Question 1

The external market opportunities that are most relevant to a company are the ones that

Accepted Answer

A) increase its market share. 
B) reinforce its overall business strategy. 
C) match up well with the firm's financial resources and competitive capabilities,offer the best growth and profitability,and present the most potential for competitive advantage. 
D) correct its internal weaknesses and resource deficiencies. 
E) help defend it against the external threats to its well-being. 
A) increase its market share. 
B) reinforce its overall business strategy. 
C) match up well with the firm's financial resources and competitive capabilities,offer the best growth and profitability,and present the most potential for competitive advantage. 
D) correct its internal weaknesses and resource deficiencies. 
E) help defend it against the external threats to its well-being. C

Question 2

What is benchmarking and why is it a strategically important analytical tool?

Accepted Answer

Benchmarking is a potent tool for learning which companies are best at performing particular activities and then using their techniques (or "best practices")to improve the cost and effectiveness of a company's own internal activities.

Question 3

A distinctive competence represents competitively superior resource strength.True or false? Explain your answer.

Accepted Answer

A) True 
 B)False  True

Question 4

A company lacking stand-alone resource strength should focus on bundling several resource strengths into a core competence.True or false? Explain and support your answer.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is not an example of a company's dynamic capability?

Accepted Answer

A) Petsmart's ability to remain a big-box,bricks and mortar retailer 
B) Facebook's ability to upgrade its messaging services to feature real-time video chat 
C) Tesla's ability to introduce less costly and yet more technologically advanced automobiles 
D) Amazon's ability to expedite its delivery services using drone aircraft 
E) ESPN's ability to deliver live games via video streaming services 
A) Petsmart's ability to remain a big-box,bricks and mortar retailer 
B) Facebook's ability to upgrade its messaging services to feature real-time video chat 
C) Tesla's ability to introduce less costly and yet more technologically advanced automobiles 
D) Amazon's ability to expedite its delivery services using drone aircraft 
E) ESPN's ability to deliver live games via video streaming services

Question 6

In conducting a SWOT analysis,is it enough to simply compile lists of the company's strengths,weaknesses,opportunities,and threats? Why or why not?

Accepted Answer

A first-rate SWOT analysis sizes up a co

Question 7

The most difficult part of benchmarking is

Accepted Answer

A) whether to do it at all. 
B) figuring out how to gain access to information regarding rivals' practices and costs. 
C) when to initiate the process. 
D) what information to utilize in the analysis process. 
E) when to stop the process and move forward with strategy. 
A) whether to do it at all. 
B) figuring out how to gain access to information regarding rivals' practices and costs. 
C) when to initiate the process. 
D) what information to utilize in the analysis process. 
E) when to stop the process and move forward with strategy.

Question 8

Which of the following is not a good example of a company's resources?

Accepted Answer

A) Having a lower-cost value chain than key rivals 
B) Having a well-known brand name and enjoying the confidence of customers 
C) Having more intellectual capital and better e-commerce capabilities than key rivals 
D) Having higher earnings per share and a higher stock price than key rivals 
E) Having fruitful partnerships or alliances with suppliers that reduce costs and/or enhance product quality and performance 
A) Having a lower-cost value chain than key rivals 
B) Having a well-known brand name and enjoying the confidence of customers 
C) Having more intellectual capital and better e-commerce capabilities than key rivals 
D) Having higher earnings per share and a higher stock price than key rivals 
E) Having fruitful partnerships or alliances with suppliers that reduce costs and/or enhance product quality and performance

Question 9

Which one of the following is a tangible resource?

Accepted Answer

A) Know-how and experience-based learning 
B) Brand,image,and reputation 
C) Relationships 
D) Company culture 
E) Financial capital 
A) Know-how and experience-based learning 
B) Brand,image,and reputation 
C) Relationships 
D) Company culture 
E) Financial capital

Question 10

Which one of the following is not part of conducting a SWOT analysis?

Accepted Answer

A) Identifying a company's resource strengths and competitive capabilities 
B) Benchmarking the company's resource strengths and competitive capabilities against industry key success factors 
C) Identifying a company's market opportunities 
D) Drawing conclusions about the company's overall business situation 
E) Matching the company's strategy to its resource strengths and market opportunities,correcting problematic weaknesses,and defending against worrisome threats 
A) Identifying a company's resource strengths and competitive capabilities 
B) Benchmarking the company's resource strengths and competitive capabilities against industry key success factors 
C) Identifying a company's market opportunities 
D) Drawing conclusions about the company's overall business situation 
E) Matching the company's strategy to its resource strengths and market opportunities,correcting problematic weaknesses,and defending against worrisome threats

Question 11

When a company has become proficient in modifying,upgrading,or deepening the company's resources and capabilities in response to its changing environment and market opportunities,it is called a

Accepted Answer

A) dynamic capability. 
B) core competence. 
C) distinct competence. 
D) strategic assessment. 
E) competitive strength matrix. 
A) dynamic capability. 
B) core competence. 
C) distinct competence. 
D) strategic assessment. 
E) competitive strength matrix.

Question 12

The four tests of a resource's competitive power are often referred to as the

Accepted Answer

A) organizational capability metric analysis. 
B) SWOT analysis. 
C) competitive advantage sustainability test. 
D) SCIR test,which asks if a resource is sustainable,competitive,internalized,and reproducible. 
E) VRIN test,which asks if a resource is valuable,rare,inimitable,and nonsubstitutable. 
A) organizational capability metric analysis. 
B) SWOT analysis. 
C) competitive advantage sustainability test. 
D) SCIR test,which asks if a resource is sustainable,competitive,internalized,and reproducible. 
E) VRIN test,which asks if a resource is valuable,rare,inimitable,and nonsubstitutable.

Question 13

Sizing up a company's overall resource strengths and weaknesses

Accepted Answer

A) essentially involves constructing a strategic balance sheet on which the company's resource strengths represent competitive assets and its resource weaknesses represent competitive liabilities. 
B) is the same process as benchmarking. 
C) is called competitive strength assessment. 
D) is focused on making lists of a company's resource strengths and weaknesses. 
E) is called company resource mapping. 
A) essentially involves constructing a strategic balance sheet on which the company's resource strengths represent competitive assets and its resource weaknesses represent competitive liabilities. 
B) is the same process as benchmarking. 
C) is called competitive strength assessment. 
D) is focused on making lists of a company's resource strengths and weaknesses. 
E) is called company resource mapping.

Question 14

A company's value chain identifies

Accepted Answer

A) the steps it goes through to convert its net income into value for shareholders. 
B) the primary activities that create value for customers and related support activities. 
C) the series of steps it takes to get a product from a raw materials stage to a finished product. 
D) the activities it performs in transforming its competencies into distinctive competencies. 
E) the competencies and competitive capabilities that underpin its efforts to create value for customers and shareholders. 
A) the steps it goes through to convert its net income into value for shareholders. 
B) the primary activities that create value for customers and related support activities. 
C) the series of steps it takes to get a product from a raw materials stage to a finished product. 
D) the activities it performs in transforming its competencies into distinctive competencies. 
E) the competencies and competitive capabilities that underpin its efforts to create value for customers and shareholders.

Question 15

Imitation by rivals is most challenging when

Accepted Answer

A) resources are unique. 
B) resources must be built over time. 
C) capabilities reflect a high level of social complexity and causal ambiguity. 
D) resources and capabilities require a high level of capital investment. 
E) resources and capabilities are accessible and require low levels of investment. 
A) resources are unique. 
B) resources must be built over time. 
C) capabilities reflect a high level of social complexity and causal ambiguity. 
D) resources and capabilities require a high level of capital investment. 
E) resources and capabilities are accessible and require low levels of investment.

Question 16

The most important payoff of doing a thorough SWOT analysis is

Accepted Answer

A) identifying whether the company's value chain is cost effective vis-à-vis the value chains of rivals. 
B) helping strategy makers benchmark the company's resource strengths against industry key success factors. 
C) enabling a company to assess its leverage in negotiations with buyers. 
D) revealing whether a company's market share,measures of profitability,and sales compare favorably or unfavorably vis-à-vis key competitors. 
E) assisting strategy makers in drawing conclusions about the company's overall situation and crafting a strategy that is well-matched to the company's resources and capabilities,its market opportunities,and the external threats to its future well-being. 
A) identifying whether the company's value chain is cost effective vis-à-vis the value chains of rivals. 
B) helping strategy makers benchmark the company's resource strengths against industry key success factors. 
C) enabling a company to assess its leverage in negotiations with buyers. 
D) revealing whether a company's market share,measures of profitability,and sales compare favorably or unfavorably vis-à-vis key competitors. 
E) assisting strategy makers in drawing conclusions about the company's overall situation and crafting a strategy that is well-matched to the company's resources and capabilities,its market opportunities,and the external threats to its future well-being.

Question 17

Benchmarking involves

Accepted Answer

A) comparing how different companies perform various value chain activities and then making cross-company comparisons of the costs of these activities. 
B) checking whether a company has achieved more of its financial and strategic objectives over the past five years relative to the other firms it is in direct competition with. 
C) studying whether a company's resource strengths are more or less powerful than the resource strengths of rival companies. 
D) tracking the profit margin along with the value-creating activities. 
E) comparing the best practices in one industry against the best practices in another industry. 
A) comparing how different companies perform various value chain activities and then making cross-company comparisons of the costs of these activities. 
B) checking whether a company has achieved more of its financial and strategic objectives over the past five years relative to the other firms it is in direct competition with. 
C) studying whether a company's resource strengths are more or less powerful than the resource strengths of rival companies. 
D) tracking the profit margin along with the value-creating activities. 
E) comparing the best practices in one industry against the best practices in another industry.

Question 18

Explain why a weighted competitive strength assessment is important.

Accepted Answer

Industry and competitive analyses reveal

Question 19

Managers can pursue any of several strategic approaches to reduce the costs of internally performed value chain activities and improve a company's cost competitiveness by

Accepted Answer

A) investing in productivity-enhancing,cost-saving technological improvements. 
B) outsourcing internally performed activities to those able to perform the activities at a lower cost. 
C) implementing the use of best practices,particularly for high-cost activities. 
D) eliminating some cost-producing activities from the value chain,especially low value-added activities. 
E) acquiring suppliers,rivals,or forward channel distributors. 
A) investing in productivity-enhancing,cost-saving technological improvements. 
B) outsourcing internally performed activities to those able to perform the activities at a lower cost. 
C) implementing the use of best practices,particularly for high-cost activities. 
D) eliminating some cost-producing activities from the value chain,especially low value-added activities. 
E) acquiring suppliers,rivals,or forward channel distributors.

Question 20

One important indicator of how well a company's present strategy is working is whether

Accepted Answer

A) it is customarily a first-mover in introducing new or improved products (a good sign)or a late-mover (a bad sign). 
B) its strategy is built around at least two of the industry's key success factors. 
C) the company is achieving its financial and strategic objectives and whether it is an above-average industry performer. 
D) it has been able to create new industry demand through the use of a blue ocean strategy. 
E) it is subject to weaker competitive forces and pressures than close rivals (a good sign)or stronger competitive forces and pressures (a bad sign). 
A) it is customarily a first-mover in introducing new or improved products (a good sign)or a late-mover (a bad sign). 
B) its strategy is built around at least two of the industry's key success factors. 
C) the company is achieving its financial and strategic objectives and whether it is an above-average industry performer. 
D) it has been able to create new industry demand through the use of a blue ocean strategy. 
E) it is subject to weaker competitive forces and pressures than close rivals (a good sign)or stronger competitive forces and pressures (a bad sign).

The external market opportunities that are most relevant to a company are the ones that

What is benchmarking and why is it a strategically important analytical tool?

A distinctive competence represents competitively superior resource strength.True or false? Explain your answer.

A company lacking stand-alone resource strength should focus on bundling several resource strengths into a core competence.True or false? Explain and support your answer.

Which of the following is not an example of a company's dynamic capability?

In conducting a SWOT analysis,is it enough to simply compile lists of the company's strengths,weaknesses,opportunities,and threats? Why or why not?

The most difficult part of benchmarking is

Which of the following is not a good example of a company's resources?

Which one of the following is a tangible resource?

Which one of the following is not part of conducting a SWOT analysis?

When a company has become proficient in modifying,upgrading,or deepening the company's resources and capabilities in response to its changing environment and market opportunities,it is called a

The four tests of a resource's competitive power are often referred to as the

Sizing up a company's overall resource strengths and weaknesses

A company's value chain identifies

Imitation by rivals is most challenging when

The most important payoff of doing a thorough SWOT analysis is

Benchmarking involves

Explain why a weighted competitive strength assessment is important.

Managers can pursue any of several strategic approaches to reduce the costs of internally performed value chain activities and improve a company's cost competitiveness by

One important indicator of how well a company's present strategy is working is whether

Strategy,business Models,and Competitive Advantage

Strategy Formulation,execution,and Governance

Evaluating a Companys External Environment

The Five Generic Competitive Strategies

Strengthening a Companys Competitive Position: Strategic Moves, timing, and Scope of Operations

Strategies for Competing in International Markets

Corporate Strategy: Diversification and the Multibusiness Company

Ethics, corporate Social Responsibility, environmental Sustainability, and Strategy

Superior Strategy Executionanother Path to Competitive Advantage

Filters

Exam 4: Evaluating a Companys Resources, capabilities, and Competitiveness

The external market opportunities that are most relevant to a company are the ones that

What is benchmarking and why is it a strategically important analytical tool?

A distinctive competence represents competitively superior resource strength.True or false? Explain your answer.

A company lacking stand-alone resource strength should focus on bundling several resource strengths into a core competence.True or false? Explain and support your answer.

Which of the following is not an example of a company's dynamic capability?

In conducting a SWOT analysis,is it enough to simply compile lists of the company's strengths,weaknesses,opportunities,and threats? Why or why not?

The most difficult part of benchmarking is

Which of the following is not a good example of a company's resources?

Which one of the following is a tangible resource?

Which one of the following is not part of conducting a SWOT analysis?

When a company has become proficient in modifying,upgrading,or deepening the company's resources and capabilities in response to its changing environment and market opportunities,it is called a

The four tests of a resource's competitive power are often referred to as the

Sizing up a company's overall resource strengths and weaknesses

A company's value chain identifies

Imitation by rivals is most challenging when

The most important payoff of doing a thorough SWOT analysis is

Benchmarking involves

Explain why a weighted competitive strength assessment is important.

Managers can pursue any of several strategic approaches to reduce the costs of internally performed value chain activities and improve a company's cost competitiveness by

One important indicator of how well a company's present strategy is working is whether

Strategy,business Models,and Competitive Advantage

Strategy Formulation,execution,and Governance

Evaluating a Companys External Environment

The Five Generic Competitive Strategies

Strengthening a Companys Competitive Position: Strategic Moves, timing, and Scope of Operations

Strategies for Competing in International Markets

Corporate Strategy: Diversification and the Multibusiness Company

Ethics, corporate Social Responsibility, environmental Sustainability, and Strategy

Superior Strategy Executionanother Path to Competitive Advantage

Filters