Question 1

The formulation of Coca-Cola 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 2

Which of the following is least likely to meet the criteria for strategic resources?

Accepted Answer

A)  A firm's raw material inventory 
B)  A firm's organizational culture 
C)  A firm's reputation 
D)  A firm's intellectual properties 
E)  A firm's employees' skills 
A)  A firm's raw material inventory 
B)  A firm's organizational culture 
C)  A firm's reputation 
D)  A firm's intellectual properties 
E)  A firm's employees' skills

Question 3

Which of the following is also known as the four Ps of marketing and provides important insights into how to convince customers to purchase a firm's goods and services?

Accepted Answer

A)  The marketing bible 
B)  The marketing mix 
C)  The marketing cocktail 
D)  The marketing mantra 
E)  The marketing gospel 
A)  The marketing bible 
B)  The marketing mix 
C)  The marketing cocktail 
D)  The marketing mantra 
E)  The marketing gospel

Question 4

The distinctive competency theory offers a complete framework for analyzing organizations.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is true about transaction cost economics?

Accepted Answer

A)  It is a theory that contends that an organization can, at least in part, create an environment for itself that is beneficial to the organization. 
B)  It is a theory that contends that organizations are very limited in their ability to adapt to the conditions around them. 
C)  It is a theory that examines the extent to which firms copy each other's strategies. 
D)  It is a theory that centers on whether it is cheaper for a firm to make or to buy the products that it needs. 
E)  It is a theory that contends that the possession of strategic resources can provide an organization with competitive advantages over its rivals. 
A)  It is a theory that contends that an organization can, at least in part, create an environment for itself that is beneficial to the organization. 
B)  It is a theory that contends that organizations are very limited in their ability to adapt to the conditions around them. 
C)  It is a theory that examines the extent to which firms copy each other's strategies. 
D)  It is a theory that centers on whether it is cheaper for a firm to make or to buy the products that it needs. 
E)  It is a theory that contends that the possession of strategic resources can provide an organization with competitive advantages over its rivals.

Question 6

_____ provide exclusive rights to the creators of original artistic works such as books, movies, songs, and screenplays.

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 7

Describe the four measures along which best value supply chains strive to excel.

Accepted Answer

Best value supply chains strive to excel

Question 8

Tangible resources are resources that can be readily seen, touched, and _______.

Accepted Answer

A)  Compared 
B)  Available 
C)  Qualified 
D)  Quantified 
E)  None of these 
A)  Compared 
B)  Available 
C)  Qualified 
D)  Quantified 
E)  None of these

Question 9

Which of the following is true about institutional theory?

Accepted Answer

A)  It is a theory that contends that an organization can, at least in part, create an environment for itself that is beneficial to the organization. 
B)  It is a theory that contends that organizations are very limited in their ability to adapt to the conditions around them. 
C)  It is a theory that examines the extent to which firms copy each other's strategies. 
D)  It is a theory that centers on whether it is cheaper for a firm to make or to buy the products that it needs. 
E)  It is a theory that contends that the possession of strategic resources can provide an organization with competitive advantages over its rivals. 
A)  It is a theory that contends that an organization can, at least in part, create an environment for itself that is beneficial to the organization. 
B)  It is a theory that contends that organizations are very limited in their ability to adapt to the conditions around them. 
C)  It is a theory that examines the extent to which firms copy each other's strategies. 
D)  It is a theory that centers on whether it is cheaper for a firm to make or to buy the products that it needs. 
E)  It is a theory that contends that the possession of strategic resources can provide an organization with competitive advantages over its rivals.

Question 10

A distinctive competence is a set of strategic resources that an organization owns.

Accepted Answer

A) True 
 B)False

Question 11

Enactment and environmental determinism offer similar views on why some firms succeed and others fail.

Accepted Answer

A) True 
 B)False

Question 12

A resource that is valuable and rare but that can be imitated might provide an edge in the short-term, but competitors can overcome such an advantage eventually.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is an example of a patent?

Accepted Answer

A)  Richard James's Slinky 
B)  McDonald's golden arches 
C)  The Nike swoosh 
D)  The formulation of Coca-Cola 
E)  Original artistic creations, like books 
A)  Richard James's Slinky 
B)  McDonald's golden arches 
C)  The Nike swoosh 
D)  The formulation of Coca-Cola 
E)  Original artistic creations, like books

Question 14

An organization cannot hope to create an enduring competitive advantage around common resources.

Accepted Answer

A) True 
 B)False

Question 15

According to the resource-based theory, _____ of an asset is one of the four qualities that makes it a strategic resource for a business.

Accepted Answer

A)  availability 
B)  dynamism 
C)  rarity 
D)  tangibility 
E)  competitiveness 
A)  availability 
B)  dynamism 
C)  rarity 
D)  tangibility 
E)  competitiveness

Question 16

Intangible resources of a firm include the knowledge and skills of its employees, its reputation, and its property, plants, and equipment.

Accepted Answer

A) True 
 B)False

Question 17

Enactment contends that an organization can, at least in part, create an environment for itself that is beneficial to the organization.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following theories for explaining a firm's competitiveness centers on just one element of business activity: whether it is cheaper for a firm to make or to buy the products that it needs?

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 19

A value chain charts the path by which products and services are created and eventually sold to customers.

Accepted Answer

A) True 
 B)False

Question 20

Trade secrets:

Accepted Answer

A)  are phrases, pictures, names, or symbols used to identify a particular organization. 
B)  provide exclusive rights to the creators of original artistic works such as books, movies, songs, and screenplays. 
C)  are legal decrees that protect inventions from direct imitation for a limited period of time. 
D)  refer to formulas, practices, and designs that are central to a firm's business and that remain unknown to competitors. 
E)  provide exclusive rights to the creators of formulas, practices, and designs and allow them to keep those a secret. 
A)  are phrases, pictures, names, or symbols used to identify a particular organization. 
B)  provide exclusive rights to the creators of original artistic works such as books, movies, songs, and screenplays. 
C)  are legal decrees that protect inventions from direct imitation for a limited period of time. 
D)  refer to formulas, practices, and designs that are central to a firm's business and that remain unknown to competitors. 
E)  provide exclusive rights to the creators of formulas, practices, and designs and allow them to keep those a secret.

The formulation of Coca-Cola is an example of a(n) _____.

Which of the following is least likely to meet the criteria for strategic resources?

Which of the following is also known as the four Ps of marketing and provides important insights into how to convince customers to purchase a firm's goods and services?

The distinctive competency theory offers a complete framework for analyzing organizations.

Which of the following is true about transaction cost economics?

_____ provide exclusive rights to the creators of original artistic works such as books, movies, songs, and screenplays.

Describe the four measures along which best value supply chains strive to excel.

Tangible resources are resources that can be readily seen, touched, and _______.

Which of the following is true about institutional theory?

A distinctive competence is a set of strategic resources that an organization owns.

Enactment and environmental determinism offer similar views on why some firms succeed and others fail.

A resource that is valuable and rare but that can be imitated might provide an edge in the short-term, but competitors can overcome such an advantage eventually.

Which of the following is an example of a patent?

An organization cannot hope to create an enduring competitive advantage around common resources.

According to the resource-based theory, _____ of an asset is one of the four qualities that makes it a strategic resource for a business.

Intangible resources of a firm include the knowledge and skills of its employees, its reputation, and its property, plants, and equipment.

Enactment contends that an organization can, at least in part, create an environment for itself that is beneficial to the organization.

Which of the following theories for explaining a firm's competitiveness centers on just one element of business activity: whether it is cheaper for a firm to make or to buy the products that it needs?

A value chain charts the path by which products and services are created and eventually sold to customers.

Trade secrets:

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

The formulation of Coca-Cola is an example of a(n) _____.

Which of the following is least likely to meet the criteria for strategic resources?

Which of the following is also known as the four Ps of marketing and provides important insights into how to convince customers to purchase a firm's goods and services?

The distinctive competency theory offers a complete framework for analyzing organizations.

Which of the following is true about transaction cost economics?

_____ provide exclusive rights to the creators of original artistic works such as books, movies, songs, and screenplays.

Describe the four measures along which best value supply chains strive to excel.

Tangible resources are resources that can be readily seen, touched, and _______.

Which of the following is true about institutional theory?

A distinctive competence is a set of strategic resources that an organization owns.

Enactment and environmental determinism offer similar views on why some firms succeed and others fail.

A resource that is valuable and rare but that can be imitated might provide an edge in the short-term, but competitors can overcome such an advantage eventually.

Which of the following is an example of a patent?

An organization cannot hope to create an enduring competitive advantage around common resources.

According to the resource-based theory, _____ of an asset is one of the four qualities that makes it a strategic resource for a business.

Intangible resources of a firm include the knowledge and skills of its employees, its reputation, and its property, plants, and equipment.

Enactment contends that an organization can, at least in part, create an environment for itself that is beneficial to the organization.

Which of the following theories for explaining a firm's competitiveness centers on just one element of business activity: whether it is cheaper for a firm to make or to buy the products that it needs?

A value chain charts the path by which products and services are created and eventually sold to customers.

Trade secrets:

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