Question 1

Explain the four attributes that a resource must have to provide a firm with a sustainable competitive advantage.

Accepted Answer

A resources must be ...

Question 2

What are the benefits and limitations of making historical comparisons in analyzing a firm's performance?

Accepted Answer

Historical comparisons can hel...

Question 3

Leverage ratios provide measures of a firm's capacity to meet its long-term financial obligations.

Accepted Answer

A) True 
 B)False

Question 4

Capabilities that are causally ambiguous are difficult to imitate.

Accepted Answer

A) True 
 B)False

Question 5

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 6

Value chain analysis assumes that a firm's basic economic purpose is to create value and it is a useful framework for analyzing a firm's strengths and weaknesses.

Accepted Answer

A) True 
 B)False

Question 7

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 8

A resource is valuable and rare but neither difficult to imitate nor without substitutes.This should enable the firm to attain

Accepted Answer

A)   no competitive advantage.
B)   competitive parity.
C)   a temporary competitive advantage.
D)   a sustainable competitive advantage.

Question 9

The balanced scorecard enables managers to evaluate their business from only two perspectives: customer and financial.

Accepted Answer

A) True 
 B)False

Question 10

A marketing department that promises delivery faster than the production department's ability to produce is an example of a lack of understanding of the

Accepted Answer

A)   interrelationships among functional areas and firm strategies HYPERLINK "" .
B)   need to maintain the reputation of the company.
C)   organizational culture and leadership.
D)   synergy of the business units.

Question 11

Tangible resources are assets that are relatively easy to identify such as financial and physical assets.

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

To create an intangible resource that cannot be easily copied,Canadian retailer Holt Renfrew combines

Accepted Answer

A)   real estate and store fixtures.
B)   brand name and experienced staff.
C)   accumulated reputation for quality.
D)   all of these are correct

Question 14

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 15

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

Question 16

The three key types of resources that are central to the resource-based view of the firm are

Accepted Answer

A)   tangible resources, intangible resources, and organizational structure.
B)   culture, tangible resources, and intangible resources.
C)   tangible resources, intangible resources, and organizational capabilities.
D)   tangible resources, intangible resources, and top management.

Question 17

Path dependency has no impact on the inimitability of resources.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is not an advantage of Just-In-Time inventory systems?

Accepted Answer

A)   Reduced raw material storage costs
B)   Minimized idle production facilities and workers
C)   Reduced work-in-process inventories
D)   Reduced dependence on suppliers

Question 19

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 20

What are some of the most important implications of using the "balanced scorecard" approach?

Accepted Answer

The balanced scorecard provide...

Exam 3: Assessing the Internal Environment of the Firm

Explain the four attributes that a resource must have to provide a firm with a sustainable competitive advantage.

Correct AnswerverifiedA resources must be ...View AnswerShow Answer

The three key types of resources that are central to the resource-based view of the firm are

Correct AnswerverifiedShow Answer

A resource is valuable and rare but neither difficult to imitate nor without substitutes.This should enable the firm to attain

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 benefits and limitations of making historical comparisons in analyzing a firm's performance?

Correct AnswerverifiedHistorical comparisons can hel...View AnswerShow Answer

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

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

A marketing department that promises delivery faster than the production department's ability to produce is an example of a lack of understanding of the

Correct AnswerverifiedShow Answer

Value chain analysis assumes that a firm's basic economic purpose is to create value and it is a useful framework for analyzing a firm's strengths and weaknesses.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Path dependency has no impact on the inimitability of resources.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Tangible resources are assets that are relatively easy to identify such as financial and physical assets.

Correct AnswerverifiedShow Answer

Which of the following is not an advantage of Just-In-Time inventory systems?

Correct AnswerverifiedShow Answer

To create an intangible resource that cannot be easily copied,Canadian retailer Holt Renfrew combines

Correct AnswerverifiedShow Answer

What are some of the most important implications of using the "balanced scorecard" approach?

Correct AnswerverifiedThe balanced scorecard provide...View AnswerShow Answer

Capabilities that are causally ambiguous are difficult to imitate.

Correct AnswerverifiedShow Answer

The balanced scorecard enables managers to evaluate their business from only two perspectives: customer and financial.

Correct AnswerverifiedShow Answer

Leverage ratios provide measures of a firm's capacity to meet its long-term financial obligations.

Correct AnswerverifiedShow Answer

Which of the following lists consists of support activities?

Correct AnswerverifiedShow Answer

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A resources must be ...
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Historical comparisons can hel...
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The balanced scorecard provide...
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