Question 1

Tangible resources are more likely to meet the criteria for strategic resources than are intangible resources.

Accepted Answer

A) True 
 B)False

Question 2

A resource that is valuable and rare but that can be imitated might provide an edge in the short-term, but competitors can overcome such an advantage eventually.

Accepted Answer

A) True 
 B)False

Question 3

A value chain charts the path by which products and services are created and eventually sold to customers.

Accepted Answer

A) True 
 B)False

Question 4

The distinctive competency theory offers a complete framework for analyzing organizations.

Accepted Answer

A) True 
 B)False

Question 5

_____ are legal decrees that protect inventions from direct imitation for a limited period of time.

Accepted Answer

A) Patents 
B) Copyrights 
C) Trademarks 
D) Trade secrets 
E) Inventor rights 
A) Patents 
B) Copyrights 
C) Trademarks 
D) Trade secrets 
E) Inventor rights

Question 6

All difficult to imitate strategic resources are protected by various legal means including trademarks, patents, and copyrights.

Accepted Answer

A) True 
 B)False

Question 7

_____ is a classic management tool that incorporates the idea of scanning elements such as strengths, weaknesses, opportunities, and threats which are both external and internal to the firm.

Accepted Answer

A) PESTLE analysis 
B) Business intelligence 
C) Enterprise resource planning 
D) Process mining 
E) SWOT analysis 
A) PESTLE analysis 
B) Business intelligence 
C) Enterprise resource planning 
D) Process mining 
E) SWOT analysis

Question 8

What are trade secrets? How are they protected? Give two examples of trade secrets.

Accepted Answer

Students' examples may vary.
Trade secre

Question 9

Which of the following theories for explaining a firm's competitiveness centers on the extent to which firms copy each other's strategies?

Accepted Answer

A) Resource-based theory 
B) Enactment 
C) Transaction cost economics 
D) Environmental determinism 
E) Institutional theory 
A) Resource-based theory 
B) Enactment 
C) Transaction cost economics 
D) Environmental determinism 
E) Institutional theory

Question 10

Which of the following is a primary activity that value chains include?

Accepted Answer

A) Procurement 
B) Firm infrastructure 
C) Service 
D) Technology 
E) Human resource management 
A) Procurement 
B) Firm infrastructure 
C) Service 
D) Technology 
E) Human resource management

Question 11

A firm's property, reputation, and culture are considered to be its tangible resources.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following is an example of a trade secret?

Accepted Answer

A) Ric 
B) McDonald's golden arches 
C) The Nike swoosh 
D) The formulation of Coca-Cola 
E) Original artistic creations, like books 
A) Ric 
B) McDonald's golden arches 
C) The Nike swoosh 
D) The formulation of Coca-Cola 
E) Original artistic creations, like books

Question 13

Resources refer to what an organization owns, capabilities refer to what the organization can do.

Accepted Answer

A) True 
 B)False

Question 14

Transaction cost theory helps executives decide whether to pursue a _____ integration strategy or not.

Accepted Answer

A) forward 
B) forward vertical 
C) forward horizontal 
D) backward 
E) backward horizontal 
A) forward 
B) forward vertical 
C) forward horizontal 
D) backward 
E) backward horizontal

Question 15

Strengths and weaknesses, as a part of the SWOT analysis, refer to external events and trends.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following statements about the SWOT analysis is accurate?

Accepted Answer

A) SWOT analysis is a rigorous method for selecting strategies. 
B) SWOT analysis is a brainstorming technique for generating creative ideas. 
C) SWOT analysis is useful for identifying a business's closest competitors. 
D) SWOT analysis examines the situations faced by the competitors in an industry. 
E) SWOT analysis is routinely used for identifying strategic groups within an industry. 
A) SWOT analysis is a rigorous method for selecting strategies. 
B) SWOT analysis is a brainstorming technique for generating creative ideas. 
C) SWOT analysis is useful for identifying a business's closest competitors. 
D) SWOT analysis examines the situations faced by the competitors in an industry. 
E) SWOT analysis is routinely used for identifying strategic groups within an industry.

Question 17

A firm that enjoys a(n) _____ capability is one that is skilled at continually updating its array of capabilities in order to keep pace with changes in its environment.

Accepted Answer

A) competitive 
B) distinctive 
C) strategic 
D) dynamic 
E) evolving 
A) competitive 
B) distinctive 
C) strategic 
D) dynamic 
E) evolving

Question 18

Which of the following is true about institutional theory?

Accepted Answer

A) It is a theory that contends that an organization can, at least in part, create an environment for itself that is beneficial to the organization. 
B) It is a theory that contends that organizations are very limited in their ability to adapt to the conditions around them. 
C) It is a theory that examines the extent to which firms copy each other's strategies. 
D) It is a theory that centers on whether it is cheaper for a firm to make or to buy the products that it needs. 
E) It is a theory that contends that the possession of strategic resources can provide an organization with competitive advantages over its rivals. 
A) It is a theory that contends that an organization can, at least in part, create an environment for itself that is beneficial to the organization. 
B) It is a theory that contends that organizations are very limited in their ability to adapt to the conditions around them. 
C) It is a theory that examines the extent to which firms copy each other's strategies. 
D) It is a theory that centers on whether it is cheaper for a firm to make or to buy the products that it needs. 
E) It is a theory that contends that the possession of strategic resources can provide an organization with competitive advantages over its rivals.

Question 19

What are trademarks? Why are trademarks important for organizations? Give two examples of trademarks.

Accepted Answer

Students' examples may vary.
Trademarks

Question 20

_____ is one of the five primary activities that value chains include.

Accepted Answer

A) Procurement 
B) Firm infrastructure 
C) Technology 
D) Human resource management 
E) Inbound logistics 
A) Procurement 
B) Firm infrastructure 
C) Technology 
D) Human resource management 
E) Inbound logistics

Tangible resources are more likely to meet the criteria for strategic resources than are intangible resources.

A resource that is valuable and rare but that can be imitated might provide an edge in the short-term, but competitors can overcome such an advantage eventually.

A value chain charts the path by which products and services are created and eventually sold to customers.

The distinctive competency theory offers a complete framework for analyzing organizations.

_____ are legal decrees that protect inventions from direct imitation for a limited period of time.

All difficult to imitate strategic resources are protected by various legal means including trademarks, patents, and copyrights.

_____ is a classic management tool that incorporates the idea of scanning elements such as strengths, weaknesses, opportunities, and threats which are both external and internal to the firm.

What are trade secrets? How are they protected? Give two examples of trade secrets.

Which of the following theories for explaining a firm's competitiveness centers on the extent to which firms copy each other's strategies?

Which of the following is a primary activity that value chains include?

A firm's property, reputation, and culture are considered to be its tangible resources.

Which of the following is an example of a trade secret?

Resources refer to what an organization owns, capabilities refer to what the organization can do.

Transaction cost theory helps executives decide whether to pursue a _____ integration strategy or not.

Strengths and weaknesses, as a part of the SWOT analysis, refer to external events and trends.

Which of the following statements about the SWOT analysis is accurate?

A firm that enjoys a(n) _____ capability is one that is skilled at continually updating its array of capabilities in order to keep pace with changes in its environment.

Which of the following is true about institutional theory?

What are trademarks? Why are trademarks important for organizations? Give two examples of trademarks.

_____ is one of the five primary activities that value chains include.

Mastering Strategy: Art and Science

Leading Strategically

Evaluating the External Environment

Selecting Business-Level Strategies

Supporting the Business-Level Strategy: Competitive and Cooperative Moves

Competing in International Markets

Selecting Corporate-Level Strategies

Executing Strategy Through Organizational Design

Leading an Ethical Organization: Corporate Governance, Corporate Ethics, and Social Responsibility

Filters

Exam 4: Managing Company Resources

Tangible resources are more likely to meet the criteria for strategic resources than are intangible resources.

A resource that is valuable and rare but that can be imitated might provide an edge in the short-term, but competitors can overcome such an advantage eventually.

A value chain charts the path by which products and services are created and eventually sold to customers.

The distinctive competency theory offers a complete framework for analyzing organizations.

_____ are legal decrees that protect inventions from direct imitation for a limited period of time.

All difficult to imitate strategic resources are protected by various legal means including trademarks, patents, and copyrights.

_____ is a classic management tool that incorporates the idea of scanning elements such as strengths, weaknesses, opportunities, and threats which are both external and internal to the firm.

What are trade secrets? How are they protected? Give two examples of trade secrets.

Which of the following theories for explaining a firm's competitiveness centers on the extent to which firms copy each other's strategies?

Which of the following is a primary activity that value chains include?

A firm's property, reputation, and culture are considered to be its tangible resources.

Which of the following is an example of a trade secret?

Resources refer to what an organization owns, capabilities refer to what the organization can do.

Transaction cost theory helps executives decide whether to pursue a _____ integration strategy or not.

Strengths and weaknesses, as a part of the SWOT analysis, refer to external events and trends.

Which of the following statements about the SWOT analysis is accurate?

A firm that enjoys a(n) _____ capability is one that is skilled at continually updating its array of capabilities in order to keep pace with changes in its environment.

Which of the following is true about institutional theory?

What are trademarks? Why are trademarks important for organizations? Give two examples of trademarks.

_____ is one of the five primary activities that value chains include.

Mastering Strategy: Art and Science

Leading Strategically

Evaluating the External Environment

Selecting Business-Level Strategies

Supporting the Business-Level Strategy: Competitive and Cooperative Moves

Competing in International Markets

Selecting Corporate-Level Strategies

Executing Strategy Through Organizational Design

Leading an Ethical Organization: Corporate Governance, Corporate Ethics, and Social Responsibility

Filters