A firm's approach for creating value for consumers, which in turn creates profits for the firm
What is "strategy"
100
ROI, RI and EVA are examples of
What are measures of past/current performance (lagging indicators)
100
The "Five Forces" determine industry ___________
What is profitability?
100
This is a strategic performance management system that can measure how well a strategy is implemented
What is a balanced score card
100
These are the two types of business strategy
What are: cost leadership and product differentiation?
200
A term, other than strategy, that refers to a firm's approach for creating value for consumers
What is "value proposition"
200
Customer satisfaction, brand image, market share, and product return rate are examples of
What are drivers of long-term future performance (leading indicators)
200
This force relates to the ability to reduce the price a consumer is paying for a product
What is "bargaining power of customers"
200
EVA, ROI and RI are examples of this type of perspective
What is the financial perspective?
200
Focusing on staying ahead of the competition by continuously improving the efficiency of operations is an example of this strategy
What is cost leadership?
300
Walmart's great skill at inventory management and running a very efficient supply chain is an example of its
What are core competencies and capabilities?
300
These are two key questions in strategy implementation
1. Are we implementing the strategy well?
2. Is the strategy working as expected?
300
This force relates to the ability to charge higher prices for the inputs supplied
What is the bargaining power of suppliers?
300
Efficiency and effectiveness of critical business processes within the firm is an example of this perspective
What is the internal business perspective?
300
Staying ahead of competition by being quicker to develop and market the next generation of products is an example of this strategy
What is product differentiation?
400
Key skills and expertise that give the firm a competitive advantage relative to other firms
What are core competencies and capabilities
400
Not providing timely information for proactive corrections is a common criticism of
What is a standard financial measure?
400
The ability to take a train instead of an airplane is an example of this type of force
What is the threat from substitute products?
400
Employee training and time-to-market are examples of this type of perspective
What is the innovation and learning perspective?
400
Walmart is an example of a firm that pursues this type of business strategy
What is cost leadership?
500
To formulate a successful strategy, the firm should think about all of the following except for:
a. Core competencies and capabilities
b. Competitive landscape
c. Cost-benefit analysis
d. Sustainability
What is cost-benefit analysis
500
Firms often supplement financial measures with ________
What are non-financial measures
500
Which one of these is not one of the five forces:
1. Industry competitors
2. Threat of new entrants
3. Bargaining power of substitute products
4. Bargaining power of customers
What is bargaining power of substitute products
500
One of the following is not one of the perspectives on the balance scorecard:
a. Financial
b. Customer
c. Internal business
d. Entrepreneurship
What is Entrepreneurship?
500
Assuming that you chose a product differentiation strategy, it is important that you configure the ___________ of the firm in a way that supports your strategy