MGT 498 Wk 1 – Practice: Ch. 1, What is Strategy

Sustainable competitive advantage exists when a firm Blank______.

Multiple choice question.

is self-regulated and self-motivated

starts up and competes for existing market share in the industry

maintains superior performance relative to its industry over a long period of time

formulates and implements strategy

Which of the following elements comprise strategic management?

Multiple select question.

analysis

formulation

definition

realization

implementation

What is strategy?

Multiple choice question.

the set of actions a firm takes to achieve a competitive advantage

a decision based on external situational analysis

a decision based on internal situational analysis

a sustainable and dominant market share

Effective guiding policy is supported by and stays consistent through the use of Blank______.

Multiple choice question.

social responsibilities

grandiose statements

trade-offs

strategic commitments

A competitive advantage that lasts for a long period of time is said to be Blank______.

Multiple choice question.

topical

geographic

sustainable

theoretical

accurate