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Crafting and Executing Strategy Concepts and Cases The Quest For Competitive Advantage 20th Edition Thompson Test Bank 1
Crafting and Executing Strategy Concepts and Cases The Quest For Competitive Advantage 20th Edition Thompson Test Bank 1
1. A ketchup manufacturer convinces a supplier who makes vinegar to set up a nearby plant. Which of the following benefits will
the ketchup manufacturer be least assured of?
A. whether a company can build a brand name and an image that buyers trust.
B. whether a company's target market is broad or narrow and whether the company is pursuing a low cost or differentiation
strategy.
C. whether a company can achieve lower costs than rivals and whether the company is pursuing the industry's sales and market
share leader's role.
D. whether a company can offer the lowest possible prices and whether the company can get the best suppliers in the market.
E. whether a company's overall costs are lower than competitors' and whether the company can achieve strong product
differentiation.
4. Whatever strategic approach is adopted by a company to deliver value, it nearly always requires:
A. that management undertake formal planning sessions with functional departments to ensure productivity improvement.
B. the identification of strengths and weaknesses within the company.
C. matching corporate identity with the corporate culture in order to integrate effort and build sales momentum.
D. performing value chain activities differently than rivals and building competitively valuable resources and capabilities that
rivals cannot readily match.
E. constant efforts to thwart entry of new rivals and their attempts to create differentiated products with unit costs above price
premium.
5. The biggest and most important differences among the competitive strategies of different companies boil down to:
A. how they go about building a brand name image that buyers trust and whether they are a risk-taker or risk-avoider.
B. the different ways the companies try to cope with the five competitive forces.
C. whether a company's market target is broad or narrow and whether the company is pursuing a competitive advantage linked to
low cost or differentiation.
D. the kinds of actions companies take to improve their competitive assets and reduce their competitive liabilities.
E. the relative emphasis they place on offensive versus defensive strategies.
6. An automotive manufacturer sells a limited number of high-end, custom-built cars, using technologically advanced power
systems. What strategy is the manufacturer using to gain competitive advantage?
A. market share growth provider, sales revenue leader strategy, and market share retention strategy.
B. offensive strategies, defensive strategies, and counter maneuvers strategies.
C. low-cost provider, broad differentiation, best-cost provider, focused low-cost, and focused differentiation strategies.
D. low-cost/low-price strategies, high-quality/high-price strategies, and medium quality/medium price strategies.
E. price leader strategies, price follower strategies, technology leader strategies, and first-mover strategies.
8. Which of the following generic types of competitive strategies is typically the "best" strategy for a company to employ?
A. A strategy that seeks to underprice rivals on comparable products that attract a broad spectrum of buyers
B. A strategy that seeks to differentiate product offerings from rivals by offering superior attributes that attract a broad spectrum
of buyers
C. A strategy that concentrates on a narrow buyer segment and outcompetes rivals by offering niche members customized
attributes
D. A strategy that concentrates on value-conscious buyers and outcompetes rivals by offering products at attractive prices
E. A strategy that is customized to fit the macro-environment and industry and employs resources and capabilities that rivals
have trouble duplicating
10. Low-cost leaders who have the lowest industry costs are likely to:
A. have out managed rivals in finding ways to perform value chain activities more cost-effectively.
B. be considering exiting the current product market and use their competitive low-cost strength to gain a competitive advantage
in other product arenas.
C.
be favorites to win the game of strategy in the long run.
D. understand that driving costs to the lowest possible level is the only way to sell cheap products to consumers.
E.
understand that they have lower bargaining power with suppliers than rivals who employ a different strategy.
11. How valuable a low-cost leader's cost advantage is depends on:
A. whether it is easy or inexpensive for rivals to copy the low-cost leader's methods or otherwise match its low costs.
B. how easy it is for the low-cost leader to gain the biggest market share.
C. the aggressiveness with which the low-cost leader pursues converting the cost advantage into the absolute lowest possible
costs.
D. the leader's ability to combine the cost advantage with a reputation for good quality.
E. the low-cost leader's ability to be the industry leader in manufacturing innovation so as to keep lowering its manufacturing
costs.
12. A low-cost leader can translate its low-cost advantage over rivals into superior profit performance by:
13. Domino's Pizza has a well-known slogan: "We'll deliver in 30 minutes or less, or it's free!" With it what has the pizza maker
achieved?
14. The major avenues for achieving a cost advantage over rivals include:
A. performing value chain activities more cost-effectively than rivals or revamping the firm's overall value chain to eliminate or
bypass some cost-producing activities.
B. having a management team that is highly skilled in cutting costs.
C. being a first-mover in adopting the latest state-of-the-art technologies, especially those relating to low-cost manufacture.
D. outsourcing high-cost activities to cost-efficient vendors.
E. paying lower wages and salaries than rivals.
A. concentrating on the primary activities portion of the value chain and outsourcing all support activities.
B. being a first-mover in pursuing backward and forward integration and controlling as much of the industry value chain as
possible.
C. selling a mostly standard product and increasing the scale of operation.
D. minimizing R&D expenses and paying below-average wages and salaries to conserve on labor costs.
E. producing a standard product, redesigning the product infrequently, and having minimal advertising.
16. A fast-food restaurant stocks bread, meat, sauces, and other main ingredients, but does not assemble and cook its burgers and
sandwiches until a customer places an order. Which cost driver is the restaurant efficiently using to cut costs?
17. Which of the following is NOT an action that a company should take to perform value chain activities more cost-effectively?
A. Striving to capture all available economies of scale and taking advantage of experience and learning-curve effects
B. Trying to operate facilities at full capacity
C. Adopting labor-saving operating methods
D. Improving supply chain efficiency
E. Over-differentiating so that product features exceed the needs of most buyers
18. Cost-efficient management of a company's overall value chain activities requires that management:
19. Which of the following is NOT one of the ways that a company can achieve cost-efficient management of its value chain
activities?
A.
Striving to ensure a corporate diversity policy is introduced with effective controls
B. Using the company's strong bargaining power vis-à-vis suppliers or others in the value chain
C. Being alert to the cost advantages of outsourcing or vertical integration
D. Striving to capture all available economies of scale
E. Motivating employees through incentives and company culture
20. The culture of a company can be a cost-efficient value chain activity because it can:
THE END.
INDEX.
A.
Absorption of vapours by fluids, 59
—— —— —— by the lungs, formula of, 59
Academy of Medicine of Paris, reports by, 132–4
Accidents from chloroform, treatment and prevention of, 248–62
Age, influence of, on effects of chloroform, 49, 50
Age in fatal cases from chloroform, 230–1;
from amylene, 401–2
Air, saturation of, with chloroform vapour, 68, 123;
with amylene, 376
—— amount of, in lungs, 108
—— respired during chloroform, 108
Allen, Mr., on a fatal case from chloroform, 195–6
Alleged fatal cases from chloroform, 201–12
Ammonia, use of, after chloroform, 104
—— use of, during accidents from chloroform, 258
Amputations under chloroform of thigh, 276–7;
of leg, 277;
of arm, 277–8;
of the ankle, 278;
of other parts, ib.
Amylene, first application of, by author, 23
—— applications of, in Paris, Strasbourg, and Lyons, 24
—— discovery of, 372;
preparation of, ib.
—— chemical and physical characters of, 373–7
—— volatility of different specimens of, 416
—— experiments with, 378–86
—— administration of, for operations, 386, 400
—— administration of, in parturition, 394–7
—— mode of administration of, 386–7, 405–6, 416
—— symptoms produced by, 399, 400
—— spasms and rigidity from, 401–2
—— does not produce vomiting, 406–7
—— effects of, on different persons, 401–2
—— effects of, on author, 384
—— amount of, required to produce insensibility, 384
—— effects of, on the heart, 384
—— time of inhalation of, to produce insensibility, 397
—— effects of, on consciousness, 398–403
—— promptitude of action of, 403
—— effects of, on respiration and circulation, 400
—— —— —— on the salivary glands, 400
—— chloroform, and sulphuric ether, effects of, compared, 403–5
—— after-effects of, 406–7
—— fatal cases from inhalation of, 408–16
—— amount of vapour of, inhaled in fatal cases, 415
Amylene, author’s prediction regarding safety of, 417
—— mode of administration of, by M. Rigaud, 417–18
—— Mr. Clarke’s remarks on, 418;
—— Dr. Debout’s remarks on, ib.
—— Professor Tourdes’ remarks on, ib.
—— author’s computation of safety of, ib.
—— M. Giraldis on use of, 419
—— M. Jobert de Lamballe on use of, ib.
Anæsthesia, modes of production of, 40–1
Anæsthetics, definition of, 34–5
Ancients, views of the, 3
Animals, various, experiments on, with narcotic vapours, 60 to 73
Anus, operations on, under chloroform, 307, 308–9
Animation suspended by chloroform, treatment of, 251–62
Apuleius on effects of mandragora, 2
Apoplexy, administration of chloroform after, 57
Aretæus’ description of mandragora, 3
Arnott, Dr. James, statistics of operations before and after
introduction of etherisation, 265–7
—— on pyæmia following chloroform, 267
Arteries, coronary, circulation of the, 262
Artificial respiration, value of, 121, 251–7, 260
—— —— applied in cases of death from chloroform, 139, 144, 151,
156, 159, 163, 166, 167–8, 173, 179, 181, 183, 185, 187–8, 190–1,
194, 196–7, 207, 210
Artificial respiration applied in case of death from amylene, 410–
413
Arteries, ligature of, under chloroform, 289–291
Aschendorf, Dr., on alleged fatal case from chloroform, 204–5
Asphyxia idiopathica, 226
Asphyxia, death from, 235
Asthma, treatment of, with chloroform, 331
Athletics least susceptible of chloroform, 50
Augustus of Poland, operation on, without pain, 8
Aurelianus Cælius on mandragora, 3