Benchmarking provides low$-$cost providers such as Dollar General, Ryanair, TJX Companies, and Nucor Steel with

Multiple Choice

a company strategy.

proof of resource availability.

improvements to internal processes.

hard evidence of cost competitiveness.

verification of total cost ownership. For what two strategic reasons do Walmart and Target require their suppliers to meet a two$-$day shipping arrival window

Multiple Choice

$(1)$ increase their incentives to enhance delivered customer value and

$(2)$ maintain their exclusive arrangements with downstream sellers

$(1)$ enhance suppliers' cost disadvantages and

$(2)$ maintain supplier's just$-$in$-$time track records

$(1)$ engage them in cooperative advertising and promotions and

$(2)$ integrate suppliers into the design process

$(1)$ meet standards for downstream activities and

$(2)$ learn best business practices from channel partners

$(1)$ improve distribution center operating efficiency and

$(2)$ reduce costly unloading wait times for the shipper To build a competitive advantage by out$-$managing rivals in performing value chain activities, a company must

Multiple Choice

eliminate its resource weaknesses.

develop core competencies and maybe a distinctive competence that rivals don't have or can't quite match and that are instrumental in helping it deliver attractive value to customers.

position itself in the industry's more favorably situated strategic group.

outsource all of its value chain activities to world$-$class vendors and suppliers.

develop resource strengths that will enable it to pursue the industry's most attractive opportunities. Identifying the strategic issues a company faces and compiling a "worry list" of problems and roadblocks is an important component of company situation analysis because

Multiple Choice

these issues and obstacles must be cleared before management can focus clearly on what is the best strategy for the company to pursue.

without a precise fix on what problems$/$issues a company confronts, managers cannot know what the industry's key success factors are.

the worry list helps company managers clarify their thinking about how best to modify the company's value chain.

the worry list sets the management agenda for taking actions to improve the company's performance and business outlook.

without a precise fix on what problems$/$roadblocks a company confronts, managers are less clear about what value chain activities to benchmark. Calculating competitive strength ratings for a company and comparing them against strength ratings for its key competitors helps indicate

Multiple Choice

which competitors are likely to make money and which are likely to lose money in the years ahead.

what the industry's key success factors are.

which competitors are in profitable strategic groups and which competitors are in unprofitable strategic groups.

which competitors are employing offensive strategies and which competitors are employing defensive strategies.

which weaknesses and vulnerabilities of competitors the company might be able to attack successfully.