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The topics and questions covered in stra...View Answer
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A) Our strategy is to win at any cost.
B) We will be number one in the industry.
C) Our aim is to create superior customer value while controlling costs.
D) We want to be the market leader by exactly replicating our competitor's strategy.
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Companies with successful strategies gen...View Answer
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A firm's performance is more closely rel...View Answer
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A) Using plastic as the packaging material though it is harmful to the environment, yet legal
B) Outsourcing production to a less developed country and paying wages that are below its own country's accepted minimum wages
C) Using advertising and other forms of promotion to endorse luxurious lifestyles
D) Selling vaccines at a subsidized price in a less developed country even though this results in reduced shareholder returns
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Legal responsibilities often define only...View Answer
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A) They attribute firm performance to the industry in which the firm competes.
B) They attribute firm performance to the actions managers take within a chosen industry.
C) They refer to the value-creation potential of a large, diversified enterprise.
D) They refer to the external circumstances surrounding all the firms in an industry.
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A) pay fair dividends and returns to the investors.
B) follow the employment laws of a country.
C) provide safe and quality products to the customers.
D) pay its workers more than the minimum living wages.
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A) Sourcing raw materials from highly developed countries
B) Paying adequate returns to the firm's stockholders on the capital invested by them
C) Donating resources, in terms of money and time, toward community development
D) Helping a nation increase its import of goods and services
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A) single-mindedly focus on the stockholders alone
B) gain and sustain competitive advantage
C) minimize the joint value created
D) minimize the difference between value creation and cost
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A) Legal responsibilities
B) Philanthropic responsibilities
C) Ethical responsibilities
D) Demographic responsibilities
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A) Economic responsibilities
B) Legal responsibilities
C) Contract responsibilities
D) Philanthropic responsibilities
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A) creditors
B) employees
C) shareholders
D) board members
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A) Ansoff's growth strategy matrix
B) AFI strategy framework
C) Sarbanes-Oxley Act
D) stakeholder impact analysis
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A) delivering unique features to its customers.
B) providing the lowest prices to its customers.
C) maximizing its profits by providing minimal customer service.
D) lowering costs by employing low-skill employees.
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A) ethical responsibilities
B) philanthropic responsibilities
C) legal responsibilities
D) political responsibilities
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As discussed in Strategy Highlight 1.2, ...View Answer
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The pyramid summarizes the four componen...View Answer
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Managers use the AFI framework to do two...View Answer
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A firm's internal stakeholders include s...View Answer
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