Question 1

Which of the following is true about enactment with regard to a firm's competitiveness?

Accepted Answer

A) It is a theoretical perspective 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 theoretical perspective 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 theoretical perspective 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 theoretical perspective 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 2

Opportunities and threats, as a part of the SWOT analysis, are assessed by examining the firm's resources.

Accepted Answer

A) True 
 B)False

Question 3

Differentiate between capabilities and a dynamic capability.

Accepted Answer

Capabilities refer to what the organizat

Question 4

According to the resource-based theory, _____ of an asset is one of the four qualities that makes it a strategic resource for a business.

Accepted Answer

A) availability 
B) dynamism 
C) rarity 
D) tangibility 
E) competitiveness 
A) availability 
B) dynamism 
C) rarity 
D) tangibility 
E) competitiveness

Question 5

Patents are phrases, pictures, names, or symbols used to identify a particular organization.

Accepted Answer

A) True 
 B)False

Question 6

A company manufacturing hockey sticks makes an annual assessment of its resources in terms of raw materials, technical expertise, and technological knowhow.It assesses the type of competition that it faces in the sports goods market and also looks out for opportunities that would allow it to expand its business.This is an example of a(n):

Accepted Answer

A) SWOT analysis. 
B) enterprise resource planning. 
C) process mining. 
D) PESTLE analysis. 
E) business intelligence. 
A) SWOT analysis. 
B) enterprise resource planning. 
C) process mining. 
D) PESTLE analysis. 
E) business intelligence.

Question 7

A strategic resource is valuable to the extent that it is difficult to imitate.

Accepted Answer

A) True 
 B)False

Question 8

Describe the theory of transactional cost economics.

Accepted Answer

Transaction cost economics is a theory t

Question 9

The legal system is the least favored choice of firms for protecting their _____.

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 10

Enactment contends that an organization can, at least in part, create an environment for itself that is beneficial to the organization.

Accepted Answer

A) True 
 B)False

Question 11

A firm that enjoys a dynamic capability is one that is skilled at continually updating its strategic resources.

Accepted Answer

A) True 
 B)False

Question 12

Best value supply chains strive to excel along four measures: speed, quality, cost, and flexibility.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following components required for creating best value supply chains can be achieved through the use of buffers?

Accepted Answer

A) Agility 
B) Strategic supply chain management 
C) Alignment 
D) Adaptability 
E) Operations 
A) Agility 
B) Strategic supply chain management 
C) Alignment 
D) Adaptability 
E) Operations

Question 14

Apple has been able to reshape its environment by introducing products such as the iPhone and the iPad that transcend the traditional boundaries between the cell phone, digital camera, music player, and computer businesses.This is an example of _____ for explaining a firm's competitiveness.

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 15

The marketing mix concept was proposed by circus impresario P.T.Barnum.

Accepted Answer

A) True 
 B)False

Question 16

What qualities should an asset have in order to be classified as a strategic resource according to the resource-based theory? What kind of competitive advantage does a resource provide if it has all these qualities?

Accepted Answer

According to the resource-based theory,

Question 17

How is Porter's five forces analysis different from a SWOT analysis?

Accepted Answer

Strategic groups analysis examines the s

Question 18

An organization cannot hope to create an enduring competitive advantage around common resources.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is true about transaction cost economics?

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 20

A strategic resource is an asset that is valuable, rare, difficult to imitate, and nonsubstitutable.

Accepted Answer

A) True 
 B)False

Which of the following is true about enactment with regard to a firm's competitiveness?

Opportunities and threats, as a part of the SWOT analysis, are assessed by examining the firm's resources.

Differentiate between capabilities and a dynamic capability.

According to the resource-based theory, _____ of an asset is one of the four qualities that makes it a strategic resource for a business.

Patents are phrases, pictures, names, or symbols used to identify a particular organization.

A strategic resource is valuable to the extent that it is difficult to imitate.

Describe the theory of transactional cost economics.

The legal system is the least favored choice of firms for protecting their _____.

Enactment contends that an organization can, at least in part, create an environment for itself that is beneficial to the organization.

A firm that enjoys a dynamic capability is one that is skilled at continually updating its strategic resources.

Best value supply chains strive to excel along four measures: speed, quality, cost, and flexibility.

Which of the following components required for creating best value supply chains can be achieved through the use of buffers?

Apple has been able to reshape its environment by introducing products such as the iPhone and the iPad that transcend the traditional boundaries between the cell phone, digital camera, music player, and computer businesses.This is an example of _____ for explaining a firm's competitiveness.

The marketing mix concept was proposed by circus impresario P.T.Barnum.

What qualities should an asset have in order to be classified as a strategic resource according to the resource-based theory? What kind of competitive advantage does a resource provide if it has all these qualities?

How is Porter's five forces analysis different from a SWOT analysis?

An organization cannot hope to create an enduring competitive advantage around common resources.

Which of the following is true about transaction cost economics?

A strategic resource is an asset that is valuable, rare, difficult to imitate, and nonsubstitutable.

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

Which of the following is true about enactment with regard to a firm's competitiveness?

Opportunities and threats, as a part of the SWOT analysis, are assessed by examining the firm's resources.

Differentiate between capabilities and a dynamic capability.

According to the resource-based theory, _____ of an asset is one of the four qualities that makes it a strategic resource for a business.

Patents are phrases, pictures, names, or symbols used to identify a particular organization.

A strategic resource is valuable to the extent that it is difficult to imitate.

Describe the theory of transactional cost economics.

The legal system is the least favored choice of firms for protecting their _____.

Enactment contends that an organization can, at least in part, create an environment for itself that is beneficial to the organization.

A firm that enjoys a dynamic capability is one that is skilled at continually updating its strategic resources.

Best value supply chains strive to excel along four measures: speed, quality, cost, and flexibility.

Which of the following components required for creating best value supply chains can be achieved through the use of buffers?

Apple has been able to reshape its environment by introducing products such as the iPhone and the iPad that transcend the traditional boundaries between the cell phone, digital camera, music player, and computer businesses.This is an example of _____ for explaining a firm's competitiveness.

The marketing mix concept was proposed by circus impresario P.T.Barnum.

What qualities should an asset have in order to be classified as a strategic resource according to the resource-based theory? What kind of competitive advantage does a resource provide if it has all these qualities?

How is Porter's five forces analysis different from a SWOT analysis?

An organization cannot hope to create an enduring competitive advantage around common resources.

Which of the following is true about transaction cost economics?

A strategic resource is an asset that is valuable, rare, difficult to imitate, and nonsubstitutable.

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