Need to understand the reason behind each questions. Please explain.
1. Which types of strategies are used to implement the growth and competitive strategies of the firm?
a. Focus strategies
b. Generic strategies
c. Functional strategies
d. Corporate Strategies
2. A specialty store that caters to the needs of teenagers by offering designer clothing in a trendy atmosphere is most likely pursuing which types of strategy?
a. Differentiation advantage
b. Learning curve advantage
c. Cost advantage
d. Differentiation combined with cost leadership
3. Direction setting is a major corporate-level strategic management responsibility.
4. When are economies of scales most important?
a. When there are more than 100 employees in a firm
b. When the minimum efficient scale to produce the product is large compared to the size of the market
c. When combing dissimilar businesses under common ownership
d. When there is proprietary technology
5. When is variety-based positioning most effective?
a. When a company has distinct capabilities that allow it to perform a subset of activities better than it competitors
b. When different groups or segments of consumers have different needs
c. When a company distributes their produce in only select locations
d. When the company offers multiple services
6. What types of positioning does Travel and Leisure magazine use?
a. Access positioning
b. Market positing
c. Variety-based positioning
d. Straddle positioning
7. What must be true for a competitive advantage to survive over time?
a. It must be scarce
b. It must be imperfectly mobile
c. It most persist despite efforts by competitors to duplicate it
d. All of the above
8. Which of the following is not a barrier to limitation?
b. Economics of scales
c. Long-term purchase agreements
d. Superior design
9. How would you describe Dell computer's competitive strategy?
a. Differentiations of the basis of service to customers
b. Differentiations of the basis of its computer offerings
c. Cost advantage on the basis of the volume of computers it manufactures
d. Cost advantage on the basis of its logistic systems
10. In the courses scenario, which of the following is not a competitive advantage for Hercules Cards?
a. Brand recognition
b. Economies of scales
c. Strong distribution channel
d. High-quality product
The solution explains some multiple choice questions relating to strategic management