Strategic Management

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Strategic Management
2010-01-25 00:35:08

Chapter 1
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  1. A company's business model...?
    Is managements's blueprint for delivering a valuable product or service to customers in a manner that will generate ample revenues to cover costs and yield an attractive profit.
  2. The difference between a company's business model and a company's strategy is that?
  3. In endeavoring to craft an ethical strategy, company managers?
    Strategy must entail actions that can pass moral scrutiny in the sense of not being shady, unconscionable, or injurious to others.
  4. The heart and soul of a company's strategy-making effort?
    Is the actions and moves in the marketplace that managers are taking to improve the company's financial performance, strengthen its market position, and gain a competitive edge over rivals.
  5. A company's strategy concerns?
  6. In crafting a company's strategy?
    A managerial commitment to pursue a particular set of actions in growing the business, attracting and pleasing customers, competing successfully, operating various parts of the business, and improving the company's financial and market performance.
  7. The two crucial elements of a company's business model are?
    Its customer value propostion ( what customers think is a good price) and its profit propostion or "formula" for generating profits in the course of pursuing its customer value proposition.
  8. Excellent execution of an excellent strategy?
    Is the best test of managerial excellence..
  9. A company's strategy evolves from one version to the next because of?
  10. A winning strategy is one that?
    Winning strategy must fit the enterprise's external and internal situation, build sustainable competitve advantage, and improve company performance.
  11. A company's strategy can be considered "ethical"?
    If it can pass the test of moral scrutiny.
  12. What makes a competitive advantage sustainable or durable as opposed to temporary is?