Question 1

The most important payoff of doing a thorough SWOT analysis is

Accepted Answer

A)  identifying whether the company's value chain is cost effective vis-à-vis the value chains of rivals. 
B)  helping strategy makers benchmark the company's resource strengths against industry key success factors. 
C)  enabling a company to assess its leverage in negotiations with buyers. 
D)  revealing whether a company's market share,measures of profitability,and sales compare favorably or unfavorably vis-à-vis key competitors. 
E)  assisting strategy makers in drawing conclusions about the company's overall situation and crafting a strategy that is well-matched to the company's resources and capabilities,its market opportunities,and the external threats to its future well-being. 
A)  identifying whether the company's value chain is cost effective vis-à-vis the value chains of rivals. 
B)  helping strategy makers benchmark the company's resource strengths against industry key success factors. 
C)  enabling a company to assess its leverage in negotiations with buyers. 
D)  revealing whether a company's market share,measures of profitability,and sales compare favorably or unfavorably vis-à-vis key competitors. 
E)  assisting strategy makers in drawing conclusions about the company's overall situation and crafting a strategy that is well-matched to the company's resources and capabilities,its market opportunities,and the external threats to its future well-being.

Question 2

Which of the following is not one of the five questions that comprise the task of evaluating a company's competitive strength and cost structure?

Accepted Answer

A)  What are the company's most profitable geographic market segments? 
B)  How well is the company's strategy working? 
C)  Is the company's cost structure and customer value proposition competitive? 
D)  Is the company competitively stronger or weaker than key rivals? 
E)  What strategic issues and problems merit front-burner management attention? 
A)  What are the company's most profitable geographic market segments? 
B)  How well is the company's strategy working? 
C)  Is the company's cost structure and customer value proposition competitive? 
D)  Is the company competitively stronger or weaker than key rivals? 
E)  What strategic issues and problems merit front-burner management attention?

Question 3

The common types of valuable resources and competitive capabilities that management should consider when crafting a strategy include

Accepted Answer

A)  a skill,specialized expertise,or competitively important capability. 
B)  valuable physical and intangible assets. 
C)  valuable human assets and intellectual capital. 
D)  valuable organizational assets and competitively valuable alliances. 
E)  All of these choices are correct. 
A)  a skill,specialized expertise,or competitively important capability. 
B)  valuable physical and intangible assets. 
C)  valuable human assets and intellectual capital. 
D)  valuable organizational assets and competitively valuable alliances. 
E)  All of these choices are correct.

Question 4

Which of the following is not a tangible resource?

Accepted Answer

A)  technological assets 
B)  physical assets 
C)  financial assets 
D)  organizational resources 
E)  None of these choices are correct. 
A)  technological assets 
B)  physical assets 
C)  financial assets 
D)  organizational resources 
E)  None of these choices are correct.

Question 5

For a particular company resource to have meaningful competitive power and perhaps qualify as a basis for competitive advantage,it should

Accepted Answer

A)  be competitively important,hard for competitors to copy or imitate,rare and something rivals lack,and not be easily trumped by the substitute resources/capabilities of rivals. 
B)  be something that a company does internally rather than in collaborative arrangements with outsiders. 
C)  be patentable. 
D)  be rooted in the company's organizational capital,information capital,or human capital. 
E)  have the potential for lowering the firm's unit costs. 
A)  be competitively important,hard for competitors to copy or imitate,rare and something rivals lack,and not be easily trumped by the substitute resources/capabilities of rivals. 
B)  be something that a company does internally rather than in collaborative arrangements with outsiders. 
C)  be patentable. 
D)  be rooted in the company's organizational capital,information capital,or human capital. 
E)  have the potential for lowering the firm's unit costs.

Question 6

Draw a typical company value chain,and briefly explain the difference between primary activities and support activities.

Accepted Answer

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

Question 7

A company's resource weaknesses can relate to

Accepted Answer

A)  inferior or unproven skills,lack of expertise,or intellectual capital shortfalls in competitively important parts of the business. 
B)  something that it lacks or does poorly (in comparison to rivals). 
C)  deficiencies in competitively important physical,organizational,or intangible assets. 
D)  missing or competitively inferior capabilities in key areas. 
E)  All of these choices are correct. 
A)  inferior or unproven skills,lack of expertise,or intellectual capital shortfalls in competitively important parts of the business. 
B)  something that it lacks or does poorly (in comparison to rivals). 
C)  deficiencies in competitively important physical,organizational,or intangible assets. 
D)  missing or competitively inferior capabilities in key areas. 
E)  All of these choices are correct.

Question 8

Which one of the following is not something that can be learned from doing a competitive strength assessment?

Accepted Answer

A)  factors on which a company is competitively strongest and weakest vis-à-vis key rivals 
B)  whether a company should correct its weaknesses by adopting best practices and/or revamping the makeup of its value chain 
C)  which of the rated companies is competitively strongest and what size competitive advantage it enjoys 
D)  whether a company has a net competitive advantage or a net competitive disadvantage relative to key rivals (with the size of the advantage/disadvantage being indicated by the differences among the companies' competitive strength scores) 
E)  which rival company is competitively weakest and the areas where it is most vulnerable to competitive attack 
A)  factors on which a company is competitively strongest and weakest vis-à-vis key rivals 
B)  whether a company should correct its weaknesses by adopting best practices and/or revamping the makeup of its value chain 
C)  which of the rated companies is competitively strongest and what size competitive advantage it enjoys 
D)  whether a company has a net competitive advantage or a net competitive disadvantage relative to key rivals (with the size of the advantage/disadvantage being indicated by the differences among the companies' competitive strength scores) 
E)  which rival company is competitively weakest and the areas where it is most vulnerable to competitive attack

Question 9

A company that lacks a stand-alone resource that is competitively powerful may attempt to develop a competitive advantage through

Accepted Answer

A)  improved employee training programs,new marketing promotions,or technological enhancements to production processes. 
B)  the development of a new business strategy that draws upon existing resource strengths. 
C)  extensive strategic planning and resource identification sessions involving managers at all levels of the organization. 
D)  bundled resources that enable superior performance of cross-functional capabilities that can be leveraged to support its business model and strategy. 
E)  devising clever approaches to turning resource weaknesses into resource strengths. 
A)  improved employee training programs,new marketing promotions,or technological enhancements to production processes. 
B)  the development of a new business strategy that draws upon existing resource strengths. 
C)  extensive strategic planning and resource identification sessions involving managers at all levels of the organization. 
D)  bundled resources that enable superior performance of cross-functional capabilities that can be leveraged to support its business model and strategy. 
E)  devising clever approaches to turning resource weaknesses into resource strengths.

Question 10

The competitive power of a company resource depends on

Accepted Answer

A)  whether it helps differentiate a company's product offering from the product offerings of rival firms. 
B)  whether the resource is really competitively valuable,if it is rare and something competitors lack,how hard it is to copy or imitate,and how easily it can be trumped by the substitute resource strengths and competitive capabilities of rivals. 
C)  whether customers are aware of the resource and view it positively enough to boost the company's brand name reputation. 
D)  whether the resource is something rivals are unable to perform,if it is an important differentiating product or service feature,how strongly it contributes to the company's brand image,and if it is the foundation of a cost-based advantage. 
E)  whether the resource is technology-based or based on superior marketing know-how. 
A)  whether it helps differentiate a company's product offering from the product offerings of rival firms. 
B)  whether the resource is really competitively valuable,if it is rare and something competitors lack,how hard it is to copy or imitate,and how easily it can be trumped by the substitute resource strengths and competitive capabilities of rivals. 
C)  whether customers are aware of the resource and view it positively enough to boost the company's brand name reputation. 
D)  whether the resource is something rivals are unable to perform,if it is an important differentiating product or service feature,how strongly it contributes to the company's brand image,and if it is the foundation of a cost-based advantage. 
E)  whether the resource is technology-based or based on superior marketing know-how.

Question 11

The external market opportunities that are most relevant to a company are the ones that

Accepted Answer

A)  increase market share. 
B)  reinforce its overall business strategy. 
C)  match up well with the firm's financial resources and competitive capabilities,offer the best growth and profitability,and present the most potential for competitive advantage. 
D)  correct its internal weaknesses and resource deficiencies. 
E)  help defend against the external threats to its well-being. 
A)  increase market share. 
B)  reinforce its overall business strategy. 
C)  match up well with the firm's financial resources and competitive capabilities,offer the best growth and profitability,and present the most potential for competitive advantage. 
D)  correct its internal weaknesses and resource deficiencies. 
E)  help defend against the external threats to its well-being.

Question 12

A company's competitive strength scores

Accepted Answer

A)  pinpoint its strengths and weaknesses against rivals and point to offensive and defensive strategies capable of producing first-rate results. 
B)  determine whether a company has a cost-effective value chain. 
C)  learn if the company's market opportunities are better than those of its rival. 
D)  analyze whether a company is well positioned to gain market share and be the industry's profit leader. 
E)  determine whether a company's resource strengths are sufficient to allow it to earn bigger profits than rivals. 
A)  pinpoint its strengths and weaknesses against rivals and point to offensive and defensive strategies capable of producing first-rate results. 
B)  determine whether a company has a cost-effective value chain. 
C)  learn if the company's market opportunities are better than those of its rival. 
D)  analyze whether a company is well positioned to gain market share and be the industry's profit leader. 
E)  determine whether a company's resource strengths are sufficient to allow it to earn bigger profits than rivals.

Question 13

Imitation by rivals is most challenging when

Accepted Answer

A)  resources are unique. 
B)  resources must be built over time. 
C)  capabilities reflect a high level of social complexity and causal ambiguity. 
D)  resources and capabilities require a high level of capital investment. 
E)  All of these choices are correct. 
A)  resources are unique. 
B)  resources must be built over time. 
C)  capabilities reflect a high level of social complexity and causal ambiguity. 
D)  resources and capabilities require a high level of capital investment. 
E)  All of these choices are correct.

Question 14

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

Accepted Answer

A)  those 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 that offer the company a chance to raise entry barriers 
C)  those that help promote greater diversification of revenues and profits 
D)  those that match up well with the firm's financial resources and competitive capabilities,offer the best growth and profitability,and present the most potential for competitive advantage 
E)  those that help correct a company's biggest weaknesses and competitive deficiencies 
A)  those 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 that offer the company a chance to raise entry barriers 
C)  those that help promote greater diversification of revenues and profits 
D)  those that match up well with the firm's financial resources and competitive capabilities,offer the best growth and profitability,and present the most potential for competitive advantage 
E)  those that help correct a company's biggest weaknesses and competitive deficiencies

Question 15

Which one of the following is not part of conducting a SWOT analysis?

Accepted Answer

A)  identifying a company's resource strengths and competitive capabilities 
B)  benchmarking the company's resource strengths and competitive capabilities against industry key success factors 
C)  identifying a company's market opportunities 
D)  drawing conclusions about the company's overall business situation 
E)  matching the company's strategy to its resource strengths and market opportunities,correcting problematic weaknesses,and defending against worrisome threats 
A)  identifying a company's resource strengths and competitive capabilities 
B)  benchmarking the company's resource strengths and competitive capabilities against industry key success factors 
C)  identifying a company's market opportunities 
D)  drawing conclusions about the company's overall business situation 
E)  matching the company's strategy to its resource strengths and market opportunities,correcting problematic weaknesses,and defending against worrisome threats

Question 16

What is benchmarking and why is it a strategically important analytical tool?

Accepted Answer

Benchmarking is a systematic process of

Question 17

Doing a competitive strength assessment entails

Accepted Answer

A)  determining whether a company has a cost-effective value chain. 
B)  ranking the company against major rivals on each of the important factors that determine market success and ascertaining whether the company has a net competitive advantage or disadvantage versus major rivals. 
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)  ranking the company against major rivals on each of the important factors that determine market success and ascertaining whether the company has a net competitive advantage or disadvantage versus major rivals. 
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

The most difficult part of benchmarking is

Accepted Answer

A)  whether to do it at all. 
B)  figuring out 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)  whether to do it at all. 
B)  figuring out 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 19

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 20

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.

The most important payoff of doing a thorough SWOT analysis is

Which of the following is not one of the five questions that comprise the task of evaluating a company's competitive strength and cost structure?

The common types of valuable resources and competitive capabilities that management should consider when crafting a strategy include

Which of the following is not a tangible resource?

For a particular company resource to have meaningful competitive power and perhaps qualify as a basis for competitive advantage,it should

Draw a typical company value chain,and briefly explain the difference between primary activities and support activities.

A company's resource weaknesses can relate to

Which one of the following is not something that can be learned from doing a competitive strength assessment?

A company that lacks a stand-alone resource that is competitively powerful may attempt to develop a competitive advantage through

The competitive power of a company resource depends on

The external market opportunities that are most relevant to a company are the ones that

A company's competitive strength scores

Imitation by rivals is most challenging when

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

Which one of the following is not part of conducting a SWOT analysis?

What is benchmarking and why is it a strategically important analytical tool?

Doing a competitive strength assessment entails

The most difficult part of benchmarking is

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

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

Strategy,Business Models, and Competitive Advantage

Strategy Formulation, Execution, and Governance

Evaluating a Companys External Environment

The Five Generic Competitive Strategies

Strength-Ending a Company Competitive Position: Strategic Moves, Timing, and Scope of Operations

Strategies for Competing in International Markets

Corporate Strategy: Diversification and the Multi-Business Company

Ethics,Corporate Social Responsibility,Environmental Sustainability, and Strategy

Super Strategy Execution-Another Path to Competitive Advantage

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

The most important payoff of doing a thorough SWOT analysis is

Which of the following is not one of the five questions that comprise the task of evaluating a company's competitive strength and cost structure?

The common types of valuable resources and competitive capabilities that management should consider when crafting a strategy include

Which of the following is not a tangible resource?

For a particular company resource to have meaningful competitive power and perhaps qualify as a basis for competitive advantage,it should

Draw a typical company value chain,and briefly explain the difference between primary activities and support activities.

A company's resource weaknesses can relate to

Which one of the following is not something that can be learned from doing a competitive strength assessment?

A company that lacks a stand-alone resource that is competitively powerful may attempt to develop a competitive advantage through

The competitive power of a company resource depends on

The external market opportunities that are most relevant to a company are the ones that

A company's competitive strength scores

Imitation by rivals is most challenging when

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

Which one of the following is not part of conducting a SWOT analysis?

What is benchmarking and why is it a strategically important analytical tool?

Doing a competitive strength assessment entails

The most difficult part of benchmarking is

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

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

Strategy,Business Models, and Competitive Advantage

Strategy Formulation, Execution, and Governance

Evaluating a Companys External Environment

The Five Generic Competitive Strategies

Strength-Ending a Company Competitive Position: Strategic Moves, Timing, and Scope of Operations

Strategies for Competing in International Markets

Corporate Strategy: Diversification and the Multi-Business Company

Ethics,Corporate Social Responsibility,Environmental Sustainability, and Strategy

Super Strategy Execution-Another Path to Competitive Advantage

Filters