Crafting & Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases 23th edition

51) D

 

At the core of every sound strategy is the company's business model. A business model is how a company plans to realize its strategies and usually revolves around the Value-Price-Cost Framework.

52) D

 

A good customer value proposition convinces a customer about the uniqueness of a product. An increase in the customer's familiarity and approval would result in increased sales and market share.

53) B

 

From a customer perspective, the greater the value delivered and the lower the price, the more attractive is the company's value proposition.

54) D

 

The targeted customer base for Waltham Furniture would benefit from a company's proposition that provides high-quality products at a lower price. The benefit of cost savings on assembling final products is passed on to the customer through low prices, a part of which would also contribute to the company's profit.

55) B

 

Fast 'n Fresh Pizza provides the best value proposition as it does not prompt the customer to invest more and promises a tight turnaround time on deliveries. Johnny's Pie Shop and Sustainable Slices do not offer a distinctive value over other firms. Loyalty Pizza offers little in return on a relatively heavy repeat purchase investment by its customers. Crackerjack Pizza has a clever pitch but customer benefit is speculative.

56) B

 

Establishing a comparison tab could severely affect the sales of Teladoc Health as it offers similar services with similar features as displayed on other telemedicine sites.

57) B

 

Product companies are charged heavily for the ad space on the web pages users visit. This would serve as the company's profit formula. Other offerings comprise a powerful value proposition for customers.

58) C

 

A winning strategy is the one that is built on objectives that are specific and achievable, is well matched to industry and competitive conditions, achieves a durable competitive advantage over rivals, and sustains strong company performance.

59) B

 

A strategy that passes the three tests, the fit test, the competitive advantage test, and the performance test is usually regarded as a winning strategy. These tests measure a strategy's fit to a company's situation, its ability to bestow competitive advantage, and good performance.

60) E

 

To qualify as a winner, a strategy has to be well matched to industry and competitive conditions, a company's best market opportunities, and other pertinent aspects of the business environment in which the company operates.

61) A

 

A strategy is distinguished as a winning strategy based on whether it fits a company's situation, allows a company to produce superior performance for more than a brief period of time, and helps achieve a durable competitive advantage over rivals.

62) C

 

High-achieving enterprises like Primaplast are nearly always the product of astute, creative, and proactive strategy making. A company's business model, its operational model, and realized results are factors associated with its strategy.

63) B

 

Crafting and executing business strategies are the first steps around which a company's growth and progress framework is placed. It is important that a crafted strategy be executed proficiently to realize successes of the strategy.

64) D

 

A good strategy and a good strategy execution are the most telling signs of good management. The rationale for using the twin standards of good strategy making and good strategy execution to determine whether a company is well managed is therefore compelling: The better conceived a company's strategy and the more competently it is executed, the more likely the company will be a standout performer in the marketplace.

65) C

 

A good strategy and a good strategy execution are the most telling signs of good management. The rationale for using the twin standards of good strategy making and good strategy execution to determine whether a company is well managed is therefore compelling: The better conceived a company's strategy and the more competently it is executed, the more likely the company will be a standout performer in the marketplace.

66) A

 

The formulation of a truly successful strategy requires managers to consider not only these primary factors involved in crafting a strategy but also an organization's ability to execute whatever strategy it chooses.