Crafting and Executing Strategy 24th Edition Thompson Test Bank
Test Bank for Crafting and Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases: 2024 Release 24th Edition By Arthur Thompson, Margaret Peteraf, John Gamble, A. Strickland, ISBN10: 1265807361, ISBN13: 9781265807368
Table of Contents
PART 1: CONCEPTS AND TECHNIQUES FOR CRAFTING AND EXECUTING STRATEGY
1 What Is Strategy and Why Is It Important?
2 Charting a Company’s Direction
3 Evaluating a Company’s External Environment
4 Evaluating a Company’s Resources, Capabilities, and Competitiveness
5 The Five Generic Competitive Strategies
6 Strengthening a Company’s Competitive Position
7 Strategies for Competing in International Markets
8 Corporate Strategy
9 Ethics, Corporate Social Responsibility, Environmental Sustainability, and Strategy10 Building an Organization Capable of Good Strategy Execution
11 Managing Internal Operations
12 Corporate Culture and Leadership
MULTIPLE CHOICE – Choose the one alternative that best completes the statement or answers the question.
1) Managers of all types of business organizations must develop a clear answer for which of the following questions?
A) What approaches do we need to take in order to gain a competitive advantage in the marketplace?
B) What is the set of actions that we need to take to outperform competitors and achieve superior profitability?
C) Where are we now?
D) Where do we go from here?
E) When will we know that we are there?
2) Sanofi, a pharmaceutical company selling prescription drugs in France for the past 10 years, has had moderate sales in a crowded market while its rivals manufacture and market drugs having similar efficacy and safety precautions, but with superior market share. This particular pharmaceutical company’s greatest challenge is to increase prescriptions of their drugs by French doctors. What would be the most effective strategy for Sanofi to improve sales performance in its existing market?
A) modifying marketing communication to increase brand familiarity within key physician segments
B) relocating all the existing drug manufacturing facilities to developing countries to reduce operational costs
C) employing hiring plans that aim at acquiring drug designers from rival companies
D) exiting the market and entering a new unexplored geographical location
E) engaging in new contract talks with suppliers about price breaks
3) You have been hired as a consultant by Sand Cloud, a venture-backed established company in the beachwear and toweling markets. Sand Cloud’s owners are weighing a decision to donate a part of its profits to a children’s charity to improve its market image. Your advice to Sand Cloud regarding strategy is that it will consist of the action plan management takes to
A) develop a more appealing business model than rival beachwear and toweling companies.
B) compete against rivals in the beachwear and toweling industry and establish a transitory competitive advantage.
C) concentrate on improving its existing product offering irrespective of its decision to donate a percentage of its profits to a children’s charity.
D) stake out a unique market position in beachwear and toweling markets and achieve superior profitability.
E) identify its strategic vision, its strategic objectives, and its strategic intent.
