Question 1

Developing collaborative "win-win" relationships with suppliers is an important consideration in which supporting activity?

Accepted Answer

A)   General administration
B)   Human resource management
C)   Technology management
D)   Procurement

Question 2

The "balanced scorecard" developed by Kaplan and Norton helps to integrate

Accepted Answer

A)   financial analysis and a firm's reputation.
B)   intangible resources and operational measures.
C)   financial analysis and stakeholder perspectives.
D)   short-term perspectives and strategic positioning.

Question 3

Assessment of a firm's primary activities should include analysis of each of the following, except

Accepted Answer

A)   inbound logistics.
B)   operations.
C)   human resources
D)   marketing and sales.

Question 4

What are some ways in which a firm's general administration can help create (or enhance) competitive advantages?

Accepted Answer

General administration includes activities such as general management, planning, finance, accounting, legal and government affairs, and quality management and information systems. General administration typically supports the entire value chain and not individual activities.

Question 5

Historical comparisons are most appropriate during periods of recession or economic boom.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following lists consists of support activities?

Accepted Answer

A)   Human resource management, technology development, customer service, and procurement
B)   Human resource management, customer service, marketing and sales, and operations
C)   Human resource management, information systems, procurement, and firm infrastructure
D)   Customer service, information systems, technology development, and procurement

Question 7

For a resource to provide a firm with the potential for a sustainable competitive advantage, it must have the following four attributes

Accepted Answer

A)   Rare, valuable, mobile, and nonsubstitutable.
B)   Rare, inimitable, physically unique, and nonsubstitutable.
C)   Rare, valuable, inimitable, and nonsubstitutable.
D)   Rare, valuable, physically unique, and causally ambiguous.

Question 8

What are the four perspectives that the "balanced scorecard" enables managers to evaluate their business?

Accepted Answer

The four perspectives are the customer perspective, the internal business perspective, the innovation and learning perspective and the financial perspective.

Question 9

All of the following have been identified as concerns in crowdsourcing, except?

Accepted Answer

A)   Strong brand reputation
B)   High demand uncertainty
C)   Too many initiatives
D)   Excess contributors

Question 10

The following are examples of socially complex organizational phenomena, except

Accepted Answer

A)   a firm's culture
B)   interpersonal relations among a firm's managers
C)   complex physical technology
D)   reputation with suppliers and customers

Question 11

The resource-based view (RBV)  of the firm combines two perspectives

Accepted Answer

A)   the primary and support activities of the firm.
B)   the interrelationships among the primary activities of the firm and corporate management.
C)   the internal analysis of the firm as well as the external analysis of the industry and competitive environment.
D)   the industry and the competitive environment.

Question 12

Gillette combines several technologies (e.g., metallurgy, physiology, physics)  to attain unparalleled success in the wet shaving industry. This is an example of Gillette's

Accepted Answer

A)   tangible resources.
B)   intangible resources.
C)   organizational capabilities.
D)   strong primary activities.

Question 13

Path dependency has no impact on the inimitability of resources.

Accepted Answer

A) True 
 B)False

Question 14

A competitive advantage based on inimitability can be sustained for at least some time if it has the following characteristics

Accepted Answer

A)   Physical uniqueness, path dependency, causal ambiguity, and social complexity.
B)   Psychographic uniqueness, path dependency, causal ambiguity, and substitutability.
C)   Rarity, path dependency, causal ambiguity, and social substitutability.
D)   Geographic uniqueness, cause dependency, social ambiguity, and path complexity.

Question 15

Which of the following would be most difficult to assess?

Accepted Answer

A)   The liquidity position of a firm
B)   The legitimacy and reputation of a firm
C)   Market share growth
D)   The efficiency with which a firm utilizes its assets

Question 16

When using industry norms as a standard of comparison, managers must be sure that the firms used in the comparisons are representative of all sizes and strategies within the industry.

Accepted Answer

A) True 
 B)False

Question 17

Establishing a customer service hotline to handle customer complaints would be considered a primary activity in value chain analysis.

Accepted Answer

A) True 
 B)False

Question 18

If employees' skills are idiosyncratic and rare (a source of resource-based advantage), they will lack bargaining power because the cost of replacing them is low for the firm.

Accepted Answer

A) True 
 B)False

Question 19

Campbell's Soup uses continuous replenishment for the Loblaw stores it supplies in Canada.

Accepted Answer

A) True 
 B)False  True

Question 20

The "balanced scorecard" provides top managers with a _____ view of the business.

Accepted Answer

A)   detailed and complex
B)   fast but comprehensive
C)   simple and routine
D)   long-term financial

Exam 3: Analyzing the Internal Environment of the Firm

Developing collaborative "win-win" relationships with suppliers is an important consideration in which supporting activity?

Correct AnswerverifiedShow Answer

The "balanced scorecard" developed by Kaplan and Norton helps to integrate

Correct AnswerverifiedShow Answer

Assessment of a firm's primary activities should include analysis of each of the following, except

Correct AnswerverifiedShow Answer

What are some ways in which a firm's general administration can help create (or enhance) competitive advantages?

Correct AnswerverifiedGeneral administration includes activities such as general management, planning, finance, accounting, legal and government affairs, and quality management and information systems. General administration typically supports the entire value chain and not individual activities.

Historical comparisons are most appropriate during periods of recession or economic boom.

Correct AnswerverifiedShow Answer

Which of the following lists consists of support activities?

Correct AnswerverifiedShow Answer

For a resource to provide a firm with the potential for a sustainable competitive advantage, it must have the following four attributes

Correct AnswerverifiedShow Answer

What are the four perspectives that the "balanced scorecard" enables managers to evaluate their business?

Correct AnswerverifiedThe four perspectives are the customer perspective, the internal business perspective, the innovation and learning perspective and the financial perspective.

All of the following have been identified as concerns in crowdsourcing, except?

Correct AnswerverifiedShow Answer

The following are examples of socially complex organizational phenomena, except

Correct AnswerverifiedShow Answer

The resource-based view (RBV) of the firm combines two perspectives

Correct AnswerverifiedShow Answer

Gillette combines several technologies (e.g., metallurgy, physiology, physics) to attain unparalleled success in the wet shaving industry. This is an example of Gillette's

Correct AnswerverifiedShow Answer

Path dependency has no impact on the inimitability of resources.

Correct AnswerverifiedShow Answer

A competitive advantage based on inimitability can be sustained for at least some time if it has the following characteristics

Correct AnswerverifiedShow Answer

Which of the following would be most difficult to assess?

Correct AnswerverifiedShow Answer

When using industry norms as a standard of comparison, managers must be sure that the firms used in the comparisons are representative of all sizes and strategies within the industry.

Correct AnswerverifiedShow Answer

Establishing a customer service hotline to handle customer complaints would be considered a primary activity in value chain analysis.

Correct AnswerverifiedShow Answer

If employees' skills are idiosyncratic and rare (a source of resource-based advantage), they will lack bargaining power because the cost of replacing them is low for the firm.

Correct AnswerverifiedShow Answer

Campbell's Soup uses continuous replenishment for the Loblaw stores it supplies in Canada.

Correct AnswerverifiedTrue

The "balanced scorecard" provides top managers with a _____ view of the business.

Correct AnswerverifiedShow Answer

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General administration includes activities such as general management, planning, finance, accounting, legal and government affairs, and quality management and information systems. General administration typically supports the entire value chain and not individual activities.

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The four perspectives are the customer perspective, the internal business perspective, the innovation and learning perspective and the financial perspective.

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True

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