Question 1

With some ingenuity, it may be possible to develop innovative strategies that turn apparently inconsequential strengths into valuable capabilities

Accepted Answer

A) True 
 B)False

Question 2

Which type of source of competitive advantage has become most prominent regarding strategy?

Accepted Answer

A) Competitive advantage through the development and deployment of tangible resources and capabilities 
B) Competitive advantage through the development and deployment of intangible resources and capabilities 
C) Competitive advantage through the development of a stronger market position and customer loyalty 
D) Competitive advantage through the development and deployment of resources and capabilities 
A) Competitive advantage through the development and deployment of tangible resources and capabilities 
B) Competitive advantage through the development and deployment of intangible resources and capabilities 
C) Competitive advantage through the development of a stronger market position and customer loyalty 
D) Competitive advantage through the development and deployment of resources and capabilities

Question 3

The three main types of resources exist: tangible, intangible, and human

Accepted Answer

A) True 
 B)False

Question 4

Firms such as Philip Morris, Coca-cola, Harley Davidson, Johnson & Johnson, Google, UPS, and 3M are firms that:

Accepted Answer

A) Illustrate the fact that even large firms can face law suits because of illegal or unethical behaviors 
B) Exhibit poor reputational assets 
C) Do not seem to possess many specific competencies 
D) Illustrate the value of intangible resources (such as reputation and brand name) 
A) Illustrate the fact that even large firms can face law suits because of illegal or unethical behaviors 
B) Exhibit poor reputational assets 
C) Do not seem to possess many specific competencies 
D) Illustrate the value of intangible resources (such as reputation and brand name)

Question 5

What does "Asset mass efficiencies" mean for a firm?

Accepted Answer

A) A firm should try to corner the market in a scarce resource. 
B) A strong initial position for a specific resource facilitates the subsequent accumulation of more of that resource 
C) It means the achievement of economies of scale through selling to a mass-market. 
D) For the same resource, a larger amount is always more productive and efficient than a smaller one 
A) A firm should try to corner the market in a scarce resource. 
B) A strong initial position for a specific resource facilitates the subsequent accumulation of more of that resource 
C) It means the achievement of economies of scale through selling to a mass-market. 
D) For the same resource, a larger amount is always more productive and efficient than a smaller one

Question 6

Is it possible in large organizations that top managers do not have full knowledge of their firm's competencies?

Accepted Answer

This scenario is highly probable.
In suc

Question 7

Honda, Canon, and 3M Corporation are illustrations of:

Accepted Answer

A) Firms that suffer from an obvious mismanagement of their resources and capabilities 
B) Firms that nurture and leverage some technological core competencies 
C) Firms that benefited from a stable environment that contributed to the management of their core competencies 
D) Firms that manage their capabilities only by a few "rules-of-thumb" 
A) Firms that suffer from an obvious mismanagement of their resources and capabilities 
B) Firms that nurture and leverage some technological core competencies 
C) Firms that benefited from a stable environment that contributed to the management of their core competencies 
D) Firms that manage their capabilities only by a few "rules-of-thumb"

Question 8

Core competences possess several attributes:

Accepted Answer

A) They provide a basis for entering new markets and make a disproportionate contribution to the customer value 
B) They provide a basis for building new technological processes and offer a valuable product or service to a firm's customers 
C) They deliver value to a firm and provide a basis for entering international markets 
D) They allow top managers to understand the human resources of their firm and to define and implement a technological strategy 
A) They provide a basis for entering new markets and make a disproportionate contribution to the customer value 
B) They provide a basis for building new technological processes and offer a valuable product or service to a firm's customers 
C) They deliver value to a firm and provide a basis for entering international markets 
D) They allow top managers to understand the human resources of their firm and to define and implement a technological strategy

Question 9

Why do different names exist related to the central notion of competence, such as capability, distinctive competence, core competence, dynamic capability, etc?

Accepted Answer

Different names exist for the following

Question 10

A firm's human resources are:

Accepted Answer

A) The people employed by the organization 
B) The expertise, the skills, the commitment and motivation offered by the employees of the organization 
C) The knowledge possessed by the employees of the organization 
D) The psychological variables embedded in the organization's employees 
A) The people employed by the organization 
B) The expertise, the skills, the commitment and motivation offered by the employees of the organization 
C) The knowledge possessed by the employees of the organization 
D) The psychological variables embedded in the organization's employees

Question 11

In the case where a firm possesses a "key weakness", the firm:

Accepted Answer

A) Is likely to be stuck with such a weakness in the short to medium term 
B) Could look at forming an alliance or outsourcing to offset the weakness 
C) Should examine ways to diminish the impact of the weakness 
D) Should consider all of the above 
A) Is likely to be stuck with such a weakness in the short to medium term 
B) Could look at forming an alliance or outsourcing to offset the weakness 
C) Should examine ways to diminish the impact of the weakness 
D) Should consider all of the above

Question 12

Ultimately, appraising resources and capabilities relies upon:

Accepted Answer

A) The theoretical understanding of the analyst. 
B) Sophisticated statistical tools 
C) Benchmarking tools 
D) Insight and understanding of the specific industry and company. 
A) The theoretical understanding of the analyst. 
B) Sophisticated statistical tools 
C) Benchmarking tools 
D) Insight and understanding of the specific industry and company.

Question 13

Until about 20 years ago, industry attractiveness was viewed as the main reason why some businesses were more profitable than others..

Accepted Answer

A) True 
 B)False

Question 14

The ability of a firm achieving a good level of profit thanks to its resources and capabilities depends on:

Accepted Answer

A) Many factors in addition to the firm's competences 
B) The ability of top managers to effectively and efficiently guide the firm through the strategic management process 
C) Its ability to use them to establish and to sustain, competitive advantage and to appropriate the returns by deploying its competitive advantage 
D) Its ability to perform better than its rivals, to extract more value than similar firms in the same strategic group, and to distribute the value to its stakeholders 
A) Many factors in addition to the firm's competences 
B) The ability of top managers to effectively and efficiently guide the firm through the strategic management process 
C) Its ability to use them to establish and to sustain, competitive advantage and to appropriate the returns by deploying its competitive advantage 
D) Its ability to perform better than its rivals, to extract more value than similar firms in the same strategic group, and to distribute the value to its stakeholders

Question 15

Nowadays, many firms are devoting a lot of effort to manage their human resources, especially through:

Accepted Answer

A) Training them to operate in cross-functional teams. 
B) Short-term contracts. 
C) Appraisals focused on assessing results and individual competences. 
D) Ensuring managers are trained in peopld.management. 
A) Training them to operate in cross-functional teams. 
B) Short-term contracts. 
C) Appraisals focused on assessing results and individual competences. 
D) Ensuring managers are trained in peopld.management.

Question 16

How are industry attractiveness and competitive advantage, on the one hand, related to Ricardian and monopoly rents, on the other?

Accepted Answer

Industry attractiveness and competitive

Question 17

When are resources and competencies valuable for a firm?

Accepted Answer

They are valuable when they allow a firm

Question 18

If a resource or capability is durable, it will confer a sustainable competitive advantage upon the firm.

Accepted Answer

A) True 
 B)False

Question 19

What are the different families of resources that can be identified?

Accepted Answer

A) Intangible and physical resources 
B) Tangible, intangible, human resources, technological, and cultural resources 
C) Tangible, hybrid, organizational and technological resources 
D) Tangible, intangible, and human resources 
A) Intangible and physical resources 
B) Tangible, intangible, human resources, technological, and cultural resources 
C) Tangible, hybrid, organizational and technological resources 
D) Tangible, intangible, and human resources

Question 20

The previous chapters of the book have focused on:

Accepted Answer

A) What commercial firms are in general trying to achieve - chiefly profit. 
B) The analysis of the internal environment 
C) The identification of profitable opportunities in the external environment 
D) Both a and c above 
A) What commercial firms are in general trying to achieve - chiefly profit. 
B) The analysis of the internal environment 
C) The identification of profitable opportunities in the external environment 
D) Both a and c above

With some ingenuity, it may be possible to develop innovative strategies that turn apparently inconsequential strengths into valuable capabilities

Which type of source of competitive advantage has become most prominent regarding strategy?

The three main types of resources exist: tangible, intangible, and human

Firms such as Philip Morris, Coca-cola, Harley Davidson, Johnson & Johnson, Google, UPS, and 3M are firms that:

What does "Asset mass efficiencies" mean for a firm?

Is it possible in large organizations that top managers do not have full knowledge of their firm's competencies?

Honda, Canon, and 3M Corporation are illustrations of:

Core competences possess several attributes:

Why do different names exist related to the central notion of competence, such as capability, distinctive competence, core competence, dynamic capability, etc?

A firm's human resources are:

In the case where a firm possesses a "key weakness", the firm:

Ultimately, appraising resources and capabilities relies upon:

Until about 20 years ago, industry attractiveness was viewed as the main reason why some businesses were more profitable than others..

The ability of a firm achieving a good level of profit thanks to its resources and capabilities depends on:

Nowadays, many firms are devoting a lot of effort to manage their human resources, especially through:

How are industry attractiveness and competitive advantage, on the one hand, related to Ricardian and monopoly rents, on the other?

When are resources and competencies valuable for a firm?

If a resource or capability is durable, it will confer a sustainable competitive advantage upon the firm.

What are the different families of resources that can be identified?

The previous chapters of the book have focused on:

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

With some ingenuity, it may be possible to develop innovative strategies that turn apparently inconsequential strengths into valuable capabilities

Which type of source of competitive advantage has become most prominent regarding strategy?

The three main types of resources exist: tangible, intangible, and human

Firms such as Philip Morris, Coca-cola, Harley Davidson, Johnson & Johnson, Google, UPS, and 3M are firms that:

What does "Asset mass efficiencies" mean for a firm?

Is it possible in large organizations that top managers do not have full knowledge of their firm's competencies?

Honda, Canon, and 3M Corporation are illustrations of:

Core competences possess several attributes:

Why do different names exist related to the central notion of competence, such as capability, distinctive competence, core competence, dynamic capability, etc?

A firm's human resources are:

In the case where a firm possesses a "key weakness", the firm:

Ultimately, appraising resources and capabilities relies upon:

Until about 20 years ago, industry attractiveness was viewed as the main reason why some businesses were more profitable than others..

The ability of a firm achieving a good level of profit thanks to its resources and capabilities depends on:

Nowadays, many firms are devoting a lot of effort to manage their human resources, especially through:

How are industry attractiveness and competitive advantage, on the one hand, related to Ricardian and monopoly rents, on the other?

When are resources and competencies valuable for a firm?

If a resource or capability is durable, it will confer a sustainable competitive advantage upon the firm.

What are the different families of resources that can be identified?

The previous chapters of the book have focused on:

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