Exam 4: Internal Analysis: Resources, Capabilities, and Activities

Resource stocks are important to a firm because they are tangible and can be converted into capital quickly.

_________ implies that for a given business activity,some firms may be more skilled than others in accomplishing it.

When a firm is conceptualized as a network of socially complex,interconnected activities it is referred to as being:

The purpose of a firm's ___________ is to add additional value through primary and support activities that competitors cannot easily replicate.

One of the assumptions under the resource-based model made about Southwest Airlines is that SWA has been able to sustain a competitive advantage because its resources and capabilities are difficult to imitate and do not easily leave the firm.What is this assumption called?

Which of the following statements regarding the resource-based view is accurate?

Toyota lost its competitive advantage when lean manufacturing became an industry standard as other firms learned about,and utilized this manufacturing process.These firms learned about lean manufacturing due to:

Crocs Shoes lost its competitive advantage because patents did not protect the firm from direct imitation.

Which of the following is NOT a criterion for a strategically important resource?

Intangible firm resources such as brand equity and corporate culture can be analyzed by what method?

The fact that the U.S.still uses a system of measurement from the 1820's instead of the metric system and is at a disadvantage in certain cross-border transactions and negotiations demonstrates that:

According to Strategy Highlight 4.3,Microsoft's eventual industry dominance is largely credited to:

Under the VRIO framework,it is important to develop as many core competencies as possible because it allows the firm to compete in many markets simultaneously.

The general lesson from the Ch.4 Opening Case on Circuit City is the importance of ______________ to a firm when it is attempting to gain and sustain competitive advantages.

Define core competency.

When firm has resources and capabilities that are valuable and rare only,then it has:

Using strategic activity systems a competitor can observe 25 activities of Firm A If Firm B decides to imitate Firm A with a 90% accuracy rate, the probability of copying the whole system of 25 activities yields only a 7% accuracy rate.Which framework below is most effective at demonstrating the difficulty of imitating a firm with 25 interconnected activities?

Chapter 4 details actions that Vanguard took after 1997 to add customer segmentation as a new core activity because it was unable to provide quality service to targeted customer segments at the lowest possible cost.By changing its _______________ Vanguard was able to adapt to changing market conditions and sustain its competitive advantage in the investment industry.

If a firm's resources and capabilities are costly to imitate because imitating firms do not understand the relationship between the resources and capabilities controlled by the firm.This firm's competitive advantage is protected from imitation by ________________.

A firm's superior performance in the marketplace affords it the luxury of