Question 1

According to the RBV:

Accepted Answer

A)  Resources provide the building blocks for constructing a firm's strategy. 
B)  Capabilities provide the building blocks for constructing a firm's strategy. 
C)  Resources and capabilities provide the building blocks for constructing a firm's strategy. 
D)  Human resources provide the building blocks for constructing a firm's strategy. 
A)  Resources provide the building blocks for constructing a firm's strategy. 
B)  Capabilities provide the building blocks for constructing a firm's strategy. 
C)  Resources and capabilities provide the building blocks for constructing a firm's strategy. 
D)  Human resources provide the building blocks for constructing a firm's strategy. C

Question 2

Which of the following are isolating mechanisms identified by Penrose?

Accepted Answer

A)  path dependencies in resource development 
B)  firm-specific knowledge possessed by managers 
C)  entrepreneurial vision of managers 
D)  all of these 
A)  path dependencies in resource development 
B)  firm-specific knowledge possessed by managers 
C)  entrepreneurial vision of managers 
D)  all of these D

Question 3

Core competencies are ______ (choose all that apply).

Accepted Answer

A)  the glue that keeps teams together 
B)  the engine for new business development 
C)  the glue that binds suppliers and customers together 
D)  the engine for developing new collaborations 
A)  the glue that keeps teams together 
B)  the engine for new business development 
C)  the glue that binds suppliers and customers together 
D)  the engine for developing new collaborations B

Question 4

Dynamic capabilities are:

Accepted Answer

A)  the routines of a firm that create competitive advantage 
B)  the processes of a firm that are able to reconfigure resources to respond to changes in the marketplace 
C)  the unique resources of a firm that achieve sustainable competitive advantage 
D)  the dynamic ways that firms use to achieve temporary advantages until competitors imitate them 
A)  the routines of a firm that create competitive advantage 
B)  the processes of a firm that are able to reconfigure resources to respond to changes in the marketplace 
C)  the unique resources of a firm that achieve sustainable competitive advantage 
D)  the dynamic ways that firms use to achieve temporary advantages until competitors imitate them

Question 5

The dynamic capabilities approach constitutes a development from which of the following:

Accepted Answer

A)  resource-based view 
B)  porter's five forces 
C)  porter's diamond 
D)  porter's value chain 
A)  resource-based view 
B)  porter's five forces 
C)  porter's diamond 
D)  porter's value chain

Question 6

Which of the following has been put forward as a critique of the RBV?

Accepted Answer

A)  retrospective analysis not predictive 
B)  resources are too broad and vague a concept 
C)  what is inimitable is too hard to define in advance 
D)  all of these 
A)  retrospective analysis not predictive 
B)  resources are too broad and vague a concept 
C)  what is inimitable is too hard to define in advance 
D)  all of these

Question 7

In order to be useful, tacit knowledge must be:

Accepted Answer

A)  coordinated 
B)  restricted 
C)  secret 
D)  codified 
A)  coordinated 
B)  restricted 
C)  secret 
D)  codified

Question 8

The value chain ______.

Accepted Answer

A)  creates value by delivering a product or service at a price that affords an organization a profit margin 
B)  is a form of outsourcing that allows different suppliers to make a profit 
C)  is a set of contractually tight agreements that chain organizations in relations of dependency 
D)  all of these 
A)  creates value by delivering a product or service at a price that affords an organization a profit margin 
B)  is a form of outsourcing that allows different suppliers to make a profit 
C)  is a set of contractually tight agreements that chain organizations in relations of dependency 
D)  all of these

Question 9

Knowledge management is a managerial practice that seeks to:

Accepted Answer

A)  identify knowledge in an organization 
B)  leverage knowledge in an organization 
C)  control and create knowledge in an organization 
D)  all of these 
A)  identify knowledge in an organization 
B)  leverage knowledge in an organization 
C)  control and create knowledge in an organization 
D)  all of these

Question 10

Which of these is NOT one of the central factors determining the sustainability of a firm's competitive advantage?

Accepted Answer

A)  durability 
B)  transparency 
C)  transferability 
D)  accessibility 
A)  durability 
B)  transparency 
C)  transferability 
D)  accessibility

Question 11

Which of the following is NOT an example of dynamic capabilities?

Accepted Answer

A)  state-of-the-art machinery 
B)  customer and business relationships 
C)  reputation 
D)  organizational culture and values 
A)  state-of-the-art machinery 
B)  customer and business relationships 
C)  reputation 
D)  organizational culture and values

Question 12

Which of the following are managerial implications of the resource based-view?

Accepted Answer

A)  overcoming disadvantages 
B)  realizing potential 
C)  self-understanding 
D)  all of these 
A)  overcoming disadvantages 
B)  realizing potential 
C)  self-understanding 
D)  all of these

Question 13

Which of the following are types of knowledge for knowledge management?

Accepted Answer

A)  innovative 
B)  tacit 
C)  examinable 
D)  creative 
A)  innovative 
B)  tacit 
C)  examinable 
D)  creative

Question 14

Which of the following is NOT an example of dynamic capabilities?

Accepted Answer

A)  technological know-how 
B)  intellectual property 
C)  business process knowledge 
D)  friendly working environment 
A)  technological know-how 
B)  intellectual property 
C)  business process knowledge 
D)  friendly working environment

Question 15

Which of the following is a key means through which knowledge is produced in an organization?

Accepted Answer

A)  socialization 
B)  intensification 
C)  randomization 
D)  psychological analysis 
A)  socialization 
B)  intensification 
C)  randomization 
D)  psychological analysis

Question 16

Sale at ______ represents the point of exchange at which perceived producer value equals consumer value.

Accepted Answer

A)  any price 
B)  a price which is the maximum that the seller can command 
C)  a mutually agreed price between seller and buyer 
D)  bargain basement prices 
A)  any price 
B)  a price which is the maximum that the seller can command 
C)  a mutually agreed price between seller and buyer 
D)  bargain basement prices

Question 17

Which of the following statements is correct?

Accepted Answer

A)  It is more difficult to assess tangible resources than intangible ones. 
B)  It is more difficult to assess intangible resources than tangible ones. 
C)  Tangible resources cannot be assessed. 
D)  Intangible resources cannot be assessed. 
A)  It is more difficult to assess tangible resources than intangible ones. 
B)  It is more difficult to assess intangible resources than tangible ones. 
C)  Tangible resources cannot be assessed. 
D)  Intangible resources cannot be assessed.

Question 18

The RBV focuses on internal factors because:

Accepted Answer

A)  An organization has control over its external factors only. 
B)  An organization has control over its internal factors only. 
C)  An organization has control over both internal and external factors. 
D)  An organization has no control over either internal or external factors. 
A)  An organization has control over its external factors only. 
B)  An organization has control over its internal factors only. 
C)  An organization has control over both internal and external factors. 
D)  An organization has no control over either internal or external factors.

Question 19

Which of the following statements is correct?

Accepted Answer

A)  Capabilities exist in functional areas, such as HR and marketing. 
B)  Capabilities occur when different functional capabilities are combined and integrated. 
C)  Any capability is only a source of competitive advantage when it is stronger than those of its immediate competitors. 
D)  all of these 
A)  Capabilities exist in functional areas, such as HR and marketing. 
B)  Capabilities occur when different functional capabilities are combined and integrated. 
C)  Any capability is only a source of competitive advantage when it is stronger than those of its immediate competitors. 
D)  all of these

Question 20

The VRIN characteristics stand for:

Accepted Answer

A)  valuable, real, imitable, non-substitutable 
B)  valuable, rare, industrial, non-substitutable 
C)  valuable, real, independent, non-substitutable 
D)  valuable, rare, imperfectly imitable, non-substitutable 
A)  valuable, real, imitable, non-substitutable 
B)  valuable, rare, industrial, non-substitutable 
C)  valuable, real, independent, non-substitutable 
D)  valuable, rare, imperfectly imitable, non-substitutable

According to the RBV:

Which of the following are isolating mechanisms identified by Penrose?

Core competencies are ______ (choose all that apply).

Dynamic capabilities are:

The dynamic capabilities approach constitutes a development from which of the following:

Which of the following has been put forward as a critique of the RBV?

In order to be useful, tacit knowledge must be:

The value chain ______.

Knowledge management is a managerial practice that seeks to:

Which of these is NOT one of the central factors determining the sustainability of a firm's competitive advantage?

Which of the following is NOT an example of dynamic capabilities?

Which of the following are managerial implications of the resource based-view?

Which of the following are types of knowledge for knowledge management?

Which of the following is NOT an example of dynamic capabilities?

Which of the following is a key means through which knowledge is produced in an organization?

Sale at ______ represents the point of exchange at which perceived producer value equals consumer value.

Which of the following statements is correct?

The RBV focuses on internal factors because:

Which of the following statements is correct?

The VRIN characteristics stand for:

Strategy: Theory Practice an Introduction

Strategy, Competitive Forces and Positioning

Strategy and Innovation

Strategy Make or Buy

Strategy and Alliances

Strategy Going Global

Strategy and Corporate Governance

Strategy Processes

Strategy Practice

Strategy and Organizational Politics

Strategy and Strategic Change

Strategy Reconsidered

Filters

Exam 3: Strategy, Resources and Capabilities

According to the RBV:

Which of the following are isolating mechanisms identified by Penrose?

Core competencies are ______ (choose all that apply).

Dynamic capabilities are:

The dynamic capabilities approach constitutes a development from which of the following:

Which of the following has been put forward as a critique of the RBV?

In order to be useful, tacit knowledge must be:

The value chain ______.

Knowledge management is a managerial practice that seeks to:

Which of these is NOT one of the central factors determining the sustainability of a firm's competitive advantage?

Which of the following is NOT an example of dynamic capabilities?

Which of the following are managerial implications of the resource based-view?

Which of the following are types of knowledge for knowledge management?

Which of the following is NOT an example of dynamic capabilities?

Which of the following is a key means through which knowledge is produced in an organization?

Sale at ______ represents the point of exchange at which perceived producer value equals consumer value.

Which of the following statements is correct?

The RBV focuses on internal factors because:

Which of the following statements is correct?

The VRIN characteristics stand for:

Strategy: Theory Practice an Introduction

Strategy, Competitive Forces and Positioning

Strategy and Innovation

Strategy Make or Buy

Strategy and Alliances

Strategy Going Global

Strategy and Corporate Governance

Strategy Processes

Strategy Practice

Strategy and Organizational Politics

Strategy and Strategic Change

Strategy Reconsidered

Filters