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a. Organizational decision makers are rational and committed to acting in the firm's best
interests.
b. Resources to implement strategies are not highly mobile across firms.
c. The external environment is assumed to impose pressures and constraints that determine
the strategies that result in superior performance.
d. Firms in given industries, or given industry segments, are assumed to control similar
strategically relevant resources.
d. Firms in given industries, or given industry segments, are assumed to control similar
strategically relevant resources.
5. Which of the following is NOT an assumption of the resource-based model?
a. general
b. competitor
c. sociocultural
d. industry
a. general
2. The environmental segments that comprise the general environment typically will NOT
include:
a. demographic factors.
b. sociocultural factors.
c. substitute products or services.
d. technological factors.
c. substitute products or services.
3. Which of the following is an opportunity for an entrepreneur who wishes to open a
business doing therapeutic massage in his small community?
a. the nature and direction of the economy in which a firm competes or may compete.
b. the economic outlook of the world provided by the World Bank.
c. an analysis of how the environmental movement and world economy interact.
d. an analysis of how new environmental regulations will affect our economy.
a. the nature and direction of the economy in which a firm competes or may compete.
5. An industry is defined as:
a. Capabilities emerge over time through complex interactions of tangible and intangible
resources.
b. Valuable capabilities are based almost entirely on tangible resources.
c. Capabilities based on human capital are more vulnerable to obsolescence than other
intangible capabilities because of the tendency for employee knowledge to become
outdated.
d. The link between firm financial performance and capabilities is dependent on whether
the capabilities are based on tangible or intangible resources.
a. Capabilities emerge over time through complex interactions of tangible and intangible
resources
6. What is the job of a Chief Learning Officer?
a. causally ambiguous.
b. unobservable.
c. imitable.
d. valuable.
c. imitable.
8. When a resource or capability is valuable, rare, costly to imitate, and nonsubstitutable
firms may obtain:
a. scientific transference.
b. social complexity
c. historical conditions
d. causal ambiguity
a. scientific transference.
An integrated and coordinated set of commitments and actions designed to exploit core
competencies and gain a competitive advantage in a specific product market is a definition
of:
a. business strategy.
b. core competencies.
c. sustained competitive advantage.
d. strategic mission.
a. business strategy.
In evaluating its customers, which of the following is NOT a relevant question?
a. acceptable to customers.
b. unique to the customer.
c. highly valued by the customer.
d. able to meet unique needs of the customer
a. acceptable to customers
When the costs of supplies increase in an industry, the low-cost leader may:
a. acceptable features.
b. features of little value relative to the value provided by the low-cost leader's product.
c. features for which the customer will pay a low price.
d. features that are non-standardized for which they are willing to pay a premium.
d. features that are non-standardized for which they are willing to pay a premium.
The differentiation strategy can be effective in controlling the power of rivalry with existing
competitors in an industry because:
a. strategic competitiveness
b. a temporary competitive advantage
c. substantial returns
d. legal and ethical core values
Not sure atm
1. Above-average returns are:
a. a set of activities that will assure a temporary advantage and average returns for the firm.
b. a decision-making activity concerned with a firm's internal resources, capabilities, and
competencies, independent of the conditions in its external environment.
c. a process directed by top-management with input from other stakeholders that seeks to
achieve above-average returns for investors through effective use of the organization's
resources.
d. the full set of commitments, decisions, and actions required for the firm to achieve
above-average returns and strategic competitiveness.
d. the full set of commitments, decisions, and actions required for the firm to achieve
above-average returns and strategic competitiveness.
All of the following are assumptions of the industrial organization (I/O) model EXCEPT
a. Organizational decision makers are rational and committed to acting in the firm's best
interests.
b. Resources to implement strategies are firm-specific and attached to firms over the long-
term.
c. The external environment is assumed to impose pressures and constraints that determine
the strategies that result in above-average returns.
d. Firms in given industries, or given industry segments, are assumed to control similar
strategically relevant resources.
b. Resources to implement strategies are firm-specific and attached to firms over the long-
term.
All of the following are assumptions of the resource-based model EXCEPT
a. Each firm is a unique collection of resources and capabilities.
b. The industry's structural characteristics have little impact on a firm's performance over
time.
c. Capabilities are highly mobile across firms.
d. Differences in resources and capabilities are the basis of competitive advantage.
c. Capabilities are highly mobile across firms.
In the resource-based model, which of the following factors would be considered a key to
organizational success?
a. unique market niche
b. weak competition
c. economies of scale
d. skilled employees
d. skilled employees
All of the following are resources of an organization EXCEPT
a. all resources have the potential to be the basis of sustained competitive advantage.
b. all capabilities can be a source of sustainable competitive advantage.
c. the key to competitive success is the structure of the industry in which the firm competes.
d. resources and capabilities that are valuable, rare, costly to imitate, and non-substitutable
form the basis of a firm's core competencies.
d. resources and capabilities that are valuable, rare, costly to imitate, and non-substitutable
form the basis of a firm's core competencies.
The goal of the organization's ____ is to capture the hearts and minds of employees,
challenge them, and evoke their emotions and dreams.
a. vision
b. mission
c. culture
d. strategy
a. vision
A firm's mission