Question 1

_________ property refers to creations of the mind, such as inventions, artistic products, and symbols.

Accepted Answer

A)  Institutional 
B)  Intellectual 
C)  Investment 
D)  Innovative 
E)  Informational 
A)  Institutional 
B)  Intellectual 
C)  Investment 
D)  Innovative 
E)  Informational B

Question 2

Though SWOT analysis is used within most organizations, it is easy to misinterpret its results. Identify three points that executives should keep in mind for performing a successful SWOT analysis.

Accepted Answer

A few important cautions that executives should keep in their mind for performing a successful SWOT analysis are:
-In laying out each of the four elements of SWOT, internal and external factors should not be confused with each other.
-Opportunities should not be confused with the strategic moves that are designed to capitalize on these opportunities.
-The results of SWOT analysis should not be overemphasized. The SWOT analysis tool should be viewed more as a brainstorming tool for generating creative ideas and less as a rigorous method for selecting strategies.

Question 3

What are trademarks? Why are trademarks important for organizations? Give two examples of trademarks.

Accepted Answer

Students' examples may vary.
Trademarks are phrases, pictures, names, or symbols used to identify a particular organization. Trademarks are important for organizations because they help an organization stand out and build an identity in the marketplace, and because they help rising companies carve out a unique niche for themselves.
Some examples of trademarks: McDonald's golden arches, the Nike swoosh, and Apple's outline of an apple.

Question 4

Which of the following is one of the four components required for creating best value supply chains?

Accepted Answer

A)  Strategic value chain management 
B)  Adaptability 
C)  Technology 
D)  Diversification 
E)  Operations 
A)  Strategic value chain management 
B)  Adaptability 
C)  Technology 
D)  Diversification 
E)  Operations

Question 5

_____ is one of the four Ps of the marketing mix.

Accepted Answer

A)  Process 
B)  Physical evidence 
C)  People 
D)  Planning 
E)  Price 
A)  Process 
B)  Physical evidence 
C)  People 
D)  Planning 
E)  Price

Question 6

Which of the following is a secondary activity that value chains include?

Accepted Answer

A)  Inbound logistics 
B)  Firm infrastructure 
C)  Operations 
D)  Service 
E)  Marketing and sales 
A)  Inbound logistics 
B)  Firm infrastructure 
C)  Operations 
D)  Service 
E)  Marketing and sales

Question 7

Apple has been able to reshape its environment by introducing products such as the iPhone and the iPad that transcend the traditional boundaries between the cell phone, digital camera, music player, and computer businesses. This is an example of _____ for explaining a firm's competitiveness.

Accepted Answer

A)  resource-based theory 
B)  enactment 
C)  transaction cost economics 
D)  environmental determinism 
E)  institutional theory 
A)  resource-based theory 
B)  enactment 
C)  transaction cost economics 
D)  environmental determinism 
E)  institutional theory

Question 8

Which of the following theories for explaining a firm's competitiveness treats executives as the masters of their domains?

Accepted Answer

A)  Resource-based theory 
B)  Enactment 
C)  Transaction cost economics 
D)  Environmental determinism 
E)  Institutional theory 
A)  Resource-based theory 
B)  Enactment 
C)  Transaction cost economics 
D)  Environmental determinism 
E)  Institutional theory

Question 9

Describe the theory of transactional cost economics.

Accepted Answer

Transaction cost economics is a theory t

Question 10

Which of the following components required for creating best value supply chains can be achieved through the use of buffers?

Accepted Answer

A)  Agility 
B)  Strategic supply chain management 
C)  Alignment 
D)  Adaptability 
E)  Operations 
A)  Agility 
B)  Strategic supply chain management 
C)  Alignment 
D)  Adaptability 
E)  Operations

Question 11

A strategic resource is valuable to the extent that it is difficult to imitate.

Accepted Answer

A) True 
 B)False

Question 12

The marketing mix concept was proposed by circus impresario P.T. Barnum.

Accepted Answer

A) True 
 B)False

Question 13

The formulation of Dr. Pepper's is an example of a(n) _____.

Accepted Answer

A)  copyright 
B)  trademark 
C)  trade secret 
D)  patent 
E)  inventor right 
A)  copyright 
B)  trademark 
C)  trade secret 
D)  patent 
E)  inventor right

Question 14

Which of the following refer to formulas, practices, and designs that are central to a firm's business and that remain unknown to competitors?

Accepted Answer

A)  Patents 
B)  Copyrights 
C)  Trademarks 
D)  Trade secrets 
E)  Inventor rights 
A)  Patents 
B)  Copyrights 
C)  Trademarks 
D)  Trade secrets 
E)  Inventor rights

Question 15

SWOT analysis involves comparing two internal and two external factors. What are the two external factors?

Accepted Answer

A)  Strengths and Opportunities 
B)  Strengths and Weaknesses 
C)  Weaknesses and Threats 
D)  Opportunities and Threats 
E)  Strengths and Threats 
A)  Strengths and Opportunities 
B)  Strengths and Weaknesses 
C)  Weaknesses and Threats 
D)  Opportunities and Threats 
E)  Strengths and Threats

Question 16

What qualities should an asset have in order to be classified as a strategic resource according to the resource-based theory? What kind of competitive advantage does a resource provide if it has all these qualities?

Accepted Answer

According to the resource-based theory,

Question 17

The four main types of intellectual property are patents, trademarks, copyrights, and trade secrets.

Accepted Answer

A) True 
 B)False

Question 18

Transaction cost economics is a theory that centers on just one element of business activity: the cost of creating a product and moving it to the customer.

Accepted Answer

A) True 
 B)False

Question 19

The four Ps of marketing are: product, price, place, and promotion.

Accepted Answer

A) True 
 B)False

Question 20

The signature red sole of Christian Louboutin's high-end shoes is an example of a(n) _____.

Accepted Answer

A)  Inventor right 
B)  Patent 
C)  Trademark 
D)  Copyright 
E)  Trade secret 
A)  Inventor right 
B)  Patent 
C)  Trademark 
D)  Copyright 
E)  Trade secret

_________ property refers to creations of the mind, such as inventions, artistic products, and symbols.

Though SWOT analysis is used within most organizations, it is easy to misinterpret its results. Identify three points that executives should keep in mind for performing a successful SWOT analysis.

What are trademarks? Why are trademarks important for organizations? Give two examples of trademarks.

Which of the following is one of the four components required for creating best value supply chains?

_____ is one of the four Ps of the marketing mix.

Which of the following is a secondary activity that value chains include?

Apple has been able to reshape its environment by introducing products such as the iPhone and the iPad that transcend the traditional boundaries between the cell phone, digital camera, music player, and computer businesses. This is an example of _____ for explaining a firm's competitiveness.

Which of the following theories for explaining a firm's competitiveness treats executives as the masters of their domains?

Describe the theory of transactional cost economics.

Which of the following components required for creating best value supply chains can be achieved through the use of buffers?

A strategic resource is valuable to the extent that it is difficult to imitate.

The marketing mix concept was proposed by circus impresario P.T. Barnum.

The formulation of Dr. Pepper's is an example of a(n) _____.

Which of the following refer to formulas, practices, and designs that are central to a firm's business and that remain unknown to competitors?

SWOT analysis involves comparing two internal and two external factors. What are the two external factors?

What qualities should an asset have in order to be classified as a strategic resource according to the resource-based theory? What kind of competitive advantage does a resource provide if it has all these qualities?

The four main types of intellectual property are patents, trademarks, copyrights, and trade secrets.

Transaction cost economics is a theory that centers on just one element of business activity: the cost of creating a product and moving it to the customer.

The four Ps of marketing are: product, price, place, and promotion.

The signature red sole of Christian Louboutin's high-end shoes is an example of a(n) _____.

Mastering Strategy: Art and Science

Leading Strategically

Evaluating the External Environment

Selecting Business-Level Strategies

Supporting the Business-Level Strategy: Competitive and Cooperative Moves

Competing in International Markets

Selecting Corporate-Level Strategies

Executing Strategy Through Organizational Design

Leading an Ethical Organization: Corporate Governance, Corporate Ethics, and Social Responsibility

Filters

Exam 4: Managing Company Resources

_________ property refers to creations of the mind, such as inventions, artistic products, and symbols.

Though SWOT analysis is used within most organizations, it is easy to misinterpret its results. Identify three points that executives should keep in mind for performing a successful SWOT analysis.

What are trademarks? Why are trademarks important for organizations? Give two examples of trademarks.

Which of the following is one of the four components required for creating best value supply chains?

_____ is one of the four Ps of the marketing mix.

Which of the following is a secondary activity that value chains include?

Apple has been able to reshape its environment by introducing products such as the iPhone and the iPad that transcend the traditional boundaries between the cell phone, digital camera, music player, and computer businesses. This is an example of _____ for explaining a firm's competitiveness.

Which of the following theories for explaining a firm's competitiveness treats executives as the masters of their domains?

Describe the theory of transactional cost economics.

Which of the following components required for creating best value supply chains can be achieved through the use of buffers?

A strategic resource is valuable to the extent that it is difficult to imitate.

The marketing mix concept was proposed by circus impresario P.T. Barnum.

The formulation of Dr. Pepper's is an example of a(n) _____.

Which of the following refer to formulas, practices, and designs that are central to a firm's business and that remain unknown to competitors?

SWOT analysis involves comparing two internal and two external factors. What are the two external factors?

What qualities should an asset have in order to be classified as a strategic resource according to the resource-based theory? What kind of competitive advantage does a resource provide if it has all these qualities?

The four main types of intellectual property are patents, trademarks, copyrights, and trade secrets.

Transaction cost economics is a theory that centers on just one element of business activity: the cost of creating a product and moving it to the customer.

The four Ps of marketing are: product, price, place, and promotion.

The signature red sole of Christian Louboutin's high-end shoes is an example of a(n) _____.

Mastering Strategy: Art and Science

Leading Strategically

Evaluating the External Environment

Selecting Business-Level Strategies

Supporting the Business-Level Strategy: Competitive and Cooperative Moves

Competing in International Markets

Selecting Corporate-Level Strategies

Executing Strategy Through Organizational Design

Leading an Ethical Organization: Corporate Governance, Corporate Ethics, and Social Responsibility

Filters