Which of the following is not one of the five basic strategic approaches for building a competitive advantage?

3. Which one of the following is not among the chief duties/responsibilities of a company's board of directors insofar as the strategy-making, strategy-executing process is concerned?

a) evaluating the caliber of senior executives' strategy-making/strategy-executing skills
b) directing senior executives as to what the company's long-term direction, objectives, business model, and strategy should be, and, further, closely supervising senior executives in their efforts to implement and execute the strategy
c) being inquiring critics and exercising strong oversight over the company's direction, strategy, and business approaches
d) overseeing the company's financial accounting and financial reporting practices
e) instituting a compensation plan for top executives that rewards them for actions and results that serve stakeholders' interests, most especially those of shareholders

4. In a company's broader macro-environment, which of the following have strategic significance?

a) the strength of competitive pressures from producers of substitute products and which competitors are in which strategic groups
b) the extent and importance of seller-supplier collaborative partnerships, the extent and importance of seller-buyer collaborative partnerships, and the bargaining leverage of sellers and buyers
c) market size and growth rate, the number of buyers, the scope of competitive rivalry, the number of rivals, demand-supply conditions, product innovation, the presence of scale economies and/or learning or experience curve effects, and the pace of technological change
d) the threat of additional entry into the industry and what the industry's key success factors are
e) general economic conditions, societal values and cultural norms, political and legal/regulatory factors, technological factors, and ecological considerations

6. Which of the following is not a relevant factor in conducting a PESTEL analysis?

a) cultural, lifestyle, and demographic changes
b) how frequently sellers alter their prices, how sensitive buyers are to price differences among sellers, whether an item being purchased is a good or a service, and whether buyers purchase frequently or infrequently
c) weather, climate change, and water shortages
d) interest rates, exchange rates, unemployment rates, inflation rates, and economic growth
e) the birth of new industries, new knowledge, and disruptive technologies

4. Which of the following analytical tools are particularly useful for determining whether a company's prices and costs are competitive?

a) SWOT analysis, strategy assessment, activity-based costing analysis, and key success factor analysis
b) competitive position assessment, competitive strength assessment, strategic group mapping, SWOT analysis, and value chain analysis
c) SWOT analysis, competitive strength assessment, best practices analysis, and value chain analysis
d) value chain analysis and benchmarking
e) SWOT analysis, best practices analysis, activity-based costing analysis, and competitive strength assessment

What are the five strategic approaches?

What are the five broad strategy approaches types used by companies to gain a competitive advantage?

Which one is not a competitive advantage quizlet?

What are the five most frequently used strategic approaches that sets a firm apart from its rivals which one is the most important why?