Question 1

Explain why a weighted competitive strength assessment is important.

Accepted Answer

The answer of Explain why a weighted competitive strength assessment...

Question 2

What is meant by the term "best practices?" Why does it matter whether a company utilizes "best practices" in performing the activities comprising its value chain?

Accepted Answer

The answer of What is meant by the term "best...

Question 3

A core competence represents a basis for competitive advantage.  Explain your answer.

Accepted Answer

A) True 
 B)False

Question 4

Draw a typical company value chain and briefly explain why the proficiency with which a firm performs the activities comprising its value chain matters.

Accepted Answer

The answer of Draw a typical company value chain and...

Question 5

A core competence

Accepted Answer

A)  retracts from a company's arsenal of competitive capabilities and competitive assets and is not a genuine resource strength. 
B)  is typically results-based, residing in a company's tangible physical assets on the balance sheet. 
C)  is often grounded in a single departments set of knowledge and expertise. 
D)  is a competitively relevant activity which a firm performs especially well in comparison to the other activities it performs. 
E)  All of these. 
A)  retracts from a company's arsenal of competitive capabilities and competitive assets and is not a genuine resource strength. 
B)  is typically results-based, residing in a company's tangible physical assets on the balance sheet. 
C)  is often grounded in a single departments set of knowledge and expertise. 
D)  is a competitively relevant activity which a firm performs especially well in comparison to the other activities it performs. 
E)  All of these.

Question 6

When a company is good at performing a particular internal activity,it is said to have

Accepted Answer

A)  a competitive advantage over rivals. 
B)  a competitive capability. 
C)  a distinctive competence. 
D)  a core competence. 
E)  a company competence. 
A)  a competitive advantage over rivals. 
B)  a competitive capability. 
C)  a distinctive competence. 
D)  a core competence. 
E)  a company competence.

Question 7

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 8

Which of the following is not a good example of a company's strength?

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 9

One important indicator of how well a company's present strategy is working is whether

Accepted Answer

A)  it has more core competencies than close rivals. 
B)  its strategy is built around at least two of the industry's key success factors. 
C)  the company is achieving its financial and strategic objectives and whether it is an above-average industry performer. 
D)  it is customarily a first-mover in introducing new or improved products (a good sign) or a late-mover (a bad sign). 
E)  it is subject to weaker competitive forces and pressures than close rivals (a good sign) or stronger competitive forces and pressures (a bad sign). 
A)  it has more core competencies than close rivals. 
B)  its strategy is built around at least two of the industry's key success factors. 
C)  the company is achieving its financial and strategic objectives and whether it is an above-average industry performer. 
D)  it is customarily a first-mover in introducing new or improved products (a good sign) or a late-mover (a bad sign). 
E)  it is subject to weaker competitive forces and pressures than close rivals (a good sign) or stronger competitive forces and pressures (a bad sign).

Question 10

A core competence

Accepted Answer

A)  gives a company competitive capability and is a genuine company strength and resource. 
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)  gives a company competitive capability and is a genuine company strength and resource. 
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 11

The competitive power of a company 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 12

Identify at least 5 indicators of whether a company's present strategy is working well.

Accepted Answer

1. Financial Performance: One indicator

Question 13

Quantitative measures of a company's competitive strength

Accepted Answer

A)  signal which competitor has the most distinctive competencies and which competitor has the fewest. 
B)  provide useful indicators of how a company compares against key rivals, factor by factor and capability by capability-thus indicating whether the company has a net overall competitive advantage or disadvantage against each rival. 
C)  reveal which competitors are in the best and worst strategic groups. 
D)  show which industry rival has the best overall market opportunities and which competitor has the poorest market opportunities. 
E)  pinpoint which industry rival is subject to the least amount of competitive pressures from the five competitive forces. 
A)  signal which competitor has the most distinctive competencies and which competitor has the fewest. 
B)  provide useful indicators of how a company compares against key rivals, factor by factor and capability by capability-thus indicating whether the company has a net overall competitive advantage or disadvantage against each rival. 
C)  reveal which competitors are in the best and worst strategic groups. 
D)  show which industry rival has the best overall market opportunities and which competitor has the poorest market opportunities. 
E)  pinpoint which industry rival is subject to the least amount of competitive pressures from the five competitive forces.

Question 14

Identifying the strategy-related issues and problems that company managers need to address and resolve entails

Accepted Answer

A)  drawing on what was learned from having analyzed the company's industry and competitive environment. 
B)  drawing on the evaluations of the company's own resources, internal circumstances, and competitiveness. 
C)  looking 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)  All of these. 
A)  drawing on what was learned from having analyzed the company's industry and competitive environment. 
B)  drawing on the evaluations of the company's own resources, internal circumstances, and competitiveness. 
C)  looking 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)  All of these.

Question 15

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 16

Resource and capability analysis is designed to

Accepted Answer

A)  ascertain the internal market place of non-distinct divisions of the company. 
B)  ascertain which of a company's resources and capabilities are competitively valuable. 
C)  stimulate demand for a product. 
D)  ascertain to what extent a competitor can sustain a competitive advantage. 
E)  stimulate economic growth for companies within the industry. 
A)  ascertain the internal market place of non-distinct divisions of the company. 
B)  ascertain which of a company's resources and capabilities are competitively valuable. 
C)  stimulate demand for a product. 
D)  ascertain to what extent a competitor can sustain a competitive advantage. 
E)  stimulate economic growth for companies within the industry.

Question 17

A competitively superior resource or capability is a company's

Accepted Answer

A)  True strategic asset providing a competitive advantage. 
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)  True strategic asset providing a competitive advantage. 
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 18

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 19

A company's strength can concern

Accepted Answer

A)  a skill, specialized expertise, or competitively important capability. 
B)  valuable human assets and intellectual capital. 
C)  an achievement or attribute that puts the company in a position of market advantage. 
D)  competitively valuable alliances or cooperative ventures. 
E)  All of these. 
A)  a skill, specialized expertise, or competitively important capability. 
B)  valuable human assets and intellectual capital. 
C)  an achievement or attribute that puts the company in a position of market advantage. 
D)  competitively valuable alliances or cooperative ventures. 
E)  All of these.

Question 20

For a company to have competitively potent resources and capabilities,they must

Accepted Answer

A)  be in sync with changes in the company's own strategy. 
B)  be in sync with its efforts to achieve a resource-based competitive advantage. 
C)  fully support company efforts to attract customers. 
D)  combat competitors' newly launched offensives to win bigger sales and market shares. 
E)  All of these. 
A)  be in sync with changes in the company's own strategy. 
B)  be in sync with its efforts to achieve a resource-based competitive advantage. 
C)  fully support company efforts to attract customers. 
D)  combat competitors' newly launched offensives to win bigger sales and market shares. 
E)  All of these.

Explain why a weighted competitive strength assessment is important.

What is meant by the term "best practices?" Why does it matter whether a company utilizes "best practices" in performing the activities comprising its value chain?

A core competence represents a basis for competitive advantage. Explain your answer.

Draw a typical company value chain and briefly explain why the proficiency with which a firm performs the activities comprising its value chain matters.

A core competence

When a company is good at performing a particular internal activity,it is said to have

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?

Which of the following is not a good example of a company's strength?

One important indicator of how well a company's present strategy is working is whether

A core competence

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

Identify at least 5 indicators of whether a company's present strategy is working well.

Quantitative measures of a company's competitive strength

Identifying the strategy-related issues and problems that company managers need to address and resolve entails

The most difficult part of benchmarking is

Resource and capability analysis is designed to

A competitively superior resource or capability is a company's

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

A company's strength can concern

For a company to have competitively potent resources and capabilities,they must

What Is Strategy and Why Is It Important

Charting a Companys Direction: Vision and 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 Operation

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

Explain why a weighted competitive strength assessment is important.

What is meant by the term "best practices?" Why does it matter whether a company utilizes "best practices" in performing the activities comprising its value chain?

A core competence represents a basis for competitive advantage. Explain your answer.

Draw a typical company value chain and briefly explain why the proficiency with which a firm performs the activities comprising its value chain matters.

A core competence

When a company is good at performing a particular internal activity,it is said to have

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?

Which of the following is not a good example of a company's strength?

One important indicator of how well a company's present strategy is working is whether

A core competence

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

Identify at least 5 indicators of whether a company's present strategy is working well.

Quantitative measures of a company's competitive strength

Identifying the strategy-related issues and problems that company managers need to address and resolve entails

The most difficult part of benchmarking is

Resource and capability analysis is designed to

A competitively superior resource or capability is a company's

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

A company's strength can concern

For a company to have competitively potent resources and capabilities,they must

What Is Strategy and Why Is It Important

Charting a Companys Direction: Vision and 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 Operation

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