Exam 3: Internal Analysis: Resources and Competitive Advantage

Intel's invention of the microprocessor in the early 1970s, Cisco's development of the router for routing data over the Internet in the mid-1980s, and Apple's development of the iPod, iPhone, and iPad in the 2000s can be referred to as _____ innovations.

Research and development activities are concerned with:

Evaluate and comment on this statement: "No competitive advantage lasts forever."

Resources can be considered valuable if they enable a company to create a strong demand for its products or if it reduces the costs of producing its products.

Based on the VRIO framework, a resource can be considered a source of competitive advantage if it is:

Ray, a toymaker, knits a stuffed unicorn for Belle. Which function of the value chain is illustrated in this scenario?

When a company has differentiated products, they have less pricing options.

When Rollie's car wash began to lose business to rivals, Rollie read publications for car wash owners to learn the best practices in the industry. Then she implemented the best practices. Rollie is using ____ to improve her car wash.

Resources:

Ted is an accountant at ABC Company. He calculates the difference between total revenues and total costs before tax. Ted calculates the:

The term value chain refers to the idea that a company is:

The ability of established competitors to imitate the competitive advantage of a rival is limited by factors such as existing strategic commitments and low absorptive capacity.

The price a company charges for a good or service is typically more than the utility placed on that good or service by the customer.

The VRIO model is designed to help companies assess the quality of their resources and identify sources of competitive advantage.

Cost accountants are responsible for gathering and monitoring data used for controlling the organization's costs. In which value chain activity do cost accountants work?

Which of the following support activities in the value chain refers to the transmission of physical materials from procurement through production and into distribution?

Together with an analysis of the company's external environment, internal analysis gives managers the information they need to choose the business model and strategies that will enable their company to attain a sustained competitive advantage.

Donna can make a chair for about $100, she charges customers $150 to buy the chair, and customers perceive that the chair is worth $225. In this case, the consumer surplus is:

A resource is inimitable if competitors are able to copy it easily.