Mastering Strategy
9 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which of the following best defines strategy?

  • A set of interdependent choices that address certain questions (correct)
  • Choosing what to do and what not to do
  • Competing in terms of products, customers, and geography
  • A desired outcome
  • What is the purpose of a value proposition in a strategy?

  • To differentiate from competitors (correct)
  • To achieve a desired outcome
  • To compete in terms of products, customers, and geography
  • To create a low-cost strategy
  • What is the difference between operational effectiveness and strategy?

  • Operational effectiveness and strategy are the same thing
  • Operational effectiveness is about creating a low-cost strategy, while strategy is about achieving a desired outcome
  • Operational effectiveness is enough for sustainable long-term success, while strategy is about creating differentiation
  • Operational effectiveness is necessary for superior performance, while strategy is about choosing a unique position (correct)
  • Strategy can be defined as a distinctive array of interdependent choices that address certain ______.

    <p>questions</p> Signup and view all the answers

    Value proposition: Why do customers come to you and not go to your ______.

    <p>competitors</p> Signup and view all the answers

    Operational Effectiveness Necessary for superior performance/profitability, but not enough for sustainable long term ______.

    <p>success</p> Signup and view all the answers

    Strategy is about choosing a unique, valuable position that's rooted in a system of activities that are hard for other companies to match, providing _______ advantage.

    <p>competitive</p> Signup and view all the answers

    Sources of ______ advantage: What strategic choices have you made, to either create differentiation or a low-cost strategy, and what strategic choices have you made, with respect to investments, activities, resources, and capabilities that really allows you to create a sustainable competitive advantage.

    <p>competitive</p> Signup and view all the answers

    Desired outcome: What do you want to ________.

    <p>achieve</p> Signup and view all the answers

    More Like This

    Value Proposition in Marketing
    10 questions
    Value Proposition Essentials
    40 questions

    Value Proposition Essentials

    FashionableJadeite2851 avatar
    FashionableJadeite2851
    Use Quizgecko on...
    Browser
    Browser