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

 

15)  A creative, distinctive strategy that delivers a sustainable competitive advantage is important because

 

      
       A)   without a competitive advantage a company cannot become the industry leader.  
       B)   without a competitive advantage a company is likely to fall into bankruptcy.
       C)   crafting a strategy that yields a competitive advantage over rivals is a company's most reliable means of achieving above-average profitability and financial performance.
       D)   a competitive advantage is what enables a company to achieve its strategic objectives.
       E)   how a company goes about trying to please customers and outcompete rivals is what enables senior managers to choose an appropriate strategic vision for the company.
      

 

16)  A company achieves a competitive advantage when it

 

      
       A)   provides buyers with superior value compared to rival sellers or offers the same value at a lower cost.     
       B)   has a profitable business model.
       C)   is able to maximize shareholder wealth.
       D)   is consistently able to achieve both its strategic and financial objectives.
       E)   has a strategy well-matched to its business model.
      

 

17)  A creative and distinctive strategy that sets a company apart from rivals and that gives it a sustainable competitive advantage

 

      
       A)   is a reliable indicator that the company has a socially responsible business model.  
       B)   is achievable in emerging but not mature industries.
       C)   is a company's most reliable ticket to above-average profitability.
       D)   signals that the company has a bold, ambitious strategic intent that places the achievement of strategic objectives ahead of the achievement of financial objectives.
       E)   is the best indicator that the company's strategy and business model are well-matched and properly synchronized.
      

 

18)  What separates a powerful strategy from a run-of-the-mill or ineffective one?

 

      
       A)   the ability of the strategy to keep the company profitable  
       B)   the proven ability of the strategy to generate maximum profits
       C)   the speed with which it helps the company achieve its strategic vision
       D)   management's ability to forge a series of actions, both in the marketplace and internally, that sets the company apart from rivals and produces sustainable competitive advantage
       E)   whether it allows the company to maximize shareholder value in the shortest possible time
      

 

19)  Volta Motors, a manufacturer of self-driving delivery trucks, is working on developing its next-generation electric vehicles. It has decided on a strategy of focusing on a narrow buyer segment and outcompeting rivals by offering buyers customized autonomous, self-driving electric vehicles at a lower cost than rivals. What basic strategic approach has Volta Motors decided upon?

 

      
       A)   focused differentiation 
       B)   best-cost provider
       C)   low-cost provider