The heart and soul of a company's strategy-making effort
is figuring out how to become the industry’s low-cost provider.
is figuring out how to maximize the profits and shareholder value.
concerns how to improve the efficiency of its business model.
deals with how management plans to maximize profits while, at the same time, operating in a socially responsible manner that keeps the company’s prices as low as possible.
involves coming up with moves and actions that produce a durable competitive edge over rivals.
A company’s strategy and its quest for competitive advantage are tightly connected because
without a competitive advantage a company cannot become the industry leader.
without a competitive advantage a company cannot have a profitable business model.
crafting a strategy that yields a competitive advantage over rivals is a company’s most reliable means of achieving above-average profitability and financial performance.
a competitive advantage is what enables a company to achieve its strategic objectives.
how a company goes about trying to please customers and outcompete rivals is what enables senior managers choose an appropriate strategic vision for the company.
Which of the following is not something to look for in identifying a company's strategy?
Actions to respond to changing market conditions or other external factors
Management actions to revise the company's financial and strategic performance targets
Actions to strengthen competitive capabilities and correct competitive weaknesses
Actions to capture emerging market opportunities and defend against external threats to the company's business prospects
Actions to gain sales and market share via lower prices, more performance features, more appealing...
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