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

Todd & Tyler Inc.is an organization that has gained reputation in the market primarily because of its values.The managers of this organization have created a list that ranks the most important job of the day and then consecutively lists the other jobs according to a descending order of importance.In this way,the managers of Todd & Tyler Inc.ensure that the organization's deadlines are handled efficiently.From the information given in this scenario,we can infer that Todd & Tyler Inc.has worked out its _____.

The employees at Williamson Corp.are finding it hard to manage their daily work in an efficient manner.They are consistently not able to meet their daily targets because they have too much of unorganized workload to handle.Frustrated,they seek help from their managers requesting them to create a system wherein they are allotted work according to their importance,so that the important work gets done before they take up the work that is categorized as comparatively lesser important.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 _____.

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

Bertha,a business analyst,wants to analyze Shop Wise Inc.,a software company.She wants to know how the company,supplying its products and services for over a decade,still maintains competitive advantage over other companies.She does the analysis simply by walking around the company and taking notes.She even tries out one of the company's software programs and finds it useful.This scenario illustrates the use of _____.

Kevin,the General Manager at KlockWorks Inc.,wants to assess the true worth of his company.Kevin wants to know the amount of profits accrued by the company,its strengths and weaknesses,and how far ahead is the company compared to its rivals.In order to conduct the research,he does an online search,studies the annual reports,the audits,and pays a visit to a local library.Which of the following types of data gathering techniques for company diamond analysis is being illustrated in the scenario?

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

The procedures,processes,or routines for delivering value to customers,employees,suppliers,or investors most accurately define the term _____.

The characteristics that make a resource or capability difficult to imitate is known as _____.

What is an intangible resource?

A firm's values and rankings of what is most important most accurately defines the term _____.

Leon Royal Hotel was the first inn in the county of Belvore.It had started out as a small investment with seven rooms,providing bed and breakfast in 1949 to many travelers who came to Belvore.Another inn called Meltown Inn started out a decade after Leon Royal Hotel.After 20 years of giving unique and satisfying service to its customers,Leon Royal Hotels was well established as a large hotel with more than 1,500 rooms.The facilities and services provided by the hotel made it one of the best hotels in the Belvore,while Meltown Inn started losing profits and eventually shut down in 1968 because of providing bad service.Which of the following factors of inimitability is explained in this scenario?

Which of the following is a disadvantage of the value chain process?

The management at WonderPlanners Inc.wants to improve their production and operating capabilities by adopting a leaner process.As such,the employees of WonderPlanners are asked to eliminate the excess use of efforts and materials.WonderPlanners Inc.finally manages to achieve a competitive advantage after its employees follow these new practices repeatedly over time.From the information given in this scenario,we can infer that WonderPlanners Inc.has developed _____.

Which of the following statements is true of a value chain?

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 _____.

All assets,capabilities,organizational processes,firm attributes,information,knowledge,and so on,controlled by a firm that enable the firm to conceive of and implement strategies that improve its efficiency and effectiveness most accurately defines the term _____.

State the difference between operating capabilities and dynamic capabilities.

Weavers Inc.,a popular clothing brand,has been providing its customers with the best quality silk products for many years.The employees of Weavers Inc.use pink berry silkworms for their silk products and weave their greased silk threads in such a way that they produce different shades of colors when held at different angles.Weavers Inc.has been providing unmatched service toward millions of customers around the world.Other companies have tried to imitate their products and services,but have not been successful.Few competitors who captured these silkworms did not know the precise temperatures that were essential for their breeding and survival.Which of the following factors of inimitability does this scenario regarding Weavers Inc.best reflect?

A firm's advantage becomes stronger if it develops _____,processes that are designed to continuously expand existing resources or to improve or modify operating capabilities.

Walter Evans,the founder of IronRod Shipping Industry,in order to manage his company more efficiently,suggested using the company diamond model to help counter the fierce competition in the market.Walter believes that this is a successful model and that it would open new doors into the line of systematic and efficient work processes.He believes the model to be an all-purpose solution whether it is in terms of managing resources,prioritizing work,or acknowledging capabilities.Which of the following would strengthen Walter's suggestion to adopt the company diamond method?