Question 1

Resource analysis is a tool:

Accepted Answer

A)  based on cross-department combinations of intellectual capital and expertise. 
B)  for identifying a company's superior resources and capabilities,and such value can only be assessed objectively after they are employed. 
C)  based on a standalone resource strength such as technological expertise. 
D)  for analyzing a company's most efficiently executed value-chain activity. 
E)  for identifying industry key success factors that can provide a company with a core competence that rivals cannot effectively imitate. 
A)  based on cross-department combinations of intellectual capital and expertise. 
B)  for identifying a company's superior resources and capabilities,and such value can only be assessed objectively after they are employed. 
C)  based on a standalone resource strength such as technological expertise. 
D)  for analyzing a company's most efficiently executed value-chain activity. 
E)  for identifying industry key success factors that can provide a company with a core competence that rivals cannot effectively imitate.

Question 2

When companies engage in value-creating activities,they do so by:

Accepted Answer

A)  focusing on exploiting a company's best-executed operating strategy. 
B)  concentrating on efficient performance of the company's primary value chain activities. 
C)  concentrating on minimizing the costs associated with the design of a product or service. 
D)  drawing on specific company resources and capabilities that underlie and enable the activity. 
E)  focusing on working with forward-channel allies to develop capabilities to outmatch the capabilities of rivals. 
A)  focusing on exploiting a company's best-executed operating strategy. 
B)  concentrating on efficient performance of the company's primary value chain activities. 
C)  concentrating on minimizing the costs associated with the design of a product or service. 
D)  drawing on specific company resources and capabilities that underlie and enable the activity. 
E)  focusing on working with forward-channel allies to develop capabilities to outmatch the capabilities of rivals.

Question 3

A core competence represents a basis for competitive advantage.True or false? Explain your answer.

Accepted Answer

A) True 
 B)False

Question 4

The value chains of rival companies:

Accepted Answer

A)  tend to be essentially the same-any differences are typically minor. 
B)  can differ substantially,reflecting differences in the evolution of each company's own particular business,differences in strategy,and differences in the approaches being used to execute strategy. 
C)  are fairly similar or fairly different,depending on how many activities are performed internally and how many are outsourced. 
D)  can be either fairly similar or fairly different,depending on the extent to which each company's primary and support activities are comprised of fixed-cost activities and variable cost activities. 
E)  are fairly similar except when rival companies have quite different product designs. 
A)  tend to be essentially the same-any differences are typically minor. 
B)  can differ substantially,reflecting differences in the evolution of each company's own particular business,differences in strategy,and differences in the approaches being used to execute strategy. 
C)  are fairly similar or fairly different,depending on how many activities are performed internally and how many are outsourced. 
D)  can be either fairly similar or fairly different,depending on the extent to which each company's primary and support activities are comprised of fixed-cost activities and variable cost activities. 
E)  are fairly similar except when rival companies have quite different product designs.

Question 5

Which one of the following is an accurate interpretation of the scores that result from doing a competitive strength assessment?

Accepted Answer

A)  High scores signal a strong competitive position and possession of a competitive advantage over companies with lower scores. 
B)  High scores indicate that a company is a power-user of best practices,while low scores signal minimal or ineffective adoption of best practices. 
C)  The company with the lowest score has the lowest-cost value chain. 
D)  The company with the lowest score has the strongest net competitive advantage over its rivals. 
E)  High scores indicate which rivals are most vulnerable to competitive attack. 
A)  High scores signal a strong competitive position and possession of a competitive advantage over companies with lower scores. 
B)  High scores indicate that a company is a power-user of best practices,while low scores signal minimal or ineffective adoption of best practices. 
C)  The company with the lowest score has the lowest-cost value chain. 
D)  The company with the lowest score has the strongest net competitive advantage over its rivals. 
E)  High scores indicate which rivals are most vulnerable to competitive attack.

Question 6

Why does it matter whether a company is able to perform value chain activities more proficiently or more cheaply than rivals? Explain and support your answer.

Accepted Answer

It matters whether a company is able to

Question 7

The main reason that listing or categorizing company resources matters is:

Accepted Answer

A)  to ensure all resources are categorized correctly. 
B)  that the important resources are reported against strategically subjective activities. 
C)  that the resources are prioritized in terms of value propositions. 
D)  that the strategically placed resources are manageable. 
E)  that all the different types of resources are included. 
A)  to ensure all resources are categorized correctly. 
B)  that the important resources are reported against strategically subjective activities. 
C)  that the resources are prioritized in terms of value propositions. 
D)  that the strategically placed resources are manageable. 
E)  that all the different types of resources are included.

Question 8

A distinctive competence:

Accepted Answer

A)  is a competitively important activity that a company performs better than its rivals. 
B)  gives a company a competitively valuable capability that is unmatched by rivals. 
C)  is a basis for sustainable competitive advantage. 
D)  qualifies as a superior internal strength. 
E)  All of these. 
A)  is a competitively important activity that a company performs better than its rivals. 
B)  gives a company a competitively valuable capability that is unmatched by rivals. 
C)  is a basis for sustainable competitive advantage. 
D)  qualifies as a superior internal strength. 
E)  All of these.

Question 9

Which two tests of a resource's competitive power determine whether a company's competitive advantage can be sustained in the face of active competition?

Accepted Answer

A)  Whether the resource or capability is competitively valuable and/or is something that rivals lack 
B)  Whether the resource or capability is rare and/or is hard to copy 
C)  Whether the resource or capability is easy to copy 
D)  Whether the resource or capability is competitively valuable and/or there are good substitutes available for the resource 
E)  Whether the resource or capability is hard to copy and/or can be trumped by different types of resources and capabilities 
A)  Whether the resource or capability is competitively valuable and/or is something that rivals lack 
B)  Whether the resource or capability is rare and/or is hard to copy 
C)  Whether the resource or capability is easy to copy 
D)  Whether the resource or capability is competitively valuable and/or there are good substitutes available for the resource 
E)  Whether the resource or capability is hard to copy and/or can be trumped by different types of resources and capabilities

Question 10

Which of the following is NOT pertinent in identifying a company's present strategy?

Accepted Answer

A)  The key functional strategies (R&D,supply chain management,production,sales and marketing,HR,and finance)a company is employing 
B)  Management's planned,proactive moves to outcompete rivals (via better product design,improved quality or service,wider product lines,and so on) 
C)  The company's mission,strategic objectives,and financial objectives 
D)  Moves to respond and react to changing conditions in the macro-environment and in industry and competitive conditions 
E)  The strategic role of its collaborative partnerships and strategic alliances with others 
A)  The key functional strategies (R&D,supply chain management,production,sales and marketing,HR,and finance)a company is employing 
B)  Management's planned,proactive moves to outcompete rivals (via better product design,improved quality or service,wider product lines,and so on) 
C)  The company's mission,strategic objectives,and financial objectives 
D)  Moves to respond and react to changing conditions in the macro-environment and in industry and competitive conditions 
E)  The strategic role of its collaborative partnerships and strategic alliances with others

Question 11

The ability of a company to perform value chain activities more proficiently or more cheaply than rivals is a potential source of competitive advantage.True or false? Explain and defend your answer.

Accepted Answer

A) True 
 B)False

Question 12

Why is it important for company managers to develop a "worry list" of strategic issues and problems that they need to address and resolve? What should they consider to develop this list?

Accepted Answer

The answer of Why is it important for company managers...

Question 13

The competitive power of a company's resource strength is NOT measured by which one of the following tests?

Accepted Answer

A)  Is the resource rare and something rivals lack? 
B)  Is the resource strength something that a company does internally rather than in collaborative arrangements with outsiders? 
C)  Is the resource strength easily trumped by the substitute resources/capabilities of rivals? 
D)  Is the resource strength hard to copy? 
E)  Is the resource strength competitively valuable,having the potential to contribute to a competitive advantage? 
A)  Is the resource rare and something rivals lack? 
B)  Is the resource strength something that a company does internally rather than in collaborative arrangements with outsiders? 
C)  Is the resource strength easily trumped by the substitute resources/capabilities of rivals? 
D)  Is the resource strength hard to copy? 
E)  Is the resource strength competitively valuable,having the potential to contribute to a competitive advantage?

Question 14

Which of the following is NOT one of the objectives of benchmarking?

Accepted Answer

A)  To identify the best practices in performing various value chain activities 
B)  To learn how best practice companies achieve lower costs or better results in performing benchmarked activities 
C)  To help construct a company value chain and identify which activities are primary and which are support activities 
D)  To develop cross-company comparisons of the costs of performing specific value chain activities 
E)  To take actions to improve a company's cost competitiveness when benchmarking reveals that its costs and results of performing an activity are not as good as what other companies have achieved 
A)  To identify the best practices in performing various value chain activities 
B)  To learn how best practice companies achieve lower costs or better results in performing benchmarked activities 
C)  To help construct a company value chain and identify which activities are primary and which are support activities 
D)  To develop cross-company comparisons of the costs of performing specific value chain activities 
E)  To take actions to improve a company's cost competitiveness when benchmarking reveals that its costs and results of performing an activity are not as good as what other companies have achieved

Question 15

A company's resources and capabilities represent:

Accepted Answer

A)  the firm's net working capital and related determinants for measuring operating performance and capabilities. 
B)  the firm's competitive assets,which are considered big determinants of its competitiveness and ability to succeed in the marketplace. 
C)  whether the firm has the industry's most efficient value chain. 
D)  management's source of funding of new strategic initiatives. 
E)  All of these. 
A)  the firm's net working capital and related determinants for measuring operating performance and capabilities. 
B)  the firm's competitive assets,which are considered big determinants of its competitiveness and ability to succeed in the marketplace. 
C)  whether the firm has the industry's most efficient value chain. 
D)  management's source of funding of new strategic initiatives. 
E)  All of these.

Question 16

Identifying the strategy-related issues and problems that company managers need to address and resolve for the company to be more financially and competitively successful entails all of the following EXCEPT:

Accepted Answer

A)  drawing on the results of both industry analysis and the evaluations of the company's own competitiveness. 
B)  drawing on the evaluations of the company's own resources,internal circumstances,and competitiveness. 
C)  locking in on what challenges/obstacles/roadblocks the company has to overcome in order to be financially and competitively successful in the years ahead. 
D)  developing a "worry list" of "how to…," "whether to…," and "what to do about…" 
E)  developing a competitive strength assessment that details the strategic moves and countermoves necessary for ensuring the company's financial future. 
A)  drawing on the results of both industry analysis and the evaluations of the company's own competitiveness. 
B)  drawing on the evaluations of the company's own resources,internal circumstances,and competitiveness. 
C)  locking in on what challenges/obstacles/roadblocks the company has to overcome in order to be financially and competitively successful in the years ahead. 
D)  developing a "worry list" of "how to…," "whether to…," and "what to do about…" 
E)  developing a competitive strength assessment that details the strategic moves and countermoves necessary for ensuring the company's financial future.

Question 17

Costs and price differences among competing companies can have origins in activities performed by:

Accepted Answer

A)  the company's internally performed activities (its own value chain)compared to the cost structure of the internally performed activities of rival companies. 
B)  value chains of the company's suppliers. 
C)  value chains of a company's distributors and retail dealers and forward channel allies. 
D)  the company's internally performed activities (its own value chain),but also on costs in the value chain of its suppliers and distribution channel allies. 
E)  whether the company has a longer or shorter value chain than its close rivals. 
A)  the company's internally performed activities (its own value chain)compared to the cost structure of the internally performed activities of rival companies. 
B)  value chains of the company's suppliers. 
C)  value chains of a company's distributors and retail dealers and forward channel allies. 
D)  the company's internally performed activities (its own value chain),but also on costs in the value chain of its suppliers and distribution channel allies. 
E)  whether the company has a longer or shorter value chain than its close rivals.

Question 18

A company's competitive strength scores pinpoint its strengths and weaknesses against rivals and:

Accepted Answer

A)  suggest the company use its strengths to exploit its own competitive liabilities. 
B)  point directly to the kinds of offensive/defensive actions it can use to exploit its competitive strengths and reduce its competitive liabilities. 
C)  point directly to the company to use its weaknesses as offensive moves to challenge rivals' weaknesses. 
D)  suggest receptivity for astute companies to drive their operating practices if the strength scores are very low. 
E)  point directly to accepting the competitive strength scores on face value. 
A)  suggest the company use its strengths to exploit its own competitive liabilities. 
B)  point directly to the kinds of offensive/defensive actions it can use to exploit its competitive strengths and reduce its competitive liabilities. 
C)  point directly to the company to use its weaknesses as offensive moves to challenge rivals' weaknesses. 
D)  suggest receptivity for astute companies to drive their operating practices if the strength scores are very low. 
E)  point directly to accepting the competitive strength scores on face value.

Question 19

Which of the following is a clear representation of a company's capability?

Accepted Answer

A)  A company's brand 
B)  A productive input that is owned or controlled by the firm 
C)  The capacity of a firm to perform some activity 
D)  An alliance or collaboration with another firm 
E)  All of these. 
A)  A company's brand 
B)  A productive input that is owned or controlled by the firm 
C)  The capacity of a firm to perform some activity 
D)  An alliance or collaboration with another firm 
E)  All of these.

Question 20

Which of the following does NOT represent a company resource?

Accepted Answer

A)  A company's brand 
B)  A productive input that is owned by the firm 
C)  Marketing and brand management 
D)  R&D teams 
E)  A productive input that is controlled by the firm 
A)  A company's brand 
B)  A productive input that is owned by the firm 
C)  Marketing and brand management 
D)  R&D teams 
E)  A productive input that is controlled by the firm

Resource analysis is a tool:

When companies engage in value-creating activities,they do so by:

A core competence represents a basis for competitive advantage.True or false? Explain your answer.

The value chains of rival companies:

Which one of the following is an accurate interpretation of the scores that result from doing a competitive strength assessment?

Why does it matter whether a company is able to perform value chain activities more proficiently or more cheaply than rivals? Explain and support your answer.

The main reason that listing or categorizing company resources matters is:

A distinctive competence:

Which two tests of a resource's competitive power determine whether a company's competitive advantage can be sustained in the face of active competition?

Which of the following is NOT pertinent in identifying a company's present strategy?

The ability of a company to perform value chain activities more proficiently or more cheaply than rivals is a potential source of competitive advantage.True or false? Explain and defend your answer.

Why is it important for company managers to develop a "worry list" of strategic issues and problems that they need to address and resolve? What should they consider to develop this list?

The competitive power of a company's resource strength is NOT measured by which one of the following tests?

Which of the following is NOT one of the objectives of benchmarking?

A company's resources and capabilities represent:

Identifying the strategy-related issues and problems that company managers need to address and resolve for the company to be more financially and competitively successful entails all of the following EXCEPT:

Costs and price differences among competing companies can have origins in activities performed by:

A company's competitive strength scores pinpoint its strengths and weaknesses against rivals and:

Which of the following is a clear representation of a company's capability?

Which of the following does NOT represent a company resource?

What Is Strategy and Why Is It Important

Charting a Companys Direction: Its Vision, Mission, Objectives, and Strategy

Evaluating a Companys External Environment

The Five Generic Competitive Strategies: Which One to Employ

Strengthening a Companys Competitive Position: Strategic Moves, Timing, and Scope of Operations

Strategies for Competing in International Markets

Corporate Strategy: Diversification and the Multibusiness Company

Ethics, corporate Social Responsibility, Environmental Sustainability, and Strategy

Building an Organization Capable of Good Strategy Execution: People, Capabilities, and Structure

Managing Internal Operations: Actions That Promote Good Strategy Execution

Corporate Culture and Leadership: Keys to Good Strategy Execution

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Exam 4: Evaluating a Companys Resources, Capabilities, and Competitiveness

Resource analysis is a tool:

When companies engage in value-creating activities,they do so by:

A core competence represents a basis for competitive advantage.True or false? Explain your answer.

The value chains of rival companies:

Which one of the following is an accurate interpretation of the scores that result from doing a competitive strength assessment?

Why does it matter whether a company is able to perform value chain activities more proficiently or more cheaply than rivals? Explain and support your answer.

The main reason that listing or categorizing company resources matters is:

A distinctive competence:

Which two tests of a resource's competitive power determine whether a company's competitive advantage can be sustained in the face of active competition?

Which of the following is NOT pertinent in identifying a company's present strategy?

The ability of a company to perform value chain activities more proficiently or more cheaply than rivals is a potential source of competitive advantage.True or false? Explain and defend your answer.

Why is it important for company managers to develop a "worry list" of strategic issues and problems that they need to address and resolve? What should they consider to develop this list?

The competitive power of a company's resource strength is NOT measured by which one of the following tests?

Which of the following is NOT one of the objectives of benchmarking?

A company's resources and capabilities represent:

Identifying the strategy-related issues and problems that company managers need to address and resolve for the company to be more financially and competitively successful entails all of the following EXCEPT:

Costs and price differences among competing companies can have origins in activities performed by:

A company's competitive strength scores pinpoint its strengths and weaknesses against rivals and:

Which of the following is a clear representation of a company's capability?

Which of the following does NOT represent a company resource?

What Is Strategy and Why Is It Important

Charting a Companys Direction: Its Vision, Mission, Objectives, and Strategy

Evaluating a Companys External Environment

The Five Generic Competitive Strategies: Which One to Employ

Strengthening a Companys Competitive Position: Strategic Moves, Timing, and Scope of Operations

Strategies for Competing in International Markets

Corporate Strategy: Diversification and the Multibusiness Company

Ethics, corporate Social Responsibility, Environmental Sustainability, and Strategy

Building an Organization Capable of Good Strategy Execution: People, Capabilities, and Structure

Managing Internal Operations: Actions That Promote Good Strategy Execution

Corporate Culture and Leadership: Keys to Good Strategy Execution

Filters