Question 1

A company's competitive advantage is more durable when:

Accepted Answer

A)  barriers to imitation are low and there are few capable competitors. 
B)  barriers to imitation are high and there are many capable competitors. 
C)  barriers to imitation are high and the industry is stable. 
D)  the industry is stable and there are many capable competitors. 
E)  the industry is stable and barriers to imitation are low. 
A)  barriers to imitation are low and there are few capable competitors. 
B)  barriers to imitation are high and there are many capable competitors. 
C)  barriers to imitation are high and the industry is stable. 
D)  the industry is stable and there are many capable competitors. 
E)  the industry is stable and barriers to imitation are low.

Question 2

In the fashion industry, the time required to take a new product from design inception to placement in a retail store is known as customer response time.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is an important attribute for a product from a quality-as-reliability perspective?

Accepted Answer

A)  Styling 
B)  Aesthetic appeal 
C)  Wait time at the point of sale 
D)  Features 
E)  Performance 
A)  Styling 
B)  Aesthetic appeal 
C)  Wait time at the point of sale 
D)  Features 
E)  Performance

Question 4

The primary activities of the value chain include the design, creation, and delivery of the product, the product's marketing, and its support and after-sales service.

Accepted Answer

A) True 
 B)False

Question 5

A company's profitability depends on the value customers place on the company's products and a company's ability to reduce its production costs.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is true of the impact of high product quality on competitive advantage?

Accepted Answer

A)  It decreases the  utility of the products. 
B)  It lowers unit costs of the products. 
C)  It adversely affects employee productivity. 
D)  It limits the company's ability to differentiate its products. 
E)  It increases the need for after sales services. 
A)  It decreases the  utility of the products. 
B)  It lowers unit costs of the products. 
C)  It adversely affects employee productivity. 
D)  It limits the company's ability to differentiate its products. 
E)  It increases the need for after sales services.

Question 7

A value chain is a sequence of activities for transforming inputs into outputs that are valued by customers.

Accepted Answer

A) True 
 B)False

Question 8

A company's competitive advantage will not endure for long when that competitive advantage can be:

Accepted Answer

A)  quickly or easily duplicated by other companies. 
B)  protected by patents. 
C)  protected by significant barriers to imitation. 
D)  shared with other companies in the industry. 
E)  shielded by copyrights. 
A)  quickly or easily duplicated by other companies. 
B)  protected by patents. 
C)  protected by significant barriers to imitation. 
D)  shared with other companies in the industry. 
E)  shielded by copyrights.

Question 9

Anna bakes cookies for about $10 per batch, she charges customers $15 to a batch, and customers perceive that the cookies are worth $25 per batch. Anna's profit margin is:

Accepted Answer

A)  $5. 
B)  $7.5. 
C)  $10. 
D)  $15. 
E)  $25. 
A)  $5. 
B)  $7.5. 
C)  $10. 
D)  $15. 
E)  $25.

Question 10

Competitive advantage typically leads to:

Accepted Answer

A)  a defective business model. 
B)  average profitability within an industry. 
C)  superior profitability. 
D)  the Icarus paradox. 
E)  barriers to changes in the organization. 
A)  a defective business model. 
B)  average profitability within an industry. 
C)  superior profitability. 
D)  the Icarus paradox. 
E)  barriers to changes in the organization.

Question 11

The more utility a company creates for its customers, the more flexibility it has in determining prices.

Accepted Answer

A) True 
 B)False

Question 12

Benchmarking is a practice in which a company's performance is compared against that of other companies in different industries.

Accepted Answer

A) True 
 B)False

Question 13

Imitating a company's capabilities tends to be more difficult than imitating its basic and advanced factors of production.

Accepted Answer

A) True 
 B)False

Question 14

Benchmarking can be defined as the practice of:

Accepted Answer

A)  monitoring activities related to the design, creation, and delivery of a product, its marketing, and its support and after-sales service. 
B)  developing products that are new to the world or have superior attributes to existing products in the market. 
C)  measuring the time that it takes for a good to be delivered or a service to be performed. 
D)  measuring a company against the products, practices, and services of some of its most efficient global competitors. 
E)  analyzing the financial position of a company and creating the income statements and the balance sheets. 
A)  monitoring activities related to the design, creation, and delivery of a product, its marketing, and its support and after-sales service. 
B)  developing products that are new to the world or have superior attributes to existing products in the market. 
C)  measuring the time that it takes for a good to be delivered or a service to be performed. 
D)  measuring a company against the products, practices, and services of some of its most efficient global competitors. 
E)  analyzing the financial position of a company and creating the income statements and the balance sheets.

Question 15

Internal analysis is concerned with identifying a company's opportunities and threats.

Accepted Answer

A) True 
 B)False

Question 16

If a company's profitability is higher than the industry average, it has a competitive advantage.

Accepted Answer

A) True 
 B)False

Question 17

Identify and describe the four building blocks of competitive advantage. Provide an example of each using a real company situation.

Accepted Answer

The four building blocks of competitive

Question 18

Using the value chain model, which of the following primary activities is performed last, as inputs are transformed into outputs?

Accepted Answer

A)  Research and development 
B)  Marketing and sales 
C)  Service and support 
D)  Production 
E)  Human resources 
A)  Research and development 
B)  Marketing and sales 
C)  Service and support 
D)  Production 
E)  Human resources

Question 19

Analyze the relationships among distinctive competitive advantage, distinctive competencies, resources, and capabilities.

Accepted Answer

The primary objective of strategy is to

Question 20

Give one example of a firm that has achieved a distinctive competency in efficiency and describe that competency. Repeat for a firm with a distinctive competency in quality, innovation, and responsiveness to customers.

Accepted Answer

Walmart is able to buy its products in h

A company's competitive advantage is more durable when:

In the fashion industry, the time required to take a new product from design inception to placement in a retail store is known as customer response time.

Which of the following is an important attribute for a product from a quality-as-reliability perspective?

The primary activities of the value chain include the design, creation, and delivery of the product, the product's marketing, and its support and after-sales service.

A company's profitability depends on the value customers place on the company's products and a company's ability to reduce its production costs.

Which of the following is true of the impact of high product quality on competitive advantage?

A value chain is a sequence of activities for transforming inputs into outputs that are valued by customers.

A company's competitive advantage will not endure for long when that competitive advantage can be:

Anna bakes cookies for about $10 per batch, she charges customers $15 to a batch, and customers perceive that the cookies are worth $25 per batch. Anna's profit margin is:

Competitive advantage typically leads to:

The more utility a company creates for its customers, the more flexibility it has in determining prices.

Benchmarking is a practice in which a company's performance is compared against that of other companies in different industries.

Imitating a company's capabilities tends to be more difficult than imitating its basic and advanced factors of production.

Benchmarking can be defined as the practice of:

Internal analysis is concerned with identifying a company's opportunities and threats.

If a company's profitability is higher than the industry average, it has a competitive advantage.

Identify and describe the four building blocks of competitive advantage. Provide an example of each using a real company situation.

Using the value chain model, which of the following primary activities is performed last, as inputs are transformed into outputs?

Analyze the relationships among distinctive competitive advantage, distinctive competencies, resources, and capabilities.

Give one example of a firm that has achieved a distinctive competency in efficiency and describe that competency. Repeat for a firm with a distinctive competency in quality, innovation, and responsiveness to customers.

Strategic Leadership: Managing the Strategy-Making Process for Competitive Advantage

External Analysis: The Identification of Opportunities and Threats

Building Competitive Advantage Through Functional-Level Strategies

Business-Level Strategy

Business-Level Strategy and the Industry Environment

Strategy and Technology

Strategy in the Global Environment

Corporate-Level Strategy: Horizontal Integration, Vertical Integration, and Strategic Outsourcing

Corporate-Level Strategy: Related and Unrelated Diversification

Corporate Performance, Governance, and Business Ethics

Implementing Strategy Through Organization

Filters

Exam 3: Internal Analysis: Resources and Competitive Advantage

A company's competitive advantage is more durable when:

In the fashion industry, the time required to take a new product from design inception to placement in a retail store is known as customer response time.

Which of the following is an important attribute for a product from a quality-as-reliability perspective?

The primary activities of the value chain include the design, creation, and delivery of the product, the product's marketing, and its support and after-sales service.

A company's profitability depends on the value customers place on the company's products and a company's ability to reduce its production costs.

Which of the following is true of the impact of high product quality on competitive advantage?

A value chain is a sequence of activities for transforming inputs into outputs that are valued by customers.

A company's competitive advantage will not endure for long when that competitive advantage can be:

Anna bakes cookies for about $10 per batch, she charges customers $15 to a batch, and customers perceive that the cookies are worth $25 per batch. Anna's profit margin is:

Competitive advantage typically leads to:

The more utility a company creates for its customers, the more flexibility it has in determining prices.

Benchmarking is a practice in which a company's performance is compared against that of other companies in different industries.

Imitating a company's capabilities tends to be more difficult than imitating its basic and advanced factors of production.

Benchmarking can be defined as the practice of:

Internal analysis is concerned with identifying a company's opportunities and threats.

If a company's profitability is higher than the industry average, it has a competitive advantage.

Identify and describe the four building blocks of competitive advantage. Provide an example of each using a real company situation.

Using the value chain model, which of the following primary activities is performed last, as inputs are transformed into outputs?

Analyze the relationships among distinctive competitive advantage, distinctive competencies, resources, and capabilities.

Give one example of a firm that has achieved a distinctive competency in efficiency and describe that competency. Repeat for a firm with a distinctive competency in quality, innovation, and responsiveness to customers.

Strategic Leadership: Managing the Strategy-Making Process for Competitive Advantage

External Analysis: The Identification of Opportunities and Threats

Building Competitive Advantage Through Functional-Level Strategies

Business-Level Strategy

Business-Level Strategy and the Industry Environment

Strategy and Technology

Strategy in the Global Environment

Corporate-Level Strategy: Horizontal Integration, Vertical Integration, and Strategic Outsourcing

Corporate-Level Strategy: Related and Unrelated Diversification

Corporate Performance, Governance, and Business Ethics

Implementing Strategy Through Organization

Filters