Question 1

In fast changing environments

Accepted Answer

A) a firm should focus on its oldest markets. 
B) a firm may define itself by its resources and capabilities. 
C) both a and b. 
D) neither a nor b. 
A) a firm should focus on its oldest markets. 
B) a firm may define itself by its resources and capabilities. 
C) both a and b. 
D) neither a nor b.

Question 2

Combining several resources may create capabilities that deliver superior profitability.

Accepted Answer

A) True 
 B)False

Question 3

In the automobile industry resources such as brand strength

Accepted Answer

A) are common enough; pick one, then use it. 
B) can be bought - look at jaguar (three owners in the last ten years). 
C) cannot be easily acquired. 
D) a and b. 
A) are common enough; pick one, then use it. 
B) can be bought - look at jaguar (three owners in the last ten years). 
C) cannot be easily acquired. 
D) a and b.

Question 4

The hierarchy of capabilities explains

Accepted Answer

A) how capabilities to do market research time-effectively and buy advertising cost-effectively, belong under marketing capabilities. 
B) how capabilities are made up of processes that use resources to achieve a desired result. 
C) how the CEO should have more capabilities than the CFO, the COO etc. 
D) how core capabilities are more valuable than threshold capabilities. 
A) how capabilities to do market research time-effectively and buy advertising cost-effectively, belong under marketing capabilities. 
B) how capabilities are made up of processes that use resources to achieve a desired result. 
C) how the CEO should have more capabilities than the CFO, the COO etc. 
D) how core capabilities are more valuable than threshold capabilities.

Question 5

Competitive advantage is generally the amount by which one firm's profitability exceeds another's in the same industry.

Accepted Answer

A) True 
 B)False

Question 6

Apple and 3M's ability to develop genuinely new products are

Accepted Answer

A) part of their corporate structures. 
B) due entirely to their unique corporate cultures. 
C) lucky coincidences. 
D) one of their core research and development capabilities. 
A) part of their corporate structures. 
B) due entirely to their unique corporate cultures. 
C) lucky coincidences. 
D) one of their core research and development capabilities.

Question 7

Truly successful firms

Accepted Answer

A) are told their strengths and weaknesses by external experts. 
B) are honest enough to recognize their own true strengths and weaknesses themselves. 
C) obtain confirmation of their strengths and weaknesses from outside experts. 
D) b and c. 
A) are told their strengths and weaknesses by external experts. 
B) are honest enough to recognize their own true strengths and weaknesses themselves. 
C) obtain confirmation of their strengths and weaknesses from outside experts. 
D) b and c.

Question 8

Dynamic capabilities

Accepted Answer

A) are the capacity to learn new capabilities. 
B) can be acquired through 'reverse takeovers'. 
C) develop rapidly in some industries, then die. 
D) b and c. 
A) are the capacity to learn new capabilities. 
B) can be acquired through 'reverse takeovers'. 
C) develop rapidly in some industries, then die. 
D) b and c.

Question 9

Two factors contribute to the efficiency and effectiveness with which teams of individuals perform repetitive patterns of activity:

Accepted Answer

A) demand and supply. 
B) organizational learning. 
C) culture. 
D) b and c. 
A) demand and supply. 
B) organizational learning. 
C) culture. 
D) b and c.

Question 10

We need to appraise our resources and capabilities against

Accepted Answer

A) our past record; we must continually improve. 
B) the best firms around the world, no matter in what country, market or industry. 
C) our competitors' resources and capabilities. 
D) The best that our competitors might attain in the future. 
A) our past record; we must continually improve. 
B) the best firms around the world, no matter in what country, market or industry. 
C) our competitors' resources and capabilities. 
D) The best that our competitors might attain in the future.

Question 11

The difference between a capability and a competence is

Accepted Answer

A) a competence is core to a firm's operations. 
B) a capability is necessary to survive, but a competence is essential to thrive. 
C) a competence is necessary to survive, but a capability is essential to thrive. 
D) no difference in this textbook where they are taken as interchangeable. 
A) a competence is core to a firm's operations. 
B) a capability is necessary to survive, but a competence is essential to thrive. 
C) a competence is necessary to survive, but a capability is essential to thrive. 
D) no difference in this textbook where they are taken as interchangeable.

Question 12

Organizational culture is

Accepted Answer

A) the way a firm is organized. 
B) a firm's deeply held values. 
C) a firm's deeply held traditions and social norms. 
D) b and c. 
A) the way a firm is organized. 
B) a firm's deeply held values. 
C) a firm's deeply held traditions and social norms. 
D) b and c.

Question 13

Prahalad and Hamel's 1990 paper

Accepted Answer

A) summarized the main constraints of the external environment. 
B) summarized the strategic positioning school's point of view. 
C) won that year's nobel prize for economics. 
D) kick-started the modern resource-based view of the firm. 
A) summarized the main constraints of the external environment. 
B) summarized the strategic positioning school's point of view. 
C) won that year's nobel prize for economics. 
D) kick-started the modern resource-based view of the firm.

Question 14

A capability that is needed to win versus competitors is a core competence.

Accepted Answer

A) True 
 B)False

Question 15

Resources and capabilities need to be appraised against two key criteria:

Accepted Answer

A) cost and value. 
B) strengths and weaknesses. 
C) opportunities and threats. 
D) their importance and strengths and weaknesses compared with the competition. 
A) cost and value. 
B) strengths and weaknesses. 
C) opportunities and threats. 
D) their importance and strengths and weaknesses compared with the competition.

Question 16

An organizational capability requires

Accepted Answer

A) many unique resources. 
B) just one unique resource. 
C) no unique resources. 
D) individuals to coordinate with each other, and some capital or technology, to achieve a valuable transformation to goods or services. 
A) many unique resources. 
B) just one unique resource. 
C) no unique resources. 
D) individuals to coordinate with each other, and some capital or technology, to achieve a valuable transformation to goods or services.

Question 17

Dynamic capabilities are useful in fast changing environments.

Accepted Answer

A) True 
 B)False

Question 18

The value of a brand is the confidence it instils in customers regarding the expected benefits associated with that brand.

Accepted Answer

A) True 
 B)False

Question 19

Tight complex organizational routines

Accepted Answer

A) are based on unique corporate structures. 
B) can be copied if rivals hire the right employees. 
C) are complex capabilities that are hard for rivals to replicate. 
D) a and c. 
A) are based on unique corporate structures. 
B) can be copied if rivals hire the right employees. 
C) are complex capabilities that are hard for rivals to replicate. 
D) a and c.

Question 20

Resources are ultimately more important than capabilities.

Accepted Answer

A) True 
 B)False

In fast changing environments

Combining several resources may create capabilities that deliver superior profitability.

In the automobile industry resources such as brand strength

The hierarchy of capabilities explains

Competitive advantage is generally the amount by which one firm's profitability exceeds another's in the same industry.

Apple and 3M's ability to develop genuinely new products are

Truly successful firms

Dynamic capabilities

Two factors contribute to the efficiency and effectiveness with which teams of individuals perform repetitive patterns of activity:

We need to appraise our resources and capabilities against

The difference between a capability and a competence is

Organizational culture is

Prahalad and Hamel's 1990 paper

A capability that is needed to win versus competitors is a core competence.

Resources and capabilities need to be appraised against two key criteria:

An organizational capability requires

Dynamic capabilities are useful in fast changing environments.

The value of a brand is the confidence it instils in customers regarding the expected benefits associated with that brand.

Tight complex organizational routines

Resources are ultimately more important than capabilities.

The Concept of Stategy

Industry Analysis

The Nature and Sources of Competitive

Industry Evolution and Strategic Change

Technology-Based Industries and the Management of Innovation

Corporate Stategy

Realizing Stategy

Global Strategies and the Multinational Corporation

Corporate Responsibility

Filters

Exam 3: Resources and Capabilities

In fast changing environments

Combining several resources may create capabilities that deliver superior profitability.

In the automobile industry resources such as brand strength

The hierarchy of capabilities explains

Competitive advantage is generally the amount by which one firm's profitability exceeds another's in the same industry.

Apple and 3M's ability to develop genuinely new products are

Truly successful firms

Dynamic capabilities

Two factors contribute to the efficiency and effectiveness with which teams of individuals perform repetitive patterns of activity:

We need to appraise our resources and capabilities against

The difference between a capability and a competence is

Organizational culture is

Prahalad and Hamel's 1990 paper

A capability that is needed to win versus competitors is a core competence.

Resources and capabilities need to be appraised against two key criteria:

An organizational capability requires

Dynamic capabilities are useful in fast changing environments.

The value of a brand is the confidence it instils in customers regarding the expected benefits associated with that brand.

Tight complex organizational routines

Resources are ultimately more important than capabilities.

The Concept of Stategy

Industry Analysis

The Nature and Sources of Competitive

Industry Evolution and Strategic Change

Technology-Based Industries and the Management of Innovation

Corporate Stategy

Realizing Stategy

Global Strategies and the Multinational Corporation

Corporate Responsibility

Filters