strategy is ______.

Which statement about strategies is true?

56. Which of following statements is/are true concerning strategy?A.Once a firm has chosen a strategy, it is unwise to change it, even though the company orbusiness environment might change.B.If a firm does decide to compete on more than one strategy, it must carefully execute bothstrategies to be successful.C.Since the business environment is always changing, rather than stick constantly with onestrategy, firms should pay close attention duringtimes of change, and adjust their strategies accordingly.D.Commodity type products are usually produced by differentiated firms.AACSB: Analytic

Blocher - Chapter 01 #56Difficulty: EasyEmerging Issues: StrategyLearning Objective: 1-1Learning Objective: 2Learning Objective: 457. A strategy can be best defined as:

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AACSB: AnalyticBlocher - Chapter 01 #57Difficulty: Medium

Asked by JudgeCapybaraMaster538 on coursehero.com

1. The goal of business-level strategy is to build a sustainable competitive advantage?

Select one:

True

False

2. A competitive advantage is:

Select one:

When customers are willing to pay more for a firm's product or services than it costs the firm to deliver that profit or service

When a firm is able to conduct business in the global marketplace.

When customers are unaware of what it costs to produce a firm's products or services.

When a firm holds a monopoly in the marketplace.

3. All of the following are regarded as generic competitive strategies EXCEPT:

Select one:

Cost leadership

Focussed cost leadership

Diversification

Differentiation

4. A generic competitive strategy seeks to:

Select one:

Support a firm replicate the strategy of its rivals by following a cost leadership, differentiation or market focus strategy.

Support a firm imitate the strategy of its rivals by following a cost leadership, differentiation or market focus.

Support a firm position itself differently from its rivals by achieving cost leadership, differentiation or market focus.

All of the above.

5. Organisations can achieve a cost leadership by:

Select one:

Being the cheapest.

Being the lowest cost producer.

Being the premium price leader

None of the above.

6. An organisation pursuing a differentiation strategy would tend to:

Select one:

Compete on uniqueness and quality of product or service normally through premium pricing.

Compete on cost reduction.

Compete on product offering through diversification.

Compete on quality by imitating a rivals existing products or services.

7. When implementing a focussed strategy, the firm aims to:

Select one:

Penetrate the global marketplace.

Target the needs of a specific market segment.

Penetrate the mass market.

Target the needs of customers in multiple market segments.

8. Stuck-in-the-middle occurs when:

Select one:

The organisation has become the cost leader but is stuck in a position that prevents it from increasing its product or service's price.

The customers of the organisation are only willing to pay a mid-range price for a product.

The organisation fails to optimally perform a cost leadership or differentiation strategy.

All of the above

9. Bowman's strategy clock seeks to provide:

Select one:

A static interpretation of competitive strategy that considers the role of cost reduction and perceived product/service benefits.

A framework that provides the organisation with assistance on the timing of strategy implementation.

A framework that provides support on how to strategically change the direction of the business.

A dynamic interpretation of competitive strategy that considers the role of price and perceived product/service benefits.

10. A hybrid strategy seeks:

Select one:

To compete on premium pricing to niche markets.

To compete on low pricing to niche markets.

To compete on premium pricing and to global markets.

To compete on low pricing and uniqueness.

Answered by faheemaahmed on coursehero.com

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Which of the following statements about strategy is true?

The correct answer is [b.] Strategy at its essence is about competing differently doing what rival firms do or cannot do. A company's strategy focuses on how competing firms act in the market.

What best describes a strategy?

Strategy generally involves setting goals and priorities, determining actions to achieve the goals, and mobilizing resources to execute the actions. A strategy describes how the ends [goals] will be achieved by the means [resources].

Which of the following statements about a companies realized strategy is true?

Answer and Explanation: The correct answer is c. A company's realized strategy is typically a blend of deliberate and planned initiatives, and emergent and unplanned reactive strategy elements.

What are the 3 basic strategies?

According to Porter's Generic Strategies model, there are three basic strategic options available to organizations for gaining competitive advantage. These are: Cost Leadership, Differentiation and Focus.

Step-by-step explanation

Which of the following statements about strategy is true?

What best describes a strategy?

Which of the following statements about a companies realized strategy is true?

What are the 3 basic strategies?

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