Exam 3: Examining the Internal Environment: Resources

Southwest Airlines operates at a significantly lower cost than its competitors.

The basic building blocks of a firm's strategy are its resources and capabilities.

Undifferentiated resources are difficult to purchase through normal supply chain channels.

Corporate jets are an example of a resource that can either be valuable or can provide little economic value.

Dell's distribution and marketing operations rest on a direct-sales model that avoids retailers.

What is the competitive implication of inimitability?

VRINE analysis allows managers to test the importance of resources and capabilities.

Higher equity multiplication means that a firm is using a greater amount of ________ to finance its productive assets.

Resources can be considered ________.

Discuss the two concepts that demonstrate the dynamic aspects of resources and capabilities.

Explain the concept of tradeoff protection and the connection to competitive advantage.

A patent is an example of a rare and valuable resource.

Coca-Cola has a brand that is recognized all over the world. The extent of the company's brand recognition may be difficult to imitate because it was developed ________.

_____ are processes in which a firm integrates or upgrades resources and capabilities in order to strategically respond to environmental changes.

Asset turnover measures a firm's ________.

If a firm is involved in every stage of the value chain, it is highly integrated.

The key to the value-chain approach to competitive advantage is ________.

Perspectives on competitive advantage include all but which of the following?

Discuss the three criteria that appear to be common among successful outsourcing arrangements.

Dynamic capabilities are processes by which a firm integrates, reconfigures, acquires, or divests resources.