Exam 3: Assessing the Internal Environment of the Firm

In a telephone operating company,negotiating and maintaining ongoing relations with regulatory bodies can be among the most important activities for competitive advantage.What type of value-chain support activity is this?

Value-chain analysis assumes that the basic economic purpose of a firm is to create value,and it is a useful framework for analyzing the strengths and weaknesses of the firm.

The internal business perspective of the balanced scorecard answers which of the following questions?

In terms of value-chain analysis,a telephone operating company would find that negotiating and maintaining ongoing relations with regulatory bodies are important activities for achieving

Tangible resources are assets that are relatively easy to identify such as financial and physical assets.

Apple Inc.reported revenues of 234 billion USD and net income of 53 billion USD in 2015.These figures represent a stunning annual growth in revenue and net income of 28 percent and 33 percent,respectively,for 2014.This information indicates the importance of using ________ to evaluate company financial performance.

Raymond Ozzie,the software designer who was critical in the development of Lotus Notes,was able to dictate the terms under which IBM acquired Lotus.This illustrates that he had ________ bargaining power based on the ________ cost required by the firm to replace him.

Which of the following lists consists of support activities?

If managers do not recognize from the beginning that the balanced scorecard is not a ________ and fail to commit to it long term,the organization will be disappointed.

Value-chain analysis can only be applied to manufacturing operations.

For a firm such as Nordstrom that has no manufacturing operations,value is added by developing expertise in the procurement of finished goods and by displaying them in its stores in a way that enhances sales.In the value chain,procurement activities become the primary activity.This begins with ________ and ends with ________.

Historical comparisons provide information to managers about changes in the competitive position of a firm.Historical comparisons often are misleading

Financial resources such as cash and cash equivalents are intangible resources.

A competitive advantage based on inimitability can be sustained for at least some time,if it has the following characteristics:

From the innovation and learning perspective,survival is dependent upon managers making ________ changes to existing products and services as well as introduce entirely new products with expanded capabilities.

In contrast to ________ interactions,which allow the firm to gain insights on the needs of a particular customer,________ offers the opportunity to leverage the wisdom of a larger crowd.

The innovation and learning perspective of the balanced scorecard answers which of the following questions?

Explain the difference between tangible and intangible resources.Provide an example of each.

________ is/are associated with collecting,storing,and distributing the product or service to buyers.They consist of warehousing,material handling,delivery operation,order processing,and scheduling.

Many firms are finding that high-tech,computerized training has dual benefits.It develops employees who are more effective and reduces costs at the same time.Employees at FedEx take computer-based job competency tests every 6 to 12 months.This is an example of a(n)________ ________ tangible resource.