Question 1

Patents are phrases, pictures, names, or symbols used to identify a particular organization.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following theories for explaining a firm's competitiveness contends that organizations are very limited in their ability to adapt to the conditions around them?

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 3

_____ is a classic management tool that incorporates the idea of scanning elements such as strengths, weaknesses, opportunities, and threats which are both external and internal to the firm.

Accepted Answer

A)  PESTLE analysis 
B)  Business intelligence 
C)  Enterprise resource planning 
D)  Process mining 
E)  SWOT analysis 
A)  PESTLE analysis 
B)  Business intelligence 
C)  Enterprise resource planning 
D)  Process mining 
E)  SWOT analysis

Question 4

Which of the following qualities of an asset makes it a strategic resource for a business?

Accepted Answer

A)  available 
B)  dynamic 
C)  tangible 
D)  difficult to imitate 
E)  competitive 
A)  available 
B)  dynamic 
C)  tangible 
D)  difficult to imitate 
E)  competitive

Question 5

A firm's property, reputation, and culture are considered to be its tangible resources.

Accepted Answer

A) True 
 B)False

Question 6

Companies develop intellectual property to eliminate the risk of substitution of resources by competitors.

Accepted Answer

A) True 
 B)False

Question 7

Best value supply chains strive to excel along four measures: speed, quality, cost, and flexibility.

Accepted Answer

A) True 
 B)False

Question 8

_____ are legal decrees that protect inventions from direct imitation for a limited period of time.

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 9

A firm that enjoys a dynamic capability is one that is skilled at continually updating its strategic resources.

Accepted Answer

A) True 
 B)False

Question 10

Identify the five primary activities that are included in value chains.

Accepted Answer

Primary activities are actions that are

Question 11

Which of the following is true about enactment with regard to a firm's competitiveness?

Accepted Answer

A)  It is a theoretical perspective 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 theoretical perspective 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 theoretical perspective 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 theoretical perspective 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 12

Which of the following is an example of a trade secret?

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 13

What are trade secrets? How are they protected? Give two examples of trade secrets.

Accepted Answer

Students' examples may vary.
Trade secre

Question 14

Resources refer to what an organization owns, capabilities refer to what the organization can do.

Accepted Answer

A) True 
 B)False

Patents are phrases, pictures, names, or symbols used to identify a particular organization.

Which of the following theories for explaining a firm's competitiveness contends that organizations are very limited in their ability to adapt to the conditions around them?

_____ is a classic management tool that incorporates the idea of scanning elements such as strengths, weaknesses, opportunities, and threats which are both external and internal to the firm.

Which of the following qualities of an asset makes it a strategic resource for a business?

A firm's property, reputation, and culture are considered to be its tangible resources.

Companies develop intellectual property to eliminate the risk of substitution of resources by competitors.

Best value supply chains strive to excel along four measures: speed, quality, cost, and flexibility.

_____ are legal decrees that protect inventions from direct imitation for a limited period of time.

A firm that enjoys a dynamic capability is one that is skilled at continually updating its strategic resources.

Identify the five primary activities that are included in value chains.

Which of the following is true about enactment with regard to a firm's competitiveness?

Which of the following is an example of a trade secret?

What are trade secrets? How are they protected? Give two examples of trade secrets.

Resources refer to what an organization owns, capabilities refer to what the organization can do.

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

Patents are phrases, pictures, names, or symbols used to identify a particular organization.

Which of the following theories for explaining a firm's competitiveness contends that organizations are very limited in their ability to adapt to the conditions around them?

_____ is a classic management tool that incorporates the idea of scanning elements such as strengths, weaknesses, opportunities, and threats which are both external and internal to the firm.

Which of the following qualities of an asset makes it a strategic resource for a business?

A firm's property, reputation, and culture are considered to be its tangible resources.

Companies develop intellectual property to eliminate the risk of substitution of resources by competitors.

Best value supply chains strive to excel along four measures: speed, quality, cost, and flexibility.

_____ are legal decrees that protect inventions from direct imitation for a limited period of time.

A firm that enjoys a dynamic capability is one that is skilled at continually updating its strategic resources.

Identify the five primary activities that are included in value chains.

Which of the following is true about enactment with regard to a firm's competitiveness?

Which of the following is an example of a trade secret?

What are trade secrets? How are they protected? Give two examples of trade secrets.

Resources refer to what an organization owns, capabilities refer to what the organization can do.

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