Crafting And Executing Strategy 20th Edition By Arthur Thompson – Test Bank


Edition: 20th Edition

Format: Downloadable ZIP File

Resource Type: Test bank

Duration: Unlimited downloads

Delivery: Instant Download

Crafting And Executing Strategy 20th Edition By Arthur Thompson – Test Bank

ISBN 978-0077720599, ISBN-10: 0077720598

Chapter 01 Test Bank

1. Which of the following is NOT one of the managerial considerations in determining how to compete successfully?

A. How can a company attract, keep, and please customers?


B. How can a company modify its entire product line to emphasize its internal service attributes?


C. How should a company respond to changing economic and market conditions?


D. How should a company be competitive against rivals?


E. How should a company position itself in the marketplace?


2. A pharmaceutical company functioning in France for the last 10 years has moderate sales in a crowded market with competitors offering drugs with similar efficacy and safety precautions, but with better sales. The greatest challenge is to increase the prescription of their drugs. What would be the MOST effective strategy to improve sales performance in the 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. A company’s strategy consists of the action plan management is taking to:

A. stake out a unique market position and achieve superior profitability.


B. compete against rivals and establish a transitory competitive advantage.


C. concentrate on improving the existing product offering irrespective of the changing and turbulent markets.


D. develop a more appealing business model than rivals.


E. identify its strategic vision, its strategic objectives, and its strategic intent.


4. The competitive moves and business approaches a company’s management is using to grow the business, stake out a market position, attract and please customers, compete successfully, conduct operations, and achieve organizational objectives is referred to as its:

A. strategy.


B. mission statement.


C. strategic intent.


D. cost-price framework.


E. market vision.


5. The objectives of a well-crafted strategy require management to strive to:

A. match rival businesses’ products and quality dimensions in the marketplace.


B. build profits for short-term success.


C. realign the market to provoke change in rival companies.


D. develop lasting success that can support growth and secure the company’s future over the long term.


E. re-create their business models regularly.


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