Question 1

Stocks of resources and capabilities are created over time through divestments.

Accepted Answer

A) True 
 B)False  False

Question 2

Disney's successful launch of its "Princess Line" is representative of a ________.

Accepted Answer

A)  tangible resource 
B)  intangible resource 
C)  dynamic capability 
D)  distinctive competence 
A)  tangible resource 
B)  intangible resource 
C)  dynamic capability 
D)  distinctive competence C

Question 3

How could managers increase the value of an intangible resource such as a patent?

Accepted Answer

Continual investment may augment the value of the patent. For example, managers may decide to include additional R&D investments that may lead to further discoveries that could be bundled with the original patent. Additionally, investments in marketing efforts could increase demand, which would lead to increased value.

Question 4

There are four key roles in which middle managers are better positioned to perform than senior executives. These roles are entrepreneur, psychoanalyst, tightrope walker, and ________.

Accepted Answer

A)  human relations specialist 
B)  financial analyst 
C)  analyzer 
D)  communicator 
A)  human relations specialist 
B)  financial analyst 
C)  analyzer 
D)  communicator

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

What is causal ambiguity?

Accepted Answer

Causal ambiguity is a condition where th

Question 7

Owning resources that don't meet the VRINE criteria is considered a necessary element of conducting business.

Accepted Answer

A) True 
 B)False

Question 8

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 9

Stock can be increased through ________.

Accepted Answer

A)  imitation of assets 
B)  sustained investment 
C)  historical events 
D)  processed capabilities 
A)  imitation of assets 
B)  sustained investment 
C)  historical events 
D)  processed capabilities

Question 10

According to the VRINE model, resources and capabilities ________.

Accepted Answer

A)  are equal in their potential contributions to competitive advantage 
B)  can be copied from leading competitors to gain a competitive advantage 
C)  contribute to competitive advantage to the extent that they satisfy the components of the model 
D)  are turned into strengths when a firm gains a competitive advantage 
A)  are equal in their potential contributions to competitive advantage 
B)  can be copied from leading competitors to gain a competitive advantage 
C)  contribute to competitive advantage to the extent that they satisfy the components of the model 
D)  are turned into strengths when a firm gains a competitive advantage

Question 11

Something that a firm can do that its competitors can't do is called a distinctive capability.

Accepted Answer

A) True 
 B)False

Question 12

Core capabilities are common to the principal business operations of the firm.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is not an intangible resource?

Accepted Answer

A)  trademarks 
B)  culture 
C)  location 
D)  real estate 
A)  trademarks 
B)  culture 
C)  location 
D)  real estate

Question 14

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 15

Intangible resources offer a better opportunity for competitive advantage than tangible resources.

Accepted Answer

A) True 
 B)False

Question 16

Land is an example of a resource that could be both tangible and intangible.

Accepted Answer

A) True 
 B)False

Question 17

Use the VRINE model to analyze drug patents.

Accepted Answer

Drug patents are valuable typically beca

Question 18

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

Accepted Answer

Resources can be thought of as both stoc

Question 19

How might a firm use their integration of the value chain to gain a competitive advantage?

Accepted Answer

Firms that are highly integrated are inv

Question 20

Which of the following is not a primary activity on the value chain?

Accepted Answer

A)  inbound logistics 
B)  marketing 
C)  procurement 
D)  service 
A)  inbound logistics 
B)  marketing 
C)  procurement 
D)  service

Stocks of resources and capabilities are created over time through divestments.

Disney's successful launch of its "Princess Line" is representative of a ________.

How could managers increase the value of an intangible resource such as a patent?

There are four key roles in which middle managers are better positioned to perform than senior executives. These roles are entrepreneur, psychoanalyst, tightrope walker, and ________.

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

What is causal ambiguity?

Owning resources that don't meet the VRINE criteria is considered a necessary element of conducting business.

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

Stock can be increased through ________.

According to the VRINE model, resources and capabilities ________.

Something that a firm can do that its competitors can't do is called a distinctive capability.

Core capabilities are common to the principal business operations of the firm.

Which of the following is not an intangible resource?

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?

Intangible resources offer a better opportunity for competitive advantage than tangible resources.

Land is an example of a resource that could be both tangible and intangible.

Use the VRINE model to analyze drug patents.

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

How might a firm use their integration of the value chain to gain a competitive advantage?

Which of the following is not a primary activity on the value chain?

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

Stocks of resources and capabilities are created over time through divestments.

Disney's successful launch of its "Princess Line" is representative of a ________.

How could managers increase the value of an intangible resource such as a patent?

There are four key roles in which middle managers are better positioned to perform than senior executives. These roles are entrepreneur, psychoanalyst, tightrope walker, and ________.

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

What is causal ambiguity?

Owning resources that don't meet the VRINE criteria is considered a necessary element of conducting business.

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

Stock can be increased through ________.

According to the VRINE model, resources and capabilities ________.

Something that a firm can do that its competitors can't do is called a distinctive capability.

Core capabilities are common to the principal business operations of the firm.

Which of the following is not an intangible resource?

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?

Intangible resources offer a better opportunity for competitive advantage than tangible resources.

Land is an example of a resource that could be both tangible and intangible.

Use the VRINE model to analyze drug patents.

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

How might a firm use their integration of the value chain to gain a competitive advantage?

Which of the following is not a primary activity on the value chain?

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