Question 1

McDonalds can illustrate the concept of:

Accepted Answer

A) Adaptability 
B) A large size firm 
C) Routinization 
D) Flexibility 
A) Adaptability 
B) A large size firm 
C) Routinization 
D) Flexibility

Question 2

What is the difference between Monopoly rents and Ricardian rents?

Accepted Answer

A) Ricardian rents refer to technological advantages whereas Monopoly rents are profits arising from the firm being a monopoly. 
B) Ricardian rents refer to profits arising from market power, whereas Monopoly rents are profits arising from superior resources 
C) Monopoly rents refer to profits arising from market power, whereas Ricardian rents are profits arising from superior resources 
D) The difference is only semantic 
A) Ricardian rents refer to technological advantages whereas Monopoly rents are profits arising from the firm being a monopoly. 
B) Ricardian rents refer to profits arising from market power, whereas Monopoly rents are profits arising from superior resources 
C) Monopoly rents refer to profits arising from market power, whereas Ricardian rents are profits arising from superior resources 
D) The difference is only semantic

Question 3

What are the determinants of the potential for resources and capabilities to generate profits?

Accepted Answer

Three factors determine the potential of

Question 4

Filling resource gaps and developing capabilities for the future:

Accepted Answer

A) Are part of capability analysis and management 
B) Are unimportant to the process of capability analysis 
C) Are the responsibility of operations managers only 
D) Do not require any specific attention by senior management 
A) Are part of capability analysis and management 
B) Are unimportant to the process of capability analysis 
C) Are the responsibility of operations managers only 
D) Do not require any specific attention by senior management

Question 5

If a firm possesses "superfluous strengths", it may:

Accepted Answer

A) Prune these capabilities. 
B) Develop innovative strategies to turn these superfluous strengths into competitive advantage, perhaps in a new market. 
C) Answers a and b 
D) None of the above 
A) Prune these capabilities. 
B) Develop innovative strategies to turn these superfluous strengths into competitive advantage, perhaps in a new market. 
C) Answers a and b 
D) None of the above

Question 6

Organizational routines are:

Accepted Answer

A) Irregular and unpredictable patterns of activity made up of sequences of coordinated actions 
B) Regular patterns of activity which are not really very important. 
C) Regular events and processes performed by junior staff. 
D) Patterns of activity made up of sequences of coordinated actions which have been repeated many times by individuals and teams to the extent of being very used to the pattern and sequence. 
A) Irregular and unpredictable patterns of activity made up of sequences of coordinated actions 
B) Regular patterns of activity which are not really very important. 
C) Regular events and processes performed by junior staff. 
D) Patterns of activity made up of sequences of coordinated actions which have been repeated many times by individuals and teams to the extent of being very used to the pattern and sequence.

Question 7

The strategic options of advanced technology companies are restricted, because their technology ties them to a specific market focus.

Accepted Answer

A) True 
 B)False

Question 8

What is the link between capabilities and routines?

Accepted Answer

A) Generally, a firm only becomes proficient with processes when they have become routine. They may possibly then be termed capabilities. 
B) Every routine create a capability 
C) Capabilities are things which a firm does which are out-of-the-ordinary, and so non-routine. 
D) A capability must be capable of being routinely revised. 
A) Generally, a firm only becomes proficient with processes when they have become routine. They may possibly then be termed capabilities. 
B) Every routine create a capability 
C) Capabilities are things which a firm does which are out-of-the-ordinary, and so non-routine. 
D) A capability must be capable of being routinely revised.

Question 9

Assessment centers and competency modeling are examples of the adoption by firms of objective, quantitative approaches to appraising human resources.

Accepted Answer

A) True 
 B)False

Question 10

Identifying the key resources and capabilities is the first step in analyzing their strategic importance.

Accepted Answer

A) True 
 B)False

Question 11

A firm's resources and capabilities are:

Accepted Answer

A) Such that one resource means one capability 
B) Associated but not linked 
C) Such that one capability may rest upon several resources 
D) Not directly related to each other at all 
A) Such that one resource means one capability 
B) Associated but not linked 
C) Such that one capability may rest upon several resources 
D) Not directly related to each other at all

Question 12

Competitive advantage rather than industry attractiveness is nowadays understood to be the more important source of profit, in general

Accepted Answer

A) True 
 B)False

Question 13

When the external environment is unstable and in a state of flux:

Accepted Answer

A) The firm itself, composed of resources and capabilities, may be a more stable basis for defining its identity and mission 
B) A market-focused strategy may provide enough stability and consistency of direction for the firm to establish its strategy 
C) The analysis of customers' needs takes too long. 
D) Efforts must be devoted to stabilize this external environment or to understand it enough to predict its future states 
A) The firm itself, composed of resources and capabilities, may be a more stable basis for defining its identity and mission 
B) A market-focused strategy may provide enough stability and consistency of direction for the firm to establish its strategy 
C) The analysis of customers' needs takes too long. 
D) Efforts must be devoted to stabilize this external environment or to understand it enough to predict its future states

Question 14

Does the expertise and knowledge that top managers have acquired in previous professional experiences matter if their current firm lacks the required resources and competencies?

Accepted Answer

Even if their current organization lacks

Question 15

Resources are the productive assets owned by a firm

Accepted Answer

A) True 
 B)False

Question 16

Strategy's concern is to match a firm's resources and capabilities to the opportunities emerging from its environment

Accepted Answer

A) True 
 B)False

Question 17

If the speed of change of the environment increases, a firm's resources and capabilities will:

Accepted Answer

A) Tend to provide a more secure foundation for the firm's strategy 
B) Provide a more secure foundation for its short-term activities 
C) Provide a stronger basis for the firm's technological strategy 
D) Potentially hold it back in evolving with the market. 
A) Tend to provide a more secure foundation for the firm's strategy 
B) Provide a more secure foundation for its short-term activities 
C) Provide a stronger basis for the firm's technological strategy 
D) Potentially hold it back in evolving with the market.

Question 18

Are "Human resources" really resources?

Accepted Answer

Human resources comprise the expertise,

Question 19

Capabilities can be understood and represented in a hierarchical diagram:

Accepted Answer

A) Yes 
B) Sometimes 
C) Never 
D) Never and does not make any sense 
A) Yes 
B) Sometimes 
C) Never 
D) Never and does not make any sense

Question 20

Organizational capabilities are the outcome of the organizational processes through which the efforts of different individuals are integrated.

Accepted Answer

A) True 
 B)False

McDonalds can illustrate the concept of:

What is the difference between Monopoly rents and Ricardian rents?

What are the determinants of the potential for resources and capabilities to generate profits?

Filling resource gaps and developing capabilities for the future:

If a firm possesses "superfluous strengths", it may:

Organizational routines are:

The strategic options of advanced technology companies are restricted, because their technology ties them to a specific market focus.

What is the link between capabilities and routines?

Assessment centers and competency modeling are examples of the adoption by firms of objective, quantitative approaches to appraising human resources.

Identifying the key resources and capabilities is the first step in analyzing their strategic importance.

A firm's resources and capabilities are:

Competitive advantage rather than industry attractiveness is nowadays understood to be the more important source of profit, in general

When the external environment is unstable and in a state of flux:

Does the expertise and knowledge that top managers have acquired in previous professional experiences matter if their current firm lacks the required resources and competencies?

Resources are the productive assets owned by a firm

Strategy's concern is to match a firm's resources and capabilities to the opportunities emerging from its environment

If the speed of change of the environment increases, a firm's resources and capabilities will:

Are "Human resources" really resources?

Capabilities can be understood and represented in a hierarchical diagram:

Organizational capabilities are the outcome of the organizational processes through which the efforts of different individuals are integrated.

The Concept of Strategy

Goals, Values and Performance

Industry Analysis: the Fundamentals

Further Topics in Industry and Competitive Analysis

Developing Resources and Capabilities

Organization Structure and Management Systems: the Fundamentals of Strategy Implementation

The Nature and Sources of Competitive Advantage

Cost Advantage

Differentiation Advantage

Industry Evolution and Strategic Change

Technology-Based Industries and the Management of Innovation

Competitive Advantage in Mature Industries

Vertical Integration and the Scope of the Firm

Global Strategies and the Multinational Corporation

Diversification Strategy

Implementing Corporate Strategy: Management of the Multibusiness Firm

Current Trends in Strategic Management

Filters

Exam 5: Analyzing Resources and Capabilities

McDonalds can illustrate the concept of:

What is the difference between Monopoly rents and Ricardian rents?

What are the determinants of the potential for resources and capabilities to generate profits?

Filling resource gaps and developing capabilities for the future:

If a firm possesses "superfluous strengths", it may:

Organizational routines are:

The strategic options of advanced technology companies are restricted, because their technology ties them to a specific market focus.

What is the link between capabilities and routines?

Assessment centers and competency modeling are examples of the adoption by firms of objective, quantitative approaches to appraising human resources.

Identifying the key resources and capabilities is the first step in analyzing their strategic importance.

A firm's resources and capabilities are:

Competitive advantage rather than industry attractiveness is nowadays understood to be the more important source of profit, in general

When the external environment is unstable and in a state of flux:

Does the expertise and knowledge that top managers have acquired in previous professional experiences matter if their current firm lacks the required resources and competencies?

Resources are the productive assets owned by a firm

Strategy's concern is to match a firm's resources and capabilities to the opportunities emerging from its environment

If the speed of change of the environment increases, a firm's resources and capabilities will:

Are "Human resources" really resources?

Capabilities can be understood and represented in a hierarchical diagram:

Organizational capabilities are the outcome of the organizational processes through which the efforts of different individuals are integrated.

The Concept of Strategy

Goals, Values and Performance

Industry Analysis: the Fundamentals

Further Topics in Industry and Competitive Analysis

Developing Resources and Capabilities

Organization Structure and Management Systems: the Fundamentals of Strategy Implementation

The Nature and Sources of Competitive Advantage

Cost Advantage

Differentiation Advantage

Industry Evolution and Strategic Change

Technology-Based Industries and the Management of Innovation

Competitive Advantage in Mature Industries

Vertical Integration and the Scope of the Firm

Global Strategies and the Multinational Corporation

Diversification Strategy

Implementing Corporate Strategy: Management of the Multibusiness Firm

Current Trends in Strategic Management

Filters