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

Intangible resources are more likely than tangible resources to help a firm create and sustain competitive advantage(s).

Competitive advantage occurs when there is a high utilization of which type of assets?

British conglomerate EMI developed and launched the invention of the CAT scanner.This paved the way for follow-up innovations like nuclear magnetic resonance imaging (MRI).Despite its initial success,EMI lost out quickly in the marketplace to GE Medical Systems.GE was able to reverse-engineer EMI's scanner.This is an example of what resource attribute?

A SWOT Analysis allows manages to evaluate a firm's current situation and future prospects by simultaneously considering ________ and _________ factors.

What is the purpose of using the VRIO framework?

Assets that a firm can draw on that are both tangible and intangible are:

A firm can try to protect and sustain its competitive advantage by making it costly for rivals to imitate its capabilities.

This chapter discusses both a strategic activity system and a value chain framework.How would you describe the differences between these two tools for a given firm?

Creating resources that meet the VRIO criteria are strategically important to a firm because:

All of the following are intangible resources EXCEPT:

One way that a firm can create a sustainable competitive advantage is by:

It is difficult to pinpoint the underlying cause of Apple's phenomenal success.Gaining a deep understanding of exactly why Apple has done so well is difficult because of which situation?

When a successful firm exhibits resource immobility,

To sustain competitive advantage,strategic activity systems need to:

When a firm enjoys a competitive advantage it attracts a significant amount of attention and its products or services can be at risk due to:

Social complexity is one of four conditions that can help protect a competitive advantage.What is social complexity? Which framework from this chapter best represents social complexity?

Under the VRIO framework,Crocs Shoes was unable to sustain its competitive advantage because its resources were:

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

Under the value chain perspective,managers evaluate a firm's system of activities in order to:

According to the Ch.4 Opening Case on Circuit City,Best Buy was able to create competitive advantages partly due to receiving tacit knowledge about Circuit City's customer service and sales processes.