Question 1

The innovation and learning perspective of the balanced scorecard answers which of the following questions?

Accepted Answer

A) How do customers see us? 
B) What must we excel at? 
C) How do we look to shareholders? 
D) Can we continue to improve and create value? 
A) How do customers see us? 
B) What must we excel at? 
C) How do we look to shareholders? 
D) Can we continue to improve and create value?

Question 2

Value-chain analysis assumes that the basic economic purpose of a firm is to create value and it is a useful framework for analyzing the strengths and weaknesses of the firm.

Accepted Answer

A) True 
 B)False

Question 3

Historical comparisons provide information to managers about changes in the competitive position of a firm. Historical comparisons often are misleading

Accepted Answer

A) if the overall strategy of the firm is the same. 
B) if the firm shows constant growth. 
C) in periods of recession or economic boom. 
D) if the firm's stock is publicly traded. 
A) if the overall strategy of the firm is the same. 
B) if the firm shows constant growth. 
C) in periods of recession or economic boom. 
D) if the firm's stock is publicly traded.

Question 4

Apple Inc. reported revenues of 171 billion USD and net income of 37 billion USD in 2012. These figures represent a stunning annual growth in revenue and net income of 57 percent and 43 percent, respectively, for the 2011 to 2013 time period. This information indicates the importance of using __________ to evaluate company financial performance.

Accepted Answer

A) financial ratios 
B) industry norms 
C) historical comparisons 
D) competitor analysis 
A) financial ratios 
B) industry norms 
C) historical comparisons 
D) competitor analysis

Question 5

FedEx employees take computer-based job competency tests every 6 to 12 months in order to identify areas of individual weakness and provide input to a computer database of employee skills. This is an example of a tangible resource.

Accepted Answer

A) True 
 B)False

Question 6

Information technology (IT) can also play a key role in enhancing the value that a company can provide its customers and, in turn, increasing its own revenues and profits. IT is an activity within the support activities of general administration.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is not a tangible resource?

Accepted Answer

A) technical and scientific skills 
B) trade secrets, patents, copyrights 
C) state-of-the art machinery 
D) company borrowing capacity 
A) technical and scientific skills 
B) trade secrets, patents, copyrights 
C) state-of-the art machinery 
D) company borrowing capacity

Question 8

Employees will be able to obtain a proportionately high level of profits they generate (relative to the firm) if

Accepted Answer

A) suppliers are loyal to the firm. 
B) their expertise is firm-specific. 
C) the cost to the firm of replacing them is high. 
D) the firm's resources are path dependent. 
A) suppliers are loyal to the firm. 
B) their expertise is firm-specific. 
C) the cost to the firm of replacing them is high. 
D) the firm's resources are path dependent.

Question 9

The resource-based view (RBV) of the firm combines the following two perspectives:

Accepted Answer

A) the primary and support activities of the firm. 
B) the interrelationships among the primary activities of the firm and corporate management. 
C) the internal analysis of the firm and the external analysis of the industry and competitive environment. 
D) the industry and the competitive environment. 
A) the primary and support activities of the firm. 
B) the interrelationships among the primary activities of the firm and corporate management. 
C) the internal analysis of the firm and the external analysis of the industry and competitive environment. 
D) the industry and the competitive environment.

Question 10

Frito-Lay uses crowdsourcing to make its Super Bowl ads. This is an example of a primary activity in the value chain.

Accepted Answer

A) True 
 B)False

Question 11

In considering the business from the customer perspective using the balanced scorecard, company performance is essential.

Accepted Answer

A) True 
 B)False

Question 12

Modern plant and facilities as well as favorable manufacturing locations are tangible resources.

Accepted Answer

A) True 
 B)False

Question 13

In assessing its primary activities, an airline would examine

Accepted Answer

A) employee training programs. 
B) baggage handling. 
C) criteria for lease versus purchase decisions. 
D) the effectiveness of its lobbying activities. 
A) employee training programs. 
B) baggage handling. 
C) criteria for lease versus purchase decisions. 
D) the effectiveness of its lobbying activities.

Question 14

A SWOT analysis alone __________ helps a firm develop competitive advantages that it can sustain over time.

Accepted Answer

A) usually 
B) often 
C) rarely 
D) regularly 
A) usually 
B) often 
C) rarely 
D) regularly

Question 15

The best measure of company ability to meet imminent financial obligations is known as the

Accepted Answer

A) debt ratio. 
B) profit margin. 
C) total asset turnover. 
D) current ratio. 
A) debt ratio. 
B) profit margin. 
C) total asset turnover. 
D) current ratio.

Question 16

An important implication of the balanced scorecard approach is that

Accepted Answer

A) managers need to recognize that satisfaction of stockholder demands is their primary job. 
B) the emphasis on customer satisfaction and financial goals are only a means to that end. 
C) managers should not look at their job as primarily balancing stakeholder demands. 
D) gains in financial performance must come at a cost of employee satisfaction. 
A) managers need to recognize that satisfaction of stockholder demands is their primary job. 
B) the emphasis on customer satisfaction and financial goals are only a means to that end. 
C) managers should not look at their job as primarily balancing stakeholder demands. 
D) gains in financial performance must come at a cost of employee satisfaction.

Question 17

Customer service includes

Accepted Answer

A) product promotion. 
B) procurement of critical supplies. 
C) product distribution. 
D) parts supply. 
A) product promotion. 
B) procurement of critical supplies. 
C) product distribution. 
D) parts supply.

Question 18

Inbound logistics include all activities associated with transforming inputs into the final product form such as machining, packaging, assembly, equipment, testing, printing, and facility operations.

Accepted Answer

A) True 
 B)False

Question 19

A marketing department that promises delivery faster than the ability of the production department to produce is an example of a lack of understanding of the

Accepted Answer

A) interrelationships among functional areas and firm strategies organizational culture and leadership. 
B) organizational culture and leadership. 
C) need to maintain the reputation of the company. 
D) synergy of the business units. 
A) interrelationships among functional areas and firm strategies organizational culture and leadership. 
B) organizational culture and leadership. 
C) need to maintain the reputation of the company. 
D) synergy of the business units.

Question 20

Which of the following groups generally is charged with creating value through the process of organizing, coordinating, and leveraging employees as well as other forms of capital such as plant, equipment, and financial capital?

Accepted Answer

A) unions 
B) boards of directors 
C) managers 
D) stakeholders 
A) unions 
B) boards of directors 
C) managers 
D) stakeholders

The innovation and learning perspective of the balanced scorecard answers which of the following questions?

Value-chain analysis assumes that the basic economic purpose of a firm is to create value and it is a useful framework for analyzing the strengths and weaknesses of the firm.

Historical comparisons provide information to managers about changes in the competitive position of a firm. Historical comparisons often are misleading

FedEx employees take computer-based job competency tests every 6 to 12 months in order to identify areas of individual weakness and provide input to a computer database of employee skills. This is an example of a tangible resource.

Information technology (IT) can also play a key role in enhancing the value that a company can provide its customers and, in turn, increasing its own revenues and profits. IT is an activity within the support activities of general administration.

Which of the following is not a tangible resource?

Employees will be able to obtain a proportionately high level of profits they generate (relative to the firm) if

The resource-based view (RBV) of the firm combines the following two perspectives:

Frito-Lay uses crowdsourcing to make its Super Bowl ads. This is an example of a primary activity in the value chain.

In considering the business from the customer perspective using the balanced scorecard, company performance is essential.

Modern plant and facilities as well as favorable manufacturing locations are tangible resources.

In assessing its primary activities, an airline would examine

A SWOT analysis alone __________ helps a firm develop competitive advantages that it can sustain over time.

The best measure of company ability to meet imminent financial obligations is known as the

An important implication of the balanced scorecard approach is that

Customer service includes

Inbound logistics include all activities associated with transforming inputs into the final product form such as machining, packaging, assembly, equipment, testing, printing, and facility operations.

A marketing department that promises delivery faster than the ability of the production department to produce is an example of a lack of understanding of the

Which of the following groups generally is charged with creating value through the process of organizing, coordinating, and leveraging employees as well as other forms of capital such as plant, equipment, and financial capital?

Strategic Management: Creating Competitive Advantages

Analyzing the External Environment of the Firm: Creating Competitive Advantages

Recognizing a Firms Intellectual Assets: Moving Beyond a Firms Tangible Resources

Business-Level Strategy: Creating and Sustaining Competitive Advantages

Corporate-Level Strategy: Creating Value Through Diversification

International Strategy: Creating Value in Global Markets

Entrepreneurial Strategy and Competitive Dynamics

Strategic Control and Corporate Governance

Creating Effective Organizational Designs

Strategic Leadership: Creating a Learning Organization and an Ethical Organization

Managing Innovation and Fostering Corporate Entrepreneurship

Filters

Exam 3: Assessing the Internal Environment of the Firm

The innovation and learning perspective of the balanced scorecard answers which of the following questions?

Value-chain analysis assumes that the basic economic purpose of a firm is to create value and it is a useful framework for analyzing the strengths and weaknesses of the firm.

Historical comparisons provide information to managers about changes in the competitive position of a firm. Historical comparisons often are misleading

FedEx employees take computer-based job competency tests every 6 to 12 months in order to identify areas of individual weakness and provide input to a computer database of employee skills. This is an example of a tangible resource.

Information technology (IT) can also play a key role in enhancing the value that a company can provide its customers and, in turn, increasing its own revenues and profits. IT is an activity within the support activities of general administration.

Which of the following is not a tangible resource?

Employees will be able to obtain a proportionately high level of profits they generate (relative to the firm) if

The resource-based view (RBV) of the firm combines the following two perspectives:

Frito-Lay uses crowdsourcing to make its Super Bowl ads. This is an example of a primary activity in the value chain.

In considering the business from the customer perspective using the balanced scorecard, company performance is essential.

Modern plant and facilities as well as favorable manufacturing locations are tangible resources.

In assessing its primary activities, an airline would examine

A SWOT analysis alone __________ helps a firm develop competitive advantages that it can sustain over time.

The best measure of company ability to meet imminent financial obligations is known as the

An important implication of the balanced scorecard approach is that

Customer service includes

Inbound logistics include all activities associated with transforming inputs into the final product form such as machining, packaging, assembly, equipment, testing, printing, and facility operations.

A marketing department that promises delivery faster than the ability of the production department to produce is an example of a lack of understanding of the

Which of the following groups generally is charged with creating value through the process of organizing, coordinating, and leveraging employees as well as other forms of capital such as plant, equipment, and financial capital?

Strategic Management: Creating Competitive Advantages

Analyzing the External Environment of the Firm: Creating Competitive Advantages

Recognizing a Firms Intellectual Assets: Moving Beyond a Firms Tangible Resources

Business-Level Strategy: Creating and Sustaining Competitive Advantages

Corporate-Level Strategy: Creating Value Through Diversification

International Strategy: Creating Value in Global Markets

Entrepreneurial Strategy and Competitive Dynamics

Strategic Control and Corporate Governance

Creating Effective Organizational Designs

Strategic Leadership: Creating a Learning Organization and an Ethical Organization

Managing Innovation and Fostering Corporate Entrepreneurship

Filters