Question 1

What is the capability-building process?

Accepted Answer

It is a process that effective

Question 2

Resources may be both tangible and intangible at the same time.

Accepted Answer

A) True 
 B)False

Question 3

Pfizer's patent for Viagra satisfies both the rare and valuable requirements of the VRINE model.

Accepted Answer

A) True 
 B)False

Question 4

Resource accumulation is static while possession of stocks of resources is dynamic.

Accepted Answer

A) True 
 B)False

Question 5

All the value-adding activities by which a firm produces, distributes, and markets a product are its value chain.

Accepted Answer

A) True 
 B)False

Question 6

Questions that should be asked before a firm outsources functions include all but which of the following?

Accepted Answer

A)  Can workers in another specialized firm do the work more efficiently? 
B)  Is it cost effective to outsource a function? 
C)  Are the potential problems with outsourcing worth the risk for the financial benefits gained? 
D)  Who within the firm will manage the quality of outsourced functions? 
A)  Can workers in another specialized firm do the work more efficiently? 
B)  Is it cost effective to outsource a function? 
C)  Are the potential problems with outsourcing worth the risk for the financial benefits gained? 
D)  Who within the firm will manage the quality of outsourced functions?

Question 7

Products that are ________ complex are easier to duplicate than those that are ________ complex.

Accepted Answer

A)  socially; technologically 
B)  technologically; socially 
C)  generally; rarely 
D)  rarely; generally 
A)  socially; technologically 
B)  technologically; socially 
C)  generally; rarely 
D)  rarely; generally

Question 8

Which of the following resources is not generally implemented over extended periods of time?

Accepted Answer

A)  brand equity 
B)  real estate 
C)  reputation 
D)  innovative capabilities 
A)  brand equity 
B)  real estate 
C)  reputation 
D)  innovative capabilities

Question 9

Choices about value-chain arenas, in conjunction with differentiators, solidify internal sources of competitive advantage.

Accepted Answer

A) True 
 B)False

Question 10

The VRINE model cannot be used to assess every resource or capability for potential competitive advantage.

Accepted Answer

A) True 
 B)False

Question 11

A firm that controls a valuable and scare resource always has a competitive advantage.

Accepted Answer

A) True 
 B)False

Question 12

According to the text, what are the four areas where middle managers are better positioned to contribute to competitive advantage and corporate success than senior executives?

Accepted Answer

1. Entrepreneur Middle managers are clos

Question 13

Competitors may easily imitate acquiring tangible resources.

Accepted Answer

A) True 
 B)False

Question 14

What are capabilities?

Accepted Answer

Capabilities refer t

Question 15

Core competencies are capabilities that set a firm apart from other firms.

Accepted Answer

A) True 
 B)False

Question 16

If a competitor can readily substitute resources and achieve the same benefit using different combinations of resources, the nonsubstitutability criterion is satisfied.

Accepted Answer

A) True 
 B)False

Question 17

What are table stakes?

Accepted Answer

Table stakes are resources tha

Question 18

Table stakes are resources that are rare and valuable.

Accepted Answer

A) True 
 B)False

Question 19

Intel is successful because it doesn't license its technology to other manufacturers.

Accepted Answer

A) True 
 B)False

Question 20

Tradeoff protection involves trading actions between support and primary value-chain activities.

Accepted Answer

A) True 
 B)False

What is the capability-building process?

Resources may be both tangible and intangible at the same time.

Pfizer's patent for Viagra satisfies both the rare and valuable requirements of the VRINE model.

Resource accumulation is static while possession of stocks of resources is dynamic.

All the value-adding activities by which a firm produces, distributes, and markets a product are its value chain.

Questions that should be asked before a firm outsources functions include all but which of the following?

Products that are complex are easier to duplicate than those that are complex.

Which of the following resources is not generally implemented over extended periods of time?

Choices about value-chain arenas, in conjunction with differentiators, solidify internal sources of competitive advantage.

The VRINE model cannot be used to assess every resource or capability for potential competitive advantage.

A firm that controls a valuable and scare resource always has a competitive advantage.

According to the text, what are the four areas where middle managers are better positioned to contribute to competitive advantage and corporate success than senior executives?

Competitors may easily imitate acquiring tangible resources.

What are capabilities?

Core competencies are capabilities that set a firm apart from other firms.

If a competitor can readily substitute resources and achieve the same benefit using different combinations of resources, the nonsubstitutability criterion is satisfied.

What are table stakes?

Table stakes are resources that are rare and valuable.

Intel is successful because it doesn't license its technology to other manufacturers.

Tradeoff protection involves trading actions between support and primary value-chain activities.

Introducing Strategic Management

Leading Strategically Through Effective Vision and Mission

Exploring the External Environment: Macro Industry and Dynamics

Creating Business Strategies

Crafting Business Strategy of Dynamic Contexts

Developing Corporate Strategy

Looking at International Strategies

Understanding Alliances and Cooperative Strategies

Studying Merges and Acquisitions

Organizational Structure, Systems, and Processes

Considering New Ventures and Corporate Renewal

Corporate Governance in the Twenty-First Century

Filters

Exam 3: Examining the Internal Environment: Resources

What is the capability-building process?

Resources may be both tangible and intangible at the same time.

Pfizer's patent for Viagra satisfies both the rare and valuable requirements of the VRINE model.

Resource accumulation is static while possession of stocks of resources is dynamic.

All the value-adding activities by which a firm produces, distributes, and markets a product are its value chain.

Questions that should be asked before a firm outsources functions include all but which of the following?

Products that are ________ complex are easier to duplicate than those that are ________ complex.

Which of the following resources is not generally implemented over extended periods of time?

Choices about value-chain arenas, in conjunction with differentiators, solidify internal sources of competitive advantage.

The VRINE model cannot be used to assess every resource or capability for potential competitive advantage.

A firm that controls a valuable and scare resource always has a competitive advantage.

According to the text, what are the four areas where middle managers are better positioned to contribute to competitive advantage and corporate success than senior executives?

Competitors may easily imitate acquiring tangible resources.

What are capabilities?

Core competencies are capabilities that set a firm apart from other firms.

If a competitor can readily substitute resources and achieve the same benefit using different combinations of resources, the nonsubstitutability criterion is satisfied.

What are table stakes?

Table stakes are resources that are rare and valuable.

Intel is successful because it doesn't license its technology to other manufacturers.

Tradeoff protection involves trading actions between support and primary value-chain activities.

Introducing Strategic Management

Leading Strategically Through Effective Vision and Mission

Exploring the External Environment: Macro Industry and Dynamics

Creating Business Strategies

Crafting Business Strategy of Dynamic Contexts

Developing Corporate Strategy

Looking at International Strategies

Understanding Alliances and Cooperative Strategies

Studying Merges and Acquisitions

Organizational Structure, Systems, and Processes

Considering New Ventures and Corporate Renewal

Corporate Governance in the Twenty-First Century

Filters

Products that are complex are easier to duplicate than those that are complex.