What separates a powerful strategy from a run-of-the-mill or ineffective one?Multiple Choicethe ability of the strategy to keep the company profitablethe speed with which it helps the company achieve its strategic visionwhether it allows the company to maximize shareholder value in the shortest possible timethe proven ability of the strategy to generate maximum profitsmanagement's ability to forge a series of actions, both in the marketplace and internally, that sets the company apart from rivals and produces sustainable competitive advantage

If a firm finds it most profitable to adopt the same strategy regardless what its rival chooses to do, then that firm has a dominant strategy

Which of the following parameters can be used to distinguish between a successful strategy and a flawed strategy?A successful strategy will be unaffected by the company’s internal and external situationA successful strategy will build a short-term competitive advantage for the companyA successful strategy is unrelated to the profitability of the companyA successful strategy will fit into the company’s business situation, will build a sustainable competitive advantage and improve the company’s performance

Managers can use two basic business-level strategies to add value to an organization’s products and achieve a competitive advantage. They can pursue a _______ strategy or a _____ strategy.Multiple choice question.differentiation; profitlow-cost; differentiationlow-cost; profitdifferentiation; customer service

What is strategy?Multiple choice question.a sustainable and dominant market sharea decision based on external situational analysisa decision based on internal situational analysisthe set of actions a firm takes to achieve a competitive advantage

A strategy is the set of decisions that managers make to assist the organization in attaining its goals. Group startsTrue or FalseTrue, unselectedFalse, unselected