Question 1

Which of the following is NOT a component of evaluating a company's resources and competitive position?

Accepted Answer

A)  Evaluating how well the present strategy is working 
B)  Scanning the environment to determine a company's best and most profitable customers 
C)  Assessing whether the company's cost structure and customer value proposition are competitive 
D)  Evaluating whether the company is competitively stronger or weaker than key rivals 
E)  Evaluating if the company is able to seize market opportunities and overcome external threats to its future well-being 
A)  Evaluating how well the present strategy is working 
B)  Scanning the environment to determine a company's best and most profitable customers 
C)  Assessing whether the company's cost structure and customer value proposition are competitive 
D)  Evaluating whether the company is competitively stronger or weaker than key rivals 
E)  Evaluating if the company is able to seize market opportunities and overcome external threats to its future well-being

Question 2

The steps of SWOT analysis are:

Accepted Answer

A)  identifying the company's resource strengths and weaknesses and its opportunities and threats,drawing conclusions about the company's overall situation,and translating the conclusions into strategic actions to improve the company's strategy. 
B)  pinpointing the company's competitive assets,pinpointing its competitive deficiencies,and determining whether it enjoys a competitive advantage. 
C)  determining whether the company has more competitive assets than competitive liabilities,determining whether the company has good market opportunities,and evaluating the seriousness of the threats to the company's future profitability. 
D)  matching the company's strategy to its resource strengths,correcting the company's important resource weaknesses,and identifying the company's best market opportunities. 
E)  benchmarking the company's strengths and weaknesses against those of key rivals,identifying its market opportunities and the external threats it faces,and determining the company's potential for establishing a competitive advantage over rivals. 
A)  identifying the company's resource strengths and weaknesses and its opportunities and threats,drawing conclusions about the company's overall situation,and translating the conclusions into strategic actions to improve the company's strategy. 
B)  pinpointing the company's competitive assets,pinpointing its competitive deficiencies,and determining whether it enjoys a competitive advantage. 
C)  determining whether the company has more competitive assets than competitive liabilities,determining whether the company has good market opportunities,and evaluating the seriousness of the threats to the company's future profitability. 
D)  matching the company's strategy to its resource strengths,correcting the company's important resource weaknesses,and identifying the company's best market opportunities. 
E)  benchmarking the company's strengths and weaknesses against those of key rivals,identifying its market opportunities and the external threats it faces,and determining the company's potential for establishing a competitive advantage over rivals.

Question 3

Which of the following is NOT an example of a company's dynamic capability?

Accepted Answer

A)  A capacity to improve existing resources and capabilities 
B)  Upgrades to R&D resources to drive product innovation 
C)  A capacity to add new resources and capabilities to the competitive asset portfolio 
D)  An ability to replace degraded resources with acquired capabilities 
E)  An ability to keep antiquated resources by disregarding innovative capabilities 
A)  A capacity to improve existing resources and capabilities 
B)  Upgrades to R&D resources to drive product innovation 
C)  A capacity to add new resources and capabilities to the competitive asset portfolio 
D)  An ability to replace degraded resources with acquired capabilities 
E)  An ability to keep antiquated resources by disregarding innovative capabilities

Question 4

A company is less competitively vulnerable when:

Accepted Answer

A)  the company has well-known profit levels. 
B)  the company's stock price is the highest. 
C)  the company's management is recognized as being strategic thinkers. 
D)  the company can offer a greater amount of customer value profitability relative to close rivals. 
E)  the company has less financial risk than rivals. 
A)  the company has well-known profit levels. 
B)  the company's stock price is the highest. 
C)  the company's management is recognized as being strategic thinkers. 
D)  the company can offer a greater amount of customer value profitability relative to close rivals. 
E)  the company has less financial risk than rivals.

Question 5

A core competence:

Accepted Answer

A)  is a more competitively valuable strength than a competence because of the key role the activities play in the company's strategy. 
B)  typically has competitive value,the amount of which is reflected in the physical and tangible assets on a company's balance sheet. 
C)  usually is grounded in the technological expertise of a particular department or work group. 
D)  is more difficult for rivals to copy than a distinctive competence. 
E)  refers to a company's lowest-cost and most efficiently executed value-chain activity. 
A)  is a more competitively valuable strength than a competence because of the key role the activities play in the company's strategy. 
B)  typically has competitive value,the amount of which is reflected in the physical and tangible assets on a company's balance sheet. 
C)  usually is grounded in the technological expertise of a particular department or work group. 
D)  is more difficult for rivals to copy than a distinctive competence. 
E)  refers to a company's lowest-cost and most efficiently executed value-chain activity.

Question 6

Which of the following is NOT accurate as concerns the task of identifying the strategic issues and problems that merit front-burner managerial attention?

Accepted Answer

A)  It entails drawing upon the results and conclusions from analyzing the company's external environment. 
B)  It entails drawing on the results and conclusions from evaluating the company's own resources and competitive position. 
C)  It entails developing a "worry list" of "how to…," "whether to…," and "what to do about…" 
D)  Identifying the strategic issues and problems that the company faces is the first thing that company managers need to do before starting to analyze the company's internal and external environment. 
E)  Developing a list of issues and problems that management need to address (and to resolve)should always precede deciding upon a strategy and what actions to take to improve the company's position and prospects. 
A)  It entails drawing upon the results and conclusions from analyzing the company's external environment. 
B)  It entails drawing on the results and conclusions from evaluating the company's own resources and competitive position. 
C)  It entails developing a "worry list" of "how to…," "whether to…," and "what to do about…" 
D)  Identifying the strategic issues and problems that the company faces is the first thing that company managers need to do before starting to analyze the company's internal and external environment. 
E)  Developing a list of issues and problems that management need to address (and to resolve)should always precede deciding upon a strategy and what actions to take to improve the company's position and prospects.

Question 7

In conducting a SWOT analysis,is it enough to simply compile lists of the company's strengths,weaknesses,opportunities,and threats? Why or why not?

Accepted Answer

The answer of In conducting a SWOT analysis,is it enough...

Question 8

Which of the following BEST describes the market opportunities that tend to be most relevant to a particular company?

Accepted Answer

A)  Those market opportunities that provide avenues for taking market share away from close rivals and enhance a company's image as a leader in product innovation and product quality 
B)  Those market opportunities that offer the company a chance to raise entry barriers 
C)  Those market opportunities that help promote greater diversification of revenues and profits 
D)  Those market opportunities that match up well with the firm's competitive assets,offer the best prospect for growth and profitability,and present the most potential for competitive advantage 
E)  Those market opportunities that help correct a company's biggest weaknesses and competitive deficiencies 
A)  Those market opportunities that provide avenues for taking market share away from close rivals and enhance a company's image as a leader in product innovation and product quality 
B)  Those market opportunities that offer the company a chance to raise entry barriers 
C)  Those market opportunities that help promote greater diversification of revenues and profits 
D)  Those market opportunities that match up well with the firm's competitive assets,offer the best prospect for growth and profitability,and present the most potential for competitive advantage 
E)  Those market opportunities that help correct a company's biggest weaknesses and competitive deficiencies

Question 9

Which of the following does NOT represent a potential core competence?

Accepted Answer

A)  Skills in manufacturing a high-quality product at a low cost 
B)  Know-how in creating and operating systems for cost-efficient supply chain management 
C)  The capability to fill customer orders accurately and swiftly 
D)  Having a wider product line than rivals 
E)  The capability to speed new or next-generation products to the marketplace 
A)  Skills in manufacturing a high-quality product at a low cost 
B)  Know-how in creating and operating systems for cost-efficient supply chain management 
C)  The capability to fill customer orders accurately and swiftly 
D)  Having a wider product line than rivals 
E)  The capability to speed new or next-generation products to the marketplace

Question 10

In order to gain value from the SWOT analysis,it is important that the company address the two most important parts of a SWOT analysis,which are:

Accepted Answer

A)  identifying the resource strengths and resource weaknesses. 
B)  understanding the relationship between the strengths,weaknesses,opportunities,and threats and establishing criteria for remedying the company's shortfalls. 
C)  drawing conclusions from the SWOT listings about the company's overall situation and translating these conclusions into strategic actions. 
D)  clarifying the firm's current position and ensuring the SWOT listings are complete. 
E)  establishing a game plan to capitalize on the company's strengths and leverage the weaknesses in light of the available opportunities. 
A)  identifying the resource strengths and resource weaknesses. 
B)  understanding the relationship between the strengths,weaknesses,opportunities,and threats and establishing criteria for remedying the company's shortfalls. 
C)  drawing conclusions from the SWOT listings about the company's overall situation and translating these conclusions into strategic actions. 
D)  clarifying the firm's current position and ensuring the SWOT listings are complete. 
E)  establishing a game plan to capitalize on the company's strengths and leverage the weaknesses in light of the available opportunities.

Question 11

Identifying the strategic issues a company faces and compiling a "worry list" of problems and roadblocks is an important component of company situation analysis because:

Accepted Answer

A)  without a precise fix on what problems/issues a company confronts,managers cannot know what the industry's key success factors are. 
B)  the "worry list" sets the management agenda for taking actions to improve the company's performance and business outlook. 
C)  without a precise fix on what problems/roadblocks a company confronts,managers are less clear about what value chain activities to benchmark. 
D)  the "worry list" helps company managers clarify their thinking about how best to modify the company's value chain. 
E)  these issues and obstacles must be cleared before management can focus clearly on what is the best strategy for the company to pursue. 
A)  without a precise fix on what problems/issues a company confronts,managers cannot know what the industry's key success factors are. 
B)  the "worry list" sets the management agenda for taking actions to improve the company's performance and business outlook. 
C)  without a precise fix on what problems/roadblocks a company confronts,managers are less clear about what value chain activities to benchmark. 
D)  the "worry list" helps company managers clarify their thinking about how best to modify the company's value chain. 
E)  these issues and obstacles must be cleared before management can focus clearly on what is the best strategy for the company to pursue.

Question 12

A higher company's overall weighted strength rating does not signal:

Accepted Answer

A)  greater implied net competitive advantage 
B)  stronger overall competitiveness versus rivals. 
C)  weaker overall competitiveness versus rivals. 
D)  the possession of a competitive advantage. 
E)  None of these. 
A)  greater implied net competitive advantage 
B)  stronger overall competitiveness versus rivals. 
C)  weaker overall competitiveness versus rivals. 
D)  the possession of a competitive advantage. 
E)  None of these.

Question 13

A useful way to identify a company's resources is to view them as:

Accepted Answer

A)  divided into two main categories,tangible and intangible. 
B)  every productive input or competitive asset except human assets and intellectual capital,which are considered capabilities or competencies. 
C)  physical resources,such as the company's brand,image,and reputation assets. 
D)  an inventory or a collection of the firm's strengths,weaknesses,opportunities,and threats. 
E)  All of these. 
A)  divided into two main categories,tangible and intangible. 
B)  every productive input or competitive asset except human assets and intellectual capital,which are considered capabilities or competencies. 
C)  physical resources,such as the company's brand,image,and reputation assets. 
D)  an inventory or a collection of the firm's strengths,weaknesses,opportunities,and threats. 
E)  All of these.

Question 14

The best indicator of how well a company's strategy is working is whether the company:

Accepted Answer

A)  is achieving its stated financial objectives,its financial performance equates to the industry average,and market share gains reflect short-term preferences for capacity maximization. 
B)  is attentive to its poor execution in functional areas,business goals are stretch,and the value proposition has a product focus. 
C)  is geared to initiatives designed to build market share and to promote corporate responsibility. 
D)  is achieving its stated financial and strategic objectives,its financial performance is better than the industry average,and it is gaining customers and increasing market share. 
E)  All of these. 
A)  is achieving its stated financial objectives,its financial performance equates to the industry average,and market share gains reflect short-term preferences for capacity maximization. 
B)  is attentive to its poor execution in functional areas,business goals are stretch,and the value proposition has a product focus. 
C)  is geared to initiatives designed to build market share and to promote corporate responsibility. 
D)  is achieving its stated financial and strategic objectives,its financial performance is better than the industry average,and it is gaining customers and increasing market share. 
E)  All of these.

Question 15

The competitive power of a company resource strength or competitive capability hinges on:

Accepted Answer

A)  how hard it is for competitors to copy. 
B)  whether it is rare and something rivals lack. 
C)  whether it is really competitively valuable and has the potential to contribute to a competitive advantage. 
D)  how easily it can be trumped by the substitute resources/capabilities of rivals. 
E)  All of these. 
A)  how hard it is for competitors to copy. 
B)  whether it is rare and something rivals lack. 
C)  whether it is really competitively valuable and has the potential to contribute to a competitive advantage. 
D)  how easily it can be trumped by the substitute resources/capabilities of rivals. 
E)  All of these.

Question 16

A company's value-creating activities can offer a competitive advantage in one of two ways:

Accepted Answer

A)  contribute greater efficiency and lower costs and provide a basis for differentiation. 
B)  contribute expense savings and enhance product exclusivity. 
C)  reduce cost disadvantages and market price anomalies. 
D)  contribute customer experience value and conserve operating functionality. 
E)  contribute to competitive assets and continue distinctive competencies. 
A)  contribute greater efficiency and lower costs and provide a basis for differentiation. 
B)  contribute expense savings and enhance product exclusivity. 
C)  reduce cost disadvantages and market price anomalies. 
D)  contribute customer experience value and conserve operating functionality. 
E)  contribute to competitive assets and continue distinctive competencies.

Question 17

The difference between a core competence and a distinctive competence is that:

Accepted Answer

A)  a distinctive competence refers to a company's strongest resource or competitive capability,while a core competence refers to a company's lowest-cost and most efficiently executed value-chain activity. 
B)  a core competence usually resides in a company's base of intellectual capital,whereas a distinctive competence stems from the superiority of a company's physical and tangible assets. 
C)  a core competence is a competitively and strategically relevant activity that a firm performs well compared to its other activities,whereas a distinctive competence is a competitively relevant activity a firm performs well compared to other rival firms. 
D)  a core competence represents a resource strength,whereas a distinctive competence is achieved by having more resource strengths than rival companies. 
E)  a core competence usually resides in a company's technology and physical assets,whereas a distinctive competence usually resides in a company's know-how,expertise,and intellectual capital. 
A)  a distinctive competence refers to a company's strongest resource or competitive capability,while a core competence refers to a company's lowest-cost and most efficiently executed value-chain activity. 
B)  a core competence usually resides in a company's base of intellectual capital,whereas a distinctive competence stems from the superiority of a company's physical and tangible assets. 
C)  a core competence is a competitively and strategically relevant activity that a firm performs well compared to its other activities,whereas a distinctive competence is a competitively relevant activity a firm performs well compared to other rival firms. 
D)  a core competence represents a resource strength,whereas a distinctive competence is achieved by having more resource strengths than rival companies. 
E)  a core competence usually resides in a company's technology and physical assets,whereas a distinctive competence usually resides in a company's know-how,expertise,and intellectual capital.

Question 18

A sustainable competitive advantage is gained:

Accepted Answer

A)  when a company has durable competitive assets that are central to its strategy and superior to those of rival firms. 
B)  when a company has sufficient resources to expedite its strategy. 
C)  when a company realizes its inherent weaknesses are transformable to advantages. 
D)  when a company can stand out relative to rivals because of resource utilization. 
E)  All of these. 
A)  when a company has durable competitive assets that are central to its strategy and superior to those of rival firms. 
B)  when a company has sufficient resources to expedite its strategy. 
C)  when a company realizes its inherent weaknesses are transformable to advantages. 
D)  when a company can stand out relative to rivals because of resource utilization. 
E)  All of these.

Question 19

A competitively valuable resource or capability is a company's:

Accepted Answer

A)  enabling foundation of its business model. 
B)  equally valuable substitute resource providing a competitive advantage. 
C)  assessment of the availability of superior substitutes. 
D)  unsurpassed worker productivity and product quality. 
E)  unique piecework incentive system,providing a competitive advantage. 
A)  enabling foundation of its business model. 
B)  equally valuable substitute resource providing a competitive advantage. 
C)  assessment of the availability of superior substitutes. 
D)  unsurpassed worker productivity and product quality. 
E)  unique piecework incentive system,providing a competitive advantage.

Question 20

A powerful tool for sizing up the company's competitive assets and determining whether they can provide the foundation necessary for competitive success in the marketplace is termed:

Accepted Answer

A)  Resource and capability analysis 
B)  SWOT 
C)  Competitive analysis 
D)  Financial and asset management analysis 
E)  Value chain analysis 
A)  Resource and capability analysis 
B)  SWOT 
C)  Competitive analysis 
D)  Financial and asset management analysis 
E)  Value chain analysis

Which of the following is NOT a component of evaluating a company's resources and competitive position?

The steps of SWOT analysis are:

Which of the following is NOT an example of a company's dynamic capability?

A company is less competitively vulnerable when:

A core competence:

Which of the following is NOT accurate as concerns the task of identifying the strategic issues and problems that merit front-burner managerial attention?

In conducting a SWOT analysis,is it enough to simply compile lists of the company's strengths,weaknesses,opportunities,and threats? Why or why not?

Which of the following BEST describes the market opportunities that tend to be most relevant to a particular company?

Which of the following does NOT represent a potential core competence?

In order to gain value from the SWOT analysis,it is important that the company address the two most important parts of a SWOT analysis,which are:

Identifying the strategic issues a company faces and compiling a "worry list" of problems and roadblocks is an important component of company situation analysis because:

A higher company's overall weighted strength rating does not signal:

A useful way to identify a company's resources is to view them as:

The best indicator of how well a company's strategy is working is whether the company:

The competitive power of a company resource strength or competitive capability hinges on:

A company's value-creating activities can offer a competitive advantage in one of two ways:

The difference between a core competence and a distinctive competence is that:

A sustainable competitive advantage is gained:

A competitively valuable resource or capability is a company's:

A powerful tool for sizing up the company's competitive assets and determining whether they can provide the foundation necessary for competitive success in the marketplace is termed:

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

Which of the following is NOT a component of evaluating a company's resources and competitive position?

The steps of SWOT analysis are:

Which of the following is NOT an example of a company's dynamic capability?

A company is less competitively vulnerable when:

A core competence:

Which of the following is NOT accurate as concerns the task of identifying the strategic issues and problems that merit front-burner managerial attention?

In conducting a SWOT analysis,is it enough to simply compile lists of the company's strengths,weaknesses,opportunities,and threats? Why or why not?

Which of the following BEST describes the market opportunities that tend to be most relevant to a particular company?

Which of the following does NOT represent a potential core competence?

In order to gain value from the SWOT analysis,it is important that the company address the two most important parts of a SWOT analysis,which are:

Identifying the strategic issues a company faces and compiling a "worry list" of problems and roadblocks is an important component of company situation analysis because:

A higher company's overall weighted strength rating does not signal:

A useful way to identify a company's resources is to view them as:

The best indicator of how well a company's strategy is working is whether the company:

The competitive power of a company resource strength or competitive capability hinges on:

A company's value-creating activities can offer a competitive advantage in one of two ways:

The difference between a core competence and a distinctive competence is that:

A sustainable competitive advantage is gained:

A competitively valuable resource or capability is a company's:

A powerful tool for sizing up the company's competitive assets and determining whether they can provide the foundation necessary for competitive success in the marketplace is termed:

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