Case 6- Apple Inc.: Still Taking a Bite Out of the Competition?
Question 1
1.
The game plan a company's management is using to stake out a market position, conduct operations, attract and please customers, compete successfully, and achieve organizational objectives is referred to as its:
Answer
strategy
business model
strategic vision
business mission
5 points
Question 2
1.
Management's plan for making money in a particular line of business and the revenue-cost-profit economics of the company's strategy is:
Answer
called a company's strategy.
referred to as a company's primary strategic objective.
referred to as a company's primary financial objective.
referred to as a company's business model.
5 points
Question 3
1.
Company mission statements:
Answer
is best stated in generic terms that could apply to any company in the industry.
should be highly personalized and set an organization apart from others in its industry in the sense of specifying its own identity, business emphasis, and path for development.
is best crafted by the CEO.
should be reviewed on an annual basis.
5 points
Question 4
1.
Which is true? Objectives:
Answer
are essential for the company as a whole but are optional for the remaining organizational levels.
provide a virtual guarantee against the problem of organizational drift and complacency.
serve as necessary guidelines for arriving at an acceptable strategic vision and a challenging strategy.
are necessary for each key result that managers deem important to success.
5 points
Question 5
1.
The forces of competition in an industry are a function of:
Answer
the competitive pressures among rival firms that result from their jockeying for better market position and their maneuvers to gain a competitive edge.
the availability of substitute products that are competitively priced and the threat of potential entries into the marketplace.
the bargaining power of suppliers and
1.
The game plan a company's management is using to stake out a market position, conduct operations, attract and please customers, compete successfully, and achieve organizational objectives is referred to as its:
Answer
strategy
business model
strategic vision
business mission
5 points
Question 2
1.
Management's plan for making money in a particular line of business and the revenue-cost-profit economics of the company's strategy is:
Answer
called a company's strategy.
referred to as a company's primary strategic objective.
referred to as a company's primary financial objective.
referred to as a company's business model.
5 points
Question 3
1.
Company mission statements:
Answer
is best stated in generic terms that could apply to any company in the industry.
should be highly personalized and set an organization apart from others in its industry in the sense of specifying its own identity, business emphasis, and path for development.
is best crafted by the CEO.
should be reviewed on an annual basis.
5 points
Question 4
1.
Which is true? Objectives:
Answer
are essential for the company as a whole but are optional for the remaining organizational levels.
provide a virtual guarantee against the problem of organizational drift and complacency.
serve as necessary guidelines for arriving at an acceptable strategic vision and a challenging strategy.
are necessary for each key result that managers deem important to success.
5 points
Question 5
1.
The forces of competition in an industry are a function of:
Answer
the competitive pressures among rival firms that result from their jockeying for better market position and their maneuvers to gain a competitive edge.
the availability of substitute products that are competitively priced and the threat of potential entries into the marketplace.
the bargaining power of suppliers and