Question 1

When few, if any, competitors can perform a value chain activity with the same level of quality, then that competence is said to be

Accepted Answer

A)  nonsubstitutable 
B)  valuable 
C)  rare 
D)  a competitive advantage 
A)  nonsubstitutable 
B)  valuable 
C)  rare 
D)  a competitive advantage

Question 2

Effective management of a company's value chain requires that approximately half of the value chain activities create value for customers, either directly or indirectly.

Accepted Answer

A) True 
 B)False

Question 3

It is easier to evaluate a firm's tangible resources than its intangible resources.

Accepted Answer

A) True 
 B)False

Question 4

When a local firm acquires a capability from an external supplier that contributes to the local firm's ability to create value for customers it is

Accepted Answer

A)  outsourcing. 
B)  losing competitive advantage. 
C)  insourcing. 
D)  showing weakness. 
A)  outsourcing. 
B)  losing competitive advantage. 
C)  insourcing. 
D)  showing weakness.

Question 5

Discuss the relationships among resources, capabilities, core competencies, competitive advantage and firm performance.

Accepted Answer

Resources, capabilities, core competenci

Question 6

Human resource management, as well as research and development are typically used to create indirect value for customers, consequently they are known as

Accepted Answer

A)  support activities 
B)  tangible activities 
C)  primary activities 
D)  intangible activities 
A)  support activities 
B)  tangible activities 
C)  primary activities 
D)  intangible activities

Question 7

The value chain consists of the structure of activities that a firm uses to successfully integrate acquisitions into their resource portfolio.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is the BEST example of a firm's investment in a "real option?"

Accepted Answer

A)  Amazon purchases a vacant building and uses it for a new distribution warehouse. 
B)  Coca-Cola continuously invests in marketing in order to strengthen its global brand image 
C)  A pharmaceutical company develops a variety of drugs in the hope that one of them might become a "blockbuster" that cures a life-threatening illness 
D)  All of these are good examples of real options 
A)  Amazon purchases a vacant building and uses it for a new distribution warehouse. 
B)  Coca-Cola continuously invests in marketing in order to strengthen its global brand image 
C)  A pharmaceutical company develops a variety of drugs in the hope that one of them might become a "blockbuster" that cures a life-threatening illness 
D)  All of these are good examples of real options

Question 9

When a company's core competencies are different from those held by competitors, those competencies are referred to as

Accepted Answer

A)  distinctive competencies 
B)  competitive advantages 
C)  intangible competencies 
D)  nonsubstitutable competencies 
A)  distinctive competencies 
B)  competitive advantages 
C)  intangible competencies 
D)  nonsubstitutable competencies

Question 10

In order to build a competitive advantage, a firm must

Accepted Answer

A)  integrate its resources to form capabilities 
B)  develop competencies that are distinctive and rare 
C)  create value for its customers 
D)  all of these are required for a competitive advantage 
A)  integrate its resources to form capabilities 
B)  develop competencies that are distinctive and rare 
C)  create value for its customers 
D)  all of these are required for a competitive advantage

Question 11

Companies can use benchmarking to identify better ways to complete value chain activities that create value for customers.

Accepted Answer

A) True 
 B)False

Question 12

Describe the value chain and explain how a company might use value chain analysis to support decisions about outsourcing.

Accepted Answer

The "value chain" refers to the structur

Question 13

When a company purchases an asset or resource, such as land, with the intention of holding onto it and using it for future expansion, the company has purchased an "intangible option."

Accepted Answer

A) True 
 B)False

Question 14

It is usually quite easy for managers to identify their company's strengths and weaknesses.

Accepted Answer

A) True 
 B)False

Question 15

The true value of a firm's resources emerges when they are integrated to form capabilities.

Accepted Answer

A) True 
 B)False

Question 16

The text mentions that FedEx studied the activities and best practices of transportation companies in order to develop its over-night delivery business. In this example, FedEx used

Accepted Answer

A)  benchmarking 
B)  outsourcing 
C)  diversification 
D)  an acquisition 
A)  benchmarking 
B)  outsourcing 
C)  diversification 
D)  an acquisition

Question 17

When a firm is unable to complete a value chain activity in an efficient manner, that activity becomes a prime candidate for outsourcing to another firm that can perform the activity more efficiently.

Accepted Answer

A) True 
 B)False

Question 18

In order to be successful, a company must create value that

Accepted Answer

A)  exceeds the costs incurred to produce, distribute and service products for customers. 
B)  is unique and inexpensive. 
C)  is hard to imitate and more expensive than what is offered by other firms. 
D)  surpasses benchmarking targets. 
A)  exceeds the costs incurred to produce, distribute and service products for customers. 
B)  is unique and inexpensive. 
C)  is hard to imitate and more expensive than what is offered by other firms. 
D)  surpasses benchmarking targets.

Question 19

Which of the following resources are the most difficult to identify and evaluate?

Accepted Answer

A)  tangible resources 
B)  physical resources 
C)  intangible resources 
D)  financial resources 
A)  tangible resources 
B)  physical resources 
C)  intangible resources 
D)  financial resources

Question 20

Which of the following IS NOT a reason firms outsource the performance of an activity to an external supplier?

Accepted Answer

A)  This may create more value for customers. 
B)  They can concentrate their own resources on their own core competencies. 
C)  They will have the flexibility to more rapidly alter how activities are being used to implement its strategies. 
D)  They will necessarily develop relationships with more firms thereby increasing their human capital. 
A)  This may create more value for customers. 
B)  They can concentrate their own resources on their own core competencies. 
C)  They will have the flexibility to more rapidly alter how activities are being used to implement its strategies. 
D)  They will necessarily develop relationships with more firms thereby increasing their human capital.

When few, if any, competitors can perform a value chain activity with the same level of quality, then that competence is said to be

Effective management of a company's value chain requires that approximately half of the value chain activities create value for customers, either directly or indirectly.

It is easier to evaluate a firm's tangible resources than its intangible resources.

When a local firm acquires a capability from an external supplier that contributes to the local firm's ability to create value for customers it is

Discuss the relationships among resources, capabilities, core competencies, competitive advantage and firm performance.

Human resource management, as well as research and development are typically used to create indirect value for customers, consequently they are known as

The value chain consists of the structure of activities that a firm uses to successfully integrate acquisitions into their resource portfolio.

Which of the following is the BEST example of a firm's investment in a "real option?"

When a company's core competencies are different from those held by competitors, those competencies are referred to as

In order to build a competitive advantage, a firm must

Companies can use benchmarking to identify better ways to complete value chain activities that create value for customers.

Describe the value chain and explain how a company might use value chain analysis to support decisions about outsourcing.

When a company purchases an asset or resource, such as land, with the intention of holding onto it and using it for future expansion, the company has purchased an "intangible option."

It is usually quite easy for managers to identify their company's strengths and weaknesses.

The true value of a firm's resources emerges when they are integrated to form capabilities.

The text mentions that FedEx studied the activities and best practices of transportation companies in order to develop its over-night delivery business. In this example, FedEx used

When a firm is unable to complete a value chain activity in an efficient manner, that activity becomes a prime candidate for outsourcing to another firm that can perform the activity more efficiently.

In order to be successful, a company must create value that

Which of the following resources are the most difficult to identify and evaluate?

Which of the following IS NOT a reason firms outsource the performance of an activity to an external supplier?

The Foundations of Strategic Management

Leading Strategically

Analyzing the External Environment

Business-Level Strategy

Multiproduct Strategies

Acquiring and Integrating Businesses

Competing Across Borders

Creating and Maintaining Alliances

Innovating Through Strategic Entrepreneurship

Filters

Exam 4: Analyzing the Firm

When few, if any, competitors can perform a value chain activity with the same level of quality, then that competence is said to be

Effective management of a company's value chain requires that approximately half of the value chain activities create value for customers, either directly or indirectly.

It is easier to evaluate a firm's tangible resources than its intangible resources.

When a local firm acquires a capability from an external supplier that contributes to the local firm's ability to create value for customers it is

Discuss the relationships among resources, capabilities, core competencies, competitive advantage and firm performance.

Human resource management, as well as research and development are typically used to create indirect value for customers, consequently they are known as

The value chain consists of the structure of activities that a firm uses to successfully integrate acquisitions into their resource portfolio.

Which of the following is the BEST example of a firm's investment in a "real option?"

When a company's core competencies are different from those held by competitors, those competencies are referred to as

In order to build a competitive advantage, a firm must

Companies can use benchmarking to identify better ways to complete value chain activities that create value for customers.

Describe the value chain and explain how a company might use value chain analysis to support decisions about outsourcing.

When a company purchases an asset or resource, such as land, with the intention of holding onto it and using it for future expansion, the company has purchased an "intangible option."

It is usually quite easy for managers to identify their company's strengths and weaknesses.

The true value of a firm's resources emerges when they are integrated to form capabilities.

The text mentions that FedEx studied the activities and best practices of transportation companies in order to develop its over-night delivery business. In this example, FedEx used

When a firm is unable to complete a value chain activity in an efficient manner, that activity becomes a prime candidate for outsourcing to another firm that can perform the activity more efficiently.

In order to be successful, a company must create value that

Which of the following resources are the most difficult to identify and evaluate?

Which of the following IS NOT a reason firms outsource the performance of an activity to an external supplier?

The Foundations of Strategic Management

Leading Strategically

Analyzing the External Environment

Business-Level Strategy

Multiproduct Strategies

Acquiring and Integrating Businesses

Competing Across Borders

Creating and Maintaining Alliances

Innovating Through Strategic Entrepreneurship

Filters