Question 1

Exploitable resources can contribute to competitive advantage.

Accepted Answer

A) True 
 B)False

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

A resource or capability is considered ________ if it protects the firm from market uncertainties.

Accepted Answer

A)  rare 
B)  valuable 
C)  distinctive 
D)  exploitable 
A)  rare 
B)  valuable 
C)  distinctive 
D)  exploitable

Question 4

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 5

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

Accepted Answer

A) True 
 B)False

Question 6

Union Pacific Railroad has an extensive network of rail-line property. This network represents a tangible and ________ resource.

Accepted Answer

A)  copied 
B)  valuable 
C)  rare 
D)  common 
A)  copied 
B)  valuable 
C)  rare 
D)  common

Question 7

What is the competitive implication of inimitability?

Accepted Answer

Valuable and rare resources an

Question 8

Outsourcing is what a firm does when it contracts with outside suppliers to perform parts of a company's value chain of activities.

Accepted Answer

A) True 
 B)False

Question 9

The VRINE criterion of rarity requires that only one firm has the resource.

Accepted Answer

A) True 
 B)False

Question 10

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

Accepted Answer

Tradeoff protection involves organizing

Question 11

Examples of differentiated resources include managerial judgment, trade secrets, and brand equity.

Accepted Answer

A) True 
 B)False

Question 12

_____ is a condition in which a resource is considered valuable, rare, and inimitable because it is difficult to identify and understand.

Accepted Answer

A)  environmental uncertainty 
B)  distinctive competence 
C)  dynamic improbability 
D)  causal ambiguity 
A)  environmental uncertainty 
B)  distinctive competence 
C)  dynamic improbability 
D)  causal ambiguity

Question 13

Intel's advantage is due, in part, to all but which of the following?

Accepted Answer

A)  its use of engineering expertise to create valuable technologies 
B)  operational efficiencies that make its products proprietary standards 
C)  its eye-catching packaging 
D)  marketing skills that speed products to market 
A)  its use of engineering expertise to create valuable technologies 
B)  operational efficiencies that make its products proprietary standards 
C)  its eye-catching packaging 
D)  marketing skills that speed products to market

Question 14

The ability to adapt to change or to initiate it is most important in industries where ________.

Accepted Answer

A)  the industry products are standard 
B)  future competition is difficult to forecast 
C)  technological change is static 
D)  product demand is stable 
A)  the industry products are standard 
B)  future competition is difficult to forecast 
C)  technological change is static 
D)  product demand is stable

Question 15

Tradeoff protection requires firms to ________.

Accepted Answer

A)  patent their core competencies 
B)  trade some of their tangible resources for intangible resources 
C)  alternate between the stock and flow of resources 
D)  add and eliminate value-chain activities 
A)  patent their core competencies 
B)  trade some of their tangible resources for intangible resources 
C)  alternate between the stock and flow of resources 
D)  add and eliminate value-chain activities

Question 16

What causes a resource or capability to be valuable?

Accepted Answer

A resource or capability is va

Question 17

Primary and support activities are both potential sources of competitive advantage.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is not part of the VRINE model?

Accepted Answer

A)  value 
B)  resource 
C)  exploitability 
D)  inimitability 
A)  value 
B)  resource 
C)  exploitability 
D)  inimitability

Question 19

Developing value-chain activities and configuring them so they are integrally related and not easily imitated is the key to the value-chain approach to competitive advantage.

Accepted Answer

A) True 
 B)False

Question 20

In industries in which time to market is not critical, the ability to adapt to change or to initiate it is vitally important.

Accepted Answer

A) True 
 B)False

Exploitable resources can contribute to competitive advantage.

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

A resource or capability is considered ________ if it protects the firm from market uncertainties.

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

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

Union Pacific Railroad has an extensive network of rail-line property. This network represents a tangible and ________ resource.

What is the competitive implication of inimitability?

Outsourcing is what a firm does when it contracts with outside suppliers to perform parts of a company's value chain of activities.

The VRINE criterion of rarity requires that only one firm has the resource.

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

Examples of differentiated resources include managerial judgment, trade secrets, and brand equity.

_____ is a condition in which a resource is considered valuable, rare, and inimitable because it is difficult to identify and understand.

Intel's advantage is due, in part, to all but which of the following?

The ability to adapt to change or to initiate it is most important in industries where ________.

Tradeoff protection requires firms to ________.

What causes a resource or capability to be valuable?

Primary and support activities are both potential sources of competitive advantage.

Which of the following is not part of the VRINE model?

Developing value-chain activities and configuring them so they are integrally related and not easily imitated is the key to the value-chain approach to competitive advantage.

In industries in which time to market is not critical, the ability to adapt to change or to initiate it is vitally important.

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

Exploitable resources can contribute to competitive advantage.

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

A resource or capability is considered ________ if it protects the firm from market uncertainties.

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

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

Union Pacific Railroad has an extensive network of rail-line property. This network represents a tangible and ________ resource.

What is the competitive implication of inimitability?

Outsourcing is what a firm does when it contracts with outside suppliers to perform parts of a company's value chain of activities.

The VRINE criterion of rarity requires that only one firm has the resource.

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

Examples of differentiated resources include managerial judgment, trade secrets, and brand equity.

_____ is a condition in which a resource is considered valuable, rare, and inimitable because it is difficult to identify and understand.

Intel's advantage is due, in part, to all but which of the following?

The ability to adapt to change or to initiate it is most important in industries where ________.

Tradeoff protection requires firms to ________.

What causes a resource or capability to be valuable?

Primary and support activities are both potential sources of competitive advantage.

Which of the following is not part of the VRINE model?

Developing value-chain activities and configuring them so they are integrally related and not easily imitated is the key to the value-chain approach to competitive advantage.

In industries in which time to market is not critical, the ability to adapt to change or to initiate it is vitally important.

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