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10 Cards in this Set

  • Front
  • Back

Which of the following strategies does Twitter need to implement to increase its competitive advantage?




a. change no fee to individual users


b. increase its user base


c. deliver ads in real time


d. allow core users to stay always connected

b. increase its user base

_______ is best described as an integrative management field that combines analysis, formulation, and implementation in the quest for competitive advantage.




a. Supply chain


b. Integrated technology management


c. Strategic management


d. Inventory management

c. Strategic management

______ is best described as a set of goal-directed actions a firm takes to gain and sustain superior performance relative to competitors.




a. Behavior modification


b. Strategy


c. Credo


d. Competency management

b. Strategy

Which of the following stages of the strategic management process involves an evaluation of a firms's external and internal environments?




a. strategy analysis


b. strategy implementation


c. strategy formulation


d. strategy control

a. strategy analysis

In_______, a firm frames a guiding policy to address the competitive challenge.




a. strategy control


b. strategy implementation


c. strategy formulation


d. strategy analysis



c. strategy formulation

Through ________, a firm puts its guiding policy into practice by employing a set of coherent actions.




a. strategy control


b. strategy implementation


c. strategy formulation


d. strategy analysis

b. strategy implementation

A firm that achieves superiorperformance relative to other firms in the same industry or the industryaverage has a(n)




A. competitive advantage.


B. balanced scorecard.


C. power position.


D. equity leverage.

a. competitive advantage

Patterson Foods Inc. was the firstcompany to start selling energy bars in its country—a product that gainedpopularity among diverse groups. Soon, other companies started to sell theirown brands of energy bars, thereby giving Patterson Foods ample competition. Inresponse, Patterson Foods decided to limit its variety of energy bars to onlyfour. However, it ensured that these four varieties were low in calories andlow in cost. With this innovation, Patterson Foods Inc. consistentlyoutperformed its competitors for ten years. In this scenario, Patterson FoodsInc. maintained a _____ through its innovative strategy.


A. balanced scorecard


B. fiduciary responsibility


C. consistent power position


D. sustainable competitive advantage


d. sustainable competitive advantage

Which of the following scenariosillustrates a firm that has a sustainable competitive advantage?


A. Jamison Inc. generated revenue of $300,000 this financial year, which is close to the industrial revenue average of $320,000.


B. CR Inc. almost doubled its sales to 9,000 units this year compared to its previous year's sales of 5,000 units, though the industry average is 10,000 units.


C. Zhang Corp. was able to hold its market share of 68 percent in the social networking industry for more than three years.


D. Peak Inc. was able to outperform its competitors with its new production system, in terms of revenue, for a brief period of four months.

c. Zhang Corp. was able to hold its market share of 68 percent in the social networking industry for more than three years.

If SA Pharmaceuticals obtains an 18percent return on invested capital, which of the following will help determineif it has a competitive advantage over other pharmaceutical companies?




A. comparing the return to the return on invested capital obtained by other firms in the industry


B. assessing the value based on the shareholders' expectations of return on their capital


C. evaluating the liquidity ratios for other pharmaceutical companies


D. comparing the value to the history of the firm's return of investment over a number of years


a. comparing the return to the return on invested capital obtained by other firms in the industry