Most hadn’t … Which of the following is not option for lowering the costs of distribution-related activities? There is no such thing as a "best" competitive strategy; a company's "best" strategy is always one that is customized to fit both industry and competitive conditions and the company's own resources and competitive capabilities. "Who are we, what do we do, and why are we here? They have to have a notebook. creating a value chain that includes only those activities that deliver above-average value to customers. Options are just one tool in the compensation kit. Feasibility and Option Analysis in a project is a systematic assessment and evaluation of all possible alternative approaches available for achieving the project objectives to figure out which of the options appear to be most effective and providing the best solution for the project. Crafting and executing a company's strategy is an ongoing process that consists of five interrelated managerial tasks: describes the route a company intends to take in developing and strengthening its business, clearly conveys a company's long-term direction and says something definitive about what top executives want the company's product-market-customer-business makeup to be in three to five (or more) years, sets forth a company's future direction (where we are going), describes its present business scope and purpose (who we are, what we do, and why we are here), the beliefs, traits, and behavioral norms that company personnel are expected to display in conducting the company's business and pursuing its strategic vision and mission, an organization's performance targets-- the results and outcomes management wants to achieve. Exciting, right? It’s the most powerful and sought-after title in business, more exciting, rewarding, and influential than any other. Which of the following are key tasks in the strategy making, strategy-executing process? Which competitors are in the best strategic group in the industry? Five frequently used and dependable strategic approaches to setting a company apart from rivals, delivering superior value, achieving competitive advantage, and converting buyers into loyal customers are: 1. Why not? How a product is priced will directly affect how it sells. Question 8 < Previous Next > One option a company has for achieving competitive advantage is by out-managing rivals in Operforming certain differentiation-enhancing value chain activities mure proficiently than rivals, thus creating a differentiation-based competitive advantage … Which one of the following is not part of the task of identifying the strategy-related issues and problems that merit the front-burner attention of company managers? One common strategy for those who have already achieved FIRE is to live off of dividends. Once a company has decided to employ a particular generic competitive strategy, then it must make such additional strategic choices as ... C. Vertical integration reduces the opportunity for achieving greater product differentiation. Créez des visuels inspirants et engageants en quelques minutes, et apparaissez à côté d'eux quand vous les présentez. MrsTriplet. In a for-profit company, for which competition and profitability are important, your goals will differ from those of a nonprofit or government department. Enregistrez votre présentation pour la partager plus tard, ou passez en direct avec vos outils de vidéoconférences préférés. One strategy for achieving anything in life is to become an effective manager of your time. Chatbots emphasize the company… To reach that position, the company … What the CEO controls—the company’s biggest moves—accounts for 45 percent of a company’s performance. Obviously, stock is also quite effective. It’s vital that you have a strategy before going paperless in your small business. The company produces high tech fish processing equipment. with the work account I do not have the option … Capture the moment, and keep it in full resolution. actions to strengthen the company's competitive position by hiring one or more new top executives of laying off a portion of its work force or paying down its long-term debt, Changing circumstances and ongoing managerial efforts to improve the strategy, account for why a company's strategy evolves over time and why the task of crafting a company's strategy is a work in progress, not a one-time event, a blend of (1) proactive actions to improve the company's financial performance and secure a competitive edge and (2) as needed reactions to unanticipated developments and fresh market conditions, A company's strategy evolves from one version to the next because of, the proactive efforts of company managers to improve this or that aspect of the strategy, a need to respond to changing customer requirements and expectations, and a need to react to the fresh strategic maneuvers of rival firms, In choosing among strategy alternatives, company managers, are well-advised to embrace strategic actions that can pass the test of moral scrutiny--it is not enough to just stay within the bounds of what is legal and is in compliance with prevailing government regulations, The reputational and financial damage that unethical strategies and behavior can do to a company, is substantial; consequently, there are good business reasons for a company and its personnel to avoid unethical strategic actions and behaviors, The customer value proposition portion of a company's business model concerns, the company's approach to satisfying buyer needs and requirements at a price they will consider a good value, The two crucial elements of a company's business model are, its customer value proposition ( the company's approach to satisfying buyer needs and requirements at a price they will consider a good value) and its "profit formula" (its business approach to generating sufficiently large revenues and controlling the costs of its value proposition, such that the company will be appealingly profitable in delivering the intended value to customers), The difference between a company's strategy and a company's business model is that, its strategy is defined by the specific market positioning, competitive moves, and business approaches management employs to try to produce good business results while its business model relates to management's blueprint for delivering a valuable product or service to customers in a manner that will generate revenues sufficient to cover costs and yield an attractive profit, fits the company's internal and external situation, improves company performance, and helps achieve sustainable competitive advantage, Crafting and executing strategy are top-priority managerial tasks because, how well a company performs and the degree of market success it achieves are directly attributable to the caliber of its strategy and the proficiency with which the strategy is executed. Which of the following is not accurate as concerns who is involved in crafting a company's strategy? Once you have thought about “why” and “how,” it is important to implement metrics for tracking diversity across the company and to assess whether DEI efforts have been successful. EPS indicates how much money a company … Reduce production costs per unit by 10% within 12 months, A "balanced scorecard" that includes both strategic and financial performance targets is a conceptually strong approach for judging a company's overall performance because, financial performance measures are lagging indicators that reflect the results of past decisions and organizational activities whereas the best and most reliable leading indicators of a company's future financial performance and business prospects are strategic outcomes that indicate whether the company's market position and competitiveness are stronger or weaker, Strategic intent refers to a situation where a company, relentlessly pursues an ambitious strategic objective, concentrating that full force of its resources and competitive actions on achieving that objective. Having too few resources and capabilities that are well-matched to the company's available market opportunities, Two useful for determining whether a company's customer value proposition, prices, and costs are competitive are. Everyone, if they’re consistent, will eventually achieve something massive. Which of the following is not a frequently used and dependable strategic approach to setting a company apart from rivals, delivering superior value, achieving competitive advantage, and converting buyers into loyal customers? 1. & $508,000 (lump sum) six years from now The annual discount rate is 9%. Which of the following is NOT one of the options that companies have … A company has only one peerless role: chief executive officer. To execute this trade, they would have to buy GBP/USD and sell USD/JPY (earlier in this lesson, we … Which of the following is not generally a "driving force" capable of producing fundamental changes in industry and competitive conditions? 1. A value chain is how a company or organization adds value to a … As the meeting organizer, you get to decide who gets into your meetings directly, and who should wait for someone to let them in. What competitive forces do industry members face, and how strong are they? There are several different participant settings a meeting organizer can change. concerns the proficiency with which a company can perform an activity, when it gains the experience and know-how to perform an activity consistently well and at acceptable cost, an activity that a company performs quite well and that is also central to its strategy and competitiveness, a competitively important activity that a company performs better than its rivals, a group of resources and/or capabilities that, when linked and integrated into a functioning whole, has greater competitive value than the summed value of the individual components. The competitive power of a company resources of capability does not hinge on which one of the following? a simple but powerful tool for sizing up a company's competitively relevant strengths and weaknesses, its market opportunities, and the external threats to its future well-being, identifies the primary activities it performs that create customer value and the related support activities, a potent tool for learning which companies are best at performing particular activities and emulating their techniques to improve the cost and effectiveness of a company's own internal activities. How the combined costs of a company's internally performed activities, the activities performed by its suppliers, and the activities performed by its forward channel allies compare against the costs of the supplier-performed, internally-performed, and forward channel ally-performed value chain systems employed by rival firms. Determining what strategic actions to take and which strategic moves to make, specific market positioning, competitive moves, and business approaches that form management's answer to "What's our plan for running the company and producing good results?". The more that a company's operations cut across different products, industries, and geographical areas, the more that headquarters executives have little option to delegate considerable strategy-making authority to down-the-line managers in charge of particular subsidiaries, divisions, product lines, geographic sales offices, distribution centers, and plants, In a diversified or multi-business company, the strategy-making hierarchy (as shown in Figure 2-2) consists of, corporate strategy, a business strategy for each business the company has diversified into, and functional and operating strategies within each business, Business strategy, as distinct from corporate strategy, concerns, the actions and approaches being employed to produce successful performance in one specific line of business, a vision of where it is headed, a set of performance targets, and a strategy to achieve them, One of the five tasks of the strategy-making, strategy-executing process (Figure 2.1) is for company managers to, monitor new external development, evaluate the company's progress, and make corrective adjustments in order to decide whether to continue or change the company's strategic vision and mission objectives strategy and/or strategy execution methods, the relatively narrow strategic initiatives and approaches for managing key operating units (plants, distribution centers, geographic units) and specific operating activities (quality control, advertising, brand-building efforts, supply chain-related activities, and website sales and operations, The primary roles/ obligations of a company's board of directors in the strategy-making, strategy-executing process include, critically appraising the company's direction, strategy, and business approaches and evaluating the caliber of senior executives' strategy-making and strategy-executing skills, general economic conditions; political, legal, and regulatory influences; technological influences; socialcultural forces (societal values, lifestyles, and shifting population demographics); considerations relating to the natural environment; and, closer to home, the industry and competitive arena in which the company operates--as shown in Figure 3.2. Compute the present value of the first option. More than one metric makes up a comprehensive and accurate CSAT score. Which one of the following statements is false when it comes to using value chain analysis to determine a company's cost competitiveness? Whether the resource or capability represents a technological asset or a marketing asset. 1. Simply pick one or two ways to go paperless, put them … Earnings per share (EPS) is a company's net profit divided by the number of common shares it has outstanding. D. Meaningfully lower overall costs than competitors. Its a new year and with it comes the proverbial clean slate new goals, new opportunities. 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