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

Under the value chain concept only primary activities add incremental value.

When a firm combines __________ and ___________ it builds core competencies.

Which of the following is true when it comes to a firm's capabilities:

All of the following are tangible resources EXCEPT:

Which framework can managers use to determine whether firm resources and capabilities are internal strengths or weaknesses?

Strategic activity systems that are socially complex are:

If a manager is listing out resources which can be used to drive competitive advantage which item below would NOT be on the list:

Unique strengths that are embedded deep within a firm that allow a firm to differentiate itself and create higher value for customers is a:

Which framework most easily allows for the combination of both internal and external factors in the analysis of a firm's competitive advantage?

A risk to a firm that believes that its resources are costly to imitate is:

If the firm is not organized to capture the value from its resources it will not profit from the investment in the resources.In the 1980's Xerox's Palo Alto Research Center (PARC)developed many of the foundations for the ___________ industry.Yet these valuable and rare innovations were commercialized by other firms.

Explain the difference between resource stocks and resource flows.

Strategy Highlight 4.2 discusses how IBM was able to rebound because CEO Lou Gerstner refocused the company on satisfying market needs through IT services as opposed to mainframe and mini-computers.This strategic highlight shows that IBM's current success is partially based on:

Knowledge diffusion can make a resource less rare.

Both Honda and Sony took many decades to build their core competencies and these competencies are based primarily by decisions made in the past.This process is called:

___________ refer to a firm's ability to reconfigure resources and create external market changes.

If Sony and Microsoft develop the same customer knowledge base and create gaming products that provide the same customer appeal as Nintendo then:

How do dynamic capabilities enhance a firm's competitive advantage?

Under the VRIO framework,direct imitation is a bigger threat to a firm's competitive advantage than is the threat of substitution.

There are two critical assumptions underpinning the resource-based model of competitive advantage.One of these is resource immobility.Briefly explain what this means.Provide one example of an immobile resource.