Exam 3: Internal Analysis: Strengths, Weaknesses and Competitive Advantage

The management at WonderPlanners Inc. wants to improve their production and operating capabilities by adopting a leaner process. As such, the employees of WonderPlanners are asked to eliminate the excess use of efforts and materials. WonderPlanners Inc. finally manages to achieve a competitive advantage after its employees follow these new practices repeatedly over time. From the information given in this scenario, we can infer that WonderPlanners Inc. has developed __________.

A firm's advantage becomes stronger if it develops ___, processes that are designed to continuously expand existing resources or to improve or modify operating capabilities.

State the difference between operating capabilities and dynamic capabilities.

Which of the following statements is true of the company diamond tool?

Procedures, processes, and routines that continuously expand existing resources or improve operating capabilities most accurately define the term __________.

Weavers Inc., a popular clothing brand, has been providing its customers with the best quality silk products for many years. The employees of Weavers Inc. use pink berry silkworms for their silk products and weave their greased silk threads in such a way that they produce different shades of colors when held at different angles. Weavers Inc. has been providing unmatched service for millions of customers around the world. Other companies have tried to imitate their products and services but have not been successful. Few competitors who captured these silkworms did not know the precise temperatures that were essential for their breeding and survival. Which of the following factors of inimitability does this scenario regarding Weavers Inc. best reflect?

The procedures, processes, or routines for delivering value to customers, employees, suppliers, or investors most accurately define the term __________.

All assets, capabilities, organizational processes, firm attributes, information, knowledge, and so on, controlled by a firm that enable the firm to conceive of and implement strategies that improve its efficiency and effectiveness most accurately defines the term __________.

Time compression diseconomies happen when __________.

The exclusive sofa company, Seaterz Inc., has the best resources in terms of equipment, employees, infrastructure, and technology. Yet, it is not able to keep pace with its competitor SoftSofa Corp. After extensive analyses, the CEO of Seaterz stated the reason for their limitation was that their company did not have a definite administrative system to audit and retain the profits created by the employees. Which of the following statements can be inferred about Seaterz Inc. from this scenario?

Which of the following is an advantage of the value chain?

LittleHut Inc., an international food company, has several resources to its credit. Over the years, the company has acquired factories, machinery, in-depth knowledge, and a stable reputation. The elements mentioned in this scenario can be best categorized as LittleHut Inc.'s __________.

The employees at Voyage Ink Corp. were asked to draw a chart that explains the elements which go into making one of their products. They were asked to create a diagram showing the different types of materials that help create the whole product. Which of the following are the employees at Voyage Ink Corp. creating in this scenario?

Which of the following is a disadvantage of the value chain process?

The customers, investors, and employees of Pisces Inc. are invariably satisfied with the services and culture of the company. Pisces Inc. has delivered on all its promises and has continued to create a sense of worth among its varied audiences. Which of the following terms best categorizes the elements of Pisces Inc. described in this scenario explaining?

What is an asset and how does it create an economic value to an organization?

Value is usually created when ________.

Define capabilities and briefly describe the two types of capabilities.

A firm's values and rankings of what is most important most accurately defines the term __________.

Bertha, a business analyst, wants to analyze Shop Wise Inc., a software company. She wants to know how the company, supplying its products and services for over a decade, still maintains competitive advantage over other companies. She does the analysis simply by walking around the company and taking notes. She even tries out one of the company's software programs and finds it useful. This scenario illustrates the use of __________.