Question 1

Rarity is defined as scarcity relative to demand.

Accepted Answer

A) True 
 B)False

Question 2

The process of resource accumulation is similar to the static possession of stocks of resources and capabilities.

Accepted Answer

A) True 
 B)False

Question 3

Firms perform differently within similar industry environments because of the interdependent relationship among resources, capabilities, and ________.

Accepted Answer

A)  managerial decision making 
B)  technology 
C)  strengths 
D)  dynamic tradeoffs 
A)  managerial decision making 
B)  technology 
C)  strengths 
D)  dynamic tradeoffs

Question 4

Value-chain management forces firms to handle all value-chain activities internally.

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

The terms Competences and capabilities are interchangeable.

Accepted Answer

A) True 
 B)False

Question 7

Brand equity can be purchased without buying an existing brand from another company.

Accepted Answer

A) True 
 B)False

Question 8

Possessing and controlling a resource are necessary and sufficient for gaining a competitive advantage.

Accepted Answer

A) True 
 B)False

Question 9

Discuss the entrepreneurial, capability-building, and renewal processes of senior managers.

Accepted Answer

1. The entrepreneurial process encourage

Question 10

There are certain generic resources available that any firm could acquire.

Accepted Answer

A) True 
 B)False

Question 11

A firm's skills in using its resources to create goods and services are its ________.

Accepted Answer

A)  resources 
B)  capabilities 
C)  values 
D)  logistics 
A)  resources 
B)  capabilities 
C)  values 
D)  logistics

Rarity is defined as scarcity relative to demand.

The process of resource accumulation is similar to the static possession of stocks of resources and capabilities.

Firms perform differently within similar industry environments because of the interdependent relationship among resources, capabilities, and ________.

Value-chain management forces firms to handle all value-chain activities internally.

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

The terms Competences and capabilities are interchangeable.

Brand equity can be purchased without buying an existing brand from another company.

Possessing and controlling a resource are necessary and sufficient for gaining a competitive advantage.

Discuss the entrepreneurial, capability-building, and renewal processes of senior managers.

There are certain generic resources available that any firm could acquire.

A firm's skills in using its resources to create goods and services are its ________.

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

Rarity is defined as scarcity relative to demand.

The process of resource accumulation is similar to the static possession of stocks of resources and capabilities.

Firms perform differently within similar industry environments because of the interdependent relationship among resources, capabilities, and ________.

Value-chain management forces firms to handle all value-chain activities internally.

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

The terms Competences and capabilities are interchangeable.

Brand equity can be purchased without buying an existing brand from another company.

Possessing and controlling a resource are necessary and sufficient for gaining a competitive advantage.

Discuss the entrepreneurial, capability-building, and renewal processes of senior managers.

There are certain generic resources available that any firm could acquire.

A firm's skills in using its resources to create goods and services are its ________.

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