Question 1

In the resource-based view of the firm,examples of tangible resources include:

Accepted Answer

A)  financial resources, human resources, and firm competencies 
B)  financial resources, physical resources, and technological resources 
C)  financial resources, physical resources, and the capacity to combine intangible resources 
D)  outstanding customer service, innovativeness of products, and reputation 
A)  financial resources, human resources, and firm competencies 
B)  financial resources, physical resources, and technological resources 
C)  financial resources, physical resources, and the capacity to combine intangible resources 
D)  outstanding customer service, innovativeness of products, and reputation

Question 2

The balanced scorecard enables managers to consider their business from all of the following perspectives EXCEPT:

Accepted Answer

A)  customer perspective 
B)  internal perspective 
C)  innovation and learning perspective 
D)  ethical perspective 
A)  customer perspective 
B)  internal perspective 
C)  innovation and learning perspective 
D)  ethical perspective

Question 3

What are some of the key strengths and limitations of SWOT analysis?

Accepted Answer

SWOT analysis is a strategic planning to

Question 4

What are the key advantages of value-chain analysis over SWOT analysis?

Accepted Answer

Value-chain analysis and SWOT analysis a

Question 5

The value-chain concept assumes that both primary and support activities are capable of producing value for customers.

Accepted Answer

A) True 
 B)False

Question 6

What are some ways in which a firm's general administration can help create (or enhance)competitive advantages?

Accepted Answer

There are several ways in which a firm's

Question 7

When using industry norms as a standard of comparison,managers must be sure that the firms used in the comparisons are representative of all sizes and strategies within the industry.

Accepted Answer

A) True 
 B)False

Question 8

A resource is valuable and rare but neither difficult to imitate nor without substitutes.This should enable the firm to attain ____________.

Accepted Answer

A)  no competitive advantage 
B)  a temporary competitive advantage 
C)  competitive parity 
D)  a sustainable competitive advantage 
A)  no competitive advantage 
B)  a temporary competitive advantage 
C)  competitive parity 
D)  a sustainable competitive advantage

Question 9

Which of the following is a support activity?

Accepted Answer

A)  inbound logistics 
B)  technology development 
C)  operations 
D)  customer service 
A)  inbound logistics 
B)  technology development 
C)  operations 
D)  customer service

Question 10

A variety of firm resources include interpersonal relations among managers in the firm,its culture,and its reputation with its suppliers and customers.Such competitive advantages are based upon ____.

Accepted Answer

A)  path dependency 
B)  social complexity 
C)  physical uniqueness 
D)  tangible resources 
A)  path dependency 
B)  social complexity 
C)  physical uniqueness 
D)  tangible resources

Question 11

For a resource to provide a firm with the potential for a sustainable competitive advantage,it must have four attributes.Which of the following is not one of these attributes?

Accepted Answer

A)  rare 
B)  valuable 
C)  easy for competitors to substitute 
D)  difficult for competitors to imitate 
A)  rare 
B)  valuable 
C)  easy for competitors to substitute 
D)  difficult for competitors to imitate

Question 12

A strength of the balanced scorecard is that it is very easy to implement and that there is little need for executive sponsorship.

Accepted Answer

A) True 
 B)False

Question 13

Explain how causal ambiguity can provide a sustainable competitive advantage.Illustrate your comments with an example from a real business.

Accepted Answer

Causal ambiguity refers to the situation

Question 14

Capabilities that exhibit causal ambiguity are difficult to imitate.

Accepted Answer

A) True 
 B)False

Question 15

Toyota paid a heavy price for its excessive emphasis on cost control.By focusing on only one strength exclusively,it suffered severe losses.This is an example of the limitations of a SWOT analysis.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is not a factor that helps to explain the extent to which employees and managers will be able to obtain a proportionately high level of the profits that they generate?

Accepted Answer

A)  Employees have high bargaining power. 
B)  The cost of employee replacement is high. 
C)  The cost of exit is high for an employee. 
D)  Managers have low bargaining power. 
A)  Employees have high bargaining power. 
B)  The cost of employee replacement is high. 
C)  The cost of exit is high for an employee. 
D)  Managers have low bargaining power.

Question 17

Discuss the competitive advantage of a resource that is difficult to imitate,using an example from a real business that supports your argument.

Accepted Answer

A resource that is difficult to imitate

In the resource-based view of the firm,examples of tangible resources include:

The balanced scorecard enables managers to consider their business from all of the following perspectives EXCEPT:

What are some of the key strengths and limitations of SWOT analysis?

What are the key advantages of value-chain analysis over SWOT analysis?

The value-chain concept assumes that both primary and support activities are capable of producing value for customers.

What are some ways in which a firm's general administration can help create (or enhance)competitive advantages?

When using industry norms as a standard of comparison,managers must be sure that the firms used in the comparisons are representative of all sizes and strategies within the industry.

A resource is valuable and rare but neither difficult to imitate nor without substitutes.This should enable the firm to attain ____________.

Which of the following is a support activity?

A variety of firm resources include interpersonal relations among managers in the firm,its culture,and its reputation with its suppliers and customers.Such competitive advantages are based upon ____.

For a resource to provide a firm with the potential for a sustainable competitive advantage,it must have four attributes.Which of the following is not one of these attributes?

A strength of the balanced scorecard is that it is very easy to implement and that there is little need for executive sponsorship.

Explain how causal ambiguity can provide a sustainable competitive advantage.Illustrate your comments with an example from a real business.

Capabilities that exhibit causal ambiguity are difficult to imitate.

Toyota paid a heavy price for its excessive emphasis on cost control.By focusing on only one strength exclusively,it suffered severe losses.This is an example of the limitations of a SWOT analysis.

Which of the following is not a factor that helps to explain the extent to which employees and managers will be able to obtain a proportionately high level of the profits that they generate?

Discuss the competitive advantage of a resource that is difficult to imitate,using an example from a real business that supports your argument.

Strategic Management: Creating Competitiveadvantages

Analyzing the External Environment Ofthe Firm: Creating Competitive Advantages

Recognizing a Firms Intellectual Assets: Moving Beyond a Firms Tangibleresources

Business-Level Strategy: Creating Andsustaining Competitive Advantages

Corporate-Level Strategy: Creatingvalue Through Diversification

International Strategy: Creating Valuein Global Markets

Entrepreneurial Strategy and Competitive Dynamics

Strategic Control and Corporategovernance

Creating Effective Organizational Designs

Strategic Leadership: Creating a Learning Organization and an Ethical Organization

Managing Innovation and Fosteringcorporate Entrepreneurship

Filters

Exam 3: Assessing the Internal Environmentof the Firm

In the resource-based view of the firm,examples of tangible resources include:

The balanced scorecard enables managers to consider their business from all of the following perspectives EXCEPT:

What are some of the key strengths and limitations of SWOT analysis?

What are the key advantages of value-chain analysis over SWOT analysis?

The value-chain concept assumes that both primary and support activities are capable of producing value for customers.

What are some ways in which a firm's general administration can help create (or enhance)competitive advantages?

When using industry norms as a standard of comparison,managers must be sure that the firms used in the comparisons are representative of all sizes and strategies within the industry.

A resource is valuable and rare but neither difficult to imitate nor without substitutes.This should enable the firm to attain ____________.

Which of the following is a support activity?

A variety of firm resources include interpersonal relations among managers in the firm,its culture,and its reputation with its suppliers and customers.Such competitive advantages are based upon ____.

For a resource to provide a firm with the potential for a sustainable competitive advantage,it must have four attributes.Which of the following is not one of these attributes?

A strength of the balanced scorecard is that it is very easy to implement and that there is little need for executive sponsorship.

Explain how causal ambiguity can provide a sustainable competitive advantage.Illustrate your comments with an example from a real business.

Capabilities that exhibit causal ambiguity are difficult to imitate.

Toyota paid a heavy price for its excessive emphasis on cost control.By focusing on only one strength exclusively,it suffered severe losses.This is an example of the limitations of a SWOT analysis.

Which of the following is not a factor that helps to explain the extent to which employees and managers will be able to obtain a proportionately high level of the profits that they generate?

Discuss the competitive advantage of a resource that is difficult to imitate,using an example from a real business that supports your argument.

Strategic Management: Creating Competitiveadvantages

Analyzing the External Environment Ofthe Firm: Creating Competitive Advantages

Recognizing a Firms Intellectual Assets: Moving Beyond a Firms Tangibleresources

Business-Level Strategy: Creating Andsustaining Competitive Advantages

Corporate-Level Strategy: Creatingvalue Through Diversification

International Strategy: Creating Valuein Global Markets

Entrepreneurial Strategy and Competitive Dynamics

Strategic Control and Corporategovernance

Creating Effective Organizational Designs

Strategic Leadership: Creating a Learning Organization and an Ethical Organization

Managing Innovation and Fosteringcorporate Entrepreneurship

Filters