Test Bank For Theory of Strategic Management International Edition 10th Edition by Gareth Jones

Test Banks are very effective resources for students who are using the International Edition 10th Edition by Gareth Jones and are preparing for the Theory of Strategic Management course. This is so because the test bank contains answers and questions from all areas of the textbook including revision questions. Check out these benefits that have been listed for your consideration:

Conceptual Development and Evaluation

The test bank facilitates you in reinforcing the understanding of concepts such as competitive advantage, value chain, strategic leadership, and others. You have to answer questions posed in the test bank to better understand the application of those concepts. At times, the questions can be based on your understanding and application of the material studied in the course say for example the analysis of a case study, opportunities, and challenges. All these topics fall under the broader field of strategic management.

Enhancing Performance in the Examinations

Using the test bank allows one the opportunity to practice in a time-controlled environment which allows one to use questions similar to those that they expect in the examination. The test bank of the course on the Theory of Strategic management poses true-false and multiple-choice Questions as well as questions that require short answers and form case study questions. Such gaps allow you to perform several examinations under pressure and enhance your accuracy in answering questions as well as the speed at which you respond.

Expand Your Horizons With Various Themes

The Test Bank Integrates all major topics such as these:

• Strategic leadership: Understand how to handle the strategy-making process appropriately.
• Establishing competitive advantage: Know the place of efficiency, quality, and innovation in fostering management to be on the top of competitors.
• Value chains: See why firms create value and what the value chain model played in the formulation of strategies.
• Product differentiation: Grasp how and why firms devise aspects of products to be in the competitive marketplace.

Advantageous Factors of a Test Bank for Strategic Management

All major topics are present in every chapter of the textbook so that there are no critical ideas that are forgotten.

• Increased Knowledge: Not only will you learn how to remember facts, but you will also be able to understand how to implement those facts in strategic management.
• Increase Trust: When you use the Test Bank for several exercises, you can develop a sense of confidence when it comes to answering questions in exams.

Easy and Simple

Since the Test Bank can be offered as an online document or PDF document, you can utilize it whenever and wherever it works best for you. It’s easy to suction it in your learning cycle whether you are tackling some questions or revisiting some answers.

Conclusion

To sum up, I would like to point out that in this publication, students can recognize the usefulness of the Test Bank for Theory of Strategic Management International Edition 10th Edition by Gareth Jones. It offers an extensive means of assessment, and practicing with it can help to enhance one’s performance during their exams.

Test Bank For Theory of Strategic Management International Edition 10th Edition by Gareth Jones

Chapter 3—Internal Analysis: Distinctive Competencies, Competitive Advantage, and Profitability

TRUE/FALSE

1. Internal analysis is concerned with identifying a company’s opportunities and weaknesses.

ANS:FPTS:1DIF:Easy

OBJ: 1 – Discuss the source of competitive advantage NAT: AACSB Analytic | Strategy

KEY: Knowledge

2. Together with an analysis of the company’s external environment, internal analysis gives managers the information they need to choose the business model and strategies that will enable their company to attain a sustained competitive advantage.

ANS:TPTS:1DIF:Easy

OBJ: 1 – Discuss the source of competitive advantage NAT: AACSB Analytic | Strategy

KEY: Knowledge

3. If a company’s profitability is higher than the industry average, it has a competitive advantage.

ANS:TPTS:1DIF:Easy

OBJ: 1 – Discuss the source of competitive advantage NAT: AACSB Analytic | Strategy

KEY: Knowledge

4. Distinctive competencies are firm-specific strengths that allow a company to differentiate its products and/or achieve substantially lower costs than its rivals.

ANS:TPTS:1DIF:Moderate

OBJ: 1 – Discuss the source of competitive advantage NAT: AACSB Analytic | Strategy

KEY: Knowledge

5. Toyota’s lean production system is the basis of its competitive advantage.

ANS:TPTS:1DIF:Difficult

OBJ:1 – Discuss the source of competitive advantage

NAT: AACSB Reflective Thinking | Strategy KEY: Application

6. All resources are tangible; there is no such thing as intangible resources.

ANS:FPTS:1DIF:Easy

OBJ: 1 – Discuss the source of competitive advantage NAT: AACSB Analytic | Strategy

KEY: Knowledge

7. The more a resource is firm-specific and difficult to imitate, the more likely a company holding that resource is said to have a distinctive competency.

ANS:TPTS:1DIF:Moderate

OBJ: 1 – Discuss the source of competitive advantage NAT: AACSB Analytic | Strategy

KEY: Comprehension

8. According to Rose Marie Bravo of Burberry, creative ideas may come from several sources, but not from the accounting department, for good reasons.

ANS:FPTS:1DIF:Moderate

OBJ: 1 – Discuss the source of competitive advantage NAT: AACSB Analytic | Strategy

KEY: Knowledge

9. The price a company charges for a good or service is typically more than the utility placed on that good or service by the customer.

ANS:FPTS:1DIF:Moderate

OBJ:1 – Discuss the source of competitive advantage

NAT: AACSB Analytic | Creation of Value KEY: Comprehension

10. The more utility a company creates for its customers, the more flexibility it has in determining prices.

ANS:TPTS:1DIF:Moderate

OBJ:1 – Discuss the source of competitive advantage

NAT: AACSB Analytic | Creation of Value KEY: Comprehension

11. At the heart of any company’s business model is the combination of congruent strategies aimed at creating distinctive competencies that differentiate its products and result in a lower cost structure.

ANS:TPTS:1DIF:Moderate

OBJ: 1 – Discuss the source of competitive advantage NAT: AACSB Analytic | Strategy

TOP: Knowledge

12. When a company has differentiated products, they have fewer pricing options.

ANS:FPTS:1DIF:Moderate

OBJ: 1 – Discuss the source of competitive advantage NAT: AACSB Analytic | Strategy

KEY: Comprehension

13. A value chain is a sequence of activities for transforming inputs into outputs that are valued by customers.

ANS:TPTS:1DIF:Easy

OBJ:3 – Explain the concept of the value chain

NAT: AACSB Analytic | Creation of Value KEY: Knowledge

14. At Adam’s bicycle repair shop, the primary value chain activity of production occurs each time a customer’s bicycle is repaired.

ANS:TPTS:1DIF:Moderate

OBJ:3 – Explain the concept of the value chain

NAT: AACSB Reflective Thinking | Creation of Value KEY: Application

15. Walmart pursues a low-cost operator policy.

ANS:TPTS:1DIF:Moderate

OBJ:3 – Explain the concept of the value chain

NAT: AACSB Reflective Thinking | Creation of Value KEY: Application