Question 1

A company's competitive advantage will not endure for long when that competitive advantage can be:

Accepted Answer

A) quickly or easily duplicated by other companies. 
B) protected by patents. 
C) protected by significant barriers to imitation. 
D) shared with other companies in the industry. 
E) shielded by copyrights. 
A) quickly or easily duplicated by other companies. 
B) protected by patents. 
C) protected by significant barriers to imitation. 
D) shared with other companies in the industry. 
E) shielded by copyrights.

Question 2

Competitive advantage typically leads to:

Accepted Answer

A) a defective business model. 
B) average profitability within an industry. 
C) superior profitability. 
D) the Icarus paradox. 
E) barriers to changes in the organization. 
A) a defective business model. 
B) average profitability within an industry. 
C) superior profitability. 
D) the Icarus paradox. 
E) barriers to changes in the organization.

Question 3

Cost accountants are responsible for gathering and monitoring data used for controlling the organization's costs.In which value chain activity do cost accountants work?

Accepted Answer

A) Research and development 
B) Human resources 
C) Materials management 
D) Marketing and sales 
E) Company infrastructure 
A) Research and development 
B) Human resources 
C) Materials management 
D) Marketing and sales 
E) Company infrastructure

Question 4

A company's profitability depends on the value customers place on the company's products and a company's ability to reduce its production costs.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is true of the impact of high product quality on competitive advantage?

Accepted Answer

A) It decreases the utility of the products. 
B) It lowers unit costs of the products. 
C) It adversely affects employee productivity. 
D) It limits the company's ability to differentiate its products. 
E) It increases the need for after sales services. 
A) It decreases the utility of the products. 
B) It lowers unit costs of the products. 
C) It adversely affects employee productivity. 
D) It limits the company's ability to differentiate its products. 
E) It increases the need for after sales services.

Question 6

A resource is inimitable if competitors are able to copy it easily.

Accepted Answer

A) True 
 B)False

Question 7

_____ consists of the electronic systems for managing inventory,tracking sales,pricing products,selling products,and dealing with customer service inquiries.

Accepted Answer

A) Information systems 
B) Logistics 
C) Barriers to imitation 
D) Benchmark 
E) Materials management 
A) Information systems 
B) Logistics 
C) Barriers to imitation 
D) Benchmark 
E) Materials management

Question 8

Identify and describe the four building blocks of competitive advantage.Provide an example of each using a real company situation.

Accepted Answer

The four building blocks of competitive

Question 9

Donna can make a chair for about $100,she charges customers $150 to buy the chair,and customers perceive that the chair is worth $225.In this case,the consumer surplus is:

Accepted Answer

A) $50. 
B) $75. 
C) $125. 
D) $150. 
E) $225. 
A) $50. 
B) $75. 
C) $125. 
D) $150. 
E) $225.

Question 10

Intellectual property protections,including patents,trademarks and copyrights,typically provide a barrier to imitation.

Accepted Answer

A) True 
 B)False

Question 11

Analyze the relationships among distinctive competitive advantage,distinctive competencies,resources,and capabilities.

Accepted Answer

The primary objective of strategy is to

Question 12

Ford Motors developed the Explorer sports utility vehicle in 1990,and it is still in the top ten best-selling sports utility vehicles in the United States,based on an extensive study of customer preferences.Which value chain activity of Ford conducted those studies?

Accepted Answer

A) Research and development 
B) Human resources 
C) Materials management 
D) Marketing and sales 
E) Company infrastructure 
A) Research and development 
B) Human resources 
C) Materials management 
D) Marketing and sales 
E) Company infrastructure

Question 13

Innovation refers to the act of:

Accepted Answer

A) seeking patent protection for new products. 
B) creating new products and processes. 
C) measuring time taken for a service to be provided. 
D) measuring the output produced by an employee. 
E) identifying and satisfying the needs of a customer. 
A) seeking patent protection for new products. 
B) creating new products and processes. 
C) measuring time taken for a service to be provided. 
D) measuring the output produced by an employee. 
E) identifying and satisfying the needs of a customer.

Question 14

The more a resource is firm-specific and difficult to imitate,the more likely a company holding that resource is said to have a distinctive competency.

Accepted Answer

A) True 
 B)False

Question 15

If a company's profitability is higher than the industry average,it has a competitive advantage.

Accepted Answer

A) True 
 B)False

Question 16

A value chain is a sequence of activities for transforming inputs into outputs that are valued by customers.

Accepted Answer

A) True 
 B)False

Question 17

Nene works in a factory where she picks crab meat from crabs.She is paid per day based upon the number of pounds of crab meat that she picks.Nene's daily number of pounds of crab meat can be referred to as her productivity.

Accepted Answer

A) True 
 B)False

Question 18

Benchmarking is a practice in which a company's performance is compared against that of other companies in different industries.

Accepted Answer

A) True 
 B)False

Question 19

Which primary activity in the value chain is concerned with the design of products and production processes?

Accepted Answer

A) Research and development 
B) Marketing and sales 
C) Materials management 
D) Production 
E) Company infrastructure 
A) Research and development 
B) Marketing and sales 
C) Materials management 
D) Production 
E) Company infrastructure

A company's competitive advantage will not endure for long when that competitive advantage can be:

Competitive advantage typically leads to:

Cost accountants are responsible for gathering and monitoring data used for controlling the organization's costs.In which value chain activity do cost accountants work?

A company's profitability depends on the value customers place on the company's products and a company's ability to reduce its production costs.

Which of the following is true of the impact of high product quality on competitive advantage?

A resource is inimitable if competitors are able to copy it easily.

_____ consists of the electronic systems for managing inventory,tracking sales,pricing products,selling products,and dealing with customer service inquiries.

Identify and describe the four building blocks of competitive advantage.Provide an example of each using a real company situation.

Donna can make a chair for about $100,she charges customers $150 to buy the chair,and customers perceive that the chair is worth $225.In this case,the consumer surplus is:

Intellectual property protections,including patents,trademarks and copyrights,typically provide a barrier to imitation.

Analyze the relationships among distinctive competitive advantage,distinctive competencies,resources,and capabilities.

Ford Motors developed the Explorer sports utility vehicle in 1990,and it is still in the top ten best-selling sports utility vehicles in the United States,based on an extensive study of customer preferences.Which value chain activity of Ford conducted those studies?

Innovation refers to the act of:

The more a resource is firm-specific and difficult to imitate,the more likely a company holding that resource is said to have a distinctive competency.

If a company's profitability is higher than the industry average,it has a competitive advantage.

A value chain is a sequence of activities for transforming inputs into outputs that are valued by customers.

Nene works in a factory where she picks crab meat from crabs.She is paid per day based upon the number of pounds of crab meat that she picks.Nene's daily number of pounds of crab meat can be referred to as her productivity.

Benchmarking is a practice in which a company's performance is compared against that of other companies in different industries.

Which primary activity in the value chain is concerned with the design of products and production processes?

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

Filters

Exam 3: Internal Analysis: Resources and Competitive Advantage

A company's competitive advantage will not endure for long when that competitive advantage can be:

Competitive advantage typically leads to:

Cost accountants are responsible for gathering and monitoring data used for controlling the organization's costs.In which value chain activity do cost accountants work?

A company's profitability depends on the value customers place on the company's products and a company's ability to reduce its production costs.

Which of the following is true of the impact of high product quality on competitive advantage?

A resource is inimitable if competitors are able to copy it easily.

_____ consists of the electronic systems for managing inventory,tracking sales,pricing products,selling products,and dealing with customer service inquiries.

Identify and describe the four building blocks of competitive advantage.Provide an example of each using a real company situation.

Donna can make a chair for about $100,she charges customers $150 to buy the chair,and customers perceive that the chair is worth $225.In this case,the consumer surplus is:

Intellectual property protections,including patents,trademarks and copyrights,typically provide a barrier to imitation.

Analyze the relationships among distinctive competitive advantage,distinctive competencies,resources,and capabilities.

Ford Motors developed the Explorer sports utility vehicle in 1990,and it is still in the top ten best-selling sports utility vehicles in the United States,based on an extensive study of customer preferences.Which value chain activity of Ford conducted those studies?

Innovation refers to the act of:

The more a resource is firm-specific and difficult to imitate,the more likely a company holding that resource is said to have a distinctive competency.

If a company's profitability is higher than the industry average,it has a competitive advantage.

A value chain is a sequence of activities for transforming inputs into outputs that are valued by customers.

Nene works in a factory where she picks crab meat from crabs.She is paid per day based upon the number of pounds of crab meat that she picks.Nene's daily number of pounds of crab meat can be referred to as her productivity.

Benchmarking is a practice in which a company's performance is compared against that of other companies in different industries.

Which primary activity in the value chain is concerned with the design of products and production processes?

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

Filters