10:22 5/7/24 Practice quiz for exam 1: Attempt review

Dashboard / Courses / Viện ĐTTT - CLC - POHE / Năm học 2023-2024 / HK Hè 2023-2024
/ Business Strategy and Policy - (322) / Homeworks / Practice quiz for exam 1

Started on Friday, 5 July 2024, 7:23 AM

State Finished
Completed on Friday, 5 July 2024, 7:33 AM
Time taken 10 mins 36 secs
Grade 7.00 out of 10.00 (70%)

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10:22 5/7/24 Practice quiz for exam 1: Attempt review

Question 1
Adapting to new conditions like new innovations by competitors, fast-changing technological developments, and
Correct constantly evaluating what is working result in
Mark 1.00 out of
1.00 Select one:
a. an emergent  A portion of a company's strategy is always developed on the fly, coming as a
strategy. response to fresh strategic maneuvers on the part of rival firms, unexpected shifts
in customer requirements, fast-changing technological developments, newly
appearing market opportunities, a changing political or economic climate, or other
unanticipated happenings in the surrounding environment. These adaptive strategy
adjustments make up the firm's emergent strategy.

b. a proactive strategy.
c. a broad market entry strategy.
d. unlimited revenue generation.
e. an assured profitability strategy.

The correct answer is: an emergent strategy.

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Question 2
A healthy fast-casual restaurant that offers only vegetarian and vegan meals insists on portraying organic
Incorrect ingredients in its advertisements, charges a higher price for its meals, and has a rigorous quality control process to
Mark 0.00 out of insure the cleanliness of its facilities. What strategy is the manufacturer using to deliver superior value to
1.00 customers?

Select one:
a. incorporating  Superior value could be delivered by signaling the value of the company's product
tangible offering to buyers. Typical signals of value include a high price (in instances where
features high price implies high quality and performance), more appealing or fancier packaging
than competing products, ad content that emphasizes a product's standout attributes,
the quality of brochures and sales presentations, and the luxuriousness and ambience
of a seller's facilities (important for high-end retailers and for offices or other facilities
frequented by customers).

b. signaling value by targeting sophisticated buyers

c. lowering the buyer's overall cost
d. leveraging its power over suppliers
e. incorporating intangible features

The correct answer is: signaling value by targeting sophisticated buyers

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10:22 5/7/24 Practice quiz for exam 1: Attempt review

Question 3
A company's values or core values concern
Correct

Mark 1.00 out of Select one:

1.00
a. whether and to what extent it intends to operate in an ethical and socially responsible manner.
b. the beliefs, principles, and ethical standards that are incorporated into the company's strategic intent and
business model.
c. the beliefs and operating principles built into the company's balanced scorecard for measuring
performance.
d. the beliefs, traits, and behavioral  By values (or core values, as they are often called), we mean
norms that company personnel certain designated beliefs, traits, and behavioral norms that
are expected to display in management has determined should guide the pursuit of its
conducting the company's vision and mission.
business and pursuing its
strategic vision and mission.
e. how aggressively it will seek to maximize profits and enforce high ethical standards.

The correct answer is: the beliefs, traits, and behavioral norms that company personnel are expected to display in
conducting the company's business and pursuing its strategic vision and mission.

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10:22 5/7/24 Practice quiz for exam 1: Attempt review

Question 4
Driving-forces analysis typically does not include
Correct

Mark 1.00 out of Select one:

1.00
a. determining whether forces are acting to cause fundamental changes in industry conditions and/or the
industry's competitiveness.
b. determining Some drivers of change are unique and specific to a particular industry situation, but
whether most drivers of industry and competitive change fall into one of the following
forces are categories: changes in an industry's long-term growth rate; increasing globalization;
acting to emerging new Internet capabilities and applications; shifts in buyer demographics;
cause technological change and manufacturing process innovation; product innovation; entry
industry or exit of major firms; diffusion of technical know-how across companies and countries;
rivals to changes in cost and efficiency; reductions in uncertainty and business risk; regulatory
shift to a influences and government policy changes; and/or changing societal concerns,
different attitudes, and lifestyles.
strategic
group.
c. determining whether forces are acting to strengthen or weaken market demand.
d. determining whether forces are acting to make competition more or less intense.
e. determining whether forces are acting to raise or lower industry profitability.

The correct answer is: determining whether forces are acting to cause industry rivals to shift to a different strategic
group.

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10:22 5/7/24 Practice quiz for exam 1: Attempt review

Question 5
Tangible resources do not include
Incorrect

Mark 0.00 out of Select one:

1.00
a. technological assets.
b. organizational resources.  Tangible resources do not include human assets,
because their knowledge and experience can be said
to be intangible.

c. physical resources.
d. human assets.
e. financial resources.

The correct answer is: human assets.

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10:22 5/7/24 Practice quiz for exam 1: Attempt review

Question 6
As a manager at the French discount retailer Carrefour, you could derive a competitive advantage from
Correct

Mark 1.00 out of Select one:

1.00
a. building organizational expertise in  The road to competitive advantage begins with management
performing Carrefour's competitively efforts to build organizational expertise in performing certain
important value chain activities. competitively important value chain activities.

b. understanding how Carrefour's value chain activities provide opportunity for growth.
c. increasing Carrefour's superiority over rivals by executing even unimportant tasks and activities extremely
well.
d. sustaining Carrefour's current chain of activities to lower costs.
e. building value-creating activities all along Carrefour's value chain.

The correct answer is: building organizational expertise in performing Carrefour's competitively important value
chain activities.

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10:22 5/7/24 Practice quiz for exam 1: Attempt review

Question 7
Management's strategic vision for an organization
Correct

Mark 1.00 out of Select one:

1.00
a. spells out the organization's strategic intent and the actions and moves that will be undertaken to achieve
it.
b. describes in fairly specific terms the organization's strategic objectives, and strategy.
c. spells out how the company will become a big moneymaker and boost shareholder value.
d. charts a  The real purpose of a vision statement is to serve as a management tool for giving
strategic the organization a sense of direction. A strategic vision delineates management's
course for the aspirations for the business, providing a panoramic view of "where we are going" and
organization a convincing rationale for why this makes good business sense for the company. A
("where we strategic vision thus points an organization in a particular direction, charts a strategic
are going") path for it to follow, builds commitment to the future course of action, and molds
and provides a organizational identity.
rationale for
why this
directional
path makes
good sense.
e. addresses the critical issue of "why our business model needs to change and how we plan to change it."

The correct answer is: charts a strategic course for the organization ("where we are going") and provides a
rationale for why this directional path makes good sense.

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10:22 5/7/24 Practice quiz for exam 1: Attempt review

Question 8
Based on an analysis of the five competitive forces, in which of the following industries is profitability likely to be
Correct lowest?
Mark 1.00 out of
1.00 Select one:
a. wearable fitness and health monitors
b. delivery services using drones
c. wireless lighting systems
d. pizza  As a rule, the strongest competitive forces determine the extent of the competitive
restaurants pressure on industry profitability. All other things being equal and as a rule, the
stronger the collective impact of the five competitive forces, the lower the combined
profitability of industry participants—and this is particularly true of the saturated,
mature pizza restaurant industry in comparison with the others listed, each of which
have mitigated the power of some competitive forces to achieve above-average
returns.

e. pharmaceuticals

The correct answer is: pizza restaurants

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10:22 5/7/24 Practice quiz for exam 1: Attempt review

Question 9
It is normal for a company's strategy to end up being
Correct

Mark 1.00 out of Select one:

1.00
a. 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.
b. more a product of clever entrepreneurship than of efforts to clearly set a company's product/service
offering apart from the offerings of rivals.
c. a blend of offensive actions on the part of managers to improve the company's profitability and defensive
moves to counteract changing market conditions.
d. a blend of proactive actions  A company's realized strategy comprises planned initiatives to
to improve the company's improve the company's financial performance and secure a
competitiveness and financial competitive edge in combination with initiatives to deal with
performance, and adaptive unanticipated developments and fresh market conditions.
reactions to unanticipated
developments and fresh
market conditions.
e. a close imitation of the strategy employed by the recognized industry leader.

The correct answer is: a blend of proactive actions to improve the company's competitiveness and financial
performance, and adaptive reactions to unanticipated developments and fresh market conditions.

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10:22 5/7/24 Practice quiz for exam 1: Attempt review

Question 10
A fast-food restaurant stocks bread, meat, sauces, and other main ingredients, but does not assemble and cook its
Incorrect burgers and sandwiches until a customer places an order. Which cost driver is the restaurant efficiently using to
Mark 0.00 out of cut costs?
1.00

Select one:
a. bargaining power
b. incentive systems and culture
c. economies of scale
d. capacity utilization  The fast-food restaurant is using just-in-time inventory
method to reduce supply chain inefficiency; the products are
made-to-order thereby reducing the waste.

e. supply chain efficiencies

The correct answer is: supply chain efficiencies

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