Which of the following statements is true of business strategy?

Superior performance allows a company to benefit society by implementing which of the following strategies?

A(n)________ is best described as the strategic option that top managers decide most closely matches the current reality and which is then executed.

Great Sound Inc. is a publicly traded company that specializes in manufacturing consumer electronics. Which of the following best exemplifies the implementation of a shared value creation framework at Great Sound Inc.?

Underperformance relative to other firms in the same industry or the industry average results in a(n)________ for a firm.

Southwest Airlines (SWA) has enjoyed a sustained competitive advantage, allowing it to outperform its competitors over several decades. Continental and Delta attempted to copy SWA with their offerings of Continental Lite and Song airlines, respectively. Neither Continental nor Delta, however, was able to successfully imitate the resource bundles and firm capabilities that make SWA unique. Which of the following is this case an example of?

Under the________ framework, producer surplus is important in the quest for competitive advantage because this is the profit that a firm captures when producing and selling a good or service.

According to AFI strategy framework, in which of the following tasks of strategic management does a firm identify the roles strategic leaders play?

Golden Age Cinemas Inc. and HiDef Inc. are two companies that own and run movie theaters in malls and other commercial areas. Both are trying to coax consumers back into movie theaters after the COVID-19 pandemic shutdowns. While Golden Age Cinemas Inc. pursues a cost-leadership strategy, HiDef Inc. adopts a differentiation strategy. Which of the following statements is most likely true of this scenario?

In________, a firm frames a guiding policy to address the competitive challenge.