Crafting & Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases 23th edition
B) is management's blueprint for how it will generate revenues sufficient to cover costs and yield an attractive profit.
C) concerns what combination of moves in the marketplace it plans to make to outcompete 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 management plans to pursue strategic objectives, given the larger imperative of meeting or beating its financial performance targets.
48) The consumer goods companies listed below all pursue the same business model with the exception of
A) Dell laptops.
B) Gillette razors.
C) Epson printers.
D) Keurig espresso coffee machines.
E) Nintendo Wii.
49) Why is it important to craft a business model?
A) because it sets forth management's game plan for maximizing profits for shareholders
B) because it details exactly how management's strategy will result in the achievement of the company's strategic intent
C) because it is a part of an operating model that focuses on delivering excellence and creating value for external shareholders and internal labor force
D) because it sets forth the key components of the enterprise's business approach, indicates how revenues will be generated, and makes a case for why the strategy can deliver value to customers in a profitable manner
E) because it sets forth management's long-term action plan to match the business standards set by formidable rivals
50) Square attained a solid foothold in small retail and service businesses in the United States, such as hair salons, massage therapists, and food trucks. Currently, Square gets a large percentage of its revenue (greater than 20 percent) from the restaurant business.“Square for restaurants” allows restaurant owners to manage their entire Point of Sale (POS) system, including credit card and mobile wallet payments, menu updates, floor layouts, employee scheduling, tip splitting, payroll processing, and employee performance tracking using a single platform, as well as tools such as customer relationship management, inventory management, and employee management. Square’s blueprint for how and why the company's business approaches will generate revenues sufficient to cover costs and produce attractive profits and returns on investment
A) is what is meant by the term strategic intent.
B) portrays the essence of a company's business purpose or mission.
C) accounts for why a company's financial objectives are at the stated level.
D) best describes what is meant by a company's strategy.
E) best describes what is meant by a company's business model.
51) The difference between a company's strategy and a company's business model is that
A) a company's strategy is management's game plan for achieving strategic objectives while its business model is management's game plan for achieving financial objectives.
B) the strategy concerns how to compete successfully and the business model concerns how to operate efficiently.