Crafting and Executing Strategies
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Question Pool: Strategic Management, 12e (Thompson) Chapter 01 1. A company's strategy concerns a. | | its market focus. | b. | | how it plans to make money. | c. | | the game plan management is using to stake out a market position, conduct operations, attract and please customers, compete successfully, and achieve organizational objectives. | d. | | the long-term direction that management has chosen to pursue. | e. | | whether it is employing an aggressive offense to gain market share or a conservative defense to protect its market position. | 2. 3. The game plan a company's management is using to stake out a market position, conduct operations, attract and please customers, compete successfully, and achieve organizational objectives is referred to as its a. | | strategy. | b. | | business model. | c. | | strategic vision. | d. | | long-term business mission. | e. | | strategic objective. | 4. 5. A company's business model a. | | concerns the game plan a company's management is using to stake out a market position, conduct operations, attract and please customers, compete successfully, and achieve organizational objectives. | b. | | deals with the revenue-cost-profit economics of its strategy¾management's plan for making money in a particular line of business. | c. | | concerns what combination of competitive moves it plans to make to outmaneuver its rivals. | d. | | deals with how it can simultaneously maximize profits and operate in a socially responsible manner that keeps its prices as low as possible. | e. | | concerns how to balance strategic objectives against financial objectives. | 6. 7. A company's business model a. | | concerns whether management's strategy will permit the achievement of the company's strategic objectives. | b. | | deals with the
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Question Pool: Strategic Management, 12e (Thompson) Chapter 01 1. A company's strategy concerns a. | | its market focus. | b. | | how it plans to make money. | c. | | the game plan management is using to stake out a market position, conduct operations, attract and please customers, compete successfully, and achieve organizational objectives. | d. | | the long-term direction that management has chosen to pursue. | e. | | whether it is employing an aggressive offense to gain market share or a conservative defense to protect its market position. | 2. 3. The game plan a company's management is using to stake out a market position, conduct operations, attract and please customers, compete successfully, and achieve organizational objectives is referred to as its a. | | strategy. | b. | | business model. | c. | | strategic vision. | d. | | long-term business mission. | e. | | strategic objective. | 4. 5. A company's business model a. | | concerns the game plan a company's management is using to stake out a market position, conduct operations, attract and please customers, compete successfully, and achieve organizational objectives. | b. | | deals with the revenue-cost-profit economics of its strategy¾management's plan for making money in a particular line of business. | c. | | concerns what combination of competitive moves it plans to make to outmaneuver its rivals. | d. | | deals with how it can simultaneously maximize profits and operate in a socially responsible manner that keeps its prices as low as possible. | e. | | concerns how to balance strategic objectives against financial objectives. | 6. 7. A company's business model a. | | concerns whether management's strategy will permit the achievement of the company's strategic objectives. | b. | | deals with the