Question 1

Competence-destroying change in the environment can involve new competitors, regulation, or new technology.

Accepted Answer

A) True 
 B)False  True

Question 2

A typical organization has a long list of distinctive competencies.

Accepted Answer

A) True 
 B)False  False

Question 3

Which of the following is true about the 1998-2003 fall of Marks and Spencer?

Accepted Answer

A)   Continued to use suppliers in the United Kingdom rather than cheaper suppliers overseas.
B)   Did not face any local High Street competition in the apparel industry.
C)   Eliminated its U.K. catalog business.
D)   Established a wildly successful joint venture with lingerie firm Agent Provocateur. C

Question 4

At 1.6 years, _________ is one of the shortest time periods for replacing an intangible asset.

Accepted Answer

A)   Company reputation
B)   Databases
C)   Distributor know-how
D)   Supplier know-how

Question 5

Resource stocks can experience an increase in value, an instance of 'competence-destroying' change.

Accepted Answer

A) True 
 B)False

Question 6

There is a trade-off between resource deployment and resource _______.

Accepted Answer

A)   accumulation
B)   commitment
C)   expectation
D)   focus

Question 7

Competitive advantage represents the ability of an organization to consistently outperform rivals in a given market.

Accepted Answer

A) True 
 B)False

Question 8

After World War II, the two railroad firms, Rock Island and Chicago-Northwestern, differed in their explanation of their economic downturns.

Accepted Answer

A) True 
 B)False

Question 9

Research on value of brands as a resource shows the highest user loyalty for:

Accepted Answer

A)   Televisions
B)   Soft drinks
C)   Beer
D)   Cigarettes

Question 10

______ is an activity that follows patterns observed in the behaviour of others.

Accepted Answer

A)   Distinctive competencies
B)   Mimetic behaviour
C)   X

Question 11

Royal Bank of Scotland has followed a strategy of offering a variety of products under one brand name.

Accepted Answer

A) True 
 B)False

Question 12

Resource _______ accumulate from investments over time to support competitive advantage.

Accepted Answer

A)   Competencies
B)   Flows
C)   Positions
D)   Stocks

Question 13

Using colder weather from climate change in the environment, describe in detail three examples of firms that experienced competence-enhancing changes.

Accepted Answer

The answer of Using colder weather from climate change in...

Question 14

Strategic risk estimates ____ about outcomes:

Accepted Answer

A)   negativity
B)   uncertainty
C)   conviction
D)   X

Question 15

_________ is one of the hardest intangible assets to replace, taking an average of 10.8 years.

Accepted Answer

A)   Company reputation
B)   Distributor know-how
C)   Employee know-how
D)   Product reputation

Question 16

Which of the following aspects is not a key component of helping a firm create sustainable advantage?

Accepted Answer

A)   Branding
B)   Education
C)   Investment
D)   Socialization

Question 17

______ are combinations of resources that create value.

Accepted Answer

A)   Capabilities
B)   Competencies
C)   Distinct competencies
D)   Routines

Question 18

___________ refers to the lack of readily apparent connection between a firm's activities and its competitive success.

Accepted Answer

A)   Causal ambiguity
B)   External attribution
C)   Overcommitment
D)   Uncertain capacity

Question 19

What firm resources are associated with competitive advantage?

Accepted Answer

The answer of What firm resources are associated with competitive...

Question 20

Describe some of the strategic changes made by Disney in the last decade.

Accepted Answer

The answer of Describe some of the strategic changes made...

Exam 2: Developing Resources

Competence-destroying change in the environment can involve new competitors, regulation, or new technology.

A typical organization has a long list of distinctive competencies.

Which of the following is true about the 1998-2003 fall of Marks and Spencer?

At 1.6 years, _________ is one of the shortest time periods for replacing an intangible asset.

Resource stocks can experience an increase in value, an instance of 'competence-destroying' change.

There is a trade-off between resource deployment and resource _______.

Competitive advantage represents the ability of an organization to consistently outperform rivals in a given market.

After World War II, the two railroad firms, Rock Island and Chicago-Northwestern, differed in their explanation of their economic downturns.

Research on value of brands as a resource shows the highest user loyalty for:

______ is an activity that follows patterns observed in the behaviour of others.

Royal Bank of Scotland has followed a strategy of offering a variety of products under one brand name.

Resource _______ accumulate from investments over time to support competitive advantage.

Using colder weather from climate change in the environment, describe in detail three examples of firms that experienced competence-enhancing changes.

Strategic risk estimates ____ about outcomes:

_________ is one of the hardest intangible assets to replace, taking an average of 10.8 years.

Which of the following aspects is not a key component of helping a firm create sustainable advantage?

______ are combinations of resources that create value.

___________ refers to the lack of readily apparent connection between a firm's activities and its competitive success.

What firm resources are associated with competitive advantage?

Describe some of the strategic changes made by Disney in the last decade.