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

A media house wanted to report on the continued success of the software company, AlphaDigiPro Inc. The reporters decided to assess the company in two ways. They spoke to the top management employees and handed out questionnaires to other employees. The results of these data collection techniques helped the media house construct a good article. This scenario illustrates the use of __________.

Which of the following best describes competitive parity?

ZipTag Inc. is an online company that allows venders of varied products to display their products to prospective buyers. This company has been providing service to both customers and sellers and has established itself in the market as a credible company to conduct business with. This has caused more dealers to display their products in ZipTag as they trust that the company will provide the necessary advertising to pull in prospective customers. This is an example of a __________.

Which of the following statements best describes a firm's capabilities?

Pinto's Home Bakes is a 64-year-old company established in 1950. The company has been providing freshly baked breads and pastries daily for many years and has created a high reputation for itself. Its customers have always been satisfied with its timely service and delivery. The customers of Pinto's Home Bakes state that they prefer to go this deli because the products it delivers are never stale and have a unique flavor. Which of the following has Pinto's Home Bakes created for its customers?

Speed Express, a courier company, proves to be a challenge to its competitors. The technology, personnel, services, and organizational structure of the company are bound together to create a system widely appreciated by its customers. Speed Express has state-of-the-art facilities for its transportation, delivery, and packaging operations. Speed Express also has a range of travelling bags and brand of wrist watches. The company's success rests on the complex interplay between its functions, products, and operations. Customers remain loyal to the company and prefer it over other brands and services. Which of the following factors of inimitability does Speed Express have?

Two years of research and $20 million in investment a year for the next two years is required to get results for MediCure's new pharmaceutical experiment. The CEO of a rival company, PolyMed Inc., decides to spend $60 million on only one year of research. However, PolyMed fails to get the same results. Which of the following best reflects the factor that acted as a barrier to imitation for PolyMed Inc.?

Lynx Inc., a startup firm, has been trying to sell its product to customers. However, the customers do not perceive any value in the product and neither do they find it unique in any way. Lynx Inc. also does not have proper systems and processes that can help in auditing and retaining the profits created by their employees. The company has drained its funds in the process, but it has not been able to successfully establish itself in the market. As a result, the firm has not been successful to its stakeholders. Ultimately, the board of directors at Lynx Inc. decides to shut it down completely. This scenario best exemplifies __________.

The employees at Williamson Corp. are finding it hard to manage their daily work in an efficient manner. They are consistently unable to meet their daily targets because they have an unorganized workload, The employees request that the managers create a system where work is prioritized according to the level of importance. This system is put into practice, and the employees find it easier to handle work in a systematic and sequential manner. From the information given in this scenario, we can infer that Williamson Corp. has worked out its __________.

Neptune LLC manufactures electronic products. Its employees are given specific guidelines on how to best utilize the company's resources and capabilities. The employees are expected to follow these guidelines during both lean and peak seasons. Which of the following terms best reflects the guidelines that the employees of Neptune LLC are expected to follow?

Rize Inc. has been running efficiently as a real estate organization for 25 years. It has consistently provided customer satisfaction by maintaining a customer-friendly culture in the organization. Their competitors have not been able to replicate Rize's services. This has helped then generate and hold on to profits accrued by its vast and rare resource pool. This is an example of __________.

Which of the following is true of tacit knowledge?

Identify a true statement about tacit knowledge.

Resources that create ________ can be defined as those that create economic value for a firm.

Runathon Inc. opened a store that displayed shoe brands only. The employees were polite and professional. Runathon also had experts who advised customers on the type of shoe best suited for a particular sport. A few years later, another company called FitRight Corp. opened next to Runathon. Although FitRight stocked shoe brands, sportswear, and other gear, it was not as profitable as Runathon because its salespeople were not as experienced and knowledgeable. Which of the following factors of inimitability did Runathon Inc. have?

A visual description of the steps required to turn raw materials into finished products and/or services most accurately defines the term __________.

Which of the following best describes rarity?

Leon Royal Hotel was the first inn in the county of Belvore. It had started out with onlyseven rooms, providing bed and breakfast to travelers who came to Belvore. After 20 years of giving unique and satisfying service to its customers, Leon Royal Hotels grew to have more than 1,500 rooms. The facilities and services provided by the hotel made it one of the best hotels in the Belvor Meltown Inn started out a decade after the Leon Royal Hotel opened. The Meltown Inn started losing profits and eventually shut down in 1968 due to bad service. Which of the following factors of inimitability is explained in this scenario?

Explicit knowledge ________.

What is an intangible resource?