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Quiz sobre CHAPTER - 1, criado por Strategy IO em 27-12-2016.

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CHAPTER - 1

Questão 1 de 50

1

A firm's _____ is defined as its theory about how to gain competitive advantages.

Selecione uma das seguintes:

  • objective

  • mission

  • vision

  • strategy

Explicação

Questão 2 de 50

1

A sequential set of analyses and choices that can increase the likelihood that a firm will choose a strategy that generates competitive advantages is the

Selecione uma das seguintes:

  • organizational change process

  • strategic management process.

  • mission statement process.

  • goal setting process

Explicação

Questão 3 de 50

1

A firm's ________ is its long-term purpose that defines both what it aspires to be in the long run and what it wants to avoid in the meantime

Selecione uma das seguintes:

  • mission

  • strategy

  • objective

  • goal

Explicação

Questão 4 de 50

1

The strategic management process begins when a firm

Selecione uma das seguintes:

  • determines its objectives

  • defines its mission.

  • makes a strategic choice.

  • implements its strategy

Explicação

Questão 5 de 50

1

Firms whose mission is central to all they do are known as ________ firms.

Selecione uma das seguintes:

  • missionary

  • emergent

  • parity

  • visionary

Explicação

Questão 6 de 50

1

From 1926 to 1995, visionary firms earned ________ returns compared to firms that were not visionary firms

Selecione uma das seguintes:

  • substantially lower

  • substantially higher

  • marginally lower

  • equivalent

Explicação

Questão 7 de 50

1

The mission statements of visionary firms

Selecione uma das seguintes:

  • suggest that profit maximizing, while an important corporate objective, is not their primary reason for existence

  • suggest that profit maximizing is neither an important corporate objective nor their primary reason for existence

  • suggest that profit maximizing is their primary reason for existence.

  • suggest that value maximizing is their primary reason of existence.

Explicação

Questão 8 de 50

1

Which of the following statements regarding firm mission is accurate

Selecione uma das seguintes:

  • While some firms have used their missions to develop strategies that create significant competitive advantages, firm missions can hurt a firm's performance as well

  • Virtually all firms have used missions to develop strategies that create significant competitive advantages, while very few firms have used missions that can hurt their performance

  • It is very rare for firms to be able to use their missions to develop strategies that create significant competitive advantages, and most firm missions actually hurt their performance

  • Missions tend to have very little impact on a firm's ability to create significant competitive advantages

Explicação

Questão 9 de 50

1

________ are specific measurable targets a firm can use to evaluate the extent to which it is realizing its mission

Selecione uma das seguintes:

  • Strategies

  • Missions

  • Competitive advantages

  • Objectives

Explicação

Questão 10 de 50

1

High quality objectives are those that are

Selecione uma das seguintes:

  • tightly connected to elements of a firm's mission and are relatively easy to measure and track over time.

  • difficult to measure and track over time.

  • non-existent.

  • not quantitative.

Explicação

Questão 11 de 50

1

By conducting a(n) ________, a firm identifies the critical threats and opportunities in its competitive environment.

Selecione uma das seguintes:

  • internal analysis

  • competitive analysis

  • external analysis

  • strategic choice

Explicação

Questão 12 de 50

1

________ helps a firm understand which of its resources and capabilities are likely to be sources of competitive advantage.

Selecione uma das seguintes:

  • Competitive analysis

  • Internal analysis

  • Strategic choice

  • External analysis

Explicação

Questão 13 de 50

1

Actions firms take to gain competitive advantages in a single market or industry are known as

Selecione uma das seguintes:

  • business level strategies.

  • corporate level strategies.

  • diversification strategies.

  • strategy implementation.

Explicação

Questão 14 de 50

1

Actions firms take to gain competitive advantages by operating in multiple markets or industries simultaneously are known as

Selecione uma das seguintes:

  • corporate level strategies.

  • diversification strategies.

  • business level strategies.

  • strategic alliance strategies.

Explicação

Questão 15 de 50

1

________ occurs when a firm adopts organizational policies and practices that are consistent with its strategy.

Selecione uma das seguintes:

  • Strategy formulation

  • Strategic choice

  • Strategy implementation

  • Strategic control

Explicação

Questão 16 de 50

1

When a firm is able to create more economic value than rival firms it is said to have a(n)

Selecione uma das seguintes:

  • comparative advantage

  • competitive advantage

  • residual advantage.

  • economic advantage.

Explicação

Questão 17 de 50

1

The difference between the perceived benefits gained by a customer who purchases a firm's products or services and the full economic cost of these products or services is the

Selecione uma das seguintes:

  • value proposition.

  • cost advantage.

  • economic value.

  • competitive advantage.

Explicação

Questão 18 de 50

1

If TechnoGeek and VarsityBlue compete in the same market for the same customer and TechnoGeek generates $900 of economic value each time it sells a product or service while VarsityBlue generates $400 of economic value each time it sells a product or service, TechnoGeek has a(n) ________ of $500.

Selecione uma das seguintes:

  • perceived benefit

  • economic value

  • cost advantage

  • competitive advantage

Explicação

Questão 19 de 50

1

A competitive advantage that lasts a very short period of time is known as a ________ competitive advantage.

Selecione uma das seguintes:

  • temporary

  • sustained

  • transient

  • perpetual

Explicação

Questão 20 de 50

1

The center of Osterwalder and Pigneur's business model canvas is the

Selecione uma das seguintes:

  • parity point.

  • value proposition.

  • competitive advantage.

  • strategy box.

Explicação

Questão 21 de 50

1

Firms that generate less economic value than their rivals experience a competitive

Selecione uma das seguintes:

  • advantage

  • parity

  • disadvantage

  • perceived benefit

Explicação

Questão 22 de 50

1

In many ways, the difference between traditional economics research and strategic management research is that the former attempts to explain why ________, while the latter attempts to explain ________.

Selecione uma das seguintes:

  • competitive advantages should not persist; when they can

  • competitive advantages should persist; when they can

  • competitive advantages should persist; why they should not

  • competitive parity should not persist; why they should

Explicação

Questão 23 de 50

1

The two types of measures of competitive advantage include

Selecione uma das seguintes:

  • accounting measures and strategic measures.

  • strategic measures and economic measures.

  • accounting measures and economic measures.

  • qualitative measures and quantitative measures.

Explicação

Questão 24 de 50

1

A firm's ________ is a measure of its competitive advantage calculated using information from a firm's published profit and loss and balance sheet statements.

Selecione uma das seguintes:

  • economic performance

  • accounting performance

  • strategic performance

  • sustainable performance

Explicação

Questão 25 de 50

1

________ are ratios with some measure of profit in the numerator and some measure of firms' size or assets in the denominator.

Selecione uma das seguintes:

  • Liquidity ratios

  • Leverage ratios

  • Activity ratios

  • Profitability ratios

Explicação

Questão 26 de 50

1

Ratios that focus on the level of a firm's financial flexibility, including its ability to obtain more debt, are known as

Selecione uma das seguintes:

  • leverage ratios.

  • liquidity ratios.

  • activity ratios.

  • profitability ratios.

Explicação

Questão 27 de 50

1

Using ratio analysis, a firm earns ________ when its performance is greater than the industry average.

Selecione uma das seguintes:

  • above average economic performance

  • below average accounting performance

  • above average accounting performance

  • below average economic performance

Explicação

Questão 28 de 50

1

The ________ is the rate of return that a firm promises to pay its suppliers of capital to induce them to invest in the firm.

Selecione uma das seguintes:

  • cost of debt

  • cost of advantage

  • cost of parity

  • cost of capital

Explicação

Questão 29 de 50

1

________ measures of competitive advantage compare a firm's level of return to its cost of capital instead of to the average level of return in the industry.

Selecione uma das seguintes:

  • Economic

  • Accounting

  • Strategic

  • Sustainable

Explicação

Questão 30 de 50

1

The percentage of a firm's total capital that is debt times the cost of debt plus the percentage of a firm's total capital; or equity times the cost of equity is the

Selecione uma das seguintes:

  • weighted cost of capital.

  • weighted average cost of capital.

  • cost of capital.

  • average cost of capital.

Explicação

Questão 31 de 50

1

A firm that is able to attract additional capital because debt holders and equity holders will scramble to make additional funds available for it is likely earning

Selecione uma das seguintes:

  • normal economic performance.

  • average accounting performance.

  • temporary advantage.

  • above normal economic performance.

Explicação

Questão 32 de 50

1

An important limitation of comparing a firm's performance to its cost of capital occurs when a firm is

Selecione uma das seguintes:

  • privately held.

  • an IPO.

  • an entrepreneurial venture.

  • experiencing below normal economic performance.

Explicação

Questão 33 de 50

1

A firm that earns its cost of capital is said to be earning

Selecione uma das seguintes:

  • above normal economic performance.

  • normal economic performance.

  • below normal economic performance.

  • normal accounting performance.

Explicação

Questão 34 de 50

1

The view that equity holders only receive payment on their investment in a firm after all legitimate claims by a firm's other stakeholders are satisfied is known as the ________ view of equity holders.

Selecione uma das seguintes:

  • stakeholder

  • residual claimants

  • legitimate claimants

  • extraordinary claims

Explicação

Questão 35 de 50

1

Theories of how to gain competitive advantage in an industry that emerge over time or that have been radically reshaped once they are initially implemented are known as

Selecione uma das seguintes:

  • emergent strategies.

  • objective strategies.

  • planned strategies.

  • ad hoc strategies.

Explicação

Questão 36 de 50

1

The realized strategy of most firms tends to be

Selecione uma das seguintes:

  • almost exclusively a reflection of their intended strategy.

  • almost exclusively a reflection of their emergent strategy.

  • a combination of both intended and emergent strategies.

  • reflective of neither the firms' intended nor emergent strategy.

Explicação

Questão 37 de 50

1

Which of the following is a reason why it is important for students to study strategy and the strategic management process?

Selecione uma das seguintes:

  • Studying strategy and the strategic management process can give students tools to evaluate the strategies of firms that may employ them.

  • It can be very important to a new hire's career success to understand the strategies of the firm that hired them and their place in implementing these strategies.

  • While strategic choices are generally limited to very experienced senior managers in large organizations, in smaller and entrepreneurial firms many employees end up being involved in the strategic management process.

  • All of the above

Explicação

Questão 38 de 50

1

Fed Ex entered their market with a well-defined mission and objectives, making strategic choices and implementing those strategies. This is an example of which type of strategy?

Selecione uma das seguintes:

  • intended

  • economic

  • emergent

  • visionary

Explicação

Questão 39 de 50

1

Which type of ratios focus on the ability of a firm to meet its short-term financial obligations?

Selecione uma das seguintes:

  • activity ratios

  • liquidity ratios

  • leverageratios

  • profitability ratios

Explicação

Questão 40 de 50

1

One of the first scholars to examine the longevity of competitive advantage was

Selecione uma das seguintes:

  • Dennis Mueller.

  • Geoffrey Waring.

  • Peter Roberts.

  • Rich Houston.

Explicação

Questão 41 de 50

1

Which ratio signals a greater risk of bankruptcy as it increases?

Selecione uma das seguintes:

  • debt to equity

  • quick ratio

  • debt to assets

  • cash flow per share

Explicação

Questão 42 de 50

1

Accounts receivable turnover is an example of which type of ratio?

Selecione uma das seguintes:

  • profitability

  • activity

  • liquidity

  • leverage

Explicação

Questão 43 de 50

1

Thermacorp's weighted average cost of capital is 13.5. If the average WACC in the heating and cooling industry is 19, Thermacorp can be said to be earning

Selecione uma das seguintes:

  • above normal economic performance.

  • above normal accounting performance.

  • below normal economic performance.

  • below normal accounting performance.

Explicação

Questão 44 de 50

1

Thermacorp's 17.3% ROE is an example of a(n) ________ ratio.

Selecione uma das seguintes:

  • liquidity

  • profitability

  • activity

  • leverage

Explicação

Questão 45 de 50

1

If the average ROE in the heating and cooling industry is 10.1%, and Thermacorp's ROE is 17.3%, Thermacorp is said to have

Selecione uma das seguintes:

  • below average accounting performance.

  • above average economic performance.

  • above average accounting performance.

  • below average economic performance.

Explicação

Questão 46 de 50

1

Green Frog is an environmentally friendly firm in the cosmetics industry that has decided to undertake a strategic planning project. It wants to ensure that it performs the process correctly and so intends to start the process with the first step of the strategic planning process, which is

Selecione uma das seguintes:

  • defining its mission.

  • setting objectives.

  • measuring performance.

  • defining its business level strategy.

Explicação

Questão 47 de 50

1

Green Frog is an environmentally friendly firm in the cosmetics industry. Even though Green Frog is environmentally friendly, the strategic planning team had decided that financial performance is one of the company's top priorities. Which of the following is the best example of an objective the company might use to help it achieve its goal of superior financial performance?

Selecione uma das seguintes:

  • increasing profitability

  • growing market share annually

  • improving product quality every quarter

  • growth in earnings per share averaging 15% or better annually for the next five years

Explicação

Questão 48 de 50

1

Green Frog is an environmentally friendly firm in the cosmetics industry. If during the strategic planning process Green Frog tried to determine the critical threats and opportunities in its competitive environment, it would be performing a(n)

Selecione uma das seguintes:

  • internal analysis.

  • external analysis.

  • WACC analysis.

  • economic analysis.

Explicação

Questão 49 de 50

1

Green Frog is an environmentally friendly firm in the cosmetics industry. If Green Frog undertook an analysis to help it understand which of its resources and capabilities are likely to be sources of competitive advantage and which are less likely to sources of such advantages it would be performing a(n)

Selecione uma das seguintes:

  • internal analysis.

  • external analysis.

  • WACC analysis

  • economic analysis

Explicação

Questão 50 de 50

1

Green Frog is an environmentally friendly firm in the cosmetics industry. If Green Frog were considering expanding beyond the cosmetics industry into pharmaceuticals in order to gain competitive advantages by operating in multiple markets and industries, this would be an example of which type of strategy?

Selecione uma das seguintes:

  • business level strategy

  • cost leadership strategy

  • product differentiation strategy

  • corporate level strategy

Explicação