Register to read the introduction…
the ongoing need of company managers to react and respond to changing market and competitive conditions.
E. the frequent need to modify key elements of the company's business model.
24. It is normal for a company's strategy to end up being
A. a blend of offensive actions on the part of managers to improve the company's profitability and defensive moves to counteract changing market conditions.
B. a combination of conservative moves to protect the company's market share and somewhat more risky initiatives to set the company's product offering apart from rivals.
C. a close imitation of the strategy employed by the recognized industry leader.
D. a blend of proactive actions to improve the company's competitiveness and financial performance and adaptive reactions to unanticipated developments and fresh market conditions.
E. more a product of clever entrepreneurship than of efforts to clearly set a company's product/service offering apart from the offerings of rivals.
25. Crafting a strategy involves
A. trying to imitate as much of the market leader's strategy as possible so as not to end up at a competitive disadvantage.
B. developing a 5-year strategic plan and then fine-tuning it during the remainder of the plan period; big changes in strategy are thus made only once every 5 …show more content…
Topic: Strategy Dynamics
52. (p. 10) Is it more accurate to think of strategy as being "proactive" or as being "reactive?" Why?
Answer will vary
AACSB: Reflective Thinking
Bloom's: Apply
Difficulty: Medium
Learning Objective: 01-03 Understand that a company's strategy tends to evolve over time because of changing circumstances and ongoing management efforts to improve the company's strategy.
Topic: Strategy Dynamics
53. (p. 9-10) Explain why a company's strategy cannot be completely planned out in advance and why crafting a company's strategy cannot be a one-time, once-and-for-all managerial exercise. Identify at least 3 factors that account for why company strategies evolve.
Answer will vary
AACSB: Analytic
Bloom's: Understand
Difficulty: Medium
Learning Objective: 01-03 Understand that a company's strategy tends to evolve over time because of changing circumstances and ongoing management efforts to improve the company's strategy.
Topic: Strategy Dynamics
54. (p. 11-12) Explain the difference between a company's business model and a company's strategy.
Answer will
E. the frequent need to modify key elements of the company's business model.
24. It is normal for a company's strategy to end up being
A. a blend of offensive actions on the part of managers to improve the company's profitability and defensive moves to counteract changing market conditions.
B. a combination of conservative moves to protect the company's market share and somewhat more risky initiatives to set the company's product offering apart from rivals.
C. a close imitation of the strategy employed by the recognized industry leader.
D. a blend of proactive actions to improve the company's competitiveness and financial performance and adaptive reactions to unanticipated developments and fresh market conditions.
E. more a product of clever entrepreneurship than of efforts to clearly set a company's product/service offering apart from the offerings of rivals.
25. Crafting a strategy involves
A. trying to imitate as much of the market leader's strategy as possible so as not to end up at a competitive disadvantage.
B. developing a 5-year strategic plan and then fine-tuning it during the remainder of the plan period; big changes in strategy are thus made only once every 5 …show more content…
Topic: Strategy Dynamics
52. (p. 10) Is it more accurate to think of strategy as being "proactive" or as being "reactive?" Why?
Answer will vary
AACSB: Reflective Thinking
Bloom's: Apply
Difficulty: Medium
Learning Objective: 01-03 Understand that a company's strategy tends to evolve over time because of changing circumstances and ongoing management efforts to improve the company's strategy.
Topic: Strategy Dynamics
53. (p. 9-10) Explain why a company's strategy cannot be completely planned out in advance and why crafting a company's strategy cannot be a one-time, once-and-for-all managerial exercise. Identify at least 3 factors that account for why company strategies evolve.
Answer will vary
AACSB: Analytic
Bloom's: Understand
Difficulty: Medium
Learning Objective: 01-03 Understand that a company's strategy tends to evolve over time because of changing circumstances and ongoing management efforts to improve the company's strategy.
Topic: Strategy Dynamics
54. (p. 11-12) Explain the difference between a company's business model and a company's strategy.
Answer will