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Strategic Management Concepts and Cases Rothaermel Rothaermel 1st Edition Test Bank
Strategic Management Concepts and Cases Rothaermel Rothaermel 1st Edition Test Bank
USTESTBANK.COM
1
Student:
1. Keeping in mind Apple's competitive advantage, which of the following products was introduced by
Apple in 2007?
A. iPad
B. iPhoen
C. iPod
D. iTunes
2. is best described as an integrative management field that combines analysis, formulation, and
implementation in the quest for competitive advantage.
A. Supply chain management
B. Integrated technology management
C. Satrtegic management
D. Inventory management
3. is best described as a set of goal-directed actions a firm takes to gain and sustain superior
performance relative to competitors.
A. Behavior modification
B. Strateyg
C. Credo
D. Competency management
4. Which of the following stages of the strategic management process involves an evaluation of a firm's
external and internal environments?
A. Strategyanalysis
B. Strategy implementation
C. Strateygformulation
D. Srattegy control
5. In , a firm frames a guiding policy to address the competitive challenge.
A. strategy control
B. strateygimplementation
C. streagty formulation
D. strteagy analysis
6. Through , a firm puts its guiding policy into practice by employing a set of coherent actions.
A. strategy control
B. strateygimplementation
C. streagty formulation
D. strteagy analysis
7. A firm that achieves superior performance relative to other firms in the same industry or the industry
average has a(n) .
A. competitive advantage
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B. balancedscorecard
C. power position
D. equityleverage
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8. Cadia Foods Inc. was the first company to start selling energy drinks in its country—a product that gained
popularity among diverse groups. Soon, other companies started to sell their own brands of energy drinks,
thereby giving Cadia Foods ample competition. In response, Cadia Foods decided to limit its variety of
energy drinks to only two. However, it ensured that these two flavors were free of calories and low in
cost. With this innovation, Cadia Foods Inc. consistently outperformed its competitors for ten years. In
this scenario, Cadia Foods Inc. has maintained a through its innovative strategy.
A. balanced scorecard
B. fiducriay responsibility
C. consstient power position
D. sustnaiable competitive advantage
9. Which of the following scenarios illustrates a firm that has a sustainable competitive advantage?
A.Newon Inc. generated a revenue of $300,000 this financial year, which is close to the industrial
revenue average of $320,000.
B SM Inc. almost doubled its sales to 8500 units this year compared to its previous year's sales of 5000
. units, though the industry average is 10,000 units.
C.TrueLink Corp. was able to hold its market share of 68 percent in the social networking industry for
more than three years.
D Max Electrova Inc. was able to outperform its competitors with its new production system, in terms of
. revenue, for a brief period of four months.
10. If SA Pharmaceuticals obtains an 18 percent return on invested capital, which of the following will help
determine if it has a competitive advantage over other pharmaceutical companies?
A. Comparingthe return to the return on invested capital obtained by other firms in the industry
B. Assessignthe value based on the shareholders' expectations of return on their capital
C. Evaluatingthe liquidity ratios for other pharmaceutical companies
D. Companrig the value to the history of the firm's return of investment over a number of years
11. Underperformance relative to other firms in the same industry or the industry average results in a(n)
for a firm.
A. sustainable competitive advantage
B. increaesd power distance
C. diseconomies osfcope
D. competiivte disadvantage
12. New Communications Inc. is a newspaper publishing company whose average return on invested capital
is approximately 5 percent. Because newspaper publishing is a declining industry, the industry average
has been negative (-5 percent) for the last few years. In this scenario, New Communications Inc. has a
.
A. competitive advantage
B. balancedscorecard
C. compettiive disadvantage
D. power position
13. Exis Inc. and Stelma Inc. are two companies that have been manufacturing typewriters for almost 30
years. Due to the reduced demand for typewriters today, both companies' average return on invested
capital is approximately -5 percent. The current industry average is 2 percent. In this scenario, Exis Inc.
and Stelma Inc. most likely have:
A. competitive advantage over other firms in their industry.
B. com petitive parity with each other.
C. strategic alliance with each other.
D. ceonomies of scope instead of economies of scale.
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agitated him.
A servant let him quietly in, and an ominous stillness at once
struck a chill to his heart.
“Is Mr. Dalton living?” he asked.
“Yes, sir, but very low,” was the reply.
He led him to the same little reception-room where he had seen
Editha on that day before Christmas, and where she had given him
that little bunch of holly, and wished him, not the stereotyped “Merry
Christmas,” but “peace, good-will to men,” instead.
It came to him now, that sweet message, with strange vividness,
and he grew suddenly calm and solemn as he realized that he had
indeed come with “peace” in his heart, and “good-will” toward one
who had been his life-long enemy.
He gave his card to the servant, and then sat down to wait. Would
Editha come to greet him? he asked himself, and would he be able to
meet her as a brother should meet a sister?
Fifteen minutes elapsed, and then a door softly opened again.
Earle turned, his heart leaping to his throat, but it was not Editha.
He saw a strange but noble-looking woman coming toward him,
and wondered to see her there.
He bowed courteously, but she cordially extended her hand, as her
eyes sought his card, which the servant had given her, and upon
which was simply engraven the two names he had always borne. He
made no display of his title, nor of his new position.
“Mr. Wayne,” she said, “we hardly expected you to-day; but I am
very glad you have arrived. My name is Sylvester, and I am the only
one at liberty to come to you just now.”
Earle returned her greeting, wondering who Mrs. Sylvester could
be—certainly not the housekeeper, for her manner and bearing
forbade him to believe that she occupied that position; and he had
heard Editha say they had no near relatives living.
She might be some friend or neighbor come in to relieve her and
share her lonely vigils, he thought.
He inquired if Miss Dalton was well, and noticed that a queer little
smile wreathed the lady’s lips, as she replied:
“Editha is quite well, and is sleeping just now. Mr. Dalton had an
extremely distressing night, and she would persist in sitting up with
him until nearly morning. The poor darling has been unremitting in
her care, and is nearly worn out,” Mrs. Sylvester concluded, speaking
with great tenderness.
Earle then inquired concerning Mr. Dalton’s illness and its cause.
“That is a long, long story, and I will leave it for Editha to tell you
when she wakes, and you are rested. I will only say that it was
brought on by excessive excitement, during which he ruptured a
blood vessel.”
Earle expressed great surprise at this, and madam continued:
“He recovered somewhat from the first attack of bleeding, and we
were hoping his recovery would be permanent, when he had another,
since which he has been rapidly failing. As soon as he became
conscious that he could not live, he seemed to be exceedingly
troubled regarding some injury which he had done you, and wished
you sent for immediately. He will be much relieved to know of your
arrival, for he has been very restless and anxious ever since Mr.
Tressalia sent the telegram.”
“Is there no possible hope of his recovery?”
“No; there is not the slightest hope of that. The physician does not
think he can live many days. Now, if you will excuse me, I will go and
see if he feels able to see you, as he wished to be told the moment you
arrived,” madam concluded, rising, and with a graceful bow, left him
once more alone.
She had not been gone many minutes when a servant entered,
bearing a tray, on which was arranged a most tempting lunch.
“Madam directed this to be served,” explained the servant; and
again Earle wondered who this cultivated woman could be, who was
evidently a power in the house.
He partook of the lunch, however, with evident relish, for he was
hungry, having been too eager and excited to do justice to his
breakfast that morning.
Half an hour later madam returned, saying that Mr. Dalton was
ready and anxious to see him.
He arose and followed her to the sick man’s chamber, and almost
wondering if it could be true that he was about to stand at his own
father’s death-bed, and if ever before a son stood in such strange
relations toward a parent.
He was shocked at the change in Mr. Dalton.
Ghastly, wan, and panting with every breath, he lay bolstered up
with pillows, and Earle knew at a glance that he could not live many
days.
An expression of pain convulsed his features as the door opened
and his anxious eyes rested upon the young man’s handsome face
and noble form; and then, with a slight motion of his head, he
signified his wish for him to come and sit beside him.
It was a strange, sad meeting of a father and son.
The one so strong and manly, and in full vigor of life; the other
pale, emaciated, and dying, and neither experiencing nor expressing
any natural regard for the other.
Earle’s humanity was touched as soon as he saw the sufferer. He
forgot all his past bitterness, he forgot that this was one who claimed
to be an implacable foe, who had said he “hated him and all that ever
belonged to him.” He only thought of him now as a sick and dying
man who needed sympathy and care.
“You did not expect when you went away that when next we met
you would find your enemy laid so low, did you?” Mr. Dalton asked,
in a hollow voice, when Earle was seated, and searching his face with
a keen glance.
“I have never wished you any ill, sir,” he replied, respectfully.
“I cannot say the same regarding you, for there was nothing I
would not have done, for the sake of the hatred I bore your mother,
to have hurled you from the proud position you occupy.”
“Shall we not drop all this now and forever?” Earle interrupted,
gently, fearing he would become excited if this topic was renewed.
“No; I must have my say out now. I’ve been saving my strength for
this, and I have much to tell you, and the sooner it is over with, the
better for me. One’s sentiments change when a body feels life
slipping from his grasp, and I felt that I would like you to know
before I die that I realize at last, instead of injuring others only, I
have been my own worst enemy. I don’t know why I should always
have hated others for what has really been my own fault; for all
through my life my folly has been the cause of all my
disappointments.
“I have seen a child get angry with his toys—his top or his ball,
when it would not spin or bound as he wished it—and vent his anger
by destroying them, when it was only his own lack of judgment and
skill that prevented his enjoying them. I suppose it was that same
trait in me, only in tenfold degree, that has made me wish to destroy
every one who opposed or disappointed me in my schemes or
ambition.”
He paused a moment, and Earle watched him curiously. He had
never heard anything so strange before.
“Had I lived for ten, twenty, or even forty years more, I suppose I
should have gone on in the same way,” Mr. Dalton resumed. “I
suppose as long as I knew you were enjoying the position and
possessions I had so coveted, I should have continued to hate you,
and striven to do you injury. But my hatred can do you no further
harm now, nor me any good where I am going; neither money nor
position, the two things that I have most coveted all my life, can
benefit me further. I have never believed in a God, have tried to
believe that man was like the brutes, and consequently must get all
the enjoyments possible out of this life; but now that I have come to
this”—lifting his wasted hand and regarding it with a strange
expression of wonder, and perplexity, and regret—“I do not feel quite
so confident that God and eternity are not solemn truths. That the
mind is something greater than the body, and will probably exist in
another state, I am at last convinced; but I have no time to discuss
metaphysics now. My life has been a failure, for I have missed
everything for which I sought most eagerly. I have never known
what it is to be really happy. I have done a great deal of evil, and I do
not know a single human being that is better for my having lived in
the world. The only good thing that I can think of connected with
myself is, that no one will sorrow or be made unhappy by my death;”
and the smile that accompanied these words was intensely bitter.
“I have told you how I disliked you from the first, simply because
Richard Forrester was interested in you, and I was jealous of any one
who was likely to win anything from him. You know how I scorned
you because Editha took a girlish fancy to you, and you dared to treat
her as if you considered yourself her equal. I was so angry that day in
court that I could have blotted you out of existence had I possessed
the power, and throttled her when she stood up so fearlessly in that
crowded room and asserted your innocence. I was afraid she would
learn to love you, and persist in marrying you. I knew that Richard
Forrester was rich, and that she would have all his money; but I
meant she should get more, by making a wealthy marriage. The more
she had, the more I thought I should have, and stand the higher in
the world for it.”
Again he paused to rest, and Earle would have been glad if he
would cease entirely. He knew all this, and he could not see the good
of its all being rehearsed, neither could he understand toward what it
was drifting; but he was soon to know, and a great surprise awaited
him.
“When Richard Forrester died,” he began again, “and left you that
ten thousand dollars, I vowed you should not have it, for I felt sure it
would give you a start in life, and you would want to marry Editha. I
was bound she should wed a rich man, and I would not be thwarted.
Then I made the discovery of who you were; and if your sentence had
been for life, I would not have lifted my finger to have had it
mitigated in the slightest degree. I seemed to gloat over the fact that
Marion’s son, the son of the woman whose high spirit had prevented
me from reaching the goal I sought, was thus disgraced, and, not
knowing that she was dead, I thought I could imagine some of her
sufferings on account of it.
“I do not wonder that you shudder,” he said, seeing a quiver of
pain run over Earle’s body at this heartless speech; “and I can see
now just how such fiendish malice appears to others. If I had known,
however, that my marriage with Marion had been legal, you may be
sure I should have adopted a very different course. If, when from
motives of curiosity I opened that package belonging to you, I had
discovered those papers in the cardboard pocket, my ambition and
selfishness would have prompted me to court the favor of the heir of
Wycliffe. But I did not know, and when you told me, and refused to
let me share your honors, my ire increased tenfold, and I vowed I
would make you suffer for it in some way.”
Earle’s face was very grave and pale as he listened, and it seemed
as if he was almost living over again the troubles he had been
through, to be reminded of them in this way.
“There was only one way that I could do this,” Mr. Dalton said,
with a troubled glance at the white, set face by his side, “and that was
through Editha. You loved her, and she loved you, and I gloated over
the fact that through her I could make you miserable, though you
stood on the very pinnacle of where I had longed to climb, and even
though I sacrificed her in so doing.”
Earle’s lips twitched nervously at this, and, had not the man before
him been helpless and dying, his indignation must have burst forth
at this startling and inhuman statement.
Mr. Dalton noticed his emotion, and his lips curled in a bitter
smile.
“One is not often allowed the privilege of reading such a page of
heart-history as I am turning for you to-day; one does not often meet
a father who could cherish such bitterness and antagonism toward
his only son, and so utterly devoid of natural affection also for the
child whom he has reared from infancy; but I will make no half-
confession—I want you to know just how black my record has been,
and then I will make what restitution there is in my power.
“With all my other sins, I had a secret that I had kept for more
than twenty years, and expected it would die with me. I did not
believe there was a soul living who knew aught of it, or who could
ever discover it.
“But there was; justice was on my track, and, like an avenging
Nemesis, pursued me with a relentless determination. I fled, I hid, I
vowed I would not be thwarted out of every scheme I had formed,
but all to no purpose, and one day I was brought face to face with a
foe, of whose existence I had not dreamed until only a short time
before.
“Foiled at every point, my last weapon wrested from me, I lost all
control of myself, and in my anger and mortification ruptured a
blood vessel in the lungs, and knew that my days were numbered.
“It was not a pleasant thing to know that death had set his mark
upon me, and for awhile I tried to fight the conviction; but it was of
no use, and then I began to think; and one has very different ideas
regarding the end and aim of man, when ‘Death sits grinning his
horrible, ghastly smile upon him,’ than when in the full vigor of life.
“Like two vivid pictures, your life and mine arose up before me—
my own, full of pride, ambition, and selfishness, with no principle of
truth or goodness in it, and ending in utter wreck; yours, in the face
of mountain-like difficulties, filled with the beauty of high resolves,
noble purposes, and unwavering rectitude and nobility, not the least
of which was the fact that even while smarting beneath the fiercest
strokes of your enemy, you did not cease to be generous—that ten
thousand dollars, with all my arrogance and bravado, has lain heavy
on my conscience ever since you made it over to me.
“I am nearly done. I could not rest—I could not die until I had told
you all this. I do not ask you to forgive me; the words would seem but
mockery to you. The purity of your life, standing out in such bold
relief against the blackness of mine, enraged me. If I could have seen
you angry—if I could really have found a flaw in you—perhaps I
should not have always been so bitter. I say it always angered me,
until I was obliged to lie here and think. Now it shames me, and I
would be glad if I could annihilate from your memory the shame of
having had such a father. I cannot make any atonement for the past
to either you or Editha. I can only wish that your future may be as
full of happiness as you both deserve, and perhaps I may be able to
contribute a trifle to it by being the first to tell you that Editha is not
my child at all!”
CHAPTER XLV
MADAM SYLVESTER’S STORY
“Did you ever meet Mr. Dalton before?” Earle asked, excusing
himself for his involuntary interruption.
“No, never; but I will soon explain how he recognized me, though I
should never have known anything of him—should never have found
my child even then, had it not been for your cousin, Paul Tressalia,”
replied madam.
“Poor Paul!” Earle sighed, thinking how his hopes were doomed to
be blighted at every turn.
“Mr. Tressalia has suffered deeply,” madam returned, “but he is
rising above it nobly. I really believe if it had not been for his kind
and judicious care of Editha after he returned to Newport, she would
have sunk into a decline. He bravely renounced all his hopes of
winning her, when she told him that she could never love another,
and devoted himself to cheering her, and no one has expressed
himself more truly glad over these recent discoveries than your noble
cousin.”
“He is a truly brave man, and deserves a better fate than has
overtaken him just in the prime of his life,” Earle said, regretfully.
“A ‘better fate’ will yet come to him, I feel sure, and his life will yet
be rounded and completed by the hand of One who knows best how
to fashion the lives He has given us,” madam answered, with grave
thoughtfulness.
“As I told you,” she continued, after a moment, “on our arrival at
Saratoga, we repaired immediately to the garden-party, and while
there I managed to draw Editha one side for a little quiet chat, during
which she opened her heart to me. I had heard something of her sad
story from Mr. Tressalia before, but she related it to me more fully.
She spoke of her uncle several times, telling of his deep interest in
you, of his fondness for her, and that he had, in dying, bequeathed all
his fortune to her, save the sum he had wished you to have. I casually
inquired his name, but before she could reply, Mr. Dalton
interrupted us and took Editha away. The next morning I arose quite
early, considering the lateness of the hour that I had retired the night
previous, feeling very restless, and apprehensive of I know not what.
“I met Mr. Tressalia in a small sitting-room as I went below, and
immediately began talking of the conversation I had had with Editha
the night before.
“‘What was Miss Dalton’s uncle’s name—the one who left her his
fortune?’ I asked, during the interview.
“‘Richard Forrester,’ he returned; and I sank into a chair, feeling as
if a heavy hand had suddenly been laid upon my heart and stopped
its beating.
“You will not wonder,” madam continued, her face paling with
emotion even then at the remembrance, “when I tell you that
Richard Forrester was my husband!”
“Your husband!” repeated Earle, fairly dazed with astonishment.
“Yes, my husband, and Editha’s father. I saw through it all in an
instant. Mr. Dalton’s wife was his sister, and to her he had
committed his child. It was no wonder that I had been attracted
toward her from the very first; it was no wonder that, when I met her
for the first time in Redwood Library at Newport, my heart thrilled
with something stronger than sympathy for her sorrow and pity for
her suffering. She was my own, own child, and it was the instinct of
the mother claiming her offspring, even before she recognized her.
She was my baby, my pet, my little bud of promise, which had been
so cruelly wrested from my arms more than twenty years before.”
And madam’s tears flowed freely even now. Her joy was so new
that she could not speak of it without weeping.
“What a strange, strange story!” Earle exclaimed. “Richard
Forrester Editha’s father! That accounts, then, for the intense love
which he always seemed to bear her.”
“He did love her, then—he did not visit her mother’s sin upon the
life of her child?” madam asked, eagerly.
“No, indeed; he seemed to love her most devotedly. She never
came into his presence but that his eyes followed her every
movement with a strange, intense gaze, at which I often wondered.
But I cannot understand why he should have resigned his claim upon
her—why he denied himself all the comfort of her love, and had her
reared as Sumner Dalton’s child,” Earle said, thoughtfully.
“You will understand it as I go on,” madam returned, wiping her
tears. “Of course, after that discovery, I was nearly wild to claim my
child, and Mr. Tressalia went at once to arouse Mr. Dalton and
demand a full explanation of all the past in my behalf. You can
imagine something of our consternation when he discovered that he
had departed on an early train, taking Editha with him, and no one
could tell us whither they had gone. We returned to Newport,
thinking they might have gone back there, but they were not there.
Mr. Tressalia said that Mr. Dalton had visited Long Branch the
previous summer, and possibly we might find them there; so to Long
Branch we repaired, but with the same success. We visited one or
two other watering-places with a like result, and then returned to
New York, thinking we might find them at home; but their house was
closed, and we knew not which way to turn then. But I was
desperate. The fact of Sumner Dalton’s flying from me would have
alone convinced me that Editha was my child if nothing else had, and
I was determined I would never give up the chase until I found her.
“At last we discovered that they were boarding quietly at a hotel,
and one morning while seated in their private parlor, Mr. Dalton
reading, Editha sewing, we walked in upon them unannounced,
beyond a light knock upon their door.
“The look upon Mr. Dalton’s face upon beholding us was a strange
one—it was amazement, rage, and despair combined, while Editha
immediately sprang forward with a cry of joy to welcome us.
“‘I am unable to account for this intrusion,’ Mr. Dalton said, loftily,
and instantly recovering his self-possession.
“‘I can explain it in a very few words,’ I returned, calmly. ‘I have
come to claim my child!’
“‘I do not understand you,’ he answered, with well-feigned
surprise, but growing white as a piece of chalk at my words.
“‘You do understand me, Mr. Dalton,’ I said, sternly, ‘and you
know that I speak the truth when I claim this dear girl as my child
and Richard Forrester’s.’
“I turned to clasp her in my arms, but she had sunk, white and
trembling, into a chair.
“‘I should like to see your proofs of that statement,’ Mr. Dalton
sneered.
“I did not reply, but bending down, I took both of Editha’s hands
in mine, and said:
“‘My dear child, tell me the date of your birth.’
“‘Editha, I command you to hold no communication with that
woman,’ Mr. Dalton cried, shaking from head to foot with passion.
“Editha looked from one to the other in helpless amazement for a
moment; then she said:
“‘Surely, papa, it can do no harm for me to give the date of my
birth,’ then fixing her eyes wistfully on my face, and with lips that
quivered painfully, she added, ‘I was born October 24th, 1843.’
“My child and Richard Forrester’s—my little blue-eyed, fair-haired
girl, that her father named Editha for the happiness she brought him
—was born October 24th, 1843.
“‘My love, did no one ever tell you that you resembled Richard
Forrester?’ I asked, gathering her close in my arms, for I knew she
was mine, and I would never relinquish her again, unless, after
hearing my story, she should refuse to acknowledge me as her
mother.
“‘Yes, it was often remarked,’ she returned; ‘but mamma always
said it was not strange since Uncle Richard was her brother.’
“‘Not “Uncle Richard” any longer, my darling,’ I said, ‘but your
own father.’
“‘My father! and you were his wife—you are my mother?’ she said,
studying my face, and trembling in every nerve.
“‘It is a falsehood! Editha, leave the room instantly, and I will deal
with these people myself. Go, I say; that woman is no fit companion
for my daughter!’ Mr. Dalton shouted, and strode toward me, his
hands clenched and his face blazing with fury.