A) defined as the time it takes to produce a product. B) the quantity of inputs required to produce an output. C) independent of customers' perception of a product's value. D) measured by looking at a product's price. E) lower when the output is high-quality. A) defined as the time it takes to produce a product. B) the quantity of inputs required to produce an output. C) independent of customers' perception of a product's value. D) measured by looking at a product's price. E) lower when the output is high-quality.

Exam 3: Internal Analysis: Resources and Competitive Advantage

Give one example of a firm that has achieved a distinctive competency in efficiency and describe that competency.Repeat for a firm with a distinctive competency in quality,innovation,and responsiveness to customers.

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Question 1

Correct Answer:

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Walmart is able to buy its products in high volume and to negotiate low prices from its suppliers,which it can then pass on to customers through low pricing.
Ben and Jerry's Ice Cream is able to develop trendy flavors that customers desire,giving that firm an advantage in quality.
3M works with customers to develop new products for specific customer needs,which is a distinctive competency in innovation.
Dell Computers uses its website to offer convenient and cheap after-sales support to customers,satisfying demands for customer responsiveness.

Which of the following reports includes the cost of goods sold?

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Question 2

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When Rollie's car wash began to lose business to rivals,Rollie read publications for car wash owners to learn the best practices in the industry.Then she implemented the best practices.Rollie is using ____ to improve her car wash.

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Question 3

Correct Answer:

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Which of the following is not true regarding a company's distinctive competencies?

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Question 4

The intellectual property of an organization is a(n):

(Multiple Choice)

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Question 5

When conducting an internal analysis,strategic managers should:

(Multiple Choice)

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Question 6

Explain how tangible and intangible resources and capabilities can lead to distinctive competencies.Give specific examples.

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Question 7

At the heart of any company's business model is the combination of congruent strategies aimed at creating distinctive competencies that differentiate its products and result in a lower cost structure.

(True/False)

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Question 8

The VRIO model is designed to help companies assess the quality of their resources and identify sources of competitive advantage.

(True/False)

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Question 9

Anna bakes cookies for about $10 per batch,she charges customers $15 to a batch,and customers perceive that the cookies are worth $25 per batch.Anna's profit margin is:

(Multiple Choice)

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Question 10

When a company has differentiated products,they have less pricing options.

(True/False)

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Question 11

The simplest measure of efficiency is:

(Multiple Choice)

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Question 12

Which of the following support activities in the value chain refers to the transmission of physical materials from procurement through production and into distribution?

(Multiple Choice)

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Question 13

According to the text,one of the basic building blocks of competitive advantage is:

(Multiple Choice)

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Question 14

When a resource is said to be organized,this means that the company:

(Multiple Choice)

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Question 15

In the fashion industry,the time required to take a new product from design inception to placement in a retail store is known as customer response time.

(True/False)

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Question 16

Efficiency is:

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Question 17

Dale's methods of fitting horseshoes save time and money for his employer at the local ranch.However,when Dale suggests that everyone use his method,his boss,Cedric,says,"No.That's not the way we've always done it around here." Cedric's resistance to change illustrates:

(Multiple Choice)

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Question 18

Customer response time is:

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Question 19

IBM's investment in mainframe computers,that proved disadvantageous when the market shifted to smaller personal computers,is an example of a prior strategic commitment.

(True/False)

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Question 20

Showing 1 - 20 of 79

Give one example of a firm that has achieved a distinctive competency in efficiency and describe that competency.Repeat for a firm with a distinctive competency in quality,innovation,and responsiveness to customers.

Which of the following reports includes the cost of goods sold?

When Rollie's car wash began to lose business to rivals,Rollie read publications for car wash owners to learn the best practices in the industry.Then she implemented the best practices.Rollie is using ____ to improve her car wash.

Which of the following is not true regarding a company's distinctive competencies?

The intellectual property of an organization is a(n):

When conducting an internal analysis,strategic managers should:

Explain how tangible and intangible resources and capabilities can lead to distinctive competencies.Give specific examples.

At the heart of any company's business model is the combination of congruent strategies aimed at creating distinctive competencies that differentiate its products and result in a lower cost structure.

The VRIO model is designed to help companies assess the quality of their resources and identify sources of competitive advantage.

Anna bakes cookies for about $10 per batch,she charges customers $15 to a batch,and customers perceive that the cookies are worth $25 per batch.Anna's profit margin is:

When a company has differentiated products,they have less pricing options.

The simplest measure of efficiency is:

Which of the following support activities in the value chain refers to the transmission of physical materials from procurement through production and into distribution?

According to the text,one of the basic building blocks of competitive advantage is:

When a resource is said to be organized,this means that the company:

In the fashion industry,the time required to take a new product from design inception to placement in a retail store is known as customer response time.

Efficiency is:

Dale's methods of fitting horseshoes save time and money for his employer at the local ranch.However,when Dale suggests that everyone use his method,his boss,Cedric,says,"No.That's not the way we've always done it around here." Cedric's resistance to change illustrates:

Customer response time is:

IBM's investment in mainframe computers,that proved disadvantageous when the market shifted to smaller personal computers,is an example of a prior strategic commitment.

Strategic Leadership: Managing the Strategy Making Process for Competitive Advantage

External Analysis: The Identification of Opportunities and Threats

Building Competitive Advantage Through Functional Level Strategies

Business Level Strategy

Business Level Strategy and the Industry Environment

Strategy and Technology

Strategy in the Global Environment

Corporate-Level Strategy: Horizontal Integration, Vertical Integration, and Strategic Outsourcing

Corporate Level Strategy: Related and Unrelated Diversification

Corporate Performance, Governance, and Business Ethics

Implementing Strategy Through Organization

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