Question 1
The two tests a winning strategy must pass are the ________ test and the ________ test.
Multiple Choice
fit; profitability
performance; cost-advantage
competitive advantage; profitability
fit; performance
Question 2
A company's business model does not
Multiple Choice
constitute management's blueprint for delivering a valuable product or service to customers in a manner that will generate revenues sufficient to cover costs and yield an attractive profit.
reflect management's storyline for how the strategy will be a moneymaker.
consist of two crucial elements: (1) its customer value proposition and (2) its profit formula.
set forth the logic for how its strategy will create value for customers, while at the same time generates revenues sufficient to cover costs and realize a profit.
reflect how efficiently a company can meet customer wants and needs even at the cost of incurring loss.
Question 3
As the owner of a local housecleaning business that is trying to achieve a sustainable competitive advantage, you most likely would not
Multiple Choice
persist in competing differently, despite the best efforts of competitors to match or surpass this advantage.
have some distinctive strategic element that draws in customers and produces a competitive edge.
utilize copycat product offerings or similar maneuvers as rivals to stake out the same market position.
give buyers lasting reasons that competitors are unable to nullify or overcome despite their best efforts.
have better prospects to win in the marketplace and to earn superior long-term profits relative to rivals.
Question 4
What is not associated with the triple bottom line?
Multiple Choice
The triple bottom line refers to three types of performance metrics: economic, social, environmental.
The three dimensions of performance are often referred to in terms of the "three pillars" of people, planet, and profit.
The term people refers to various social initiatives such as charitable contributions, serving endeavors, and engaging in broader philanthropic initiatives.
The term planet refers to the company's overriding legal obligation to incorporate protection of the environment into its mission.
The term profit not only encompasses the profit earned for its shareholders but also the economic impact that the company has on society.
Question 5
The basic tenet of the school of ethical relativism states that
Multiple Choice
the standards of what constitutes ethical and unethical behavior in business situations are partly universal, but are mainly governed by local business norms.
many basic moral standards travel well across cultures and countries and really do not vary significantly according to local beliefs, mores, convictions, or circumstances.
individuals and businesses have a basic right to "moral free space," and it is inappropriate to specify permissible and impermissible actions and behaviors.
what constitutes ethical or unethical behavior on the part of local businesspeople is properly governed by local ethical standards rather than the standards that prevail in other locations.
Question 6
Business ethics can be defined as
Multiple Choice
special standards that are only applicable in business situations.
principles that are popular in conducting business, but not when crafting and executing a strategy.
the application of general ethical principles and standards to the various stakeholders of businesses.
rules that each company makes about "what is right" and "what is wrong" for top management and the board of directors.
the application of ethical principles and standards to the actions and decisions of business organizations and the conduct of their personnel.
Question 7
The key characteristics of a well-stated organizational objective are not represented by
Multiple Choice
Jet Blue's plan to grow 150 flights a day to 200 over the coming years.
lululemon's planned expansion of the brand globally through international market penetration, by opening 11 new stores in Asia and Europe, which include the first stores in China, South Korea, and Switzerland.
General Mills' plan to build a more agile organization by streamlining support functions, allowing for more fluid use of resources and idea sharing around the world; enhancing e-commerce know-how to capture more growth in this emerging channel.
Yahoo!'s extreme stretch goals to return that company to profitability and raise its stock price.
Question 8
How would you best characterize the definitive difference between a vision and a mission?
Multiple Choice
A mission statement addresses "how we are trying to make a profit today," while a strategic vision concerns "how will we make money in the markets of tomorrow."
A mission statement deals with the values, corporate culture, and ethics of a company, whereas the strategic vision deals with the realization of strategies and goals.
A mission statement deals with "where we are going," whereas a strategic vision provides the critical answer to "who we are, what we do, and why we are here."
A vision statement is usually quite brief, whereas the mission statement offers large and descriptive explanations of "who we are, what we do, and why we are here."
A mission statement typically concerns a company's present business scope and purpose, whereas a strategic vision sets forth "where we are going."
Question 9
Nike's vision, "to bring innovation and inspiration to every athlete in the world,"
Multiple Choice
is a generic vision statement and could apply to several companies because it doesn't give the company a unique identity.
is not feasible because the described path and direction is not within the realm of what a company can pursue or accomplish.
states vague and incomplete goals, and nothing is said about how the company intends to prepare for the future.
is a short slogan to illuminate the organization's direction and purpose.
is neither geographically apt, nor memorable.
Question 10
The process of crafting and executing a company's strategy primarily consists of all of the following except
Multiple Choice
monitoring developments, evaluating performance, and initiating corrective adjustments in the company's vision, mission, objectives, and strategy.
choosing employees who can support the strategy execution and strive for change.
executing the chosen strategy efficiently and effectively.
developing a strategic vision of the company's long-term direction, a mission that describes the company's purpose, and a set of values to guide the pursuit of the vision and mission.
setting objectives to convert the strategic vision into specific strategic and financial performance outcomes for the company to achieve.
The two tests a winning strategy must pass are the ________ test and the ________ test.
Multiple Choice
fit; profitability
performance; cost-advantage
competitive advantage; profitability
fit; performance
Question 2
A company's business model does not
Multiple Choice
constitute management's blueprint for delivering a valuable product or service to customers in a manner that will generate revenues sufficient to cover costs and yield an attractive profit.
reflect management's storyline for how the strategy will be a moneymaker.
consist of two crucial elements: (1) its customer value proposition and (2) its profit formula.
set forth the logic for how its strategy will create value for customers, while at the same time generates revenues sufficient to cover costs and realize a profit.
reflect how efficiently a company can meet customer wants and needs even at the cost of incurring loss.
Question 3
As the owner of a local housecleaning business that is trying to achieve a sustainable competitive advantage, you most likely would not
Multiple Choice
persist in competing differently, despite the best efforts of competitors to match or surpass this advantage.
have some distinctive strategic element that draws in customers and produces a competitive edge.
utilize copycat product offerings or similar maneuvers as rivals to stake out the same market position.
give buyers lasting reasons that competitors are unable to nullify or overcome despite their best efforts.
have better prospects to win in the marketplace and to earn superior long-term profits relative to rivals.
Question 4
What is not associated with the triple bottom line?
Multiple Choice
The triple bottom line refers to three types of performance metrics: economic, social, environmental.
The three dimensions of performance are often referred to in terms of the "three pillars" of people, planet, and profit.
The term people refers to various social initiatives such as charitable contributions, serving endeavors, and engaging in broader philanthropic initiatives.
The term planet refers to the company's overriding legal obligation to incorporate protection of the environment into its mission.
The term profit not only encompasses the profit earned for its shareholders but also the economic impact that the company has on society.
Question 5
The basic tenet of the school of ethical relativism states that
Multiple Choice
the standards of what constitutes ethical and unethical behavior in business situations are partly universal, but are mainly governed by local business norms.
many basic moral standards travel well across cultures and countries and really do not vary significantly according to local beliefs, mores, convictions, or circumstances.
individuals and businesses have a basic right to "moral free space," and it is inappropriate to specify permissible and impermissible actions and behaviors.
what constitutes ethical or unethical behavior on the part of local businesspeople is properly governed by local ethical standards rather than the standards that prevail in other locations.
Question 6
Business ethics can be defined as
Multiple Choice
special standards that are only applicable in business situations.
principles that are popular in conducting business, but not when crafting and executing a strategy.
the application of general ethical principles and standards to the various stakeholders of businesses.
rules that each company makes about "what is right" and "what is wrong" for top management and the board of directors.
the application of ethical principles and standards to the actions and decisions of business organizations and the conduct of their personnel.
Question 7
The key characteristics of a well-stated organizational objective are not represented by
Multiple Choice
Jet Blue's plan to grow 150 flights a day to 200 over the coming years.
lululemon's planned expansion of the brand globally through international market penetration, by opening 11 new stores in Asia and Europe, which include the first stores in China, South Korea, and Switzerland.
General Mills' plan to build a more agile organization by streamlining support functions, allowing for more fluid use of resources and idea sharing around the world; enhancing e-commerce know-how to capture more growth in this emerging channel.
Yahoo!'s extreme stretch goals to return that company to profitability and raise its stock price.
Question 8
How would you best characterize the definitive difference between a vision and a mission?
Multiple Choice
A mission statement addresses "how we are trying to make a profit today," while a strategic vision concerns "how will we make money in the markets of tomorrow."
A mission statement deals with the values, corporate culture, and ethics of a company, whereas the strategic vision deals with the realization of strategies and goals.
A mission statement deals with "where we are going," whereas a strategic vision provides the critical answer to "who we are, what we do, and why we are here."
A vision statement is usually quite brief, whereas the mission statement offers large and descriptive explanations of "who we are, what we do, and why we are here."
A mission statement typically concerns a company's present business scope and purpose, whereas a strategic vision sets forth "where we are going."
Question 9
Nike's vision, "to bring innovation and inspiration to every athlete in the world,"
Multiple Choice
is a generic vision statement and could apply to several companies because it doesn't give the company a unique identity.
is not feasible because the described path and direction is not within the realm of what a company can pursue or accomplish.
states vague and incomplete goals, and nothing is said about how the company intends to prepare for the future.
is a short slogan to illuminate the organization's direction and purpose.
is neither geographically apt, nor memorable.
Question 10
The process of crafting and executing a company's strategy primarily consists of all of the following except
Multiple Choice
monitoring developments, evaluating performance, and initiating corrective adjustments in the company's vision, mission, objectives, and strategy.
choosing employees who can support the strategy execution and strive for change.
executing the chosen strategy efficiently and effectively.
developing a strategic vision of the company's long-term direction, a mission that describes the company's purpose, and a set of values to guide the pursuit of the vision and mission.
setting objectives to convert the strategic vision into specific strategic and financial performance outcomes for the company to achieve.
No comments:
Post a Comment