Midterm Review

Question 1

Which of the following is not something a company’s strategy is concerned with? A. Management’s choices about how to attract and please customers

B. Management’s choices about how quickly and closely to copy the strategies being used by successful rival companies

C. Management’s choices about how to grow the business

D. Management’s choices about how to outcompete rivals

E. Management’s action plan for conducting operations and improving the company’s strategic and financial performance

Answer 1

B. Management’s choices about how quickly and closely to copy the strategies being used by successful rival companies

Question 2

2. The competitive moves and business approaches a company’s management is using to grow the business, compete successfully, attract and please customers, conduct operations, respond to changing economic and market conditions, and achieve organizational objectives is referred to as its
   A. strategy.

B. mission statement.

C. strategic intent.

D. business model.

E. strategic vision.

Answer 2

A. strategy

Question 3

3. A company achieves sustainable competitive advantage when
   A. it has a profitable business model.

B. a sufficiently large number of buyers have a lasting preference for its products or services as compared to the offerings of competitors.

C. it is able to maximize shareholder wealth.

D. it is consistently able to achieve both its strategic and financial objectives.

E. its strategy and its business model are well-matched and in sync.

Answer 3

B. a sufficiently large number of buyers have a lasting preference for its products or services as compared to the offerings of competitors.

Question 4

4. The most important aspect(s) of a company’s business strategy
   A. are the actions and moves in the marketplace that managers take to gain a sustainable competitive advantage.

B. is figuring out how to maximize profits and shareholder value.

C. concerns how to improve the efficiency of its business model.

D. deals with how management plans to maximize profits while, at the same time, operating in a socially responsible manner.

E. is figuring out how to become the industry’s low-cost provider.

Answer 4

A. are the actions and moves in the marketplace that managers take to gain a sustainable competitive advantage.

Question 5

Which of the following is not one of the basic reasons that a company’s strategy evolves over time?
A. An ongoing need to abandon those strategy features that are no longer working well

B. The proactive efforts of company managers to improve the company’s financial performance and secure a competitive advantage

C. The need on the part of company managers to make regular adjustments in the company’s business model

D. The need to respond to the actions and competitive moves of rival firms

E. The need to keep strategy in step with changing industry and competitive conditions

Answer 5

C. The need on the part of company managers to make regular adjustments in the company’s business model

Question 6

6. Which of the following is a frequently used strategic approach to setting a company apart from rivals and achieving a sustainable competitive advantage?
   A. Striving to be the industry’s low-cost provider, thereby aiming for a cost-based competitive advantage.

B. Outcompeting rivals on the basis of such differentiating features as higher quality, wider product selection, added performance, better service, more attractive styling, or technological superiority.

C. Developing competitively valuable resources and capabilities that rivals can’t easily match, copy, or trump with capabilities of their own.

D. Focusing on a narrow market niche and winning a competitive edge by doing a better job than rivals of serving the special needs and tastes of buyers comprising the niche.

E. All of these.

Answer 6

E. All of these.

Question 7

7. A company may develop an emergent strategy due to
   A. strategic moves by rival firms.

B. unexpected shifts in customer preferences.

C. fast-changing technological developments.

D. new market opportunities.

E. All of these.

Answer 7

E. All of these.

Question 8

8. It is normal for a company’s strategy to end up being
   A. left unchanged from management’s original planned set of actions and business approaches since making on-the-spot changes is too risky.

B. a combination of defensive moves to protect the company’s market share and offensive initiatives to set the company’s product offering apart from rivals.

C. like the strategies of other industry members since all companies are confronting much the same market conditions and competitive pressures.

D. a blend of deliberate planned actions to improve the company’s competitiveness and financial performance and as-needed unplanned reactions to unanticipated developments and fresh market conditions.

E. a mirror image of its business model, so as to avoid impairing company profitability.

Answer 8

D. a blend of deliberate planned actions to improve the company’s competitiveness and financial performance and as-needed unplanned reactions to unanticipated developments and fresh market conditions.

Question 9

9. A viable business model includes a valuable customer value proposition that
   A. is always partly deliberate/planned and partly emergent/reactive.

B. is an essential component of pursuing the company’s strategic intent.

C. suggests the greater the value provided and the lower the price, the more attractive the value proposition.

D. lays out the approach to satisfying buyer wants and needs at a premium price.

E. must set forth management’s long-term action plan for achieving market leadership.

Answer 9

C. suggests the greater the value provided and the lower the price, the more attractive the value proposition.

Question 10

Which of the following questions ought to be used to distinguish a winning strategy from a so-so or flawed strategy?
A. Does the strategy contain a sufficient number of emergent/reactive elements?

B. Is the company putting too little emphasis on growth and profitability and too much emphasis on behaving in an ethical and socially responsible manner?

C. Is the strategy resulting in the development of additional competitive capabilities?

D. Is the strategy well-matched to the company’s situation, helping the company achieve a sustainable competitive advantage, and resulting in better company performance?

E. Does the strategy strike a good balance between maximizing shareholder wealth and maximizing customer satisfaction?

Answer 10

D. Is the strategy well-matched to the company’s situation, helping the company achieve a sustainable competitive advantage, and resulting in better company performance?

Question 11

The strategic management process is shaped by
A. management’s strategic vision, strategic and financial objectives, and strategy.

B. the decisions made by the compensation and audit committees of the board of directors.

C. external factors such as the industry’s economic and competitive conditions and internal factors such as the company’s collection of resources and capabilities.

D. a company’s customer value proposition and profit formula.

E. actions to strengthen competitive capabilities and correct weaknesses, actions to strengthen market standing and competitiveness by acquiring or merging with other companies, and actions to enter new geographic or product markets.

Answer 11

C. external factors such as the industry’s economic and competitive conditions and internal factors such as the company’s collection of resources and capabilities.

Question 12

A company’s strategic vision concerns
A. a company’s directional path and future product-customer-market-technology focus.

B. why the company does certain things in trying to please its customers.

C. management’s story line of how it intends to make a profit with the chosen strategy.

D. “who we are and what we do.”

E. what future actions the enterprise will likely undertake to outmaneuver rivals and achieve a sustainable competitive advantage.

Answer 12

A. a company’s directional path and future product-customer-market-technology focus.

Question 13

Well-conceived visions are
A. distinctive.


B. specific to a particular organization.

C. free of generic, feel-good statements.

D. not innocuous one-sentence statements.

E. All of these.

Answer 13

E. All of these.

Question 14

4. Which of the following are common shortcomings of company vision statements?
   A. Too broad, vague or incomplete, bland/uninspiring, not distinctive, and too reliant on superlatives

B. Unrealistic, unconventional, and unbusinesslike

C. Too specific, too inflexible, and can’t be achieved in five years

D. Too broad, too narrow, and too risky

E. Not customer-driven, out-of-step with emerging technological trends, and too ambitious

Answer 14

A. Too broad, vague or incomplete, bland/uninspiring, not distinctive, and too reliant on superlatives

Question 15

A company’s mission statement should be sufficiently descriptive and include which of the following? 

A. Identify the company’s services and products to give the company its own identity

B. Relate to the buyer’s needs that the company seeks to satisfy

C. Identify the customer or market that the company intends to serve

D. Specify the approach taken by the company to satisfy its customer’s needs

E. All of these

Answer 15

E. All of these

Question 16

The managerial purpose of setting objectives includes
A. converting the strategic vision into specific performance targets.

B. using the objectives as yardsticks for tracking the company’s progress and performance.

C. challenging the organization to perform at its full potential and deliver the best possible results.

D. establishing deadlines for achieving performance results.

E. All of these.

Answer 16

E. All of these

Question 17

A balanced scorecard that includes both strategic and financial performance targets is a conceptually strong approach for judging a company’s overall performance because
A. financial performance measures are lagging indicators that reflect the results of past decisions and organizational activities whereas strategic performance measures are leading indicators of a company’s future financial performance.

B. it entails putting equal emphasis on good strategy execution and good business model execution.

C. a balanced scorecard approach pushes managers to avoid setting objectives that reflect the results of past decisions and organizational activities and, instead, to set objectives that will serve as leading indicators of a company’s future financial performance.

D. it assists managers in putting roughly equal emphasis on short-term and long-term performance targets.

E. it more or less forces managers to put equal emphasis on financial and strategic objectives.

Answer 17

A. financial performance measures are lagging indicators that reflect the results of past decisions and organizational activities whereas strategic performance measures are leading indicators of a company’s future financial performance.

Question 18

The task of stitching together a strategy
A. entails addressing a series of hows: how to grow the business, how to please customers, how to outcompete rivals, how to respond to changing market conditions, and how to achieve strategic and financial objectives.

B. is primarily an exercise in deciding which of several freshly emerging market opportunities to pursue.

C. is mainly an exercise that should be dictated by what is comfortable to management from a risk perspective and what is acceptable in terms of capital requirements.

D. requires trying to copy the strategies of industry leaders as closely as possible.

E. is mainly an exercise in good planning.

Answer 18

A. entails addressing a series of hows: how to grow the business, how to please customers, how to outcompete rivals, how to respond to changing market conditions, and how to achieve strategic and financial objectives.

Question 19

9. In a single-business company, the strategy-making hierarchy consists of
   A. business strategy, divisional strategies, and departmental strategies.

B. business strategy, functional strategies, and operating strategies.

C. business strategy and operating strategy.

D. managerial strategy, business strategy, and divisional strategies.

E. corporate strategy, divisional strategies, and departmental strategies.

Answer 19

B. business strategy, functional strategies, and operating strategies.

Question 20

Which of the following is not among the principal managerial tasks associated with managing the strategy execution process?
A. Ensuring that policies and procedures facilitate rather than impede effective execution

B. Creating a company culture and work climate conducive to successful strategy implementation and execution

C. Surveying employees on how employee job satisfaction can be improved

D. Exerting the internal leadership needed to drive implementation forward

E. Tying rewards and incentives directly to the achievement of performance objectives

Answer 20

C. Surveying employees on how employee job satisfaction can be improved

Question 21

1. Which of the following is not a relevant consideration in identifying an industry’s dominant economic features?
   A. Market size and growth rate, the geographic scope of competitive rivalry, and demand-supply conditions

B. How many strategic groups the industry has and which ones are most profitable and least profitable

C. The number and sizes of buyers, the number of rivals, and the pace of product innovation

D. The pace of technological change

E. The current industry position in its life cycle to reveal the industry’s growth prospects

Answer 21

C. The number and sizes of buyers, the number of rivals, and the pace of product innovation

Question 22

Which of the following conditions acts to weaken buyer bargaining power?
A. When buyers are unlikely to integrate backward into the business of sellers

B. When buyers are well informed about sellers’ products, prices, and costs

C. When the costs incurred by buyers in switching to competing brands or to substitute products are relatively low

D. When buyers have the ability to postpone purchases if they don’t like the prices offered by sellers

E. When buyers are few in number and/or often purchase in large quantities

Answer 22

A. When buyers are unlikely to integrate backward into the business of sellers

Question 23

Which of the following is not a good example of a substitute product that triggers stronger competitive pressures?
A. Artificial sweetener as a substitute for sugar

B. Wireless phone service as a substitute for a landline telephone

C. Coca-Cola as a substitute for Pepsi

D. Digital cameras as substitutes for film cameras

E. Video-on-demand services as a substitute for renting movies from a movie rental store

Answer 23

C. Coca-Cola as a substitute for Pepsi

Question 24

Which one of the following is not a reason industry members are often motivated to enter into collaborative partnerships with key suppliers?
A. To reduce the costs of switching suppliers

B. To speed the availability of next-generation components

C. To enhance the quality of parts and components being supplied and reduce defect rates

D. To squeeze out important cost savings for both themselves and their suppliers

E. To reduce inventory and logistics costs

Answer 24

A. To reduce the costs of switching suppliers

Question 25

The most powerful of the five competitive forces is usually
A. the competitive pressures that stem from the ready availability of attractively priced substitute products.

B. the competitive pressures associated with rivalry among competing sellers in the industry for buyer patronage.

C. the benefits that emerge from close collaboration with suppliers and the competitive pressures that such collaboration creates.

D. the competitive pressures associated with the potential entry of new competitors.

E. the bargaining power and leverage that large customers are able to exercise.

Answer 25

B. the competitive pressures associated with rivalry among competing sellers in the industry for buyer patronage.

Question 26

6. A competitive environment where there is weak to moderate rivalry among sellers, high entry barriers, weak competition from substitute products, and little bargaining leverage on the part of both suppliers and customers
   A. lacks powerful driving forces.

B. gives each industry competitor the best potential for building sustainable competitive advantage.


C. makes it hard for industry members to pursue a differentiation strategy.

D. is conducive to industry members earning attractive profits.

E. requires that industry members have low costs.

Answer 26

D. is conducive to industry members earning attractive profits.

Question 27

Driving forces analysis
A. involves identifying the driving forces, assessing whether their impact will make the industry more or less attractive, and determining what strategy changes a company may need to make to prepare for the impact of the driving forces.

B. identifies which strategic group is the most powerful.

C. helps managers identify which industry member is likely to become (or remain) the industry leader and why.

D. helps managers identify which key success factors are most likely to help their company gain a competitive advantage.

E. helps managers identify which of the five competitive forces will be the strongest driver of industry change.

Answer 27

A. involves identifying the driving forces, assessing whether their impact will make the industry more or less attractive, and determining what strategy changes a company may need to make to prepare for the impact of the driving forces.

Question 28

8. A strategic group
   A. consists of those industry members that are growing at about the same rate and have similar product line breadth.

B. includes all rival firms having comparable profitability.

C. is a cluster of industry rivals that have similar competitive approaches and market positions.

D. consists of those firms whose market shares are about the same size.

E. is made up of those firms having comparable profit margins.

Answer 28

C. is a cluster of industry rivals that have similar competitive approaches and market positions.

Question 29

In seeking to predict the next moves of close or key rivals, it is useful to consider such questions as:
A. Which rivals badly need to increase their unit sales and market share?

B. Are there predictable trends in the timing of rivals’ new-product launches or marketing promotions?

C. Which rivals have a strong incentive, along with the resources, to make major strategic changes?

D. Which rivals are likely to enter new geographic markets or expand their product offerings?

E. All of these

Answer 29

E. All of these

Question 30

10. Which of the following factors should a company consider when determining if an industry offers good prospects for attractive profits?
    A. The industry’s growth potential, whether competition appears destined to become stronger or weaker, how the industry’s driving forces might affect overall industry profitability, the company’s competitive position relative to rivals, and the company’s proficiency in performing industry key success factors

B. An assessment of which firms in the industry have the best and worst competitive strategies, whether the number of strategic groups in the industry is increasing or decreasing, and whether economies of scale and experience curve effects are a key success factor

C. Whether there are more than five key success factors and more than five barriers to entry

D. Constructing a strategic group map and assessing the attractiveness of the competitive position of each strategic group

E. Whether the market leaders enjoy competitive advantages and how hard it is to develop a strongly differentiated product

Answer 30

A. The industry’s growth potential, whether competition appears destined to become stronger or weaker, how the industry’s driving forces might affect overall industry profitability, the company’s competitive position relative to rivals, and the company’s proficiency in performing industry key success factors

Question 31

1. A resource-based strategy
   A. focuses on exploiting a company’s best-executed operating strategy.

B. is based upon efficient performance of the company’s primary value chain activities.

C. concentrates on minimizing the costs associated with the design of a product or service.

D. attempts to exploit resources in a manner that offers value to customers in ways rivals are unable to match.

E. focuses on working with forward channel allies to develop capabilities to outmatch the capabilities of rivals.

Answer 31

D. attempts to exploit resources in a manner that offers value to customers in ways rivals are unable to match.

Question 32

2. For a particular company resource to have meaningful competitive power and perhaps qualify as a basis for competitive advantage, it should
   A. be competitively important, hard for competitors to copy or imitate, rare and something rivals lack, and not be easily trumped by the substitute resources/capabilities of rivals.

B. be something that a company does internally rather than in collaborative arrangements with outsiders.

C. be patentable.

D. be rooted in the company’s organizational capital, information capital, or human capital.

E. have the potential for lowering the firm’s unit costs.

Answer 32

A. be competitively important, hard for competitors to copy or imitate, rare and something rivals lack, and not be easily trumped by the substitute resources/capabilities of rivals.

Question 33

3. Every organization has many resources, capabilities and routines however those few things the company does really well and are performed with a very high proficiency are termed
   A. Core competencies.

B. Distinct capabilities.

C. Sustainable activities.

D. Socially complex activities.

E. Distributive factors.

Answer 33

B. Distinct capabilities.

Question 34

4. Identifying and appraising a company’s resource strengths and weaknesses and its external opportunities and threats is called
   A. SWOT analysis.

B. competitive asset/liability analysis.

C. competitive positioning analysis.

D. strategic resource assessment.

E. company resource mapping.

Answer 34

A. SWOT analysis.

Question 35

5. Sizing up a company’s overall resource strengths and weaknesses
   A. essentially involves constructing a “strategic balance sheet” where the company’s resource strengths represent competitive assets and its resource weaknesses represent competitive liabilities.

B. is called benchmarking.

C. is called competitive strength assessment.

D. is focused squarely on ascertaining whether the company has more/less resource strengths than weaknesses.

E. is called company resource mapping.

Answer 35

A. essentially involves constructing a “strategic balance sheet” where the company’s resource strengths represent competitive assets and its resource weaknesses represent competitive liabilities.

Question 36

6. The most important payoff of doing a thorough SWOT analysis is
   A. identifying whether the company’s value chain is cost effective vis-à-vis the value chains of rivals.

B. helping strategy makers benchmark the company’s resource strengths against industry key success factors.

C. enabling a company to assess its leverage in negotiations with buyers.

D. revealing whether a company’s market share, measures of profitability, and sales compare favorably or unfavorably vis-à-vis key competitors.

E. assisting strategy makers in drawing conclusions about the company’s overall situation and crafting a strategy that is well-matched to the company’s resources and capabilities, its market opportunities, and the external threats to its future well-being.

Answer 36

E. assisting strategy makers in drawing conclusions about the company’s overall situation and crafting a strategy that is well-matched to the company’s resources and capabilities, its market opportunities, and the external threats to its future well-being.

Question 37

7. A company’s value chain
   A. consists of the primary activities that it performs in seeking to deliver value to shareholders in the form of higher dividends and a higher stock price.

B. depicts the internally performed activities associated with creating and enhancing the company’s competitive assets.

C. consists of two broad categories of activities: the primary activities that create customer value and the requisite support activities that facilitate and enhance the performance of the primary activities.

D. concerns the basic process the company goes through in performing R&D and developing new products.

E. consists of the series of steps a company goes through to develop a new product, get it produced and into the marketplace, and then start collecting revenues and earning a profit.

Answer 37

C. consists of two broad categories of activities: the primary activities that create customer value and the requisite support activities that facilitate and enhance the performance of the primary activities.

Question 38

Accurately assessing the competitiveness of a company’s cost structure and value proposition requires
A. that managers understand an industry’s entire value chain system.

B. that managers understand the detail of their own company’s value chain.

C. that managers are involved in functional strategy development.

D. that managers understand the firm’s profitability outlook.

E. All of these.

Answer 38

A. that managers understand an industry’s entire value chain system.

Question 39

Which of the following is not an option for improving supplier-related value chain activities?
A. Integrate backward into the business of high-cost suppliers in an effort to reduce the costs of the items being purchased

B. Negotiate more favorable prices with suppliers

C. Collaborate closely with suppliers to identify mutual cost-saving opportunities

D. Switch to lower priced substitute inputs

E. Persuade forward channel allies to implement best practices

Answer 39

E. Persuade forward channel allies to implement best practices

Question 40

10. Which one of the following is not something that can be learned from doing a competitive strength assessment?
    A. The factors on which a company is competitively strongest and weakest vis-à-vis key rivals

B. Whether a company should correct its weaknesses by adopting best practices and revamping the makeup of its value chain

C. Which of the rated companies is competitively strongest and what size competitive advantage it enjoys

D. Whether a company has a net competitive advantage or a net competitive disadvantage relative to key rivals (with the size of the advantage/disadvantage being indicated by the differences among the companies’ competitive strength scores)

E. Which rival company is competitively weakest and the areas where it is most vulnerable to competitive attack

Answer 40

B. Whether a company should correct its weaknesses by adopting best practices and revamping the makeup of its value chain

Question 41

1. The generic types of competitive strategies include
   A. build market share, maintain market share, and slowly surrender market share.

B. offensive strategies and defensive strategies.

C. low-cost provider, broad differentiation, focused low-cost, focused differentiation, and best-cost provider strategies.

D. low-cost/low-price strategies, high-quality/high-price strategies, medium-quality/medium-price strategies, low-cost/high-price strategies.

E. price leader strategies, price follower strategies, technology leader strategies, first-mover strategies, offensive strategies, and defensive strategies.

Answer 41

C. low-cost provider, broad differentiation, focused low-cost, focused differentiation, and best-cost provider strategies.

Question 42

2. Achieving a cost advantage over rivals entails
   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. performing value chain activities more cost-effectively than rivals and finding ways to eliminate or bypass some cost-producing activities.

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.

Answer 42

C. performing value chain activities more cost-effectively than rivals and finding ways to eliminate or bypass some cost-producing activities.

Question 43

In which of the following circumstances is a strategy to be the industry’s overall low-cost provider not particularly well matched to the market situation?
A. When the offerings of rival firms are essentially identical, standardized, commodity-like products

B. When there are few ways to achieve differentiation that have value to buyers

C. When price competition is especially vigorous

D. When buyers have widely varying needs and special requirements and when the cost of switching purchases from one seller to another are relatively high

E. When industry newcomers use introductory prices to build a customer base

Answer 43

D. When buyers have widely varying needs and special requirements and when the cost of switching purchases from one seller to another are relatively high

Question 44

A company that succeeds in differentiating its product offering from those of its rivals can usually
A. avoid having to compete on the basis of simply a low price.

B. charge a price premium for its product (because buyers see its differentiating features as worth something extra).

C. increase unit sales (because of the attraction of its differentiating product attributes).


D. gain buyer loyalty to its brand (because some customers will have a strong preference for the company’s differentiating features).

E. All of these.

Answer 44

E. All of these.

Question 45

Opportunities to differentiate a company’s product offering
A. are always dependent on the capabilities of the company’s R&D staff.

B. are more likely to be captured by highly skilled marketers.

C. can exist in supply chain activities, R&D, manufacturing activities, distribution and shipping, or marketing, sales, and customer service.

D. usually are tied to product quality and durability and product reliability and proliferation.

E. are most frequently attached to a product’s brand image, performance, and reliability.

Answer 45

C. can exist in supply chain activities, R&D, manufacturing activities, distribution and shipping, or marketing, sales, and customer service.

Question 46

6. A broad differentiation strategy generally produces the best results in situations where
   A. buyer brand loyalty is low.

B. few rivals are following a similar differentiation approach.

C. new and improved products are introduced only infrequently.

D. most rivals are seeking to differentiate their products on most of the same features and attributes.

E. price competition is vigorous.

Answer 46

B. few rivals are following a similar differentiation approach.

Question 47

The advantages of focusing a company’s entire competitive effort on a single market niche allows for
A. going after a national customer base with a “something for everyone” lineup of models.

B. scaling operations to serve the customer market segment.

C. utilizing the full depth of the company’s resources across a broad base of customers.

D. executing competencies and capabilities better than competitors.

E. All of these.

Answer 47

B. scaling operations to serve the customer market segment.

Question 48

8. The risks of a focused strategy based on either low-cost or differentiation include
   A. the chance that niche customers will bargain more aggressively for good deals than customers in the overall marketplace.

B. the potential for the preferences and needs of niche members to shift over time toward many of the same product attributes and capabilities desired by buyers in the mainstream portion of the market.

C. the potential for the segment to be highly vulnerable to economic cycles.

D. the potential for segment growth to race beyond the production or service capabilities of incumbent firms.

E. All of these.

Answer 48

B. the potential for the preferences and needs of niche members to shift over time toward many of the same product attributes and capabilities desired by buyers in the mainstream portion of the market.

Question 49

For a best-cost provider strategy to be successful, a company must have
A. excellent marketing and sales skills in convincing buyers to pay a premium price for the attributes/features incorporated in its product.

B. the capability to incorporate upscale attributes at lower costs than rivals whose products have similar upscale attributes.

C. access to greater learning/experience curve effects and scale economies than rivals.

D. one of the best-known and most respected brand names in the industry.

E. a short, low-cost value chain.

Answer 49

B. the capability to incorporate upscale attributes at lower costs than rivals whose products have similar upscale attributes.

Question 50

10. A company’s competitive strategy should
    A. be well matched to its internal situation and predicated on leveraging its collection of competitively valuable resources and competencies.

B. be aligned toward being at least an average performer within the industry.

C. be well attuned to doing an outstanding job of satisfying the needs and expectations of niche buyers.

D. have the resources and capabilities to incorporate standard attributes into its product offering.

E. ensure it is designed to concentrate on a small range of products so it can react quickly to competitive moves.

Answer 50

A. be well matched to its internal situation and predicated on leveraging its collection of competitively valuable resources and competencies.