Exam 3: The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages

The key to achieving competitiveness, earning above-average returns, and remaining ahead of competitors in the long run is to manage current core competencies:

Marin Industries is a U.S.company.It is exploring the possibility of offshoring in order to create value.Which of the following activities would be an example of offshoring?

Compared to tangible resources, intangible resources are __________ and __________.

Capabilities of an organization emerge spontaneously through the interaction of tangible and intangible resources.

__________ can be viewed as the capacity to take action.

Southwest Airlines has a complex interrelationship between its culture and staff that adds value in ways that other airlines cannot, such as jokes on flights or the cooperation between gate personnel and pilots.These examples illustrate which of the following criteria for sustainable competitive advantage?

Resources, capabilities, and core competencies are the foundation of competitive advantage.

Firms that achieve competitive parity can expect to:

Apex Auto Repair has a thriving business based on its reputation for high-quality work, honesty, and skilled employees.For continued long-term success, Apex's owner should:

Describe the importance of internal analysis to the strategic success of a firm.Should not-for-profit organizations perform internal analyses? Why or why not?

What is value? Why is it important?

Firms should never outsource a primary activity because of the danger of the activity being imitated by rivals.

Firms achieve strategic competitiveness and earn above-average returns by acquiring, bundling, and leveraging their resources for the purpose of taking advantage of opportunities in the external environment in ways that create value for customers.

The corporate research division of Siemens files, on average, 25 patents a day.The patents are a(n) __________ resource.

The three conditions that characterize difficult managerial decisions concerning resources, capabilities, and core competencies are:

Define outsourcing.Why would an organization want to outsource?

__________ is an example of a capability that is based in the functional area of distribution.

Firms should seek to continually develop new core competencies because all core competencies guarantee above-average profit.

The Obama administration expressed a desire to eliminate coal as an energy source, and introduced regulations to drive the coal industry out of business.The Trump administration eased regulations on the coal industry, but also took steps to encourage the development of other forms of energy.In light of this changing regulatory environment, decision makers in the energy industry are most affected by what condition?

At a technology firm, human capital would be critical to forming and using the firm's capabilities in customer relationships, scientific and research skills, and technical skills in hardware, software, and services.