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Questions and Answers
Which one of the following best describes the purpose of business strategy?
Which one of the following best describes the purpose of business strategy?
- To ensure that the advantage lasts for an extended period
- To generate positive reuters that are better than your competitors
- To develop a sustainable competitive advantage (correct)
- To analyze the environment and understand the challenges and opportunities
What is a strategy?
What is a strategy?
- A consistent set of actions that deliver a guiding policy
- A method to organize an organization to create value
- An analysis of the environment to understand the challenges and opportunities
- An integrated set of choices that positions an organization to generate superior performance over the long run (correct)
What are the two most fundamental strategic decisions?
What are the two most fundamental strategic decisions?
- Who should we hire and what products should we develop
- When should we enter the market and how should we advertise
- Why should we invest and how should we finance
- Where should we focus on creating value and how should we organize to create value (correct)
What must organizations do to form an effective strategy?
What must organizations do to form an effective strategy?
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What does it mean for a competitive advantage to be sustainable?
What does it mean for a competitive advantage to be sustainable?
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Which one of the following is the purpose of business strategy?
Which one of the following is the purpose of business strategy?
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What is a sustainable competitive advantage?
What is a sustainable competitive advantage?
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What is strategy?
What is strategy?
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What must organizations do to form an effective strategy?
What must organizations do to form an effective strategy?
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What are the two most fundamental strategic decisions?
What are the two most fundamental strategic decisions?
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