Question 1

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 2

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

Accepted Answer

The three best indicators of how well a

Question 3

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.

Question 4

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 5

The competitive power of a company resource strength or competitive capability hinges on all of the following EXCEPT:

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)  whether it is nonsubstitutable 
E)  whether it available in plenty. 
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)  whether it is nonsubstitutable 
E)  whether it available in plenty.

Question 6

Which of the following is NOT a reliable measure of how well a company's current strategy is working?

Accepted Answer

A)  Whether the company's sales are growing faster, slower, or about the same pace as the industry as a whole, thus resulting in a rising, falling, or stable market share 
B)  Whether it has a larger number of competitive assets than competitive liabilities and whether it has a superior quality product 
C)  The firm's image and reputation with its customers 
D)  Whether its profit margins are rising or falling and how large its margins are relative to those of its rivals 
E)  Evidence of improvement in internal processes such as defect rate, order fulfillment, delivery times, days of inventory, and employee productivity 
A)  Whether the company's sales are growing faster, slower, or about the same pace as the industry as a whole, thus resulting in a rising, falling, or stable market share 
B)  Whether it has a larger number of competitive assets than competitive liabilities and whether it has a superior quality product 
C)  The firm's image and reputation with its customers 
D)  Whether its profit margins are rising or falling and how large its margins are relative to those of its rivals 
E)  Evidence of improvement in internal processes such as defect rate, order fulfillment, delivery times, days of inventory, and employee productivity

Question 7

Identifying and assessing a company's resource strengths and weaknesses and its external opportunities and threats is called:

Accepted Answer

A)  a SWOT analysis. 
B)  a competitive asset/liability analysis. 
C)  a competitive positioning analysis. 
D)  a strategic resource assessment. 
E)  a company resource mapping. 
A)  a SWOT analysis. 
B)  a competitive asset/liability analysis. 
C)  a competitive positioning analysis. 
D)  a strategic resource assessment. 
E)  a company resource mapping.

Question 8

In determining the various strategic issues that a company needs to address,managers need to consider BOTH the results of its analysis of the company's external environment and the results of its evaluation of the company's resources and competitive position.True or false? Explain and defend your answer.

Accepted Answer

A) True 
 B)False

Question 9

Explain why a weighted competitive strength assessment is important.

Accepted Answer

Industry and competitive analyses reveal

Question 10

A much-used and potent managerial tool for determining whether a company performs particular functions or activities in a manner that represents "the best practice" when both cost and effectiveness are taken into account is:

Accepted Answer

A)  competitive strength analysis. 
B)  activity-based costing. 
C)  resource cost mapping. 
D)  SWOT analysis. 
E)  benchmarking. 
A)  competitive strength analysis. 
B)  activity-based costing. 
C)  resource cost mapping. 
D)  SWOT analysis. 
E)  benchmarking.

Question 11

Benchmarking provides a company with which of the following?

Accepted Answer

A)  Hard evidence of cost competitiveness 
B)  Proof of resource availability 
C)  A company strategy 
D)  Verification of total cost ownership 
E)  Improvements to internal processes 
A)  Hard evidence of cost competitiveness 
B)  Proof of resource availability 
C)  A company strategy 
D)  Verification of total cost ownership 
E)  Improvements to internal processes

Question 12

In a weighted competitive strength analysis,each strength measure is assigned a weight based on:

Accepted Answer

A)  its percentage share of total industry revenues. 
B)  
B) .its percentage share of total industry losses. 
C)  its perceived importance in determining a company's competitive success in the marketplace. 
D)  its percentage share of total industry profits. 
E)  what it takes to provide better analytical balance between the companies with high ratings and the companies with low ratings and thus get the sum of the weights to add up to 1.0. 
A)  its percentage share of total industry revenues. 
B)  
B) .its percentage share of total industry losses. 
C)  its perceived importance in determining a company's competitive success in the marketplace. 
D)  its percentage share of total industry profits. 
E)  what it takes to provide better analytical balance between the companies with high ratings and the companies with low ratings and thus get the sum of the weights to add up to 1.0.

Question 13

Which of the following is NOT an analytical tool for revealing a company's competitiveness and for helping to match the strategy to the company's own particular circumstances?

Accepted Answer

A)  Resource and capability analysis 
B)  SWOT 
C)  Value chain analysis 
D)  Best practice concept 
E)  Competitive strength analysis 
A)  Resource and capability analysis 
B)  SWOT 
C)  Value chain analysis 
D)  Best practice concept 
E)  Competitive strength analysis

Question 14

The road to competitive advantage begins with management's efforts to:

Accepted Answer

A)  build organizational expertise in performing certain competitively important value chain activities. 
B)  understand the value chain activities providing opportunity for growth. 
C)  build value-creating activities all along the value chain. 
D)  ensure superiority over rivals in performing even unimportant tasks and activities extremely well. 
E)  maintain the existing chain of activities to lower costs. 
A)  build organizational expertise in performing certain competitively important value chain activities. 
B)  understand the value chain activities providing opportunity for growth. 
C)  build value-creating activities all along the value chain. 
D)  ensure superiority over rivals in performing even unimportant tasks and activities extremely well. 
E)  maintain the existing chain of activities to lower costs.

Question 15

Tangible resources include:

Accepted Answer

A)  human assets and intellectual capital, which can include the talent of the work force and the creativity and innovativeness of certain personnel. 
B)  reputational assets, which can include the company's reputation for quality, service, and reliability as well as their reputation for fair dealings with suppliers. 
C)  relationships such as alliances that provide access to technologies, specialized know-how, or geographic markets. 
D)  technological assets such as patents, copyrights, and innovation technologies. 
E)  company culture and incentive system, which includes the norms of behavior and business principles. 
A)  human assets and intellectual capital, which can include the talent of the work force and the creativity and innovativeness of certain personnel. 
B)  reputational assets, which can include the company's reputation for quality, service, and reliability as well as their reputation for fair dealings with suppliers. 
C)  relationships such as alliances that provide access to technologies, specialized know-how, or geographic markets. 
D)  technological assets such as patents, copyrights, and innovation technologies. 
E)  company culture and incentive system, which includes the norms of behavior and business principles.

Question 16

A company requires a dynamically evolving portfolio of resources and capabilities to:

Accepted Answer

A)  assist the strategic planning team in overall direction. 
B)  sustain complex manufacturing systems as a strategic recall. 
C)  sustain its competitiveness and help drive improvements in its performance. 
D)  sustain benefits of high market share as an interest in growth strategies. 
E)  transform knowledge into a management style supporting competition in a globally diverse world. 
A)  assist the strategic planning team in overall direction. 
B)  sustain complex manufacturing systems as a strategic recall. 
C)  sustain its competitiveness and help drive improvements in its performance. 
D)  sustain benefits of high market share as an interest in growth strategies. 
E)  transform knowledge into a management style supporting competition in a globally diverse world.

Question 17

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 18

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

Accepted Answer

A)  contribute to 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 discontinue distinctive competencies. 
A)  contribute to 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 discontinue distinctive competencies.

Question 19

Tangible resources do not include:

Accepted Answer

A)  physical resources. 
B)  financial resources. 
C)  human assets. 
D)  technological assets. 
E)  organizational resources. 
A)  physical resources. 
B)  financial resources. 
C)  human assets. 
D)  technological assets. 
E)  organizational resources.

Question 20

Identifying the strategic issues and problems that merit front-burner managerial attention:

Accepted Answer

A)  is accomplished solely by analyzing the company's internal working environment. 
B)  helps set management's agenda for taking actions to improve the company's performance and business outlook. 
C)  is done solely by evaluating the company's own internal situation-its resources and competitive position-to help come up with a "worry list" of "how to…," "whether to…," and "what to do about…" 
D)  is done solely as a basis for drawing conclusions about whether to stick with a company's present strategy or to modify it. 
E)  is accomplished solely by analyzing the company's external environment. 
A)  is accomplished solely by analyzing the company's internal working environment. 
B)  helps set management's agenda for taking actions to improve the company's performance and business outlook. 
C)  is done solely by evaluating the company's own internal situation-its resources and competitive position-to help come up with a "worry list" of "how to…," "whether to…," and "what to do about…" 
D)  is done solely as a basis for drawing conclusions about whether to stick with a company's present strategy or to modify it. 
E)  is accomplished solely by analyzing the company's external environment.

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

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

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:

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

The competitive power of a company resource strength or competitive capability hinges on all of the following EXCEPT:

Which of the following is NOT a reliable measure of how well a company's current strategy is working?

Identifying and assessing a company's resource strengths and weaknesses and its external opportunities and threats is called:

Explain why a weighted competitive strength assessment is important.

A much-used and potent managerial tool for determining whether a company performs particular functions or activities in a manner that represents "the best practice" when both cost and effectiveness are taken into account is:

Benchmarking provides a company with which of the following?

In a weighted competitive strength analysis,each strength measure is assigned a weight based on:

Which of the following is NOT an analytical tool for revealing a company's competitiveness and for helping to match the strategy to the company's own particular circumstances?

The road to competitive advantage begins with management's efforts to:

Tangible resources include:

A company requires a dynamically evolving portfolio of resources and capabilities to:

Understanding where the company is competitive requires:

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

Tangible resources do not include:

Identifying the strategic issues and problems that merit front-burner managerial attention:

What Is Strategy and Why Is It Important

Charting a Companys Direction: Its Vision, Mission, Objectives, Andstrategy

Evaluating a Companys External Environment

The Five Generic Competitive Strategies

Strengthening a Companys Competitive Position

Strategies for Competing in International Markets

Corporate Strategy

Ethics, Corporate Social Responsibility, Environmental-Sustainability, and Strategy

Building an Organization Capable of Good Strategy Execution

Managing Internal Operations

Corporate Culture and Leadership

Filters

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

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

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

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:

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

The competitive power of a company resource strength or competitive capability hinges on all of the following EXCEPT:

Which of the following is NOT a reliable measure of how well a company's current strategy is working?

Identifying and assessing a company's resource strengths and weaknesses and its external opportunities and threats is called:

Explain why a weighted competitive strength assessment is important.

A much-used and potent managerial tool for determining whether a company performs particular functions or activities in a manner that represents "the best practice" when both cost and effectiveness are taken into account is:

Benchmarking provides a company with which of the following?

In a weighted competitive strength analysis,each strength measure is assigned a weight based on:

Which of the following is NOT an analytical tool for revealing a company's competitiveness and for helping to match the strategy to the company's own particular circumstances?

The road to competitive advantage begins with management's efforts to:

Tangible resources include:

A company requires a dynamically evolving portfolio of resources and capabilities to:

Understanding where the company is competitive requires:

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

Tangible resources do not include:

Identifying the strategic issues and problems that merit front-burner managerial attention:

What Is Strategy and Why Is It Important

Charting a Companys Direction: Its Vision, Mission, Objectives, Andstrategy

Evaluating a Companys External Environment

The Five Generic Competitive Strategies

Strengthening a Companys Competitive Position

Strategies for Competing in International Markets

Corporate Strategy

Ethics, Corporate Social Responsibility, Environmental-Sustainability, and Strategy

Building an Organization Capable of Good Strategy Execution

Managing Internal Operations

Corporate Culture and Leadership

Filters