Question

Whole food sales

1) Through stores that employ a team-based management approach and that offer an appealing shopping environment / experience, Whole Foods can charge higher prices because they offer the highest quality natural and organic foods available with customer service superior to their competitors. This explanation is best described as Whole Foods' ______.

a) Business Enterprise

b) Business Ethics

c) Business Model

2) The VRIN tests for sustainable competitive advantage ask whether a resource is valuable, rare, inimitable and non substitutable. How strong would you assess the "rare" aspect of Whole Foods' product offerings?

a) Strong

b) Moderate

c) Weak

3) Which of the following would be considered examples of financial objectives? (Check all that apply).

a) Expand internationally

b) Increase sales by 10% within 12 months

c) Create brand differentiator

d) Capture 5% market share

4)  A mission statement describes where we want to go while a vision statement describes who we are and what we do now.

True

False

5) A strategic plan provides the following. (Check all that apply).

a) Strategic Vision

b) Mission

c) Objectives

Strategy

Answer 1

Whole food sales

1) Through stores that employ a team-based management approach and that offer an appealing shopping environment / experience, Whole Foods can charge higher prices because they offer the highest quality natural and organic foods available with customer service superior to their competitors. This explanation is best described as Whole Foods' ______.

c) Business Model

2) The VRIN tests for sustainable competitive advantage ask whether a resource is valuable, rare, inimitable and non substitutable. How strong would you assess the "rare" aspect of Whole Foods' product offerings?

b) Moderate

3) Which of the following would be considered examples of financial objectives? (Check all that apply).

b) Increase sales by 10% within 12 months

d) Capture 5% market share

4)  A mission statement describes where we want to go while a vision statement describes who we are and what we do now.

False. [It is the opposite; Vision describes where we want to go, mission describes who we are................]

5) A strategic plan provides the following. (Check all that apply).

a) Strategic Vision

b) Mission

c) Objectives

d) Strategy

All of the above.