Exam 3: Examining the Internal Environment: Resources

Reconfiguring resources and capabilities is a static process.

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

The entrepreneurial process encourages middle managers to be externally oriented.

The key role managers play in creating competitive advantage is ________.

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

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

According to the VRINE model, a firm with generic and imitable resources and capabilities will gain a competitive advantage.

The resource-based inputs into the strategy process are opportunities and threats.

The value of a firm's portfolio of resources and capabilities is directly affected by ________.

A firm's resources and capabilities become less significant when a firm chooses to enter into a strategic alliance.

The criterion of inimitability is satisfied if competitors cannot readily acquire the valuable and rare resource.

All of a firm's capabilities contribute equally to its competitive advantage.

What are some of the differences between tangible and intangible resources?

How can owning resources that don't meet VRINE criteria actually put a firm at a competitive disadvantage?

Because middle management ranks are typically more diverse in terms of ethnicity, gender, experience, and geography, this group has the potential to be more ________ than senior management.

Resources are the inputs that firms use to create goods or services.

Discuss the risks of outsourcing.

To gain a competitive advantage, a firm must have the organizational ability to exploit their resources.

If a firm outsources its marketing or distribution function, it may lose access to the knowledge of customer ________ that inspired its early product breakthroughs.

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