Questions:
Question 1
A firm has achieved ____ when it successfully formulates and implements a value-creating strategy.??
. strategic competitiveness
. a permanently sustainable competitive advantage
. substantial returns
. legal and ethical core values
Question 2
. ? Above-average returns are:??
. higher profits than the firm earned last year.
. higher profits than the industry average over the last 10 years.
. profits in excess of what an investor expects to earn from a historical pattern of performance of the firm.
. profits in excess of what an investor expects to earn from other investments with a similar level of risk.
?Question 3
. ? The strategic management process is??
. a set of activities that will assure a sustainable competitive advantage and above-average returns for the firm.
. a decision-making activity concerned with a firm's internal resources, capabilities, and competencies, independent of the conditions in its external environment.
. a process directed by top-management with input from other stakeholders that seeks to achieve above-average returns for investors through effective use of the organization's resources.
. the full set of commitments, decisions, and actions required for the firm to achieve above-average returns and strategic competitiveness.
Question 4
. ? The economic interdependence among countries as reflected in the free movement of goods, services, financial capital and knowledge across geographic borders is defined as??
. hypercompetition.
. boundaryless retailing.
. strategic intensity.
. globalization.
Question 5
. ? All of the following are assumptions of the industrial organization (I/O) model EXCEPT,??
. Organizational decision makers are rational and committed to acting in the firm's best interests.
. Resources to implement strategies are firm-specific and attached to firms over the long-term.
. The external environment is assumed to impose pressures and constraints that determine the strategies that result in above-average returns.
. Firms in given industries, or given industry segments, are assumed to control similar strategically relevant resources.
Question 6
. ? To have the potential to become sources of competitive advantage, resources and capabilities must be non-substitutable, valuable, ____, and ____.??
. unique, easy to imitate.
. easy to imitate, difficult to implement.
. rare, costly to imitate.
. easy to implement, unique.
Question 7
. ? The goal of the organization's ____ is to capture the hearts and minds of employees, challenge them, and evoke their emotions and dreams.??
. Vision
. Mission
. Culture
. Strategy
Question 8
. ? Capital market stakeholders include??
. industry competitors.
. shareholders.
. employees.
. government regulators.
Question 9
. ? Organizational stakeholders include??
. Unions.
. host communities.
. employees.
. suppliers of capital.
Question 10
. ? Product market stakeholders include??
. Suppliers
. Shareholders
. Employees
. the firm's chief executive officer