Question 1

A SWOT analysis alone __________ helps a firm develop competitive advantages that it can sustain over time.

Accepted Answer

A)   usually
B)   often
C)   rarely
D)   regularlyE) All of the above
F) None of the above

Question 2

Which of the following is a support activity?

Accepted Answer

A)   inbound logistics
B)   customer service
C)   technology development
D)   operationsE) All of the above
F) C) and D)

Question 3

Which of the following is a limitation of SWOT (Strengths,Weaknesses,Opportunities,and Threats) analysis?

Accepted Answer

A)   Organizational strengths may not lead to competitive advantage.
B)   The SWOT focus on internal environment is too broad and integrative.
C)   SWOT gives a multi-shot view of a moving target.
D)   SWOT overemphasizes a multiple dimensions of strategy.E) C) and D)
F) A) and B)

Question 4

Making comparisons between a firm and its most direct rivals is useful because firms within the same strategic industry group have _______ strategies.

Accepted Answer

A)   different
B)   the same
C)   similar
D)   relativeE) None of the above
F) All of the above

Question 5

Intangible resources are typically embedded in ________ routines and practices that have evolved and accumulated over time.

Accepted Answer

A)   rare
B)   standard
C)   unique
D)   obviousE) B) and D)
F) C) and D)

Question 6

Intangible resources of a firm refer to its capacity to deploy tangible resources over time and leverage those resources effectively.

Accepted Answer

A) True 
 B)False

Question 7

Toyota,the giant automaker,paid a heavy price for its ___________ emphasis on cost control.The resulting problems with quality and the negative publicity led to severe financial losses and an erosion of its reputation in many markets.

Accepted Answer

A)   minimal
B)   superficial
C)   low-budget
D)   excessiveE) C) and D)
F) All of the above

Question 8

An important implication of the balanced scorecard is that managers need not look at their job as primarily balancing stakeholder demands.

Accepted Answer

A) True 
 B)False

Question 9

When evaluating the financial performance of a firm,it is important to compare the results with industry norms.

Accepted Answer

A) True 
 B)False

Question 10

Focusing too narrowly on current customers,technologies and competitors can lead a company to overlook periphery industry boundaries and a new set of competitive relationships.

Accepted Answer

A) True 
 B)False

Question 11

The corporate culture at Southwest airlines is an example of causal ambiguity.

Accepted Answer

A) True 
 B)False

Question 12

The ability to hire,motivate,and retain human capital is an example of ________ capabilities in the resource-based view of the firm.

Accepted Answer

A)   tangible
B)   organizational
C)   management
D)   designE) A) and C)
F) B) and C)

Question 13

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)   a temporary competitive advantage.
C)   competitive parity.
D)   a sustainable competitive advantage.E) B) and C)
F) C) and D)

Question 14

In a retail service industry,which of the following is not a primary value-chain activity?

Accepted Answer

A)   purchasing goods
B)   human resource management
C)   partnering with vendors
D)   operating storesE) A) and C)
F) B) and D)

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

The static nature of the SWOT assessment is a positive advantage for it as an evaluation framework.

Accepted Answer

A) True 
 B)False

Question 17

Harley-Davidson sells accessories,clothing,toys and motorcycles.They have a brand image in common which is a tangible resource.

Accepted Answer

A) True 
 B)False

Question 18

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

Accepted Answer

A) True 
 B)False

Question 19

At times,the difference between manufacturing and service is in providing a customized solution rather than mass production,as is common in manufacturing.

Accepted Answer

A) True 
 B)False

Question 20

In terms of value chain analysis,a telephone operating company would find that negotiating and maintaining ongoing relations with regulatory bodies are important activities for achieving

Accepted Answer

A)   returns on investment.
B)   customer awareness.
C)   competitive advantage.
D)   better employees.E) B) and D)
F) None of the above

Exam 3: Assessing the Internal Environment of the Firm

Harley-Davidson sells accessories,clothing,toys and motorcycles.They have a brand image in common which is a tangible resource.

Correct AnswerverifiedShow Answer

The corporate culture at Southwest airlines is an example of causal ambiguity.

Correct AnswerverifiedShow Answer

In a retail service industry,which of the following is not a primary value-chain activity?

Correct AnswerverifiedShow Answer

Which of the following is a support activity?

Correct AnswerverifiedShow Answer

Toyota,the giant automaker,paid a heavy price for its ___________ emphasis on cost control.The resulting problems with quality and the negative publicity led to severe financial losses and an erosion of its reputation in many markets.

Correct AnswerverifiedShow Answer

An important implication of the balanced scorecard is that managers need not look at their job as primarily balancing stakeholder demands.

Correct AnswerverifiedShow Answer

The ability to hire,motivate,and retain human capital is an example of ________ capabilities in the resource-based view of the firm.

Correct AnswerverifiedShow Answer

Focusing too narrowly on current customers,technologies and competitors can lead a company to overlook periphery industry boundaries and a new set of competitive relationships.

Correct AnswerverifiedShow Answer

At times,the difference between manufacturing and service is in providing a customized solution rather than mass production,as is common in manufacturing.

Correct AnswerverifiedShow Answer

A SWOT analysis alone __________ helps a firm develop competitive advantages that it can sustain over time.

Correct AnswerverifiedShow Answer

Intangible resources are typically embedded in ________ routines and practices that have evolved and accumulated over time.

Correct AnswerverifiedShow Answer

Intangible resources of a firm refer to its capacity to deploy tangible resources over time and leverage those resources effectively.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following is a limitation of SWOT (Strengths,Weaknesses,Opportunities,and Threats) analysis?

Correct AnswerverifiedShow Answer

The static nature of the SWOT assessment is a positive advantage for it as an evaluation framework.

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

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

Correct AnswerverifiedShow Answer

In terms of value chain analysis,a telephone operating company would find that negotiating and maintaining ongoing relations with regulatory bodies are important activities for achieving

Correct AnswerverifiedShow Answer

Making comparisons between a firm and its most direct rivals is useful because firms within the same strategic industry group have _______ strategies.

Correct AnswerverifiedShow Answer

When evaluating the financial performance of a firm,it is important to compare the results with industry norms.

Correct AnswerverifiedShow Answer

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