What is evident when a company does something especially well in comparison to its competitors? Choose 1 answer
Answer(s): C
When a company does something especially well in comparison to its competitors, this is evident through its core capabilities. Core capabilities refer to a firm's resources and skills that are fundamental to its business and competitive advantage. These capabilities enable the firm to differentiate itself from competitors, achieve better performance, and maintain a strong market position.
Which competitive force is reduced by the barriers provided by government policies, capital requirements, brand identification, and cost disadvantages? Choose 1 answer
Answer(s): A
The competitive force reduced by barriers such as government policies, capital requirements, brand identification, and cost disadvantages is the threat of new entrants. These barriers make it difficult for new firms to enter an industry and compete with established companies, thereby protecting existing firms from new competitors.
A company is attempting to be efficient by offering a no-trills product.What type of strategy is the company pursuing? Choose 1 answer
Answer(s): D
A company offering a no-frills product to be efficient is pursuing a low-cost strategy. This strategy focuses on minimizing costs and offering products at the lowest possible price to attract cost- conscious customers. This approach involves strict cost control and operational efficiency to maintain profitability while offering lower prices than competitors.
A computer manufacturer purchases the company that supplies computer chips for the company.Which type of corporate strategy is the company using? Choose 1 answer
When a computer manufacturer purchases the company that supplies computer chips for the company, it is using a vertical integration strategy. Vertical integration involves expanding a company's operations into different stages of production within the same industry, such as acquiring suppliers or distributors, to increase control over the supply chain and reduce costs.
During an annual staff meeting the CEO of a corporation addressed the audience by stating that the long-term goal of the corporation is to "become the most competitive company in the world and to grow more rapidly than our competitors by providing the best customer service in the business."What did the CEO's statement reflect?Choose 1 answer
The CEO's statement about the long-term goal of the corporation reflects the strategic vision. A strategic vision articulates what the organization aspires to achieve in the future, guiding its direction and efforts. It is a broad statement that defines the desired long-term outcomes and the future state the company aims to reach.
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