Sustainable Competitive Advantage in Strategic Management
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Questions and Answers

What is the strategic approach that focuses on offering unique and distinctive products or services in a wide market?

  • Focused Differentiation
  • Low-Cost Provider Efficiency
  • Broad Differentiation (correct)
  • Value for Money

    • Which strategic approach involves focusing on offering unique and distinctive products or services in a narrow segment of the market?

  • Hybrid Strategy
  • Value for Money
  • Focused Differentiation (correct)
  • Broad Differentiation

    • What type of strategic approach offers a blend of low-cost provider efficiency and value for money to customers?

  • Hybrid Strategy (correct)
  • Value for Money
  • Broad Differentiation
  • Low-Cost Provider Efficiency

    • Which strategic approach focuses on providing products or services with the lowest production costs in the market?

    <p>Low-Cost Provider Efficiency</p> Signup and view all the answers

    Which strategic approach aims at providing customers with a balance of quality, features, and performance at a reasonable price?

    <p>Value for Money</p> Signup and view all the answers

    What does a company's strategy involve?

    <p>Reacting to fresh moves of competitors</p> Signup and view all the answers

    Which element of a firm's realized strategy includes new initiatives?

    <p>Proactive (deliberate) strategy elements</p> Signup and view all the answers

    What does competitive strategy revolve around?

    <p>Being different</p> Signup and view all the answers

    Which of the following is NOT a distinctive capability mentioned in the text?

    <p>Low-Cost Provider Efficiency</p> Signup and view all the answers

    What is Coca Cola known for in terms of differentiation?

    <p>Unique packaging</p> Signup and view all the answers

    Which strategic example aligns with Coca Cola's distinctive capabilities?

    <p>Sophisticated distribution systems</p> Signup and view all the answers

    What is the relationship between the value provided (V) and the price (P) in a value proposition?

    <p>Inverse relationship: as V increases, P decreases.</p> Signup and view all the answers

    What is the primary factor that determines the ability of a business model to generate profits?

    <p>Costs for a given customer value proposition (C)</p> Signup and view all the answers

    Which factor is NOT considered when evaluating a winning strategy according to the text?

    <p>Degree of customer loyalty to the company</p> Signup and view all the answers

    What is the main purpose of a company's business model, as mentioned in the text?

    <p>To explain how its strategy will deliver value and make profits</p> Signup and view all the answers

    What impact do lower costs (C) have on a business model's profitability according to the text?

    <p>Positive impact: lower costs increase profitability</p> Signup and view all the answers

    How does a winning strategy differ from other strategies, based on the text?

    <p>It leads to sustainable competitive advantage and boosts performance.</p> Signup and view all the answers

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