Question QUESTION 1 1. Which one of the following is not a reliable measure of how well a company’s current strategy is working? Trends in the company’s sales and earnings growth. The company’s development of human capital, organizational capital, and information capital. Changes in the firm’s image and reputation with its customers. The company’s overall financial strength. Evidence of improvement in internal processes such as defect rate, order fulfillment, and employee productivity. 4 points QUESTION 2 1. Which of the following is not an option for improving supplier-related value chain activities? Integrate backward into the business of high-cost suppliers in an effort to reduce the costs of the items being purchased Negotiate more favorable prices with suppliers Collaborate closely with suppliers to identify mutual cost-saving opportunities Switch to lower priced substitute inputs Persuade forward channel allies to implement best practices 4 points QUESTION 3 1. A core competence makes a contribution to a company’s success in the marketplace. is typically knowledge-based, residing in a company’s intellectual capital and not in its tangible physical assets on the balance sheet. is often grounded in cross-department combinations of knowledge and expertise. is a competitively relevant activity that a firm performs especially well in comparison to the other activities it performs. All of these. 4 points QUESTION 4 1. A company’s resource weaknesses can relate to inferior or unproven skills, lack of expertise, or intellectual capital shortfalls in competitively important parts of the business. something that it lacks or does poorly (in comparison to rivals). deficiencies in competitively important physical, organizational, or intangible assets. missing or competitively inferior capabilities in key areas. All of these 4 points QUESTION 5 1. Doing a competitive strength assessment entails determining whether a company has a cost-effective value chain. ranking the company against major rivals on each of the important factors that determine market success and ascertaining whether the company has a net competitive advantage or disadvantage versus major rivals. identifying a company’s core competencies and distinctive competencies (if any). analyzing whether a company is well positioned to gain market share and be the industry’s profit leader. developing quantitative measures of a company’s chances for future profitability. 4 points QUESTION 6 1. One important indicator of how well a company’s present strategy is working is whether it has more core competencies than close rivals. its strategy is built around at least two of the industry’s key success factors. the company is achieving gains in financial strength. it has been able to create new industry demand through the use of a blue ocean strategy. it is subject to weaker competitive forces and pressures than close rivals (a good sign). 4 points QUESTION 7 1. Which of the following is not accurate as concerns the task of identifying the strategic issues and problems that merit front-burner managerial attention? It entails drawing upon the results and conclusions from analyzing the company’s external environment. It entails drawing on the results and conclusions from evaluating the company’s own resources and competitive position. It entails developing a “worry list” of problems and issues for managerial strategy making. Identifying the strategic issues and problems that the company faces is the first thing that company managers need to do before starting to analyze the company’s internal and external environment. Developing a list of what issues and problems that managements needs to address (and to resolve) should always precede deciding upon a strategy and what actions to take to improve the company’s position and prospects. 4 points QUESTION 8 1. The primary activities included in the value chain include supply chain man
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