Strategic MGMT midterm

10 cards·by calliope

Which one of the following does not account for why a company's strategy evolves from one version to another?

A desire on the part of company managers to develop new strategy elements on the fly

A Company's business model

management's storyline for how it will generate revenues ample to cover costs and produce a profit,absent the ability to deliver good profi

The difference between a company's strategy and a company's business model is that

strategy relates broadly to a company's competitive moves and business approaches (which may or may not lead to profitability) while its bus

Which of the following statements about a company's strategy is true?

A company's strategy is typically a blend of proactive and reactive strategy elements.

Crafting and executing strategy are top-priority managerial tasks because Answer

good strategy coupled with good strategy execution greatly raises the chances that a company will be a standout performer in the marketplace

In crafting a strategy, management is in effect saying

"among all the many different business approaches and ways of competing we could have chosen, we have decided to employ this particular comb

One of the keys to successful strategy-making is

to come up with one or more strategy elements that act as a magnet to draw customers and yield a lasting competitive edge.

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

a blend of proactive actions to improve the company's competitiveness and financial performance and adaptive reactions to unanticipated deve

A winning strategy is one that

fits the company's internal and external situation, builds sustainable competitive advantage, and improves company performance.

In crafting a company's strategy,

managers need to come up with some distinctive "aha" element to the strategy that draws in customers and produces a competitive edge over ri