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Questions and Answers
According to the passage, what is the key challenge when specifying business arenas?
According to the passage, what is the key challenge when specifying business arenas?
- To target products and markets by name
- To focus on a wide array of products and markets
- To be as specific as possible (correct)
- To be as generic as possible
Which of the following is NOT mentioned as an example of a specific business arena in the passage?
Which of the following is NOT mentioned as an example of a specific business arena in the passage?
- Businesses with a wider array of products
- Coun- tries with per-capita GDP under $5,000 (correct)
- Countries with per-capita GDP over $5,000
- Women's high-end fashion accessories
According to the passage, which of the following is a key element of strategy that companies must consider?
According to the passage, which of the following is a key element of strategy that companies must consider?
- The speed and sequence of their moves
- The vehicles they will use to obtain returns
- The differentiators they will use to win
- All of the above (correct)
Which of the following is NOT mentioned as a potential 'differentiator' that companies can use to win according to the passage?
Which of the following is NOT mentioned as a potential 'differentiator' that companies can use to win according to the passage?
According to the passage, which of the following 'vehicles' could companies use to obtain returns?
According to the passage, which of the following 'vehicles' could companies use to obtain returns?
Which of the following is NOT mentioned in the passage as a key element of strategy that companies must consider?
Which of the following is NOT mentioned in the passage as a key element of strategy that companies must consider?
What is the most fundamental choice that strategists make, according to the article?
What is the most fundamental choice that strategists make, according to the article?
What is the importance of being specific when articulating a business's arenas?
What is the importance of being specific when articulating a business's arenas?
What is the difference between articulating a business's arenas and defining its vision or objectives?
What is the difference between articulating a business's arenas and defining its vision or objectives?
What is the key aspect of the biotechnology company's arenas, as described in the article?
What is the key aspect of the biotechnology company's arenas, as described in the article?
What is the relationship between a business's arenas and its value-adding stages, according to the article?
What is the relationship between a business's arenas and its value-adding stages, according to the article?
What is the role of geographic scope in a business's strategy, according to the article?
What is the role of geographic scope in a business's strategy, according to the article?
What is one of the key strategic choices a business needs to make?
What is one of the key strategic choices a business needs to make?
Which of the following is NOT mentioned as a potential means for expanding a business's product range?
Which of the following is NOT mentioned as a potential means for expanding a business's product range?
If a business wants to expand its geographic scope, which of the following is suggested as a potential strategy?
If a business wants to expand its geographic scope, which of the following is suggested as a potential strategy?
How did the biotechnology company decide to expand its presence in Europe?
How did the biotechnology company decide to expand its presence in Europe?
Which of the following is NOT a factor that a business strategist needs to consider when deciding on arenas for the business?
Which of the following is NOT a factor that a business strategist needs to consider when deciding on arenas for the business?
How might a business approach different product categories in terms of emphasis?
How might a business approach different product categories in terms of emphasis?
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