniture produced in China

The key success factors in an industry

competitive factors that most affect industry members' abilities to prosper

A resource of a firm is considered to be

deployed to develop and enable a firm's capabilities.

A company's dynamic capability is not manifested by its

ability to keep antiquated resources by disregarding innovative capability

A company that has competitive assets that are central to its company strategy and superior to rival firms creates a

competitive advantage over other companies

Buyer bargaining power is stronger when

the industry's products are standardized or undifferentiated.

A resource of a firm is considered to be

deployed to develop and enable a firm's capabilities.

A company's resources and capabilities represent

the firm's competitive assets that determine its competitiveness

Which of the following is not a good example of a substitute product that triggers stronger competitive pressures?

Coca-Cola as a substitute for Pepsi

studbud

GBA 498

20 termsStudBud Administration7 plays

Chapter 1-4

Flashcards20 cardsFPractice quizPHost liveL

Questions 20

Answers

1
A winning strategy is one that
is highly profitable and boosts the company's market share.
can pass the ethical standards test, the strategic intent test, and profits
results in a company becoming the dominant industry leader.
fits the company's internal and external situation, and improves the compan
2
The four tests of a resource's competitive power are often referred to as the
competitive advantage sustainable method test.
SCIR test, sustainable, competitive, internalization, reproducible
organizational capability metric analysis.
VRIN test,valuable, rare, inimitable, and nonsubstituable
3
Financial objectives generally are not concerned with
achieving a market share of 9 percent.
receiving a bond rating of AA or higher.
raising earnings per share by 2 percent.
achieving a return on equity greater than 10 percent
4
One of the most telling signs of whether a company's market position is strong or precarious is
whether its prices and costs are competitive with those of key rivals.
whether it is in a bigger or smaller strategic group than its closest rival
whether it has a lower stock price than key rivals.
whether its product is strongly or weakly differentiated from rivals.
5
________ is the set of actions that its managers take to outperform the company's competitors and achieve profits
Vision Statement
Core Values
Mission Statement
Strategy
6
The defining characteristic of a well-conceived strategic vision is
that it not stretch the company's resources too thin
that it be flexible and operate in the mainstream.
clarity and specificity about "who we are, what we do, and why we are here
the direction we are headed and the future product-market-customer focus
7
________ is not a useful financial ratio indicating how well a company's strategy is working.
Market share
Return on stockholders' equity
The company's gross profit margin
A long-term debt to equity
8
An example of an external threat to a company's future profitability does not include
adverse changes in foreign exchange rates
potential of a hostile takeover
lack of a distinctive competence
unfavorable demographic shifts
9
Identify the company with a low-cost provider strategy.
A baby products retailer sells unassembled baby furniture produced in China
A fashion clothing line uses sought-after designers and natural fabrics.
An online retailer delivers organic groceries overnight.
A mortgage company specializes in lending money for second homes.
10
When an activity becomes something a company has learned to perform proficiently and capably, the company is said
to have a resource advantage.
to have a key value chain proficiency.
to have a distinctive capability.
to have a competence.
11
Tangible resources do not include
human assets.
financial resources.
technological assets.
physical resources.
12
The key success factors in an industry
competitive factors that most affect industry members' abilities to prosper
are determined by the industry's driving forces
are a function of such considerations as how many firms are in the industry
depend on how many rivals are trying to move from one strategic group to an
13
A resource of a firm is considered to be
an environmental threat.
deployed to develop and enable a firm's capabilities.
a competitive deficiency
a market opportunity.
14
A company's dynamic capability is not manifested by its
ability to upgrade its R&D resources to drive product innovation
ability to keep antiquated resources by disregarding innovative capability
ability to replace degraded resources with acquired capabilities
capacity to improve existing resources and capabilities
15
A company that has competitive assets that are central to its company strategy and superior to rival firms creates a
competitive advantage over other companies
long-term derivative strategy
resource deployment strategic plan.
cash flow feasibility analysis.
16
A set of linked and closely integrated competitive assets centered around one or more cross-functional capabilities?
An integrated asset advantage
Resource bundles
Organizational assets B) Resource bundles
A functional method compilation
17
Buyer bargaining power is stronger when
buyers cannot integrate backward into the product market of sellers.
sellers' products are differentiated
the industry's products are standardized or undifferentiated.
winning the business of certain high-profile customers
18
A resource of a firm is considered to be
a market opportunity.
a competitive deficiency.
the capacity of a firm to competently perform some activities
deployed to develop and enable a firm's capabilities.
19
A company's resources and capabilities represent
the firm's net working capital and related determinants
the firm's competitive assets that determine its competitiveness
whether the firm has the industry's most efficient value chain
positive trends with relevant cultural factors related to buyers' choices
20
Which of the following is not a good example of a substitute product that triggers stronger competitive pressures?
Coca-Cola as a substitute for Pepsi
snowboards as a substitute for snow skis
wireless phones as a substitute for wired telephones
a salad as a substitute for French fries

GBA 498 Flashcards | StudBud