Question 1

The most difficult part of benchmarking is:

Accepted Answer

A)  the decision of whether to do it at all. 
B)  how to gain access to information regarding rivals' practices and costs. 
C)  when to initiate the process. 
D)  what information to utilize in the analysis process. 
E)  when to stop the process and move forward with strategy. 
A)  the decision of whether to do it at all. 
B)  how to gain access to information regarding rivals' practices and costs. 
C)  when to initiate the process. 
D)  what information to utilize in the analysis process. 
E)  when to stop the process and move forward with strategy.

Question 2

Calculating competitive strength ratings for a company and comparing them against strength ratings for its key competitors helps indicate:

Accepted Answer

A)  which weaknesses and vulnerabilities of competitors the company might be able to attack successfully. 
B)  which competitors are in profitable strategic groups and which competitors are in unprofitable strategic groups. 
C)  which competitors are employing offensive strategies and which competitors are employing defensive strategies. 
D)  which competitors are likely to make money and which are likely to lose money in the years ahead. 
E)  what the industry's key success factors are. 
A)  which weaknesses and vulnerabilities of competitors the company might be able to attack successfully. 
B)  which competitors are in profitable strategic groups and which competitors are in unprofitable strategic groups. 
C)  which competitors are employing offensive strategies and which competitors are employing defensive strategies. 
D)  which competitors are likely to make money and which are likely to lose money in the years ahead. 
E)  what the industry's key success factors are.

Question 3

The four tests of a resource's competitive power are often referred to as:

Accepted Answer

A)  the SCIR test,which asks if a resource is sustainable,competitive,internalized,and reproducible. 
B)  the competitive advantage sustainable method test. 
C)  the reliability resources simulation. 
D)  the VRIN test,which asks if a resource is valuable,rare,inimitable,and non-substitutable. 
E)  the organizational capability metric analysis. 
A)  the SCIR test,which asks if a resource is sustainable,competitive,internalized,and reproducible. 
B)  the competitive advantage sustainable method test. 
C)  the reliability resources simulation. 
D)  the VRIN test,which asks if a resource is valuable,rare,inimitable,and non-substitutable. 
E)  the organizational capability metric analysis.

Question 4

Companies that seize opportunities in the marketplace are usually those that have been:

Accepted Answer

A)  actively waiting,staying alert with diligent market reconnaissance and preparing internally to capitalize on potential opportunities. 
B)  the market winners in the past,because they have a proven record and are the best competitively. 
C)  adopting every opportunity for understanding that not all opportunities will be successful and rewarded commensurately. 
D)  first movers willing to accept business risk. 
E)  All of these. 
A)  actively waiting,staying alert with diligent market reconnaissance and preparing internally to capitalize on potential opportunities. 
B)  the market winners in the past,because they have a proven record and are the best competitively. 
C)  adopting every opportunity for understanding that not all opportunities will be successful and rewarded commensurately. 
D)  first movers willing to accept business risk. 
E)  All of these.

Question 5

To build a competitive advantage by out-managing rivals in performing value chain activities,a company must:

Accepted Answer

A)  position itself in the industry's more favorably situated strategic group. 
B)  develop resource strengths that will enable it to pursue the industry's most attractive opportunities. 
C)  develop core competencies and maybe a distinctive competence that rivals don't have or can't quite match and that are instrumental in helping it deliver attractive value to customers or else be more cost-efficient in how it performs value chain activities such that it has a low-cost advantage. 
D)  outsource all of its value chain activities to world-class vendors and suppliers. 
E)  eliminate its resource weaknesses. 
A)  position itself in the industry's more favorably situated strategic group. 
B)  develop resource strengths that will enable it to pursue the industry's most attractive opportunities. 
C)  develop core competencies and maybe a distinctive competence that rivals don't have or can't quite match and that are instrumental in helping it deliver attractive value to customers or else be more cost-efficient in how it performs value chain activities such that it has a low-cost advantage. 
D)  outsource all of its value chain activities to world-class vendors and suppliers. 
E)  eliminate its resource weaknesses.

Question 6

For a company to translate its performance of value chain activities into competitive advantage,it must:

Accepted Answer

A)  undertake ongoing and persistent efforts to be cost-efficient and develop differentiation advantages. 
B)  have more core competencies than rivals. 
C)  have at least three distinctive competencies. 
D)  have competencies that allow it to produce the highest-quality product in the industry. 
E)  have more competitive assets than competitive liabilities. 
A)  undertake ongoing and persistent efforts to be cost-efficient and develop differentiation advantages. 
B)  have more core competencies than rivals. 
C)  have at least three distinctive competencies. 
D)  have competencies that allow it to produce the highest-quality product in the industry. 
E)  have more competitive assets than competitive liabilities.

Question 7

Identify at least three indicators of whether a company's present strategy is working well.

Accepted Answer

The answer of Identify at least three indicators of whether...

Question 8

A company's strategic options for remedying cost disadvantages in internally performed value chain activities do not include:

Accepted Answer

A)  revamping its value chain to eliminate or bypass some cost-producing activities (particularly low value-added activities). 
B)  implementing the use of best practices,particularly for high-cost activities. 
C)  investing in productivity-enhancing,cost-saving technological improvements. 
D)  switching to activity-based costing. 
E)  outsourcing the performance of high-cost activities to vendors that can perform them more cheaply. 
A)  revamping its value chain to eliminate or bypass some cost-producing activities (particularly low value-added activities). 
B)  implementing the use of best practices,particularly for high-cost activities. 
C)  investing in productivity-enhancing,cost-saving technological improvements. 
D)  switching to activity-based costing. 
E)  outsourcing the performance of high-cost activities to vendors that can perform them more cheaply.

Question 9

Understanding where the company is competitive requires:

Accepted Answer

A)  determining whether a company has a cost-effective value chain. 
B)  developing quantitative strength ratings for the company and key rivals on each industry key success factor and each pivotal resource,capability,and value chain activity. 
C)  identifying a company's core competencies and distinctive competencies (if any). 
D)  analyzing whether a company is well positioned to gain market share and be the industry's profit leader. 
E)  developing quantitative measures of a company's chances for future profitability. 
A)  determining whether a company has a cost-effective value chain. 
B)  developing quantitative strength ratings for the company and key rivals on each industry key success factor and each pivotal resource,capability,and value chain activity. 
C)  identifying a company's core competencies and distinctive competencies (if any). 
D)  analyzing whether a company is well positioned to gain market share and be the industry's profit leader. 
E)  developing quantitative measures of a company's chances for future profitability.

Question 10

Which of the following is NOT a good example of a company's resources?

Accepted Answer

A)  More intellectual capital and better e-commerce capabilities than rivals 
B)  Fruitful partnerships or alliances with suppliers that reduce costs and/or enhance product quality and performance 
C)  Having higher earnings per share and a higher stock price than key rivals 
D)  A well-known brand name and enjoying the confidence of customers 
E)  A lower-cost value chain than rivals 
A)  More intellectual capital and better e-commerce capabilities than rivals 
B)  Fruitful partnerships or alliances with suppliers that reduce costs and/or enhance product quality and performance 
C)  Having higher earnings per share and a higher stock price than key rivals 
D)  A well-known brand name and enjoying the confidence of customers 
E)  A lower-cost value chain than rivals

Question 11

A company that does a first-rate job of managing its value chain activities relative to competitors:

Accepted Answer

A)  is likely to have more distinctive competencies than rivals. 
B)  stands a good chance of profiting from its competitive advantage. 
C)  is almost certainly going to have a longer and more profitable value chain. 
D)  usually has strong proficiencies in activity-based costing and benchmarking. 
E)  usually has the fewest primary activities and the lowest costs in the industry. 
A)  is likely to have more distinctive competencies than rivals. 
B)  stands a good chance of profiting from its competitive advantage. 
C)  is almost certainly going to have a longer and more profitable value chain. 
D)  usually has strong proficiencies in activity-based costing and benchmarking. 
E)  usually has the fewest primary activities and the lowest costs in the industry.

The most difficult part of benchmarking is:

Calculating competitive strength ratings for a company and comparing them against strength ratings for its key competitors helps indicate:

The four tests of a resource's competitive power are often referred to as:

Companies that seize opportunities in the marketplace are usually those that have been:

To build a competitive advantage by out-managing rivals in performing value chain activities,a company must:

For a company to translate its performance of value chain activities into competitive advantage,it must:

Identify at least three indicators of whether a company's present strategy is working well.

A company's strategic options for remedying cost disadvantages in internally performed value chain activities do not include:

Understanding where the company is competitive requires:

Which of the following is NOT a good example of a company's resources?

A company that does a first-rate job of managing its value chain activities relative to competitors:

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

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

The most difficult part of benchmarking is:

Calculating competitive strength ratings for a company and comparing them against strength ratings for its key competitors helps indicate:

The four tests of a resource's competitive power are often referred to as:

Companies that seize opportunities in the marketplace are usually those that have been:

To build a competitive advantage by out-managing rivals in performing value chain activities,a company must:

For a company to translate its performance of value chain activities into competitive advantage,it must:

Identify at least three indicators of whether a company's present strategy is working well.

A company's strategic options for remedying cost disadvantages in internally performed value chain activities do not include:

Understanding where the company is competitive requires:

Which of the following is NOT a good example of a company's resources?

A company that does a first-rate job of managing its value chain activities relative to competitors:

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