Exam 3: Internal Analysis: Strengths, Weaknesses, and Competitive Advantage

A visual description of the steps required to turn raw materials into finished products and/or services most accurately defines the term _____.

LuxeDrive Inc.is an automobile company with unmatched competition because it has certain qualifications and assets that set it apart from the rest of the companies selling similar products.These act as qualifications that rival companies find hard to configure and replicate.This scenario regarding LuxeDrive Inc.can be best categorized as an example of _____.

Which of the following is true of a tangible resource?

Speed Express, a courier company, proves to be a definite challenge to its competitors.The technology, personnel, services, and organizational structure of the company are intricately bound together to create a system that is widely appreciated by its customers.Speed Express has state-of-the-art facilities for its transportation, delivery, or packaging operations.Speed Express also has a range of travelling bags and brand of wrist watches.The company's success rests on the complex interplay between all of its functions, products, and operations.Customers remain loyal to the company and prefer it over other brands and services.Which of the following factors of inimitability does Speed Express have?

Leon Royal Hotel was the first inn in the county of Belvore.It had started out as a small investment with seven rooms, providing bed and breakfast in 1949 to many travelers who came to Belvore.Another inn called Meltown Inn started out a decade after Leon Royal Hotel.After 20 years of giving unique and satisfying service to its customers, Leon Royal Hotels was well established as a large hotel with more than 1,500 rooms.The facilities and services provided by the hotel made it one of the best hotels in the Belvore, while Meltown Inn started losing profits and eventually shut down in 1968 because of providing bad service.Which of the following factors of inimitability is explained in this scenario?

The customers, investors, and employees of Pisces Inc.are invariably satisfied with the services and culture of the company.Pisces Inc.has delivered on all its promises and has continued to create a sense of worth among its varied audiences.Which of the following terms best categorizes the elements of Pisces Inc.described in this scenario explaining?

The characteristics that make a resource or capability difficult to imitate is known as _____.

Annabey Inc., a small candy manufacturing company established in 1937, now has several large units that sell unique flavors of candies and assorted chocolates.When the company started out in 1937, it initially experienced slow growth as it was selling brand new products in the market, but later on, their sales picked up at a drastic speed when customers decided to try their products.The CEO of Annabey credits its growth to all the customers who love their candies and chocolates.Which of the following factors of inimitability is best reflected in this scenario?

A survey is conducted among the customers of a supermarket chain.This survey reveals that the majority of these customers prefer to buy Lia, a brand of soap, because they feel that the company Lia Products Inc.has created a product that is of worth to the customers.The reason for the customers' preference is because the company constantly delivers what it promises.In this scenario, the factor that has made the brand of soap named Lia popular among these customers can be best categorized as _____.

The employees at Voyage Ink Corp.were asked to draw a chart that explains the elements which go into making one of their products.They were asked to create a diagram showing the different types of materials that help create the whole product.Which of the following are the employees at Voyage Ink Corp.creating in this scenario?