53.
The options for remedying a supplier-related cost disadvantage include
54.
Which of the following is
not
an option for improving supplier-related value chain activities?
55.
The options for remedying a cost disadvantage associated with activities performed by
forward channel allies include
56.
Which of the following is
not
an option for remedying a forward channel-related cost
disadvantage?
57.
The value of doing competitive strength assessment is to
58.
Doing a competitive strength assessment entails
59.
A company’s competitive strength scores
60.
Which one of the following is
not
something that can be learned from doing a competitive
strength assessment?
61.
Identifying the strategic issues a company faces and compiling a “worry list” of problems and
roadblocks is an important component of company situation analysis because
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62.
Which of the following is
not
accurate as concerns the task of identifying the strategic issues
and problems that merit front-burner managerial attention?
Short Answer Questions
63.
Identify the five questions that form the framework of evaluating a company’s resources and
competitive position.
64.
Identify five indicators of whether a company’s present strategy is working well.
65.
What is a resource-based strategy?
66.
Briefly discuss the meaning and significance of each of the following terms:
a. SWOT analysis
b. company value chain
c. industry value chain
d. weighted competitive strength assessment
e. benchmarking
67.
In conducting a SWOT analysis, is it enough to simply compile lists of the company’s
strengths, weaknesses, opportunities, and threats? Why or why not?
68.
Draw a typical company value chain, and briefly explain the difference between primary
activities and support activities.
69.
What is benchmarking and why is it a strategically important analytical tool?
70.
What benefits might management expect to gain from benchmarking the “best practices” of
those in other industries?
71.
Draw a typical value chain for an entire industry. Why are the activities performed by value
chain allies strategically relevant?
72.
What are the remedies for an internal cost disadvantage?
73.
Assume a firm is at a cost disadvantage with rivals because its internal costs are higher than
those of rivals. Identify several strategic moves that it can make to restore cost parity.
74.
Describe some ways that a company can improve (1) its supplier-related value chain activities
and (2) activities of its forward channel allies.
75.
Assume a firm is not cost competitive with rivals because of higher supplier-related costs.
Identify three strategic moves that it can make to restore cost parity.
76.
What are the three main approaches to rectify a weakness in a company’s customer value
proposition?
77.
Assume a firm is at a cost disadvantage with rivals because of higher distributor-dealer costs
than rivals. Identify two strategic moves that it can make to restore cost parity.
78.
Explain the benefits of preparing a competitive strength assessment.
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79.
In determining the various strategic issues that a company needs to address, managers need
to consider both the results of its analysis of the company’s external environment and the
results of its evaluation of the company’s competitive position, customer value proposition,
and cost structure. True or false? Explain and defend your answer.
80.
Why is it important for company managers to develop a “worry list” of strategic issues and
problems that they need to address and to resolve? What should they consider to develop this
list?