Question 1

________ are the competencies or skills that a firm employs to transform inputs into outputs.

Accepted Answer

A)  Tangible resources 
B)  Reputational resources 
C)  Organizational capabilities 
D)  Intangible resources 
A)  Tangible resources 
B)  Reputational resources 
C)  Organizational capabilities 
D)  Intangible resources C

Question 2

Explain this statement: A primary benefit of the balanced scorecard is that it complements financial indicators with operational measures of customer satisfaction,internal processes,and the innovation and improvement activities of the organization.

Accepted Answer

A balanced scorecard provides top managers with a fast but comprehensive view of the business.In a nutshell,it includes financial measures that reflect the results of actions already taken,but it complements these indicators with measures of customer satisfaction,internal processes,and the innovation and improvement activities of the organization (operational measures that drive future financial performance).

Question 3

The culture of a firm also may be a resource that provides competitive advantage.Which of these companies might be a good example of this intangible resource?

Accepted Answer

A)  Google 
B)  Kmart 
C)  Wells Fargo 
D)  Walmart 
A)  Google 
B)  Kmart 
C)  Wells Fargo 
D)  Walmart A

Question 4

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 5

Which of the following examples demonstrates how successful organizations manage their primary activities?

Accepted Answer

A)  Motorola has revised its compensation system to reward employees who learn a variety of skills. 
B)  Wal-Mart implemented a sophisticated information system that resulted in reduced inventory carrying costs and shortened customer response times. 
C)  National Steel improved its efficiency by reducing the number of job classifications. 
D)  JIT inventory systems are vital to Toyota committing to fulfill new car orders within five days. 
A)  Motorola has revised its compensation system to reward employees who learn a variety of skills. 
B)  Wal-Mart implemented a sophisticated information system that resulted in reduced inventory carrying costs and shortened customer response times. 
C)  National Steel improved its efficiency by reducing the number of job classifications. 
D)  JIT inventory systems are vital to Toyota committing to fulfill new car orders within five days.

Question 6

A firm that takes on too much long-term debt to finance operations will see an immediate impact on its indicators of ________ financial leverage.

Accepted Answer

A)  short-term 
B)  long-term 
C)  relative 
D)  comparable 
A)  short-term 
B)  long-term 
C)  relative 
D)  comparable

Question 7

The Germany truck and trailer manufacturer,Schmitz Cargobull,mainly serves customers who are operators of truck or trailer fleets.What sets the company apart is its expertise in telematics (the integrated application of telecommunications data)to monitor the current state of any Schmitz Cargobull-produced trailer.What type of a value-chain support activity is this?

Accepted Answer

A)  service 
B)  technology development 
C)  human resource management 
D)  general administration 
A)  service 
B)  technology development 
C)  human resource management 
D)  general administration

Question 8

________ ratios reflect whether a firm is efficiently using its resources,

Accepted Answer

A)  Turnover 
B)  Leverage 
C)  Liquidity. 
D)  Profitability 
A)  Turnover 
B)  Leverage 
C)  Liquidity. 
D)  Profitability

Question 9

Which of the following is a support activity?

Accepted Answer

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

Question 10

Comparing your firm with all other firms in your industry assesses ________ performance.

Accepted Answer

A)  excessive 
B)  consistent 
C)  relative 
D)  non-comparable 
A)  excessive 
B)  consistent 
C)  relative 
D)  non-comparable

Question 11

The internal measures should reflect business processes that have ________ impact on customer satisfaction.These include factors that affect cycle time,quality,employee skills,and productivity.

Accepted Answer

A)  the least 
B)  variable 
C)  the most 
D)  potential 
A)  the least 
B)  variable 
C)  the most 
D)  potential

Question 12

Harley-Davidson markets motorcycles,clothes,toys,and restaurants.It uses its strong ________,which is ________.

Accepted Answer

A)  financial position; an intangible resource 
B)  brand image; an intangible resource 
C)  brand image; a tangible resource 
D)  technological resources; an intangible resource 
A)  financial position; an intangible resource 
B)  brand image; an intangible resource 
C)  brand image; a tangible resource 
D)  technological resources; an intangible resource

Question 13

For an engineering services firm,________ provides inputs,the transformation process is the engineering itself,and innovative designs and practical solutions are the outputs.

Accepted Answer

A)  experimentation 
B)  customer support 
C)  research and development 
D)  human resource management 
A)  experimentation 
B)  customer support 
C)  research and development 
D)  human resource management

Question 14

________ are typically embedded in unique routines and practices that have evolved and accumulated over time such as effective work teams.

Accepted Answer

A)  Tangible resources 
B)  Intangible resources 
C)  Reputational resources 
D)  Organizational capabilities 
A)  Tangible resources 
B)  Intangible resources 
C)  Reputational resources 
D)  Organizational capabilities

Question 15

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

Question 16

When Nordstrom,the Seattle-based department store chain,aids customers with after-sales support,it exemplifies which primary value-chain activity?

Accepted Answer

A)  operations 
B)  outbound logistics 
C)  inbound logistics 
D)  service 
A)  operations 
B)  outbound logistics 
C)  inbound logistics 
D)  service

Question 17

The value-chain concept assumes that both primary and support activities can produce value for customers.

Accepted Answer

A) True 
 B)False

Question 18

Apple combines and packages proven technology in new and innovative ways.This is an example of its use of

Accepted Answer

A)  tangible resources. 
B)  intangible resources. 
C)  organizational capabilities. 
D)  strong primary activities. 
A)  tangible resources. 
B)  intangible resources. 
C)  organizational capabilities. 
D)  strong primary activities.

Question 19

The root of the 3M innovation process is complex,hard to understand,and difficult to imitate.This is a competitive advantage based on

Accepted Answer

A)  path dependency. 
B)  social complexity. 
C)  casual ambiguity. 
D)  availability. 
A)  path dependency. 
B)  social complexity. 
C)  casual ambiguity. 
D)  availability.

Question 20

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

________ are the competencies or skills that a firm employs to transform inputs into outputs.

Explain this statement: A primary benefit of the balanced scorecard is that it complements financial indicators with operational measures of customer satisfaction,internal processes,and the innovation and improvement activities of the organization.

The culture of a firm also may be a resource that provides competitive advantage.Which of these companies might be a good example of this intangible resource?

An important implication of the balanced scorecard approach is that

Which of the following examples demonstrates how successful organizations manage their primary activities?

A firm that takes on too much long-term debt to finance operations will see an immediate impact on its indicators of ________ financial leverage.

________ ratios reflect whether a firm is efficiently using its resources,

Which of the following is a support activity?

Comparing your firm with all other firms in your industry assesses ________ performance.

The internal measures should reflect business processes that have ________ impact on customer satisfaction.These include factors that affect cycle time,quality,employee skills,and productivity.

Harley-Davidson markets motorcycles,clothes,toys,and restaurants.It uses its strong ,which is .

For an engineering services firm,________ provides inputs,the transformation process is the engineering itself,and innovative designs and practical solutions are the outputs.

________ are typically embedded in unique routines and practices that have evolved and accumulated over time such as effective work teams.

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?

When Nordstrom,the Seattle-based department store chain,aids customers with after-sales support,it exemplifies which primary value-chain activity?

The value-chain concept assumes that both primary and support activities can produce value for customers.

Apple combines and packages proven technology in new and innovative ways.This is an example of its use of

The root of the 3M innovation process is complex,hard to understand,and difficult to imitate.This is a competitive advantage based on

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?

Strategic Management: Creating Competitive Advantages

Analyzing the External Environment of the Firm: Creating Competitive Advantages

Recognizing a Firm's Intellectual Assets: Moving Beyond a Firm's 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

________ are the competencies or skills that a firm employs to transform inputs into outputs.

Explain this statement: A primary benefit of the balanced scorecard is that it complements financial indicators with operational measures of customer satisfaction,internal processes,and the innovation and improvement activities of the organization.

The culture of a firm also may be a resource that provides competitive advantage.Which of these companies might be a good example of this intangible resource?

An important implication of the balanced scorecard approach is that

Which of the following examples demonstrates how successful organizations manage their primary activities?

A firm that takes on too much long-term debt to finance operations will see an immediate impact on its indicators of ________ financial leverage.

________ ratios reflect whether a firm is efficiently using its resources,

Which of the following is a support activity?

Comparing your firm with all other firms in your industry assesses ________ performance.

The internal measures should reflect business processes that have ________ impact on customer satisfaction.These include factors that affect cycle time,quality,employee skills,and productivity.

Harley-Davidson markets motorcycles,clothes,toys,and restaurants.It uses its strong ________,which is ________.

For an engineering services firm,________ provides inputs,the transformation process is the engineering itself,and innovative designs and practical solutions are the outputs.

________ are typically embedded in unique routines and practices that have evolved and accumulated over time such as effective work teams.

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?

When Nordstrom,the Seattle-based department store chain,aids customers with after-sales support,it exemplifies which primary value-chain activity?

The value-chain concept assumes that both primary and support activities can produce value for customers.

Apple combines and packages proven technology in new and innovative ways.This is an example of its use of

The root of the 3M innovation process is complex,hard to understand,and difficult to imitate.This is a competitive advantage based on

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?

Strategic Management: Creating Competitive Advantages

Analyzing the External Environment of the Firm: Creating Competitive Advantages

Recognizing a Firm's Intellectual Assets: Moving Beyond a Firm's 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

Harley-Davidson markets motorcycles,clothes,toys,and restaurants.It uses its strong ,which is .